Answer to Question #14851 in Management for l m prasad

Question #14851
what is management? discuss the concept of management
Expert's answer
Management is an independent professional activity aimed at achieving in the course of any business of the company, operating under market conditions, certain goals through the efficient use of material and human resources, applying the principles, functions and methods of economic management mechanism.

Management goals:

- organization of competitive products;
- improvement of the production process;
- the implementation of new high technologies;
- improving product quality;reduction in production costs.

The four concepts of management, translated into functions lead to the creation of a cohesive organization, which smoothly achieves its objectives. The four functions of management are:

1. Planning is an unending course of action. It is the base upon which the all other areas of management are built.

2. Management must organize all its resources beforehand, to put into practice, the course of action, which has been decided upon in the base function of planning. Through this process, management will now determine the inside directorial configuration; establish and maintain relationships and also assign required resources.

3. Directing or leading is the third function of management. Working under this function helps the management in controlling and supervising the actions of staff. This helps them in assisting the staff, to achieve the company's goals and also accomplish their personal or career goals, which can be powered by motivation, communication, department dynamics, and department leadership.

4. Control is the last of four functions of management, includes establishing performance standards, which are aligned to the company's objectives. It also involves evaluation and reporting of actual job performance.

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Assignment Expert
30.07.14, 14:53

Dear Nandhini! You're welcome. We are glad to be helpful. If you liked our service please press like-button beside answer field. Thank you!

29.07.14, 10:10

thank you

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