Today, we will be taking a look at one of the core components of management. We will find out about the nature of management and attempt to define its scope. If you have stumbled upon this article, I will be assuming that you are either curious about management or you are a student of management or both.
Do not worry as we will be taking a deep dive considering the fact that we provide something of value to all of our viewers. Without further ado, let’s get into the article and try to understand the core elements of management.
What is Management?
Before we begin defining the nature of management, it is essential that we define management in layman terms. Management is an essential function in any organization, whether it’s small or large, for profit or non-profit enterprise, management is needed everywhere.. It involves planning, organizing, staffing, leading, and controlling the organizational resources effectively and efficiently to achieve specific goals and objectives.
Nature of Management
Now that we have a clear understanding on what management is, we will attempt to figure out the nature of management. The nature of management refers to the sumtotal of all its characteristics or attributes which define it as a discipline.There are multiple elements of management. We will be taking a look at some of the most common ones today.
Some of the major features of management are as follows:
Goal-oriented: The main objective of management is to achieve a very specific goal or a number of closely interconnected goals. Studying management as a discipline enables a manager to achieve these goals by minimizing the resource consumption of an organization. It also helps the manager to complete these objectives on time.
Continuous: In our lives, we find that everything has a beginning and an end. This is true for every activity but management is a bit different in this regard. It is a continuous process that requires attention and effort. When one stage is completed, the organization moves to the other step and it creates an endless loop. This may sound unpleasant and repetitive but it ensures that the business organization runs smoothly for an extended period of time
Decision-making: Making decisions is a tough task for any manager. The manager must ensure that all stakeholders within the organization are satisfied. To ensure that there is a level of harmony among team members, managers utilize management principles to assist them in making decisions.
Complex: Since management involves dealing with multiple variables, we can make a fair assumption that it is a complex process. These variables include people, resources, and processes. There is a need in the business enterprise to coordinate and manage these resources efficiently or the business firm will not be able to function.
Interdisciplinary: Management is a field where people of diverse academic backgrounds take part in the process. It is not homogenous at all. Therefore, it involves applying principles from various fields such as finance, marketing, accounting, human resources and consulting.
Scope of Management
We have now dealt with the meaning and nature of management principles. We will continue with a hope that you fully understood the nature of management. Now, we will be taking a closer look at the scope of management. The other essential part is the scope of management. It refers to the wide range of activities or functions that are included under the umbrella of management.
Let us take a closer look and try to understand what comes under the scope of management. Some of the key areas are as follows:
1. Planning: Planning is the first thing any business venture undertakes. This stage is closely associated with brainstorming ideas. These ideas result in the formation of strategies and plans. These plans help the business organization to achieve their predetermined goals and objectives.
2. Organizing: After the plans have been laid out, the organizing stage comes into the picture. Managers organize resources to help them run their business operations. This involves finding the right people for the right job, acquiring equipment and machinery, and gaining all the required information. When these steps are properly coordinated, it ensures the efficient functioning of an organization.
3. Leading: The goal of any good manager is to ensure that they are able to lead their employees to their maximum potential. This task can be accomplished by being familiar with the management principles. A good leader is someone who is able to make the most out of their team while being a good friend and a reliable manager.
4. Controlling: Another key goal of a competent manager is to establish standards for performance. When the actual performance debates from the standard performance, the manager along with his/her team takes corrective measures. This allows them to reach the organizational objects on time and reduce resource wastage.
5. Coordination: Management is not a solo activity. It is a process which requires multiple people across different positions to work together to make things happen. Therefore, there needs to be coordination among the different departments. If all departments including marketing, production, sales, HR, etc coordinate their activities for the betterment of the business, the business goals will be achieved with relative ease.
Conclusion
I hope that you were able to take away something informative from this piece on the nature and scope of management. To sum it all up, management is the sum total of all the activities which occur within an organization. It is important to note that management is required everywhere in one form or another. Having a good grasp on management principles can help everyone regardless of their profession. If you have any questions, feel free to drop them in the comments below.