What is Management? Definition, Concept, Characteristics, Types, Functions, and Levels

What is management

The well-known proverb is “Good management is better than good income”.. I think that it is appropriate.

Because management is the soul of every successful organization. For ex- Swiggy and Zomato are not profit-making companies now but successful companies invested in them. Because they believe in their well-organized management system which makes a profit in the near future.

So, today we discus management briefly.

Let’s drive in.

Definition:

Management is a transformation process consisting of planning, organizing, actuating, and controlling, performed to determine and accomplish the objectives or goals by use of people and resources.

Concept of Management

To understand the basic of management, Harbison and Myers offered a classic threefold concept. They noticed management as

  • An economic resource
  • A system of authority.
  • A class or elite system.

Here we are going each concept separately and understand them.

Concept of Management
Concept of Management

1. An economic resource:

According to the eyewitness of an economist, management is one of the vital factors of production together with land, labor, and capital.

If the industrialization of a nation increases, the need of management increases with the substitution for capital and labor. Ex- India is an economically growing nation, so youth sees some future of the management sector for this reason the enrollment of MBA course increase year by year.

The managerial resources of any firm effect its productivity, and profitability. In those firm should have innovation, management helps to do it.

2. An system of authority:

According to the eyewitness of a specialist in administration and organization, management is the system of authority making.

In accent times, management first developed by an authoritarian philosophy with a less number of top individuals who fixed all actions of rank and file.

Later, some management developed by paternalistic approaches for humanitarian concepts.

And then later, constitutional management came into the picture characterized by definite and consistent policies and procedures for dealing with the working groups.

The management trend was toward a democratic and participative approach for employee’s higher education.

Our modern management can be viewed as an association of these four approaches to authority.

3. As class and elite system:

According to the eyewitness of sociologists, management is a class and elite system.

In modern society needs that managers become pick of brains and education to increase the complexity of relationships.

Characteristics of management

The world is full of characteristics, management is not far from it. To be a great manager, you should have a lot of valuable qualities. These qualities do not only help you on the managerial stage but it also helps to live a quality life.

There are some characteristics given below which helps you to make good to great.

Characteristics of Management
Characteristics of Management

1. Goal Oriented Process:

Always the primary motive of management is to achieve the organizational goals.

The manager’s function and activities only focus on fulfillment of the organizational objectives.

Let’s imagine, if a company builds 100 pens, then the only objective is to sell 100 pens timely in anyhow. Then the manager plans the overall action, directing and motivate all the staffs or employees, and fix the main target is to sell 100 pens quickly.

Goal oriented approach saves time from distracting.

2. Universal Phenomenon:

The universal phenomenon is a vital characteristic in management. The concept of management is worked all over the world whether it is the USA or India.

If you will see that someone is doing great in their life or some business growth thoroughly then you see it is all for management.

So, management is everywhere a student’s life to a businessman’s life. It is not stagnant on business only it is applicable in profit-making, non-profit making, business, or non-business organizations.

3. Multidimensional:

Management is not a one-dimensional activity. In every sector, management has a separate seat but it includes three main dimensions:

  • Work management: Work management activities focus at achieving goals and objectives.
  • People management: The most important assets of an organization are human capital. One of the main reasons to win over competitors is the difference of capability, ideation of human capital. It has two dimensions: (1) Giving the importance of an employee’s individual needs. (2) Giving the importance of a group of people.
  • Operational management: Operations know as activities of production and distribution cycle such as buying inputs, converting them into finished goods, and finally distribute goods in the market.

4. Continuous Process:

Management is a never-ending process. Managers performed all the functions of management continuously, for example, some time managers are planning, some of the time they are staffing or directing, etc. Mangers perform functions with the continuous processes in the organization.

5. Group Activity:

Management does not happen through the only working of the manager. It happens with a group of people’s dedication or performance.

So, the result of company’s success refers to a group effort and not the individual effort.

Management has to changes in objectives, and other activities according to the change of the market environment.

6. Dynamic Function:

The external market environment (like- social and economical, etc) effects on management.

Survive the competitive world and then change the functions of management such as planning, or directing, etc according to the survive report.

7. Intangible:

Management is not a physical entity so it couldn’t be touched but it can be felt through organization functions.

8. Composite Process:

Functions of management must be performed in prefect sequences which are not independent and inter-dependent of each other.

9. Efficiency:

Efficiency means achieving goals or objectives timely with human labor and optimum use of resources.

Types of Management

Managers have many styles and management has many types.

These are the most vital types of management.

1. Strategic Management: It views at an organization’s overall strategy formation and implementation of the plan.

2. Sales Management: It helps to manage sales part and groups or accounts.

3. Marketing Management: It concerns marketing strategies, products, brands and promotion.

4. Public Relation Management: It main focuses is to communicate between an organization and the consumers.

5. Operations Management: It describes everything from manufacturing to retailing.

6. Supply Chain Management: It manages the process of moving a product or service from supplier to consumers.

7. Procurement Management: It helps to manage the consumtion of goods and services from external sources.

8. Financial Management: It manages financial and accounting processes.

9. Human Resources Management: Human Resource Management (HRM or HR) is the strategic process for the effective management of people in a company or organization. They help their business gain a competitive advantage.

10. Information Technology Management: It manages IT teams and actions.

11. R&D Management: It helps to manage of research & deployment processes and teams.

12. Engineering Management: Managing the method of engineering to business solution.

13. Program Management: It manages ongoing portfolio of project.

14. Project Management: Project management is the management of the planning, organization, and control of project.

15. Risk Management: Risk management is the strategic approach of identifying, assessing, and controlling threats to an organization’s capital and earnings.

16. Change Management: Change management applies a structured approach to business change.

17. Quality Management: It helps to create quality planning, control, assurance and improvement.

18. Innovation Management: Innovation Management process such as strategy, R&D or organizational change.

19. Design Management: It helps to design product and services.

20. Knowledge Management: The management of knowledge processes the identification, creation, representation, distribution, and use of knowledge. It is a very important concept of management, it also effects on market economy.

Every management has a separate quality, so everyone is very important.

Functions of Management

The human mind works very well when it has a perfect function to do a work-force. Such as management also has five key functions.

These functions are given below.

Functions of Management
Functions of Management

Planning:

The initial goal of a manager is planning and achieving objectives for associates and maintains success. They must confess them to their staff or employees with a generous manner.

Like – when Amazon started their same-day delivery feature then it wants to improve delivery times and remind every indivisible employee that faster service increases their revenue, trust, and good-well.

Organizing:

Organizing is an essential part of management that involves forming a meant structure of roles for people to make in an organization.

To work a machine well, it is necessary to provide all the useful parts for its proper functioning, management is not different from it.

The purpose of an organization structure is to help in building a working environment for human performance.

Staffing:

Steve Jobs says that the first 10 people of the company make a business successful. Staffing is the vital function of recruiting and retaining on the behalf of the appropriate work for the organization both at managerial as well as other departments.

Jobs has a unique quality, he converts ordinary people to extraordinary people through proper training, developing, compensating, and evaluating with incentives and motivation. It is a sigh of a great manager.

The human capital is the most important aspect in the function of management.

Directing:

After planning, organizing, and staffing, directing is the next important process of management to directing and leading toward the pre-planned objectives.

It concerns three sub-functions namely Leadership, Communication, and Motivation.

  • Leadership: It is a process where manager guides and influences the work of their staff and employees.
  • Communication: It is the process of passing information to one to another.
  • Motivation: It means arousing desire to accomplish the company’s goals in the employee’s mind of an organization to perform their best. If staff or employees are properly motivated then they will put their effort dedication, loyalty, and care out the assigned task effectively.

The other functions of management help to create the foundation of any organization but directing helps to create things in reality.

Controlling:

Controlling is calculating and correcting of activities of subordinates to make sure that the work is going according to the plan.

Generally its main work to measurement of achievement.

These are the five key functions of management.

In a job, you think that these key functions are very unreasonable but if you give focus to each function separately and deal with it.

Then I make sure that it is great for you.

Levels of Management

There are three levels of management that represent the position and rank of executives and managers in the chart.

Levels of Management
Levels of Management

1. Top-Level Management:

They are the senior-most executives of the company. They are regarded as the chairman, the chief executive officers (CEO), the chief operating officers (COO), president, and vice-president (VP).

It operates various operational levels, managing marketing, finance, sales, etc. Their main motive is to mix various activities and control the action according to the overall target and objective of the organization.

2. Middle-Level Management:

It creates a bridge of connection between top and lower-level managers. They are called as departmental and division head.

Their main work is to implement and control plans and strategies which are issued by the top-level managers.

3. Lower-Level Management:

It is a very crucial level of management because here everything put in the real field. So, the other name is this sector is supervisory or operational management.

It has a chance to directly interact with the staff or employees. It helps to better use of the idle time of the workers for the improvement of the quality and quantity of products and services.

These are three levels of management which build a whole organization.

Importance of Management

History says that management is gold for every successful organization.

So management is one of the most precious keys to making a successful business or organization. For this reason, if you find this key, then I make sure that you unlock every lock( like- the bad relationship between employees, distract from the real objectives, etc) timely and smoothly.

There are some well-known importances of management, based on a thorough survey of some companies given below.

1. Helps to achieve goals and objectives timely and smoothly.

2. Provides a sense of focus and direction.

3. For optimum utilization of time, and resources.

4. To maintain responsibility and order.

5. To reduce workload and get things done.

6. Helps facilitate good communication.

7. Helps to initiate action and keep the organization moving.

Advantages and Disadvantages of Management

In our world, everything has pros and cons. Management is the different from it.

Firstly, we will know the advantages and then disadvantages of management.

Advantages of Management:

1. Encourages managers to do detailed and future-oriented planning.

2. Ambiguity or confusion free head of managers and the co-worker.

3. The responsibilities and authority of the personnel is clearly settled down.

4. It creates more awareness on every individual for the company goals.

5. It highlights the area in which the employees need further training, direction to career development.

6. It improves communication between levels of management which helps to denote the real problem of an organization and a few more.

Disadvantages of Management:

1. Problems in joint objective setting among unequal’s.

2. Goal setters not given any orientation.

3. Inflexibility.

4. Problem of status and authority.

5. Limited time horizon.

Frankly speaking, we have trouble to find the disadvantages of management. After knowing the cons of management, if we are focused on the advantages of management then I think that half things are done by you.

How to be a great manager?

When you are reading or lessening this article, i think that this question pops up in your mind for one time.

If you eager to know how to be a great manager. Then there are a good news for you.

Every successful manager has some great quality which are disclosing today.

1. Get to know your employees.

2. Communicate between sub-ordinary.

3. Listen to your employees.

4. Be a great motivator.

5. Be a leader.

6. Improve yourself.

7. Acknowledge success.

8. Be a human-being.

9. It’s okay to be friends.

10. Leads by example.

11. Learn from the failures.

Conclusion:

Remember, as a manager, you should classify your organization’s vision, mission, strategies, and cultures. You treat your staff and co-workers kindly and honestly.

Talk the walk and walk the talk, and listen, people are also observing and auditing how you walk it.

And be a manager, give your best to your organization goals and objectives and build a trust and good relation with the organization and your people.

What did you think of this? Do I miss something? Come on! Let us know if you want to add something to the list.

Management FAQ:

What do you mean by management?

Management is a transformation process consisting of planning, organizing, actuating, and controlling, performed to determine and accomplish the objectives or goals by use of people and resources.

What are the 5 principles of management?

At the basic fundamental level, management is an order that forms of a set of five general functions: planning, organizing, staffing, directing, and controlling.

What are three levels of management?

There are three levels of management that represent the position and rank of executives and managers in the chart. These are (1) Top-Level Management, (2) Middle- Level Management, and (3) Lower-Level Management.

One Reply to “What is Management? Definition, Concept, Characteristics, Types, Functions, and Levels”

Leave a Reply

Your email address will not be published. Required fields are marked *