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Explaining the basic terms of management
Management is the process of getting things done with the aim of achieving organizational objectives effectively and efficiently.
The basic elements of this definition are discussed below:
- Process: The primary functions or activities that management performs to get things done. These functions are planning, organizing, staffing, directing, and controlling.
- Effectiveness: Effectiveness in management is concerned with doing the right things completing activities and achieving goals. It is concerned with the end result.
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- Efficiency: It signifies the relationship between inputs and outputs. Efficiency would be greater if fewer inputs are used to produce the required amount of goods or if more goods are produced with the given input.
- Organizational objectives: The modern concept of management insists that all the activities of managers must be directed towards the achievement of organizational goals.
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Explaining the key features of management
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