Concept of Management; In order to satisfy his/ her wants, a person has to perform numerous activities. An individual alone cannot perform all the necessary activities. Therefore, human beings join or cooperate together in the form of groups and organizations. Every organization is basically a group of people seeking to attain some common objectives. A central organ or agency is required to coordinate the activities and efforts of various individuals working together in an organization so that they can work collectively as a team, such an organ is called management. So, the question is – What is Management and Concept of Management?
What is Management and Concept of Management?
#What is Management: The term “Management” conveys different meanings of depending upon the context in which it is useful. Some of the important concepts of Management:-
Now, explain; Some information Concept of Management, what they are:
Management as an Economic Resource:
Like land, labor, capital, and entrepreneurship, management is a vital factor in production. It is management that coordinates various factors of production.
Management as a Team:
As a team or a group of persons, management consists of all those individuals who guide and direct the efforts of other individuals to achieve specified objectives.
Management as an Academic Discipline:
It has become a very popular subject of study as is evident from the great rush for admissions into institutes and universities imparting education and training in management.
Management as a Process:
Defining the aims or objectives of the organization, bringing together men, money, materials, machinery and other factors of production.
Effective motivation and democratic managerial leadership are the keys to sound management, management by participation, management by objectives or results and management by the delegation are helpful in getting things done through others.
Related Types of Question:-
A) What is Management?, B) What is the Concept of Management?, C) What is the Meaning of Management?, and D) What do you mean about Management?
#Types of Management:
The following types below are;
The top-level managers include boards of directors, presidents, vice-presidents, CEOs, general managers, and senior managers, etc. Upper-level managers are responsible for controlling and overseeing the entire organization.
Rather than direct the day-to-day activities of the firm, they develop goals, strategic plans, and company policies, as well as make decisions about the direction of the business.
Most organizations have three management levels: first-level, middle-level, and top-level managers. These managers are classified according to a hierarchy of authority and perform different tasks. In many organizations, the number of managers in each level gives the organization a pyramid structure.
Middle management is the intermediate leadership level of a hierarchical organization, being subordinate to the senior management but above the lowest levels of operational staff. For example, operational supervisors may be considered middle management; they may also be categorized as non-management staff, depending upon the policy of the particular organization.
Most organizations have three management levels: first-level, middle-level, and top-level managers. These managers are classified according to a hierarchy of authority and perform different tasks. Front-line managers belong to the first level of management. Frontline managers are managers who are responsible for a workgroup to a higher level of management.
They are normally in the lower layers of the management hierarchy, and the employees who report to them do not themselves have any managerial or supervisory responsibility. Front-line management is the level of management that oversees a company’s primary production activities.
Front-line managers provide critical value to a company’s success because they must motivate employees who perform essential production duties. They also must generate efficient productivity and control to minimize costs. Front-line managers are most often involved in operations (as opposed to marketing, accounting, finance, etc.).
Functional vs. General Management:
Functional management and general management represent two differing responsibility sets with an organization. Functional managers are most common in larger organizations with many moving parts, where different business functions are led by managers within those respective fields (i.e. marketing, finance, etc.).
General management is more common in smaller, more versatile, environments where the general manager can actively engage in every facet of the business.
Management in Different Types of Business: For-Profit, Non-Profit, and Mutual-Benefit.
All Things about Management, Concept of management, and Types of Management.