The Traits of Business Management

All activities performed by a manger to get things done via others are known as management. In other words, management is to handle human and other resources tactfully for the achievement of organizational goals. It’s common in all organized activities. It’s an train of harmonizing men, cash, machines, supplies and strategies towards fulfilling the defined objectives.

Check our list of traits of business administration

Goal oriented

Every group is established for a selected objective. Management is an instrument or system that contributes for the efficient use of human and other resources to achieve predetermined objectives. The principle goal of business management is to maximize productivity with optimum use of human effort.

Universal activity

Management is essential the place human activity exists. The process of enterprise management may be completely different from organization to group but the basic principles of administration are same. It may be said that the management principles are universally applicable.

Social process

Enterprise management is a part of social process. Management achieves its aims by, with, and through the people. It utilizes human resources for the achievement of organizational goals. Management has to consider not only the organizational goals but in addition the social objectives. It has to fulfill the needs of employees within the organizational resources.

Dynamic/modifiable activity

Management is a dynamic and steady process. The administration system of as we speak may not be applicable or efficient for tomorrow. Subsequently, management should be dynamic and versatile with the altering atmosphere of the society. Administration has to modify its type according to the time and situation. This flexibility is essential for an organization to adjust with the changing environment of the business.

Group activity

The concept of business administration isn’t applicable if there may be only one person or proprietor. It represents a team, class or part of individuals involved in various managerial functions. It’s essential if there’s a group of individuals concerned in performing any activity to achieve frequent goals. Management defines the authority, responsibility and procedures to perform particular work.

Distinct process

Management as a process entails varied types of functions. One perform of management is interrelated with one other function. The management clearly defines the precise process of work to achieve predetermined goal. It does not consider the trial and error approach.

Each science and artwork

Science is a systematized body of knowledge, principal or reality that’s experimentally proved. Similarly, artwork is the personal skill and ability to use the scientific principles. Administration is each science and art. It is a science because it is based on some primary rules of universal application. It is usually an artwork because skill and ability is required for performing managerial functions.

A profession

Profession involves the particular 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. Management of giant organizations has been entrusted within the hands of professionals having particular skill and knowledge.

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