Summary
Summary Master of Bussiness Administration
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It is an introduction to Management.
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CHARACTERISTICS OF MANAGEMENTManagement is characterized by a few elements.
I.Management is a group activity Since the organization reflects the
social dimension, where individuals interact with each other in
getting things done, individual efforts alone doesn’t guarantee
results. Moreover, management cannot be done in isolation and
hence, includes group activity. Management is thus seen as
integrating individual efforts through organized group activity.
II. Management is Universal in its application Management applies to
government, business enterprises, education institutions, military,
medical and non-governmental organizations in equal measure. The
principles of management suggested by the German industrial
Psychologist Henry Fayol, are considered as guiding principles which
could be adapted to specific organizational context.
III.Management is a continuous activity Management is dynamic in
nature and hence is continuous. The ever changing organizational
activity provides continuity to management functions.
IV. Management as an Integrated Effort The process of management
integrates the human and other resources in the achievement of the
objectives of the organization. In the process, the individual goals
and the organizational goals get aligned for effective functioning of
the organization.
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