Features of Management

Management is the process of designing and maintaining an environment in which individuals working together in groups to accomplish selected aims efficiently.

           It connotes different meaning indifferent contexts. The concept management may be used as

Collective noun	-	Board of directors or Executive Committee
Field of study	-	A branch of knowledge including the principles, techniques, functions and problem management.
Function	-	Functions to be performed to attain the organizational objectives-planning, organizing direction, co-ordination and control

In a more important sense, management is a vital function concerned wth all aspects of the working of an enterprise. Here the management is considered as a body of knowledge consisting of several concepts, principles, techniques and theories which can be adopted in any group Endeavour.

Features of Management

The important characteristics of management as a business function are:

1. It is an art of getting things done through and with people.
2. Art and science of decision making and leadership.
3. It is a universal process for achieving results.
4. It is an profession which involves specialized training and is governed by an ethical code.
5. It coordinates human factor and physical resources for the accomplishment of group objectives.

-           by balancing and integration (or)

-           by innovation and adaptation

Importance of management study

The need and significance of management functions in the modern organizations are given below.

1. To increase the efficiency
2. to give a definite shape to management function.
3. to improve research in management.
4. to attain social goals by effective utilization of resources.

Nature of Management functions

1.              Universality     :           It has universal application in all kinds/nature and size of                                         business activities.

           

2.                  Dynamism :           This body of knowledge is going  on changing                                                    continuously with respect changes that are taking place in                                        the organizational environment.

3.                  Relativity  :           It embraces all business functions at different levels.

4.                  Regularity of

human nature :      It helps to shape the human behaviour in the work                                                    environment.