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The Traits of Business Management
All activities performed by a manger to get things executed by means of others are known as management. In other words, management is to manage human and other resources tactfully for the achievement of organizational goals. It's common in all organized activities. It is an exercise of harmonizing males, money, machines, supplies and methods towards fulfilling the defined objectives.
Check our list of characteristics of enterprise management
Goal oriented
Each organization is established for a particular objective. Administration is an instrument or system that contributes for the efficient use of human and different resources to achieve predetermined objectives. The principle objective of business management is to maximise productivity with optimum use of human effort.
Common activity
Administration is essential where human activity exists. The process of enterprise management may be completely different from organization to organization however the basic ideas of administration are same. It can be said that the administration rules are universally applicable.
Social process
Business administration is a part of social process. Administration achieves its aims by, with, and through the people. It utilizes human resources for the achievement of organizational goals. Administration has to consider not only the organizational targets but additionally the social objectives. It has to fulfill the wants of staff within the organizational resources.
Dynamic/modifiable activity
Management is a dynamic and continuous process. The administration system of immediately may not be applicable or efficient for tomorrow. Due to this fact, management should be dynamic and versatile with the changing setting of the society. Management has to switch its type according to the time and situation. This flexibility is essential for a company to adjust with the altering atmosphere of the business.
Group activity
The concept of business management just isn't applicable if there is only one particular person or proprietor. It represents a workforce, class or section of individuals involved in various managerial functions. It is essential if there is a group of people concerned in performing any activity to achieve frequent goals. Administration defines the creatority, responsibility and procedures to perform particular work.
Distinct process
Management as a process involves numerous types of functions. One operate of management is interrelated with another function. The management clearly defines the precise process of work to achieve predetermined goal. It doesn't consider the trial and error approach.
Both science and artwork
Science is a systematized body of knowledge, principal or reality that's experimentally proved. Similarly, art is the personal skill and ability to use the scientific principles. Administration is each science and art. It is a science because it relies on some fundamental rules of common application. It is usually an art because skill and ability is required for performing managerial functions.
A profession
Profession involves the particular type of work, followed by particular knowledge and education. With the development of joint stock companies and multinational companies the ownership and administration has been different. Management of giant organizations has been entrusted within the palms of professionals having particular skill and knowledge.
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