Traits of Business Management

All activities performed by a manger to get things executed through others are known as management. In other words, management is to manage human and other resources tactfully for the achievement of organizational goals. It is universal in all organized activities. It is an train of harmonizing men, cash, machines, materials and methods towards fulfilling the defined objectives.

Check our list of characteristics of enterprise management

Goal oriented

Every organization is established for a particular objective. Management is an instrument or system that contributes for the environment friendly use of human and other resources to achieve predetermined objectives. The principle goal of enterprise management is to maximise productivity with optimum use of human effort.

Common activity

Management is essential the place human activity exists. The process of enterprise management may be completely different from group to organization but the basic rules of management are same. It may be said that the management rules are universally applicable.

Social process

Enterprise management is a part of social process. Management achieves its objectives by, with, and through the people. It utilizes human resources for the achievement of organizational goals. Management has to consider not only the organizational aims but also the social objectives. It has to fulfill the needs of staff within the organizational resources.

Dynamic/modifiable activity

Management is a dynamic and steady process. The management system of immediately might not be applicable or effective for tomorrow. Subsequently, management must be dynamic and versatile with the altering environment of the society. Management has to switch its model according to the time and situation. This flexibility is essential for a corporation to adjust with the altering environment of the business.

Group activity

The concept of business management is not applicable if there’s only one individual or proprietor. It represents a staff, class or section of people involved in numerous managerial functions. It’s essential if there is a group of individuals involved in performing any activity to achieve frequent goals. Management defines the authority, responsibility and procedures to perform particular work.

Distinct process

Management as a process entails varied types of functions. One function of management is interrelated with one other 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 truth that is experimentally proved. Equally, art is the personal skill and ability to use the scientific principles. Management is both science and art. It’s a science because it is predicated on some basic principles of universal application. It’s also an artwork because skill and ability is required for performing managerial functions.

A profession

Profession includes the specific type of work, adopted by special knowledge and education. With the development of joint stock firms and multinational companies the ownership and management has been different. Management of big organizations has been entrusted within the arms of professionals having specific skill and knowledge.

When you have just about any inquiries about wherever and tips on how to use certificate iv in business, you’ll be able to email us from the web-page.