The Nature Of Management, Nature And Nature Of Management

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1. Nature and Scope of Management INTRODUCTION A business develops in course of time with complexities. With increasing complexities managing the business has become a difficult task. The need of existence of management has increased tremendously. Management is essential not only for business concerns but also for banks, schools, colleges, hospitals, hotels, religious bodies, charitable trusts etc. Every business unit has some objectives of its own. These objectives can be achieved with the co-ordinated efforts of several persons. No organisation can run successfully unless there is someone to manage its activities. Managers are needed to convert disorganised resources of men, material, money, machines into useful and effective enterprise.…show more content…
As managing is the Art of doing and Management is the body of knowledge that underlies that art. Science provides the principles, while the way principles are to be applied is the matter of art. The body of management knowledge provides necessary principles for managing such as how to inspire employees to work hard but different managers use it differently. Management as a science has provided a systematic body of knowledge to be learnt by the prospective and the working manager. That is why the old saying that ‘managers are born’ has been rejected in favour of ‘managers are made’ because management has emerged as a science and people can be trained to be managers. But the fact that management is an art where specialised personal skills are implied creatively for management work. MANAGEMENT–AS A PROFESSION We often hear of professionalisation of management in our country. By a professional manager, we generally mean a manager who undertakes management as a career and is not interested in acquiring ownership share in the enterprise which he manages. But, is management a profession in the true sense of the word? or, is management a profession like the professions of law and medicine? According to McFarland a profession possess the following feature which are as follows
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