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NATURE AND SIGNIFICANCE OF MANAGEMENT

Chapter 1 CBSE NCERT Syllabus Solved Suggestions and Question Paper in English Medium

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FOUNDATION - BASICS OF THE CHAPTER

MCQ QUESTIONS - 1 MARKS

SHORT QUESTIONS ANSWER - 3/4 MARKS

LONG QUESTIONS ANSWER - 5/6 MARKS

Definition, Important Terms, Explanation in Simple Words for Fast Learning

NATURE AND SIGNIFICANCE OF MANAGEMENT

Management: (meaning)

Management means to create the internal environment of an organization where individuals who work together in groups can perform efficiently and effectively towards the fulfillment of group goals.

Definition: “Management is the art of getting things done through and with people in formally organized groups.”-Harold Koontz

Characteristics of Management 

  1. Goal oriented Process:
    It is a goal oriented process, which is undertaken to achieve already identified and anticipated objectives by proper utilization of available resources. 
  1. Pervasive Activity:
    Management is widespread accepted in nature. It is needed at various types of organizations whether economic, communal or political regardless of its dimension, nature and location and at every level.
  1. Multifaceted:
    It is multifaceted as it comprises management of work, individuals and operations. Every organization is established for doing some work like school provides education, a factory produces etc. The management has to certify the participation of its people in the realization of the predetermined goals of an organization. Also management needs to conduct the various operations such as production, sale, purchase etc. 
  1. Continuous:
    Management can’t be considered as the process that can be performed once and for all, but it is an endless process. Different functions of management like planning, organizing, staffing, controlling and directing continuously need to be done.

 

  1. Team Activity:
    It is a team activity since it involves handling and harmonizing activities of different people as a team to accomplish the anticipated objectives.

 

  1. Dynamic function:
    Management can be considered as a dynamic activity since it has to adapt agreeing to necessity, time and situation of the varying environment in order to be successful, an organization must change itself and its goals. A classic example of management as dynamic function when McDonalds made major variations in its ‘Menu’ to continue in the Indian market. 
  1. Intangible Force:
    Management is such a force that cannot be seen, only its presence can be felt. When the goals of an organization are being realized in accordance with its plans, we can say that the management of the organization is good. 

 (d) Purposes of Management:

Activities of an organization are directed towards certain goals and ends which are known as Objectives. The actual performance is judged or compared based on these objectives which form as a standard of performance. The different types of objectives are shown below:

(i) Individual/Personal objectives

(ii) Organizational objectives

(iii) Social purposes

Significance of Management:

  • Brings order to endeavors
  • Critical ingredient in nation’s growth. 
  • Overcomes the competition.
  • Provides effectiveness to human efforts
  • Provides Judgment and vision.
  • Integration with a changing environment.
  • Management helps in achieving predetermined group goals. 
  • Creates a dynamic organization.
  • It reduces cost
  • Maintains equilibrium.
  • Helps in achieving individual’s goals 
  • It helps in optimum use of resources
  • Establishes a sound organization structure
  • Essential for the prosperity of the society

IS MANAGEMENT An ART? SCIENCE? OR A PROFESSION?

(A) Management as an Art:

 Management is viewed as an art because it includes the application of Skills and knowledge to attain predetermined objectives.

The following features can be seen when we consider management as an art:

  1. Situational. 
  2. Personal judgment,
  3. Practical knowledge, 
  4. Personal skill
  5. Continuous practice
  6. Creativity

(B) Management as a Science:

Management is not an exact science as physics and chemistry but it does have some characteristics which can make management a science. In the words of Keynes, “Science is a systematized body of knowledge which establishes relationship between cause and effect”
In the words of G R Terry, Science is a body of systematized knowledge, accumulated and accepted with reference to the understanding of general truths, concerning a particular phenomenon, subject or object of study”.

(c)Management as Profession:

Profession can be understood as a distinct body of data that is learned intellectually and organizationally. In profession, the entry is constrained by examinations and education. One enters into it to work without any expectation of a direct share in the earnings earned out of such activities Professionals usually work on professional charges as fee.

(i) Features of a Profession are:

The basic necessities of management as profession are as follows

  • Existence of expertise and specialized body of knowledge
  • Formal approaches of training and understanding
  • The formal principled code of conduct. 
  • The charging of fees based on the nature of service rendered.

Keeping in mind the above, we can examine whether management is a profession. The arguments in favor of this statement are listed below:

  • Body of Knowledge.
  • Formal Methods of Training.
  • Fee as Remuneration.
  • Existence of Ethical Code.
  • Formation of Representative Organizations.

(D)Management is both a Science and an Art:

We know that, Science provides the principles, whereas the way principles have to be applied is a matter of art. Effective management is the outcome of a smooth blend of art and also science. Therefore, management can be considered as both science and an art.

  1. DIFFERENT LEVELS OF MANAGEMENT – TOP, MIDDLE AND SUPERVISORY OR OPERATIONAL LEVEL

The various levels of management can be broadly divided into following three categories: 

(a) Top Level Management: As the name suggests, this is the level of management which is highest at the hierarchy of management. It constitutes of Chief Executive Officer (CEO), Board of Directors, Chairman, Managing Director, and General Manager 

(b) Medium Level Management: It includes of departmental heads, functional managers and other executive officers

(c) Supervisory Operational Level of Management: This level contains of supervisors, foremen, inspectors, etc.

  1. FUNCTIONS OF MANAGEMENT

The functions of management can be grouped into these five categories, these all functions are correlated and sometimes overlapped as well.

  1. Planning
  2. Directing
  3. Controlling
  4. Staffing
  5. Organizing

Coordination:

Meaning of Coordination

Coordination is an important function of management, coordination mentions to the task of amalgamating the events of separate units of an organization to achieve the aims of the organization efficiently. The objective of coordination is to make sure that the goals of elements and sub-elements are followed in harmony with each other keeping in view the organizational aims as a whole.

In the words of Mary Parker Follet, right from the planning stage, coordination function begins to perform, where coordination is sought between plans of each department and master plan of the organization. This is also coordination between available resources and objectives.

Elements of Coordination: 

  • Integration- It includes all the diverse and unrelated interests amalgamated together to complete the job/work effectively. 
  • Balancing- A balance between the events of the two departments or divisions are maintained by providing support and guidance of one activity to another to get the best results.
  • Timing- Scheduling of operations in suitable order fall under this category.

MCQ SHort Questions (1 Marks)

NATURE AND SIGNIFICANCE OF MANAGEMENT



  1. Mention one significance of management

Ans- It creates an energetic and active organization

 

  1. While maintaining a balance between effectiveness, management should achieve goals. Do you agree ?
    Ans- Yes, I agree.

 

  1. “Management is a group action. Why? [AI 2008C]

Or 

Why is it said that “management is a team activity”. [Foreign 2009]
Ans- Management is a team task for the reason that it is important to undertake any organized activity, one may conclude that management deals with group activity. It requires the use of group efforts so as to accomplish predetermined objectives and goals.

  

  1. “Management increases efficiency”. How? [Delhi 2009]
    Ans- The Management reduces costs and increases productivity with the help of various management functions such as planning, organizing, staffing, directing and controlling. 

 

5.”Management generates a vibrant organization.” How? [Foreign 2009]
Ans- An organization needs to maintain its competitive advantage in which management helps by making people adjust to the changes, hence helping to create a dynamic organization.

 

  1. Mention two social aims of management. [Delhi 2010; AI 2010, 11]

Ans- 

    1. Using eco-friendly approaches of production 
  • Providing basic facilities like schools and scholarships to employees

 

  1. ‘Management is multidimensional.’ Write any two dimensions of management. [CBSE Sample Paper 2011]

Ans-

  •  Management of people
  1. Management of work 

 

  1. What do you understand by management? [Delhi 2011]

Ans- The term “Management” means to create the internal environment of an organization where individuals who work together in groups can perform efficiently and effectively towards the fulfillment of group goals.




  1. Mention one point which justifies management in the form of an art

Ans- A manager applies his gained understanding in a personalized and skillful manner in context of the realities of a given condition.

 

  1. List one feature of art which is applicable to management.
    Ans- Presence of knowledge which is theoretical in nature.

 

  1. Name the three levels in the hierarchy of an organization.

Or

List the different levels of management.

Ans- Top, middle and lower management

 

  1. Raghu is working as the link between managers at the top and lower. He is working at which managerial level?

Ans- Raghu is working at mid-level management

 

  1. Suppose the post of foreman in an organization is offered to you. What is the level of management of this post?
    Ans- Operational Management

 

  1. What is the name given to the management level in which the managers are accountable for implementing and monitoring the plans and strategies of the organization?
    Ans- Middle level Management. 

 

  1. What is Name given to the level of management in which the managers are accountable for maintaining the safety standards and the output quality.
    Ans- Operational level of Management.

 

  1. Before controlling and directing, name the management function which comes in between the two and after planning.

Ans- Organizing and staffing

 

  1. Name the management function which is related to finding the accurate individuals for the accurate job.

Ans- Staffing

 

  1. State the management function that deals with influencing, motivating, and leading employees to perform the responsibilities given to them.

Ans- Directing.

Short Answers & Questions (3-4 Marks)

Nature And Significance Of Management

  1. Describe the word ‘Management’ briefly.

or

Define Management. [NCERT]

Ans- “Management is the art of getting things done through and with people in formally organized groups.”-Harold Koontz

Management means to create the internal environment of an organization where individuals who work collectively in groups can perform effectively in the direction of fulfillment of group objectives.

  1. Explain the statement- “Management is Intangible.”

Ans- Management is considered as an intangible or unseen force. Management cannot be seen. Although we can understand through orderliness, energetic employees, cheerful spirit and ample work output. 

Quite often, the significance of management can be understood by its absence or by the presence of its immediate opposite mismanagement. The consequences of mismanagement are rapidly noticed; and thus, the identity of the term ‘management’ is brought into clear focus.

  1. Define management as an art.

Solved Answer in Video

Ans: Art: The application of knowledge and personal skills to achieve desired results is referred to as an Art.

The main features of art are

  • Existence of theoretical knowledge. 
  • Personalized application
  • Practice and creativity is needed in Art.

On examination we find that management can be considered as art. To manage various aspects of business, management prescribes general principles. Based on the skill and experience of managers, the application of these principles depends. After a long practice, one becomes an well-organized manager. Each student learns the principles of management but applies them differently depending on his practice and his creativity.

  1. Do you think management a full-fledged profession? Give three reasons to support your ans. [Delhi 2010]

Ans: No, management is not a developed/full fledge profession due to the following mentioned reasons:

  1. There are no restrictions on anyone being designated as manager in any business organization.
  2. Managers are not required to become a members of professional associations such as AIMA and follow their protocol. 
  3. The objective to have maximum profit may lead to sacrifice service motive
  1. Is management a ‘Science’? Support your answer by providing three reasons. [Delhi 2010]

Ans: No, management is not a science due to the following reasons: 

  1. Management is related with human beings as well as human behavior, so the outcomes of these experiments cannot be projected or replicated accurately.
  1. Application and use of management principles is not worldwide accepted.
  1. The methods of observation which are followed by management are not cent percent objective
  1. Is management an ‘Art’? Support your answer by providing three reasons. [Delhi 2010]
    Ans: Yes, management can be considered as an art because: 
  • Theoretical knowledge exists.
  • There are innumerable management theories, which state certain universal principles. 
  • A manager applies this gained knowledge in a personalized and practiced manner in context of the genuineness of a given condition.
  1. “Management is regarded as an Art by some, as Science or as an inexact Science by others. The truth seems to be somewhere in between”. 

Explain the true nature of management in context to the given statement. 

Ans: 

Management as Art & Science

In order to choose whether management is an art or science, the following discussion can be found supportive.

Management as a Science 

Science is a systematically structured body of knowledge which is based on proper findings and exact principles and can be verified. The broad view is made on the basis of empirical studies and so they may be applicable in future also. A subject should have the following characteristics in order to be recognized as science:

  • An organized body of facts comprising concepts, principles and theories.
  • Reasons and Results relationships should be well-known.
  • Enquiry methods should be scientific.
  • Principles need to be universally accepted and also variable.

Management is related with individuals just like social science but like biology and chemistry, it is not an exact science. Though not entirely but management is like social science, for the reason that it is based on a organized body of knowledge; it is dependent on the reasons and results relations and not on personal likes and dislikes of managers. Just like science, principles of management are obtained from observations and experiments.

Management in the form of an Art

Art is based on the use of knowledge and skills. Through the application of skill, desired results are obtained. Thus the characteristics of art are:

  • It symbolizes practical knowledge.
  • In a specific field of human activity, it symbolizes personal skills
  • It helps to obtain desired/predetermined results.
  • Creative in nature

We can regard management as an art as it requires use of facts and personal skills to obtain required results. While dealing with people, every single manager is required to use certain knowledge and skills to obtain desired results. Just as art, management requires certain abilities, skills and judgment and a continuous practice of management concepts and principles. Hence it can be determined that management is both a science and an art based on the above discussion.

  1. Who Are Considered As The Pinnacle Management In A Business Enterprise?

Ans: Top Level Management

Top management comprises managers who are at the highest level in the hierarchy of management. The members present on this level are the Board of Directors, Chief Executive and the Head of the Departments. The undertakings of this level are concerned with establishing overall, long term goals and ways of achieving these. Top management is also concerned with maintaining connection with the outside world. 

For example, with the government, trade unions, etc., setting up overall policies, and providing direction and guidance to the organization as a whole. It is held accountable for the overall success or failure of the business.

  1. Who Are Considered As The Middle level Management In A Business Enterprise?

Ans: Middle level management

This level comprises departmental managers. Managers of this level perform the main function of linking the top and supervisory level of management. They pass on orders, suggestions, and decisions towards the lower level and carry the problems and suggestions to the higher level. 

Moreover, this level describes and explains the policy decisions completed at the upper level to the lower levels. They circulate detailed instructions to lower level management and synchronize the undertakings of various units and divisions within the same department. 

Taking departmental decisions and motivating lower level managers towards better performance are the main tasks performed by the middle level managers.

  1. Mention The Three Levels Of Management. Describe Any Three Functions of the Operative Level Management. State Any Two Designations Given To The First Line Managers. 

Ans: Three levels of management are:

  • Top  level management
  • Middle level management
  • Supervisory/Operative management

Supervisory/Operative Management

The lowest level of management comprises first line supervisors. Normally they have titles such as superintendent, section officer controller, foreman, etc. 

They directly connect with the workers, clerk, salesmen, etc. They are allotted the task of getting the work done by operatives or workers who are actually doing the work.

They are essentially concerned about the operative jobs and the management of workers. Below this level, there are no managers. 

  1. Explain Briefly Any Five Roles of Management at the Middle Level in an Organization

[Delhi 2005; Ai 2005, 06, 08c; Foreign 2005]

Ans: 

Functions of Middle Level Management Are:

  1. To produce an association between the top level of management and supervisory level of management.
  2. Elucidation of policies shaped by top management
  3. To prepare the organizational set up in their departments for attaining the objectives inferred in various business policies.
  4. To discover the suitable, operative and supervisory personnel and to allot duties and responsibilities to them for the application of the plans of the concerned departments.
  5. To compile and issue detailed instructions about the operations to the assistants and operatives to focus and lead their efforts accordingly.
  6. To motivate the personnel for higher yield and to reward them for their efficiency, capacity or caliber.
  7. Collection of reports, statistical information and other records about the work turned out in specific departments and forwarding the same with their observations to the top management
  1. What Do You Understand By ‘Levels Of Management’?

Ans: Top Level of Management:

Top management comprises managers who are at the uppermost level in the hierarchy of management. The participants of this level are the Board of Directors, Chief Executive and the Head of Departments

The activities of this level are concerned with establishing overall, long term goals and ways of achieving these.

Top level of management is also related with maintaining connection with the outside world. For example, with the government, trade unions, etc., setting up overall policies, and providing direction and guidance to the organization. It is held responsible for the overall success or failure of the organization. 

Middle Level of Management. 

The middle level of management comprises departmental managers. Managers of this level perform the main purpose of connecting the top and lower level of management. They send orders, suggestions, and decisions towards the lower level and carry the glitches and suggestions to the higher level. 

Moreover, this level describes and explains the policy decisions made at the upper level to the lower levels. They circulate detailed instructions to lower levels management and synchronize the undertakings of various units and divisions within the same department. Their tasks include taking departmental decisions and motivating lower level managers towards better performance.

Supervisory/Operative Management. 

The bottommost level of management comprises first line supervisors. In general they have titles such as superintendent, section officer supervisor, foreman, etc. 

They straightly communicate with the labors, clerk, salesmen, etc. 

They are given the task of getting the work done by workers. They are primarily concerned with the operative jobs and the management of workers. Below this level, there are no managers. Managers present at this level look after the work of operatives to make sure that it is of desired quality and is completed in time. 

  1. Explain in brief, the tasks of management.

“A series of continuous correlated functions with no predetermined sequence is known as management.” Justify.

Ans: Tasks of Management

Tasks of management are correlated and overlapping, but they may be grouped into the below mentioned five categories

Planning- Planning means to make decisions well in advance and being specific in what has to be done, when and how.

Organizing- Organizing means to identify activities which needs to be performed, grouping activities which are similar and allocating them to diverse departments, creating job titles at diverse levels and exhibiting mutual relationship between them in context of the authority and accountability

Staffing- The staffing function is significant for the recruitment and selection of able and skilled personnel for various jobs in the organization

Directing- Directing involves functions of inspection, inspiration, guidance and communication.

Controlling- The practice of ensuring that activities are in compliance with the scheduled goals falls under this category.

 

  1. Define Coordination. [Foreign 2007]

Ans: Meaning of Coordination

Coordination is a significant role of management, coordination mentions the task of amalgamating the undertakings of separate units of a business to attain the objectives of the organization efficiently. The goal of coordination is to ensure that the aims of units and subunits are followed in harmony with each other keeping in view the organizational goals.

  1. Coordination is considered as the heart of management instead of a separate function of manager.” Do you agree? Give reasons [NCERT]

“Coordination is the heart of management”. Explain this statement briefly [AI 2006]

“Coordination is not a separate function of management. It is the essence of management.” 

Ans: Yes, I agree with the statement

As a regular function, all managers must coordinate with departments, units and individuals about the work given to them. There is likely to be duplication, overlapping, and even chaos in the enterprise if there is no agreement and assimilation of activities. According to Mary Parker Follet, right from the planning stage, coordination function begins to perform, where coordination is sought between plans of each department and master plan of the organization. This is also coordination between available resources and objectives.

Coordination is sought between the human resources and the activities which has to be accomplished, at the organizing stage. Coordination is needed between human resources, need and selection of staffs and also between abilities and skills of workers with the jobs allotted to them, at the staffing stage. Harmonious and smooth performance of duties is ensured by direction. Coordination between standard performance and actual performance is ensured by controlling. Therefore, instead of a separate function, coordination is considered as the heart of management.

  1. Examine the element of coordination from the point of effective management. [Delhi, Al, Foreign 2009]

Explain Integration’ as an element of coordination. [Delhi, 2006]

Ans: Elements of Coordination: 

  • Integration- It includes all the miscellaneous and dissimilar interests amalgamated together to accomplish the job/work effectively and efficiently. 
  • Balancing- A balance between the undertakings of the two departments or divisions are maintained by providing support and guidance of one activity to another to acquire the best results.
  • Timing- Scheduling of operations in suitable order fall under this category.
  1. In large organizations there is the need/ importance of coordination. Explain why.

What is the meaning of ‘Coordination’? Explain any two points of its importance in management. [Foreign 2012]

Ans: Size of the business- In large organizations, difficulties are often created in integrating activities of scores of people. Individual behavior is rational and cannot be predicted. Amalgamation of group aims and individuals needs to be completed through coordination.

Functional differentiation- The roles of a business is commonly divided into departments, divisions, sections, etc. By functioning separately from other units, each unit tries to perform its mission. In such circumstances, coordination is important to work successfully in the organizations.

Specialization- A range of specialists are employed by organizations. It may lead to conflict if they are allowed to work without coordination. So there has to be some process by which coordination is maintained between various specialists and also among the specialists and the others in an organization.

  1. Distinguish between Coordination and Cooperation:

S. no.

Basis

Coordination

Cooperation

(a)

 

(b)

 

(c)

Scope

 

Nature

 

Inter-

dependence

Has a wider scope as it includes cooperation

 

An aware and deliberate effort

 

Coordination is dependent on cooperation as it is incomplete without it

The principal step towards establishing coordination so has a narrow scope

A voluntary effort

 

Cooperation also depends on coordination because it is meaningless
without it.

Long Answers & Questions (5-6 Marks)

Nature And Significance Of Management

 

Q1. Explain Briefly The Nature And Features Of Management. [Delhi 2005c]

 

Explain Briefly Any Five Of Management. [Ai 2006]

 

Name Any Two Important Features Of Management. [NCERT]

 

Ans- Nature and Features of Management

 

Management is that Activity Which Deals With Guiding Human Resource and Physical Resources in such a way that Organizational Goals Are Accomplished Efficiently. The Key Feature Which Accentuate the Nature of Management is Listed Below: 

 

Purposeful Activity.

Management Always Aims To Achieve Certain Specific Objectives. Through Management the Human Resources And Physical Resources Can Be Efficiently Used To Achieve Predetermined Goals. Management Cannot Exist In Absence Of Objectives.

 

All the Physical resources And the Financial Resources Are Combined with Human Efforts in Management. Management Activity Concentrates Around Combining Human Effort With other Resources, Such As Machinery, Building, Financial Assets, And So On.

Management Is an Ongoing Activity. 

As Long As There Is Organized Activity Or An Organization, The Requirement Of Management Continues. Therefore, There Are No Breaks And Gaps In Management. 

 

Management Is Extensive. 

All kinds of organizations require management, be it economic, social and even political. Thus clubs, colleges, political parties, universities, business firms, hospitals, all necessitate management. Management is needed in those areas where more than one person is involved in working for a common objective, that is why it is declared that management is an significant element of organized activity no matter what the size of the activity whether it is a minor business firm involved in trading or a large multi-crore company like the Tata iron and steel company

 

Management Is a Collective Activity 

Various people are required to work together in an organization, without proper management it will be difficult to coordinate and harmonize the efforts of different individuals in an organization.

 

Management Is A Goal-oriented Process

The activity of management is headed towards the predetermined goals. 




  1. State The Aims Of Management. Explain the Role Of Management In The Success, Productivity And Soundness Of An Business.

Or  

What Are The Aims Of ‘Management’? Explain Briefly. [Delhi, Ai 2007]

 

Ans- Objectives Are the Goals towards Which an Organization’s Activities Are Directed. These Objectives Function As Standards or Yardsticks against Which the Actual Performance Is Evaluated or Compared 

Different Types of Objectives are:

 

Organizational Objectives:

 

  1. Ideal Use of all the Resources Available to an organization.
  2. Position in the Market Pertaining To Its Opponents. 
  3. Innovation in addition to Improvement Of New Product Or A New Method   

Of Production

  1. Reasonable Profit Motive
  2. Achieving Maximum Results With Minimum Efforts
  3. By Influencing Their Attitude, Their Performance Of Management And 

Workers Can Be Increased. 

  1. Amalgamation of Organization And Individual Interests

 

Individual Objectives/Personal Objectives: 

 

  1. By Providing Competitive Remuneration, Personal Development, Peer 

Recognition And Societal Recognition, Supreme Prosperity For Employees To Be Achieved.

  1. Providing Enhanced Standard Of Living, Decent Working Conditions, And 

Sound Human Relations Amongst The Workers 

  1. Combining Personal Aims With Corporate Aim Importance Of Management 

 

3.”Management Provides Potency to Human Efforts and Provides Judgment and Vision. “Justify

Or 

“A Successful Enterprise Has To Reach Its Goals Effectively And Efficiently.” Explain. [NCERT]

 

Efficiency of Human Efforts Is Delivered By Management. Management Focuses On Effectiveness In Its Activities And Thus, Stresses On Equipment, Plants, Offices, Products, Services And Human Relations. Drives like These Help Management in Achieving Success and Efficiency in Their Efforts. Management Keeps Alongside Of Fluctuating Conditions So It Anticipates and Imagines

 

Judgment And Vision Are Provided By Management. Before Doing Anything To Fix Worthwhile Objectives Management Has To Think. A High Point Of Judgment And Vision Is Required To Cautiously Select And Consume Resources Efficiently. Sound Management Will Allow an Enterprise to Adjust To the Complex and Dynamic External Environment, Thus, Maintaining Equilibrium



  1. There Are Different Objectives Of Business And Economic Objectives Are One Among Them. Explain These Economic Objectives. [CBSE Sample Paper 2011]

Ans: Economic Objectives of Business Are mentioned below: 

(I) Profit 

(Ii) Survival

(Iii) Growth

 

The Straightforward Objective Of a Business Is Survival And Recovering the Cost, An Organization Must Receive Sufficient Revenues.

 

Profit = Plain Survival Is Not Adequate. For The Continuous Effective Operations Of any organization, Management Has to Safeguard That the Enterprise Makes Profit since it is An Incentive for Progress. 

 

Growth = To Run A Business Long Term, Prospects Need To Be Added To Every Business. To Achieve This, Management is required to entirely exploit the Growth Potential of the Enterprise.

 

  1. Management can be considered to be a Trinity of an Art, Science and Profession. Explain the feature Of Management in Context to This Statement.

Or

Management is considered to be a Multi-faceted Concept. Explain

Ans

Science– Science Is a Thoroughly Structured Body of Knowledge Founded on Proper Discoveries and Strict Principles which can be verified if needed. The Generalizations are based on Empirical Studies and So They May Be Applicable In Future Also. With the purpose of getting recognized as Science, a Subject have to have the Following Characteristics:

 

An Organized Body of Knowledge. 

Reason And Result Relationship Should Be Established.

Enquiry Methods Should Be Scientific.

Principles Need To Be Universally Accepted And Also Variable.

Management is related with individuals Just like Social Science and Like Physics and Chemistry, Management Is Like Social Science not like exact science, since It Is Based On A Systematized Body Of Knowledge; It Is Dependent On The Reason And result Relations And Not On Personal bias Of Managers. Just Like Science, Management principles are Obtained From Observations And Experiments.

 

Art- Art is depended on the Use of Knowledge and Expertise. Through The way a skill is applied, Desired Results Are Obtained. Thus The Features Of Art Are:

 

It Symbolizes Practical Knowledge.

In A Specific Field of Human Activity, It Symbolizes Personal Skills

It Helps To Obtain Desired/Predetermined Results.

Innovative in Nature

It Requires Use Of Understanding And Personal Expertise To Obtain Required Results. While Dealing With People, Every Manager Has To Use Certain Knowledge And Skills To Obtain Desired Results. Just As Art, Management Requires Certain Abilities, Skills And Judgment And A Continuous Practice Of Management Concepts And Principles.

 

Profession- An Occupation Where A Specialized Expertise Set Is Required Is Known As Profession. These Are Skills Which Are Used For The Interests Of The Society And Not For Self-satisfaction. Money Alone Cannot Measure The Success Of These Expertise. For Example, Law, Medicine, Accountancy Are Also Professions.

 

  1. Describe ‘management As An Art’

Ans: Management in  the form of an Art is a way to apply Knowledge And Special Expertise To Achieve Desired Results Is Referred To As Art.
The Main Features Of Art Are:

 

Existence Of Academic Knowledge. 

Personalized Application

Practice And Creativity Is Needed In Art.

 

On Examination We Find That Management Is An Art. To Manage Various Aspects Of Business, Management Prescribes General Principles. Depending On the Skill and Experience of Managers, The Application process Of These Principles of management Depends. After A Long Practice, One Becomes An Efficient Manager. Each Student Learns The Principles Of Management But Applies Them Differently Depending On His Practice And His Creativity.

 

  1. Can Management Be Considered A Profession ? Justify Your Answer.

Or

 Management Is Not Considered As A Profession. Why?

Or 

“Management Has Not Yet Gained The Status Of A Full Fledged Profession”. Give Reasons 

Or

Management Is A Profession Like Accounting, Medicine And Law As It Also Has A Well Defined Body Of Knowledge. Yet 

Or

“Management Is Regarded As A Fully-developed Profession.” Do You Agree ? Justify

Or

Write A Brief Note On Management As A Profession 

Or

Discuss The Basic Attributes Of Management As A Profession.

 

Ans: Below Mentioned Features Are Fulfilled By the Management In The Following Ways:

There Is No Restriction On Anyone Being Designated Or Appointed As Manager In Any Business Organization.

Managers Are Not Required To Be Members Of Professional Association Like Aim And Follow Their Code Of Conduct. 

The Objective to Have Maximum Profit May Lead To Sacrifice Service Motive

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