Nature/Features of Management

1. Art as well as science

1.1. Old ART

1.2. Social SCIENCE

1.3. Social SCIENCE

2. Social Process

2.1. Responsible for effective & Economic planning & regulation of operations

3. A resource

3.1. Management MOVER & development CONSEQUENCE-P.F. Drucker

4. Intangible/Invisible

4.1. Felt by RESULTS-Invisible Process of objectives fulfillment

5. System/Process of delegation of authority

5.1. System of Authority-Media of implementation of the Rules

5.2. Lower levels follow directions of Top level

6. Dynamic social science

6.1. Changes with the change in society

6.2. Consists of Planning, Organizing, staffing, Directing, coordinating, motivating & controlling

7. provides ways to for development of SKILLS

7.1. Training & Development leads to

7.2. increases efficiency & productivity of employees

8. combination of different elements/factors

8.1. Man, Materials, Markets, Method, Machinery, Money, Motivation, etc

8.2. Co-ordinate them properly-Attain MAXIMUM RESULTS with MINIMUM EFFORTS

9. means of HRD

9.1. improve working environment

9.2. stimulate workers to do better things

9.3. satisfy employees needs

9.4. provide favorable actions

10. Purposeful/Goal-orientated process

10.1. MBO-Peter Drucker in his 1954 book The Practice of Management.

11. Group Efforts-Activity

12. Process of getting things done by others

12.1. HRs used to achieve desired obj. of Org.

13. Universal-Applied in all types of Org.

13.1. needed at all levels-TOP to BOTTOM

14. Multi-disciplinary facets

14.1. Admixture of different Knowledges

14.2. Psychology, sociology, economics, ecology, statistics, etc.

15. Relative principles-not absolute

15.1. determined & applied on the basis of

15.2. Place, Time & Socio-Cultural Factors

16. has professional traits

17. continuous process

18. Supreme in thought & action

18.1. Plans-ACTIONS

18.2. Organizes & implements-ACTIONS

18.3. Co-ordinates & Controls-ACTIONS