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Chapter : 1
Nature and Significance of Management
Meaning
In simple words, Management is what a manager does within the organisation. All the activities whether related to decision making or implementation of such decisions, are performed by the managers with a purpose to achieve common organisational goals, known as management.
Now, when we talk about decision making it simply means identifying the best option among the various options available or we can say to select the best alternative among various available alternatives. For example: If the organisation has to give purchase order of 100 units then it will invite the quotations from various vendors (sellers) and the vendor with best quality standard and reasonable price will be selected and order will be placed.
Now, let us consider the example of implementation of decision. In the last example, after deciding the vendor to whom order is to be placed, selected vendor will be informed about the confirmation of order
and terms related to payment and supply of goods will be discussed.
Accordingly, vendor will supply the goods and organisation will make the payment, this is implementation of decisions made.
The main aim of every manager is to complete the task with minimum cost and within the time limit assigned for completing the task. Management is the process of getting things done
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from others with the aim of achieving goals efficiently and effectively. The role of management in the organisation is to guide the efforts of the people working in an organisation towards achieving a common objective.
Process
• Process refers to primary functions or activities which the management perform for getting things done. Management is the process of functions which the managers performs continuously or we can say it’s a never- ending process.
• These functions are planning, organizing, staffing, directing and controlling.
• The question arises what are these functions. Later on, we will study about these functions in detail but for your reference we can consider it with the help of an example—
Suppose XYZ Ltd. decided to launch a new smart phone, for this purpose it will plan that what should be the features of the phone? What should be the pricing of phone? What should be the marketing strategies? What should be the production plan? etc. known as planning. After this it will arrange the resources like funds, new plant and machineries etc. It will be called as organising. After this it will hire the team of professionals and other employees for the same which will be termed as staffing. After this, it will start the production, sales, marketing etc. and all the managers will perform the activities as per designed plans and will supervise their respective departments, termed as directing. At regular inter vals, ever y depar tment will prepare the per formance repor ts and performances will be evaluated on the basis of targets provided earlier, known as controlling.
Efficiency
• It means doing the right task with minimum resources. The main aim of every individual working in the organisation should be to maintain the efficiency i.e., to complete the task with the resources provided. For example: If the policy of the company allows expenditure of 2 percent for taking sales order and the sales person collected the order of ` 5,00,000 by spending 30,000 (i.e. 6%) than such sales person is not efficient.
• If by using less resources such as money, materials, equipment, labours etc. more benefits are derived then, it means efficiency has increased and vice-versa.
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Pervasive dimensionalMulti- Intangible
force
Group activity
Continuous process
Dynamic nature Goaloriented
Effectiveness
• It means doing the right task on time. If the target job is completed by the individual within the time frame allowed, such individual is said to be effective.
• For example : Dominos promises the delivery of Pizza within 30min. Now in this case if the Dominos is delivering the same within the time allowed, effectiveness has been maintained.
Sometimes, business concentrates on effectiveness but not on efficiency. For instance, a company’s target is to produce 20,000 units of goods. Due to power failure or some other reasons, manager operates double shift to produce 20,000 units which results in higher cost of production. In this case, manager is effective but not efficient because for completing the order manager has used comparatively more resources.
Characteristics of Management
My name is Management
1. Management is a goal oriented process :
(a) An organisation has some goals, which are the basic reasons for its existence. For example: The goal of Reliance Jio is to capture the telecom industry by offering low value data packs, free voice calls and SMS service etc.
(b) The purpose of management is to achieve the goals efficiently and effectively.
(c) The goals should be clear and simply stated to each member working for the organisation.
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2. Management is a group activity :
(a) Management is not a one man show. It’s a group activity and every individual working in the organisation fully knows his responsibilities and duties which he/she is expected to complete within the time frame allotted.
(b) Every individual joins the organisation with different and multiple needs also known as personal objectives, but work towards the achievement of organisation goals.
In other words, to provide best services in organisational interest is the prime responsibility of every individual associated with the organisation.
3. Management is an intangible force :
Management cannot be touch or seen but its presence can be observed, if the objectives are achieved as per targets. Satisfaction of stakeholders* is the guiding force of good management. For this purpose, the decision making of managers should be in the light of objectives to be achieved. Secondly, implementation of such decision should target both efficiency and effectiveness.
4. Management is all pervasive :
It is a pervasive function because it is applied in all types of organisations irrespective of its size (small scale, medium scale or large scale), purpose (profit earning or not for profit earning organisations) and in all levels (top, middle and lower level) of organisation.
For example : Lower level does day to day planning, middle level does departmental planning and top level does organisational planning.
5. Management is multi-dimensional :
Management is a complex activity with three main dimensions :
I. Management of work : Organisation exists for the performance of some work.
Management of work aims to manage the work i.e. which work to be performed at what time. For example: whenever a company decides to launch the product, following activities are performed in order—
(a) Market survey to know the needs of consumers.
(b) Developing product.
(c) Advertising the product and so on.
II. Management of people : Management of people implies management of individuals i.e. to allot authorities, responsibilities and establishing reporting relationships. It also includes that organisation should be optimally staffed,
*The terms stakeholder includes all those persons who are interested in business directly or indirectly. It includes customers, public, government, lenders, investors etc.
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understaffing and overstaffing may disturb the effectiveness and efficiency.
Managing people has two dimensions:
(a) Management of individual : It implies dealing with employees as individuals with diverse needs and behaviour i.e. managing personal objectives of individuals in the light of organisational objectives.
(b) Management of people : It implies dealing with individuals as a group of people i.e. to maintain coordination among individuals working at same level.
III. Management of operations : It is interlinked with both management of work and management of people. This has some basic products and services to provide in order to survive. For example: The main activity of banks is to provide loans and to take deposits from public but they are providing other activities like online banking, ATM services at no cost etc.
6. Management is a continuous process :
CONTROLLING ORGANISING
PLANNING
DIRECTING STAFFING
(a) Management is a process of continuous activities, but separate functions i.e.
planning, organising, staffing, directing and controlling.
(b) Management starts with organisation and ends with organisation.
7. Management is a dynamic function :
(a) In order to survive, management should make changes according to the business environment. Static and rigid business policies, no longer ensure the prosperity of any business. In order to ensure the regular growth, managers should make some changes in policies as per the requirements of stakeholders.
(b) For instance: Paytm is making the ventures with all types of business units such as schools, universities and other companies and professionals to provide single platform for all payment solutions. Another example is KFC which has launched the vegetarian menu to increase the market size in India.
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Objectives of Organisation/Responsibilities of Managers 1. Organisational objectives :
(a) Organisational objectives specifies the general interest of the organisation. Every organisation has set some basic goals which is the main reason of its existence.
(b) Every organisation has three basic objectives to achieve irrespective of its nature, size and extent of competition it is facing in the market. These are :
(i) Survival : Survival simply means “not getting killed by the competition”. In order to survive, management should generate enough revenues to cover cost.
In short run, the target should be to cover the variable costs incurred, but in long run both fixed and variable costs should be recovered. Managers compute breakeven sales on regular basis and initially, all the marketing efforts are put to achieve the breakeven sales. Breakeven sales represent the situation of no profit and no loss i.e. to cover expenses only.
(ii) Profit : Survival of business ensures the presence of business in the industry, but managers can’t take rest here. As the investors put their hard-earned money in the business, therefore they expect fair returns on such investments.
Management should earn reasonable profits so that they can provide fair return to shareholders. For this purpose, business needs to increase the customer base by providing competitive goods and services.
(iii) Growth : Managers should keep in mind that earning profits are good for the health of organisation but not the sole criteria. Every business idea is developed to make it large and operate beyond the boundaries. When the organisation operates at full capacity and even then, not able to compete with market demand, it gives the green signal for investing in bigger plants and grow big.
Growth of a business can be measured in terms of sales volume, increase in
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Profitability
Growth Survival
Organisational Objectives
the number of employees, the number of products or the increase in capital investment, etc.
Business uses the resources of society to achieve the organisational objectives. Therefore, society expects something in return for benefits, known as social objectives. Some objectives include creation of benefits for the society. These are
(a) Using friendly method of production.
(b) Improvement of community by providing basic facilities such as schools, hospitals etc.
(c) Supply of right quality product at reasonable prices.
(d) Financial support to community.
(e) Providing employment opportunities to weaker sections of the society.
Today, corporate social responsibilities (CSR) directly affect the public relations which has the direct impact on profitability of business.
3. Personal Objective
It is related with the individuals working in the organisation. An individual joins the organisation with diverse needs and satisfaction. Such needs motivate him/
her for increasing productivity. Management should satisfy their diverse needs such as
(a) Financial needs : Competitive salary and perks.
(b) Social needs : Peer recognitions.
(c) Higher level needs : Personal development and growth.
In the absence of personal objectives, individuals may have less interest in the work.
Importance of Management
As we know, management is necessary in all types of organisations, irrespective of size Growth can be broadly classified in
two forms—one is organic and another one is inorganic growth. When the organisation seeks to achieve the growth by customary practices i.e. increasing sales or reducing cost of production, it is known as organic growth. On the other hand, in the modern business environment there are other ways for growth like amalgamation known as inorganic growth.
2. Social Objectives
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and purpose. Therefore, importance of management can’t be ignored in organisation. Some of key points related to importance of management are discussed below :
(i) Management helps in achieving group goals :
(a) Every organisation have some goals and the achievement of these goals are necessary to survive in competitive environment. Individuals are required for performing various activities involved for achieving goals of organisation in effective and efficient manner.
(b) As we know, management is the process of getting things done from others with the aim of achieving goals, efficiently and effectively. Therefore, management helps in achieving group goals by providing common direction to the individual efforts.
(ii) Management increases efficiency :
(a) Efficiency simple means completing task with minimum cost. If by using the less resources, goals have been achieved then efficiency has been maintained.
It can also be seen as completing the task within standard cost allocated. For example: If the policy of company allowed expenditure of 2% for taking sales order and the sales person collected the order of ` 5,00,000 by spending
` 10,000 (i.e. 2%) then such sales person is efficient.
(b) Management focuses on increasing productivity* by proper utilisation of both human resources and physical resources. For this purpose, managers continuously perform various functions i.e. planning, organising, staffing, directing and controlling.
(c) Thus, management increases efficiency by minimising the cost and maximising the productivity through planning, organising, staffing, directing, and controlling.
(iii) Management creates dynamic organisation :
(a) Business environment is no more static in nature. Business needs to continuously observe the changes happening in its surroundings and keep on adapting the same. Failure to adapt the change may lead to failure of business. For example:
Nokia which was enjoying the monopoly situation in Indian telecom market, gets failed due to non-adaption of android in its devices.
*Productivity indicates input-output ratio i.e. how much inputs are required for achieving particular level of output. Increasing productivity means less inputs are required for output.
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(b) Managers keep a close watch on changes happening in surroundings and evaluate the impacts of such changes on business. This helps in policy formation and helps in survival and growth of business. For example : KFC, the fast food giant makes major changes in its menu to survive in Indian market.
(c) Thus, management helps in adaption of changes and maintaining competitive edge.
(iv) Management helps in achieving personal objective :
(a) Personal objectives mean the purpose with which individuals join the organisation. An individual joins the organisation with diverse needs and satisfaction of such needs motivate him/her for increasing productivity.
Organisation prosperity can’t be achieved by ignoring personal objectives.
(b) Managers should identify the needs of various individuals and the manner in which individuals can achieve such needs while working for organisational goals.
Various directing tools like leadership, supervision and motivational technique are used for achieving such objectives. Through motivation and leadership, management helps to develop team spirits, co-operation and commitment to group success.
(v) Management helps in the development of society :
(a) Among the various objectives of management, one of the main objectives is social objective i.e., to provide benefits to society in return of utilisation of its
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scarce resources. Good management ensures fulfillment of all legal provisions related to organisational product, consumers and other stakeholders. These help in development of better society.
(b) For example : In case of confectionary products, it is necessary for the organisation to provide information related to date of manufacturing, date of expiry, production place, ingredients etc. Management ensures prosperity of society by fulfilling all these legal provisions.
(c) Whenever, an organisation is set up or expands itself, it provides employment opportunities as well as adoption of new technology which helps in modernisation and reducing unemployment. Thus, good management ensures better inputs for the development of society.
Importance of Management in 21
stCentury
Working culture has changed drastically over the past decade. Companies are more global and employee groups are more diverse than ever before. Organisational structures are less hierarchical and more collaborative. Today’s networked offices are full of technological distractions that would have been unimaginable for the 20th-century managers. In short, boundaries between nation and cultures get blurred and new communication technology makes it possible to think the world as a global village. The scope of international and intercultural relationship is rapidly expanded.
Levels of Management
The term “Levels of Management’ refers to borderline between various managerial positions in an organisation. The number of levels in management increases when the size of the business and work force increases and vice versa. The level of management determines the amount of authorities, responsibilities and status enjoyed by any managerial position.
The levels of management can be classified into three broad categories:
✓ Top level / Administrative level.
✓ Middle level / Executory level.
✓ Lower level / Supervisory / Operative / First-line managers.
Lower level management Middle level management Top level management
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1. Top Level Management / Administrative Level Management
The top management is the supreme source of authority and it manages goals and policies of the organisation. Top level management devotes majority of time on planning and coordinating functions. It includes seniormost executives named Chief Executive Officer [CEO], President, Vice-President, Board of Directors, General Manager, Chairman or whatever name called. The job of the top level managers is complex and stressful in nature because it demands long hours of commitment towards the organisation.
Top level management performs the following functions:
(a) They set overall organisational objectives and policies of the organisation.
(b) They decide organisational goals and formulate an action plan for their achievement.
(c) Responsible for welfare and survival of the organisation.
(d) They appoint executives for middle level management i.e. departmental managers.
(e) They issue necessary instructions for preparation of departmental budgets, procedures, schedules etc..
(f) They coordinate the dissimilar activities of different departments.
(g) Review work of different departments and taking corrective action.
2. Middle Level Management / Executory Level Management
Middle level management works as a link between top level and lower level of management. It includes plant superintendent, operational manager, departmental head, departmental manager, branch manager, etc. They devote more time on organisational and directional functions. In small organisation, there is only one layer of middle level management but in big enterprises, there may be senior and junior middle level management. It is responsible for the functions performed by lower level management. Middle level works as superior for lower level management and subordinate of top level management. Middle level management performs following functions:
(a) Interpret the policies formed by top level management to lower level management.
(b) Coordinating with other department for the smooth functioning of the organisation.
(c) Ensure that their department has necessary personnel (staff/ employees).
(d) Assign necessary duties and responsibilities to the personnel.
(e) Encouraging personnel for the desired objectives.
(f) It also sends important reports and other important data to top level management.
(g) They evaluate performance of junior managers.
(h) They are also responsible for inspiring lower level managers towards better performance.
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3. Operational Management or Lower Level Management / Supervisory Management / First Line Managers
Lower level management is concerned with directing and controlling function of management. It includes inspectors, section officer, foremen, and supervisors.
Functions of lower level management are : (a) To plan day to day work.
(b) Assigning of jobs and tasks to various workers.
(c) Guide and instruct workers for day to day activities.
(d) To maintain discipline among the workers.
(e) Helps in maintaining team spirit.
(f) Welcome the suggestions for better working practices and production techniques.
(g) They help to solve the grievances of the workers.
(h) Supervision and guidance of the subordinates.
(i) Responsible for providing training to the workers.
(j) They arrange necessary materials, machines, tools etc. for getting the things done.
(k) Preparation of periodical reports about the performance of the workers.
Coordination—The Essence of Management
Coordination implies using different cultures or activities for common purpose. In management, coordination can be seen as systematic arrangement of various efforts made by individuals to achieve common organisational goals. Individuals join with different motives but work for the achievement of common organisational goals.
For example: Suppose ABC Ltd. has following departments :
(a) Purchase department for purchasing raw-materials and other supplies.
(b) Production department for producing output.
(c) Marketing depar tment for making sales.
Now, all the three departmental managers need to collaborate with each other for effective working of an organisation, like marketing manager will give the sales target on the basis of which production department will make the production budget and on the basis of production budget, purchase manager will design the purchase budget.
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Such communications with each other represents coordination. It is an intangible force which is necessary for smooth functioning of an organisation. In other words, coordinating means integrating the efforts. It is an orderly arrangement of dissimilar activities for the achievement of organisational goal. It makes all managerial functions meaningful. Coordination starts with top level management and required at all levels of management.
It will not be wrong to say that coordination is lifeblood of management. Sometimes coordination is considered as separate function of management but actually it is essence (soul) of management because it is integral part of every function of management. It can be understood with the help of following points :
(a) In planning, coordination is required between the master plans and the supportive plans of the various departments and personnel. For example: If the top-level target is to increase the sales by 10% in current financial year then departmental levels will also make the required changes in their plans.
(b) In organising, coordination is required between the various resources such as land, machine, finance and equipment. For example: number of machines to be purchased depends upon land and finance available with organisation. Also, coordination is required to establish relationship between authority and responsibility. For example: To enable the marketing manager to achieve the sales target it is necessary to provide him the authority to use some specific funds for advertisement expenditures.
(c) In staffing, coordination is required between the requirement of job and qualification of person. For example: For the post of finance manager, commerce background is mandatory.
(d) In directing, coordination is required between the motivation, leadership, communication and supervision. For example: managers are expected to have good leadership qualities and communication skills for getting things done from others.
(e) In controlling it is required between the set standards and actual performance.
For example: The targets should be achievable if all goes good. Setting hypothetical standard may decline the motivation level of workers.
Nature of Coordination
1. Coordination integrates group efforts :
(a) The purpose of coordination is to systematically combine the efforts of all the individuals working for an organisation.
(b) It directs the diverse and unrelated individual interest towards achievement of common organisational goals.
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(c) For example : Mr. X, Y and Z may have different interests while joining the ABC Ltd., but they all will work for achievement of common organisational goals due to presence of hidden force known as coordination.
2. Coordination is a continuous process :
(a) We have already discussed that management is a process of continuous activities, but separate functions i.e. planning, organizing, staffing, directing and controlling.
(b) Since, coordination is essence of management and required in all functions of management, therefore, coordination is not a one-time function but a continuous function. It begins at the stage of planning and continues till planning.
3. Coordination is all pervasive :
(a) Management is a pervasive function because it is applied in all types of organisations whatever its size (small scale, medium scale or large scale) or purpose (profit earning or not for profit earning organisations) and in all levels (top, middle and lower level) of organisation.
(b) Since, coordination is lifeblood of management, therefore, it is required at all types and levels of the organisation. It integrates efforts of all levels and departments.
4. Coordination is the responsibility of all managers :
It is the function of all managers.(a) Top level management : Coordinate to ensure that all the plans are carried out.
(b) Middle level management : Coordinate with top level management and lower level management.
(c) Low level management : Coordinate the work of workers to ensure that work is done according to the plan.
5. Coordination ensures unity of action :
(a) All individuals in the organisation perform different activities with common purpose i.e. to achieve organisational goals. The output of one individual becomes the input for other individual.
(b) For example : When banks receive application regarding loan, it is firstly transferred to credit department to check the credit worthiness of a person, thereafter file is transferred to surveyor and at the end bank manager sanction the loan amount.
Here all the individuals are performing different activities and output of one individual is becoming the input for other individual.
(c) Coordination acts as a binding force between departments. It ensures that all the actions aimed to achieve the organisational goals.
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6. Coordination is deliberate function of management :
(a) Coordination as a deliberate function of management implies that it is an unavoidable function to be performed by managers. It is not merely the compulsion for the managers to coordinate among various activities, rather coordination is lifeblood for all the functions of management.
(b) Coordination is necessary for achieving the organisational objectives. Without coordination, all efforts are like ship without radar. Coordinated efforts are more than aggregate of individuals’ efforts. For this, plans should specify the individuals’
authorities, responsibilities and accountability. This helps in maintaining coordination among various departments and personnel.
Coordination Vs Cooperation
(a) Cooperation refers to the voluntary collective efforts of various individuals working together in an organisation for achieving common goals. It is the result of voluntary action on the part of individuals. Coordination, on the contrary is the deliberate unity of action for the achievement of common purpose.
(b) For example : You frequently called Dominos and ordered Pizzas. One day you ordered, and as usual delivery boy came with order on time. But co-incidentally you are short of money. Delivery man called the manager (It is coordination), manager checked your past orders and instructed delivery boy to deliver the same and collect the money on next day. Meanwhile manager provided the money to delivery boy from his own personal account (It is cooperation).
(c) Cooperation is an informal concept whereas coordination is a formal concept.
(d) Coordination needs to be instructed by managers whereas cooperation is the result of self-motivation.
Relationship between Cooperation and Coordination
Cooperation in the absence of coordination may lead to wasted efforts and improper utilisation of resources and coordination without cooperation may lead to dissatisfaction among employees which may lead to high labour turnover. So, is coordination necessary when individuals willingly cooperate and work ? The answer is ‘yes’ because in such a situation, coordination gives direction to such willingness to work.
Nature of Management as a Science
Science is a systematic body of knowledge based on observations and experimentation.
Its principles are universally applicable like Newton’s first law of motion etc. The main features of science are :
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1. Universally applicable :
It is not like gravitational force is found in India only and not in USA or UK. Principles of science are universally applicable.
2. Observations and experimentation based :
Newton observed apple is falling and after experiment it was found, if force applied with particular object exceeds gravitation force then only it will move towards sky and in vice-versa situation it will fall towards ground. These principles are not developed overnight.
It requires long observations and many experiments to prove any scientific theory.
3. Cause and effect relationship :
Science principles clearly states “what likely to be” due to particular cause. For example:
Newton’s third law of motion states “every action has equal and opposite reaction”. Here
‘action’ is cause and ‘reaction’ is its effect.
4. Serve as a reliable guide for future prediction :
Science provides derivations which serve as reliable guide for future prediction. For example : If you have to travel 300 km in 5 hours then from what speed you should travel, the answer is simple 60km/hour.
Same as with management: Management consists of several principles which are derived through experimentation and observation. The features are:
1. Management principles are universally applicable :
(a) As we know, management is pervasive because it is applied in all types of organisations whatever its size (small scale, medium scale or large scale) or purpose (profit earning or not for profit earning organisations) and in all levels (top, middle and lower level) of organisation.
(b) Since management is all pervasive, principles of management are also universally applicable. For example : Division of work is necessary in all types of organisations.
2. Based on experimentation and observation :
(a) Management principles are developed on the basis of experimentation and observation. It helps in developing better working environment for individuals and increases productivity by proper utilisation of resources. So, it provides guidance for achieving goals of organisation.
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(b) For example : In any organisation, employees feel tiredness after working for particular number of hours and needs rest to regain the stamina. Now, the question is what should be the duration of rest and after how many hours it should be provided? It is determined after long observations.
3. Cause and effect relationship :
(a) Management principles establish cause and effect relationship. It means every decision of manager impacts the organisation either favourably or in adverse manner.
(b) For example : principle of authority and responsibility. If the manager provided the authority to individuals without any sense of accountability, then it will lead to the irresponsible behaviour on their part which may affect the goodwill of the organisation.
4. Serves as a reliable guide :
(a) As the principles of management are based on experiments and observation.
Therefore, the results of these principles are exact and predictable.
(b) For example : In case of dual boss policy of organisation, employees may not be able to concentrate on work and indiscipline is likely to arise.
Conclusion
So, it is concluded that management is a science but not a complete science because in management, manager deals with human behaviour and human behaviour is unpredictable. So, management is considered to be behaviour science or soft science.
Since the principles of management are not exact as the principles of science, their application and use is also not universal. It need to be reshaped according to situations. However, they provide managers with certain standardised solutions and techniques that can be used in different situations.
Nature of Management as Profession
Profession is a type of job that requires special education, training or skill. In technical words, profession is a specialised body of knowledge which requires long academic preparations which is taught in universities and institutions etc. and entry is regulated by some representative association. The features are:
1. Well defined body of knowledge
Every profession is a well-defined body of knowledge i.e. the core teachings, skills and research.
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2. Entry into any profession is restricted :
For becoming the professional, every person needs to intensively learn the concepts of such field. No one can enter into profession without passing systematic series of test. For example : To become a lawyer, one must take the LLB qualification only then he will get the certificate from Bar Association.
3. It has representative associations :
Every profession has representative associations which regulates the functioning of its members. It also updates the professionals for the changes happening in the field of working and designed the pattern for entering into such profession.
4. The main purpose is to serve the community :
The main purpose of every profession is to serve the society in ethical manner.
Profession is not the business where the professionals will measure all aspects from money.
For professionals, ethical working is priority over income from such profession.
5. It has specified code of conduct :
Every profession has certain rules and regulations from which the professionals of such field are bound.
For example : A chartered accountant can’t disclose the financial information of his/
her client.
Same as in case of management 1. Well defined body of knowledge :
Management is not a simple job which any one can perform after taking the training of small period. Jobs of managers are becoming complex day by day. After long and continuous research, specialised learnings and skills have been developed in the field of management which are taught in institutions for imparting the knowledge of management.
2. Restricted entry :
As we discussed, managers’ jobs are becoming complex day by day and one must have specialised knowledge to become successful manager. Like professions, no one can enter into management profession without going through prescribed course of learning. For instance—Today one should have MBA qualification to become a manager.
3. Professional associations :
Like other professions, managers also formed association for regular change and experience. For example : All India Management Association.
4. The main purpose is to serve the community :
Every manager has the obligation to fulfill social objectives of business in the absence
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of which organisation may enjoy less public relations. Working ethically and making reasonable profits by satisfying the consumer needs in best possible manner is the prime obligation of every manager.
5. Specified code of conduct :
Management has to follow a code of conduct which contains rules and regulations regarding professional ethics. There are several environmental laws, consumer laws and taxation laws which the managers need to carefully abide.
Conclusion
Management is a profession but it is not a full fledge profession like other professions (Chartered accountant, Lawyers) because the entry into management is not restricted by law and also professional association of managers has no legal acceptability like Bar Association.
There is no restriction on anyone being designated or appointed as manager in any organisation. Anyone can be called a manager irrespective of the educational qualifications possessed. However, management is assuming the role of profession due to intense global competition and increasing transparency between stakeholders.
Nature of Management as an Art
Art refers to the skillful and personal application of existing knowledge to achieve desired results. It can be acquired through study, observation and experience.
Basic features of an Art :
1. Existence of theoretical knowledge :
(a) Art presumes the existence of certain theoretical knowledge. Lot of literatures are available in every field of art like dancing, public speaking, teaching etc.
(b) For learning any art, artisan needs to go through the theoretical knowledge associated with such art only then he/she can work on its different fields. For example : For learning dance, firstly one should aware about various dance styles, related music etc.
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2. Personalised applications :
(a) Every individual learns the same theoretical knowledge of art but the manner to practically apply the same remain different.
(b) It depends on the personal creativity, innovations and experience in such field. For example : Generally, teaching style of two teachers can’t be same, two motivators can’t motivate in same manner etc.
(c) The use of theoretical knowledge varies from individual to individual. Art, therefore, is a very personalised concept.
3. Based on practice and creativity :
(a) What distinguishes a successful artisan from a less successful one is the ability to put theoretical knowledge into practice. Perfection in any art can be achieved only by practice. Some amount of creativity and innovations are also necessary for taking the edge over others.
(b) More you will research, more you will get the benefits in your working area. For example : In case of public speaking, manner to hit the emotional aspects of audience decides the fan following of speaker and this can be improved after lots of practice, research and innovations.
Management is also an art because :
1. Existence of theoretical knowledge :
(a) There is a lot of literature available in various fields of management like administration, marketing, finance etc. in which the manager has to specialise in.
These theories are developed on the basis of observations of various management experts.
(b) Learning these theories help potential managers in providing readymade solutions for various problems that may face in practical scenario.
2. Personalised applications :
(a) Management students learn the same theories but the manner to practically apply the same remain different. It depends on the personal communication skills, experience with seniors etc.
(b) The use of management theories by various managers is highly dynamic and can’t be used in isolated manner.
3. Based on practice and creativity :
(a) A newly qualified manager initially applies the theoretical knowledge in respective working areas and adopt changes on the basis of results obtained. In simple words, as the practice of manager increases his effectiveness and efficiency also increases due to their personal experiences.
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(b) Business works in dynamic environment, and to maintain good relations with stakeholders it becomes necessary for the managers to adopt creativity in regular practices. For example : Lloyd has launched App. for its customers where they can directly book the AC service in just 10 seconds and can track their request on real time basis.
Conclusion
Management is an art because it satisfies all conditions of art i.e. existence of theoretical knowledge, personal qualities to implement theories and creativity and practice to achieve perfection.
☞ Previous Years Examination Questions
1. List any two organisational objectives of management. (CBSE Delhi 2010) 2. Volvo Ltd.’s target is to produce 10,000 shirts per month at a cost of ` 100 per shirt. The Production Manager achieved this target at a cost of ` 90 per shirt. Do you think the
‘Production Manager’ is effective ? Give one reason in support of your answer.
(CBSE Delhi 2010) 3. Is ‘management’ a full fledged ‘profession’ ? Give any three reasons in support of your
answer. (CBSE Delhi 2010)
4. List any two social objectives of management. (CBSE Delhi & Outside 2010, 2011) 5. Is management a ‘science’ ? Give any three reasons in support of your answer.
(CBSE Delhi 2010) 6. List any two personal objectives of management. (CBSE Delhi & Outside 2010) 7. Is management an ‘art’ ? Give any three reasons in support of your answer.
(CBSE Delhi 2010) 8. Hero Ltd.’s target is to produce 10,000 shirts per month at a cost of ` 150 per shirt. The Production Manager could achieve this target at a cost of ` 160 per shirt. Do you think the Production Manager is ‘effective’ ? Give reasons in support of your answer.
(CBSE Outside 2010) 9. “Art is concerned with personal application of knowledge”. In the light of this statement,
compare all the features of art with management and prove that it is an art.
(CBSE Outside 2010) 10. List any two organisational objectives of management. (CBSE Outside 2010) 11. Your grandfather has retired as the Director of a manufacturing company. At which level of management was he working ? Different types of functions are performed at this level.
State any one function. (CBSE Delhi 2011)
12. What is meant by management ? (CBSE Delhi 2011)
13. “Management is regarded as an Art by some, as Science or as an inexact Science by others.
The truth seems to be somewhere in between.” In the light of this statement explain the true nature of management. (CBSE Delhi & Outside 2011)
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14. What is meant by ‘Effectiveness’ in management ? (CBSE Delhi 2011) 15. What is meant by ‘Universal applicability’ of principles of management ?
(CBSE Delhi 2011) 16. “Coordination is the orderly arrangement of group efforts to provide unity of action in the pursuit of a common purpose.” In the light of this statement explain the nature of
coordination. (CBSE Delhi 2011)
17. Your grandfather has retired from an organisation in which he is responsible for implementing the plans developed by the top management. At which level of management was he working ? State one more function performed at this level. (CBSE Outside 2011) 18. “Management is a profession like medical or legal profession.” Do you agree with this statement ? Give any five reasons in support of your answer. (CBSE Outside 2011) 19. Name the type of plan which is time bound and linked with measurable outcome.
(CBSE Delhi 2012) 20. Identify the nature of management when it is said to be a systematised body of knowledge
that explains certain general truths. (CBSE Delhi 2012)
21. At which level of management the managers are responsible for the welfare and survival
of the organisation ? (CBSE Delhi & Outside 2012)
22. What is meant by ‘coordination’ ? How it ‘integrates group efforts’ and ‘ensures unity of
action’ ? Explain. (CBSE Delhi 2012)
23. Give the meaning of management and explain how it creates a dynamic organisation and
helps in the development of society. (CBSE Delhi 2012)
24. Identify the nature of management at which the managers are responsible for implementing and controlling the plans and strategies of the organisation. (CBSE Outside 2012) 25. Explain how management ‘increases efficiency’ and ‘helps in the development of society’.
(CBSE Outside 2012) 26. Explain any five features of ‘coordination’. (CBSE Outside 2012) 27. State any three organisational objectives of management. (CBSE Delhi (Comptt.) 2012) 28. ‘Management does not have some features of a profession’. Explain those features.
(CBSE Delhi (Comptt.) 2012) 29. State why planning is called a pervasive function of management.
(CBSE Outside (Comptt.) 2012) 30. Explain any three points of importance of co-ordination.
(CBSE Outside (Comptt.) 2012) 31. ‘It is important for management to achieve its goals effectively and efficiently’. Explain.
(CBSE Outside (Comptt.) 2012) 32. At which level of management directing takes place ? (CBSE Delhi 2013) 33. Describe any five reasons which clarify that management is gaining importance
day-by-day. (CBSE Delhi 2013)
34. Explain any five characteristics of coordination. (CBSE Delhi 2013) 35. Explain any five features of management. (CBSE Delhi 2013)
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36. State any five features of ‘coordination’. (CBSE Outside 2013) 37. State any five characteristics of management. (CBSE Outside 2013) 38. State any five points which highlight the importance of management.
(CBSE Outside 2013) 39. ‘One of the objectives of management is to consistently create economic value for various
constituents of the society.’ Give two examples of this objective.
(CBSE Delhi (Comptt.) 2013) 40. State any four points of importance of management. (CBSE Delhi (Comptt.) 2013) 41. State any four characteristics of coordination.
(CBSE Delhi & Outside (Comptt.) 2013, 2014) 42. State any four points that highlight the characteristics of management.
(CBSE Delhi (Comptt.) 2013) 43. “One of the organizational objectives of management is ‘Growth of a business.” How can
growth of a business be measured ? Give any two examples.
(CBSE Outside (Comptt.) 2013) 44. State any four points which highlight the importance of management.
(CBSE Outside (Comptt.) 2013) 45. State any four characteristics of profession. (CBSE Outside (Comptt.) 2013) 46. What is meant by ‘Management of people’ ? (CBSE Delhi 2014) 47. XYZ Power Ltd. set up a factory for manufacturing solar lanterns in a remote village as there was no reliable supply of electricity in rural areas. The revenue earned by the company was sufficient to cover the costs and the risks. The demand of lanterns was increasing day by day, so the company decided to increase production to generate higher sales. For this they decided to employ people from the nearby villages as very few job opportunities were available in that area. The company also decided to open schools and creches for the children of its employees.
(i) Identify and explain the objectives of management discussed above.
(ii) State any two values which the company wanted to communicate to the society.
(CBSE Delhi 2014) 48. What is meant by ‘Management of Work’ ? (CBSE Outside 2014) 49. Mega Ltd. was manufacturing water-heaters. In the first year of its operations, the revenue earned by the company was just sufficient to meet its costs. To increase the revenue, the company analysed the reasons of less revenues. After analysis the company decided :
(i) to reduce the labour cost by shifting the manufacturing unit to a backward area where labour was available at a very low rate.
(ii) to start manufacturing solar water-heaters and reduce the production of electric water- heaters slowly.
This will not only help in covering the risks, but also help in meeting other objectives too.
(a) Identify and explain the objectives of management discussed above.
(b) State any two values which the company wanted to communicate to the society.
(CBSE Outside 2014)
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50. Identify the basic characteristic of management involved in the statement—‘The activities involved in managing an organisation are common to all organisations, whether economic,
social or political.’ (CBSE Delhi (Comptt.) 2014)
51. ‘The skillful and personal application of existing knowledge to achieve desired results is called art.’ In the light of this statement, describe whether management is an art or not.
(CBSE Delhi (Comptt.) 2014) 52. ‘Science is a systematized body of knowledge that explains certain general truths or the operation of general laws.’ In the light of this statement, describe whether management is
a Science. (CBSE Delhi (Comptt.) 2014)
53. Name the level of management that is responsible for the welfare and survival of the
organisation. (CBSE Outside (Comptt.) 2014)
54. What is meant by ‘coordination’ ? Explain why coordination is important in an organisation.
(CBSE Outside (Comptt.) 2014) 55. ‘Coordination is the essence of management.’ Explain how. (CBSE Outside (Comptt.) 2014) 56. What is meant by ‘efficiency’ in management ? (CBSE Delhi (Comptt.) 2015) 57. How does management help in achieving personal objectives ? State. (CBSE Delhi 2015) 58. What is meant by ‘coordination’ in management ? (CBSE Delhi 2015) 59. What is meant by ‘effectiveness’ in management ? (CBSE Delhi 2015) 60. Explain, how management helps in the development of society. (CBSE Outside 2015)
61. Define ‘coordination’. (CBSE Outside 2015)
62. How does coordination integrate group efforts ? State. (CBSE Delhi (Comptt.) 2015) 63. Aman, Ahmad and Ally are partners in a firm engaged in the distribution of dairy products in Maharashtra state. Aman is a holder of Senior Secondary School Certificate from Central Board of Secondary Education with Business Studies as one of his elective subjects. Ahmad had done his post graduation in History and Ally in dairy farming. One day there was a serious discussion between Ahmad and Ally regarding the nature of management. Ahmad argued that management was a profession. Whereas Ally argued against it saying that the legal and medical profession are the only professions because they fulfill all the conditions of profession. Aman on the basis of his knowledge of Business Studies explained the nature of management as a profession to Ahmad and Ally.
Explain, how Aman would have satisfied both Ahmad and Ally.
(CBSE Delhi (Comptt.) 2015) 64. Why is management called an intangible force ? State. (CBSE Outside (Comptt.) 2015) 65. At which level managers are responsible for coordination ? State.
(CBSE Outside (Comptt.) 2015) 66. ‘Management is the process of getting things done.’ State the meaning of the term ‘process’
used in this statement. (CBSE Delhi 2016)
67. Explain any four points of importance of management. (CBSE Delhi 2016) 68. ‘Is management concerned only with doing the right task, completing activities and achieving goals without taking into consideration the cost benefit ?’ Give reason in support of your
answer. (CBSE Outside 2016)
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69. What is meant by ‘management’ ? Explain its any three features that establish it as an art.
(CBSE Outside 2016) 70. Describe any four characteristics of ‘coordination’. (CBSE Outside 2016) 71. Explain the features of management that do not establish it as a profession.
(CBSE Outside 2016) 72. Define management. Explain the features that establish it as a social science.
(CBSE Outside 2016) 73. Shiva Computers Ltd. is a leading company in Computer Technology and IT services.
The CEO of the company attributes the success of the company to its managerial team spirit, which have helped to handle rapid changes in technologies and to transform threats into opportunities. Like any other business enterprise profits are important for survival and growth of Shiva Computers Ltd. The management of the company believes that a satisfied employee creates a satisfied customer; who in turn creates profits that lead to satisfied shareholders.
The company has a strong sense of social responsibility. It has set up many educational institutions in the field of management, engineering and computer education, in which half of the students are girls.
On the basis of the given information about Shiva Computers Ltd. answer the following :
(a) Identify and explain the objectives of the company discussed in the above para. Also quote the lines for the identified objectives.
(b) Identify any two values which the company is trying to communicate to the society.
(CBSE Delhi & Outside (Comptt.) 2016) 74. State any three features of coordination. (CBSE Delhi (Comptt.) 2016) 75. Why is management an intangible force ? State. (CBSE Delhi (Comptt.) 2016) 76. ‘Art is the skillful and personal application of existing knowledge to achieve desired results and some kind of ingenuity and creativity is required to practice its basic principles learnt’.
Pick up points from the statement and explain the same to prove that management is an
art. (CBSE Outside (Comptt.) 2016)
77. Briefly describe the organisational objectives of management.
(CBSE Outside (Comptt.) 2016) 78. Ashutosh Goenka was working in ‘Axe Ltd.’, a company manufacturing air purifiers. He found that the profits had started declining from the last six months. Profit has an implication for the survival of the firm, so he analysed the business environment to find out the reasons for this decline.
(a) Identify the level of management at which Ashutosh Goenka was working.
(b) State three other functions being performed by Ashutosh Goenka. (CBSE Delhi 2017) 79. Rishitosh Mukerjee has recently joined AMV Ltd., a company manufacturing refrigerators.
He found that his department was under-staffed and other departments were not cooperating with his department for smooth functioning of the organisation. Therefore, he
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Quick Test-1
1. An educational institution as well as a business organisation both need to be managed.
Which characteristic of management is highlighted here ?
2. “In an organisation, the employees are happy and satisfied, there is no chaos and the effect of management is noticeable.” Which characteristic of management is highlighted by this statement ? 3. In order to be successful an organisation must change its goals according to the needs of
environment. Which characteristic of management is highlighted here ? 4. Management is multi-dimensional. Give any two dimensions of it.
5. Which feature of management is highlighted when it is said that it is present in all types of organisations and at all levels ?
6. One of the objectives of management is to consistently create economic value for various constituents of the society. Give two examples of this objective.
7. Ram Ltd. is a company producing fans. The company’s profits are enough for the survival and growth. The management of the company believes that a satisfied employee creates a satisfied customer, who in turn creates profits that lead to satisfied shareholders. So, it pays competitive salaries and perks to all its employees. All the employees are happy working in the organisation because of personal growth and development.
The company has a strong sense of social responsibility. It has set up an Engineering College in which one-third of the students are girls to whom the company gives 70% scholarship.
Is the management of Ram Ltd. fulfilling its objectives ? Justify your answer by giving reasons.
8. Give one feature of profession (a) satisfied by the management, (b) not satisfied by the management.
9. At which level of management are the managers responsible for the welfare and survival of the organisation ?
10. Managers at the top level spend more time doing this function of management. Name it.
ensured that his department has the required number of employees and its cooperation with other departments is improved.
(a) Identify the level at which Rishitosh Mukerjee was working.
(b) Also, state three more functions required to be performed by Rishitosh Mukerjee at this
level. (CBSE Outside 2017)
80. Is management a science ? Explain. (CBSE Outside (Comptt.) 2017)
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Quick Test-2
1. Shyam is working as Regional Manager in XYZ Ltd. Name the level at which he is working.
2. Name the level at which the managers are responsible for implementation and controlling the plans and strategies of the organisation ?
3. Identify the functions of the management :
(a) Motivating employees and giving instructions to them to perform the tasks assigned to them.
(b) Recruitment and selection of the personnel.
(c) Finding out deficiencies in implementation of plans.
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4. Name the process that synchronises the activities of different departments.
5. Mention two elements of coordination.
6. “Planning, Organising, Staffing, Directing and Controlling is the sequence of functions in a process”. Name it.
7. Which force binds all other functions of management ?
8. Radhika Ltd. uses environment friendly methods of production. Identify the objective it is trying to achieve.
9. Mr. Gaurav is working as the Finance Manager of XYZ Ltd. At what level of management is he working ? State any two functions being performed.
10. The General Manager of ‘Radhaswami Kidswear Limited’, Mr. Sahil Radhaswami, has divided all the employees of his company into three levels (Top level, Middle level and Lower level). At the Top Level the General Manager and Board of Directors themselves work. The Middle Level work is looked after by the four departmental managers like the Production Manager, Purchase Manager, Sales Manager and Finance Manager.
The Lower Level is constituted of one supervisor for each of the four departments. These supervisors look after the daily activities of their subordinates.
Often, it is observed that the managers of all levels remain busy sometimes with the planning of their respective departments and sometimes with the comparison of the desired and actual results. Similarly, sometimes they are busy with the Recruitment, Selection and Training of the employes and sometimes with their motivation.
Mr. Sahil knows it very well that the job of management cannot be done by a single person alone, but when all join hands to work together the meaning of management is realised.
This is why he makes all his efforts to effect coordination in the activities of all his employees.
All the employees are working with the team spirit.
In the above paragraph two special features of management have been described. Identify them by quoting the relevant lines and explain them.
❏ ❏
