Nature and Significance of Management
What management is
Define management and tell effective from efficient work.
Every organisation, a business, a school, a hospital or a club, has goals, and people working together to reach them. Management is the process of getting things done, through others, to achieve goals effectively and efficiently.
Three words in that definition matter:
- Process: management is a series of functions: planning, organising, staffing, directing and controlling.
- Effectively: doing the right task, completing it, and achieving the goal. It is about the end result.
- Efficiently: doing the task correctly, at minimum cost. It means getting more output from fewer inputs: money, materials, equipment and people.
A manager needs both. A factory that meets its target of 2,000 chairs, but by wasting wood and paying for overtime, is effective but not efficient. A factory that saves on every cost but misses its delivery date is efficient but not effective. Good management is the right job, done the right way.
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