CONCEPT OF MANAGEMENT

CONCEPT OF MANAGEMENT

To understand the concept of strategic management, we need to have a basic understanding of the term management. the term ‘management’ is used in two senses such as:

(a) It is used with reference to a key group in an organisation in-charge of its affairs. In relation to an organisation, management is the chief organ entrusted with the task of making it a purposeful and productive entity, by undertaking the task of bringing together and integrating the disorganised resources of manpower, money, materials, and technology into a functioning whole.
an organisation becomes a unified functioning system when management systematically mobilises and utilises the diverse resources efficiently and effectively. The survival and success of an organisation depend to a large extent on the competence and character of its management. Management has to also facilitate organisational change and adaptation for effective interaction with the environment.

(b) the term ‘Management’ is also used with reference to a set of interrelated functions and processes carried out by the management of an organisation to attain its objectives. these functions include Planning, Organising, directing, Staffing and control. the functions or sub-processes of management are wide- ranging but closely interrelated. They range all the way from determination of the goals, design of the organisation, mobilisation and acquisition of resources, allocation of tasks and resources among the personnel and activity units and installation of control system to ensure that what is planned is achieved.

Conclusion: Management is an influence process to make things happen, to gain command over phenomena, to induce and direct events and people in a particular manner. Influence is backed by power, competence, knowledge and resources. Managers formulate organisational goals, values and strategies, to cope with, to adapt and to adjust themselves with the behaviour and changes in the environment.