Management is a universal phenomenon. It is a very popular and widely used term. All organizations — business, political, cultural, or social — are involved in management because it is the management which helps and directs the various efforts towards a definite purpose.
Definition
“Management is knowing exactly what you want men to do and then seeing that they do it the best and cheapest ways.”
— F. W. Taylor
“Management is an art of getting things done through and with the people in formally organized groups. It is an art of creating an environment in which people can perform as individuals and can co-operate towards attainment of group goals.”
— Koontz and O’Donell
Nature of Management
The study and application of management techniques in managing the affairs of the organization have changed its nature over the period of time.
1. Multidisciplinary
Management is basically multidisciplinary. This implies that, although management has been developed as a separate discipline, it draws knowledge and concepts from various disciplines. It draws freely ideas and concepts from such disciplines as psychology, sociology, anthropology, economics, ecology, statistics, operations research, etc. Management integrates the ideas and concepts taken from these disciplines and presents newer concepts which can be put into practice for managing the organization.
2. Dynamic Nature of Principles
Based on integration and supported by practical evidences, management has formed certain principles. However, these principles are flexible in nature and change with the changes in the environment in which an organization exists.
3. Relative, Not Absolute Principles
Management principles are relative, not absolute, and they should be applied according to the need of the organization. Each organization may be different from others. The difference may exist because of time, place, socio-cultural factors, etc.
Management – Science or Art
There is a controversy whether management is science or art. However, management is both a science and an art.
Management as a Profession
Management has been regarded as a profession by many, while many have suggested that it has not achieved the status of a profession.