Definition of Management


Definition of Management

“Management is an art of getting things done through and with the people in formally organized groups. It is an art of creating an environment in which people can perform and individuals and can co-operate towards attainment of group goals.”

Management is a universal phenomenon for every individual and organization. It is the management that helps and directs an individual’s efforts towards a specific purpose.

According to F.W. Taylor, “Management is an art of knowing what to do when to do and see that it is done in the best and cheapest way”.

Management Defination

With proper management, one can attain a set of certain pre-determined goals. Management involves working with others to achieve organization’s goals by efficiently deploying limited resources in the evolving world. While goals may vary from one enterprise to another, a strategized plan implemented with proper management is a necessity. For instance, for one organization, it can be launching a new product through market surveys and for other it may be ROI increase by reducing cost.

  • According to George R. Terry, “Management Is a distinct process consisting of planning, organising, actuating and controlling; utilising in each both science and art, and followed in order to accomplish pre-determined objectives.”
  • According to Peter Drucker, “Management is a multi-purpose organ that manages business and manages managers and manages workers and work.”
  • According to Harold Koontz, “Management is the art of getting things done through and with people in formally organised groups.”
  • According to Peterson and Plowman, “Management may be defined as the process by means of which the purpose and objectives of a particular human group are determined, clarified and effectuated.’’
  • According to F.W. Taylor, “Art of knowing what you want to do and then seeing that it is done the best and cheapest way.

Creating an internal environment is a crucial part of Management. It is the responsibility of the management team to create appropriate circumstances that encourage maximum efforts so that peers or subordinates are able to perform their task efficiently. There is a definite process at various levels of management which includes ensuring the availability of raw materials, deciding the end-product, determining the wages and payrolls, evaluating the performances, formulation of rules & regulations, and much more.

Hence, it can be said that good management includes being effective as well as efficient. With effectiveness, we mean doing the tasks rightly, somewhat like ‘fitting the square pegs in square holes and round pegs in round holes’. On the other hand, being efficient means doing the task correctly at the minimalist cost with minimum wastage of resources.

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