What is Management?
Management is planning, supervising and ascertaining
of the three most important constituents of an organization called Man, Money,
and Machine. Management carries on with harmonization of these very important
elements with minimum consumption of accessible resources towards maximization
of profits. Consequently, management is a word approximately expended for the
sake of assuring everything and anything within the organization. It is looked
up as the Human Idea being formulated by the Humans for the Human benefit.
The fundamental concept behind Management is to be
aware of the personality and behavior of the people and the temperament of the
organization, the money, and the capital demanded and how they both are
interlinked so that the capital is handled professionally. As per the
management’s people concept that has the maximum priority as it is an
indispensable constituent in every organization and that only concentrated and
devoted workforce can get together towards the organizational goals and objectives.
Management does not only have an orientation to organizations or business
performance but also has apprehension with the personal life of the time
management, money management, and material management. Management instructs the
effective consumption of minimum accessible resources.
Objectives
1. Management assists to obtain the precise path and right pronouncement at right time.
2. It contributes us with the extent, future and intention of dealing an organization and the employees and that in the most effective manner.
3. Management carries on well with handling and apt working of the process activities inside an organization.
4. This chiefly focuses on planning and calculation of every activity embarking on from operation, presentation, management, a personnel team for administration and to administer the operations effectively.
Areas of Management
· Business Law and
Ethics: Under this field of study, it acquaints pupils of the established
laws and ethics in the industry as Law and Ethics are predictable to run a
highly regarded business.
· Financial
Management: Financial management lets in planning for the future of a business
enterprise to pledge a hopeful cash flow. It incorporates the management and
persistence of the monetary assets. In addition to this, an economic management
comprehends the modus operandi of managing and distinguishing the risks.
· Human Resource
Management: The key rationale of human
resources management is to hit a balance amid meeting the needs of employees
and to see as to what best serves up the market-driven needs at the part of an
organization. When found correct, the end result should be growth and affluence
for both the individual employees and the organization as a whole.
· Industrial
Management: It is a branch of management which deals with people in industry,
material, and energy contributing more towards production growth.
· International Management: The prime decisive factor of Managing Information Technology is to
preserve and administer all the technological resources of the firm according
to its prerequisite and priorities.
· Managing Information Technology: The prime decisive factor of Managing Information Technology is to preserve and administer all the technological resources of the firm according to its prerequisite and priorities.
· Marketing Management: It is a field of study that enabled its
pupils to be aware of an assortment of accomplishment and application
perceptivity’s in look upon to marketing techniques. In addition, marketing management involves
management of marketing resources and activities.
· Operations Management: Operations management understood to be one
of the core disciplines of management that let in getting by and commanding on
all of the foundation activities of an organization. It is held accountable for
the adaptation of materials and labour into goods and services in the most
competent manner so as to capitalize on the profits.
· Project Management: Fundamentally, the Project Management
defines the Project Plan, determines the budget, sets deadlines, checks and
manages resources and also deals well with the project plan implementation.
· Strategic Management: It deals with formulating, implementing, and
assessing cross-functional decisions in order to lend a hand to an organization
grow up and accomplish the desired goals.
· Supply Chain Management/Operations Management: Supply chain management is the management of a network of interrelated businesses drawn in the eventual stipulation of product and service packages needed by end customers is a cross-function approach including managing the movement of raw materials into an organization toward the end-consumer.
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