Page 15 - DCOM102_DMGT101_PRINCIPLES_AND_PRACTICES_OF_MANAGEMENT

Unit 1: Introduction to Management

1.4 Purpose of Management Notes

The purpose of management can be understood as following:
1. Reducing ambiguity in methods of working,

2. Keeping costs down, and motivating others to do the same.
3. Taking calculated risks
4. Managing prospective risk
5. Exercise good judgement

Task Illustrate an example of managerial activities you ever involved in and
enlist the purposes of each of them.
1.5 Characteristics of Management

Management is a distinct activity having the following salient features or characteristics:
1. Economic Resource: Management is an important economic resource together with land,
labour and capital. As industrialization grows, the need for managers increases. Efficient
management is the most critical input in the success of any organised group activity as it
is the force which assembles and integrates other factors of production, namely, labour,
capital and materials.
2. Goal Oriented: Management is a purposeful activity. It coordinates the efforts of workers
to achieve the goals of the organisation. The success of management is measured by the
extent to which the organisational goals are achieved.

3. Distinct Process: Management is a distinct process consisting of such functions as planning,
organising, staffing, directing, and controlling. These functions are so interwoven that it
is not possible to lay down exactly the sequence of various functions or their relative
significance.
4. Integrative Force: The essence of management is integration of human and other resources
to achieve the desired objectives. Managers seek to harmonize the individuals goals with
the organisational goals for the smooth working of the organisation.

5. Intangible Force: Management has been called an unseen force. Its presence is evidenced
by the result of its efforts – orderliness, informed employees, buoyant spirit and adequate
work output. Thus, feeling of management is result-oriented.

6. Results through Others: The managers cannot do everything themselves. They must have
the necessary ability and skills to get work accomplished through the efforts of others.
They must motivate the subordinates for the accomplishment of the tasks assigned to
them.

7. A Science and an Art: Management has an organised body of knowledge consisting of
well defined concepts, principles and techniques which have wide applications. So it is
treated as a science. The application of these concepts, principles and techniques requires
specialized knowledge and skills on the part of the manager. Since the skills acquired by
a manager are his personal possession, management is viewed as an art.

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