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Characteristics of Business Management
All activities performed by a manger to get things done through others are known as management. In other words, management is to manage human and other resources tactfully for the achievement of organizational goals. It's common in all organized activities. It's an exercise of harmonizing males, money, machines, supplies and strategies towards fulfilling the defined objectives.
Check our list of characteristics of business administration
Every group is established for a selected objective. Management is an instrument or system that contributes for the environment friendly use of human and other resources to achieve predetermined objectives. The main objective of enterprise management is to maximize productivity with optimum use of human effort.
Administration is essential the place human activity exists. The process of business management could also be totally different from organization to group but the fundamental rules of administration are same. It can be said that the management ideas are universally applicable.
Enterprise administration is a part of social process. Administration achieves its goals by, with, and thru the people. It utilizes human resources for the achievement of organizational goals. Management has to consider not only the organizational goals but additionally the social objectives. It has to fulfill the needs of workers within the organizational resources.
Administration is a dynamic and continuous process. The management system of right now might not be applicable or effective for tomorrow. Subsequently, administration should be dynamic and versatile with the altering surroundings of the society. Management has to change its fashion based on the time and situation. This flexibility is essential for a corporation to adjust with the altering atmosphere of the business.
The idea of enterprise management shouldn't be applicable if there is only one particular person or proprietor. It represents a workforce, class or part of people concerned in varied managerial functions. It's essential if there's a group of individuals concerned in performing any activity to achieve frequent goals. Administration defines the creatority, responsibility and procedures to perform particular work.
Administration as a process entails varied types of functions. One function of administration is interrelated with another function. The administration clearly defines the precise process of work to achieve predetermined goal. It doesn't consider the trial and error approach.
Each science and artwork
Science is a systematized body of knowledge, principal or fact that's experimentally proved. Equally, art is the personal skill and ability to use the scientific principles. Management is both science and art. It's a science because it relies on some fundamental rules of common application. It's also an art because skill and ability is required for performing managerial functions.
Profession entails the specific type of work, adopted by special knowledge and education. With the development of joint stock firms and multinational companies the ownership and management has been different. Administration of huge organizations has been entrusted in the palms of professionals having specific skill and knowledge.
Multi-disciplinary in nature
Enterprise administration is multi-disciplinary in nature. Most of the rules and methods utilized in administration are borrowed form a number of different disciples like psychology, sociology, economics and mathematics.
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