Question

Long answer type questions.

Explain the concept of management.

Answer 1

Management is defined as the process of getting the work done with the aim of achieving goals of an organisation in an efficient and effective manner. It is the basic factor that drives an organization by emphasizing on various functions such as planning, organising, staffing, directing and controlling. These functions of management ensure that the goals of an organisation are achieved with the required resources and personnel without any wastage. They act as the guidelines for managers to organise and direct the people of an organization in a manner such that every person works to the best of his/her abilities without putting undue pressure.
The key terms in the definition of management are:

1. Process: Process refers to the inter-relationship among the basic functions of management such as planning, organising, staffing, directing and controlling. None of these functions can be performed in isolation.
2. Effectiveness: It implies completing the given work in the specified time period with a focus on the end results.
3. Efficiency: It implies completing a task with the minimum possible costs and resources.

Greater benefits with less resources = Efficiency
Same benefits with less resources = Efficiency
Less benefits even with more resources = Inefficiency