What is meant by Management? Explain any four characteristics.

Meaning of Management: Management is the process of conducting a set of functins
(planning, organising, staffing, directing and controlling) to get the work done in an efficient and effective manner.

Characteristics of Management: Following are the main characteristics of management:

(i) Management is a Goal Oriented Process: No goal in the hand-no need of management.In other words, we need management when we have some goals to be achieved. A manageron the basis of his knowledge and experience tries to achieve the goals which are alreadydecided. Hence, nothing is wrong to say that management is a goal oriented process.

(ii) Management is all Pervasive: Anything minus management is nothing or zero. Here, byanything we mean all types of activities-business and non-business. If we deductmanagement out of these activities, the result will be failure or zero. It means management isnecessary to conduct any type of activities. Hence, it is pervasive or universal.

(iii) Management is a Group Activity: It means that it is not a single person who con-summates all the activities of an organisation but it is always a group of persons (Managers).Hence, management is a group effort.

(iv) Management is an Intangible Force: Management is that power which cannot be seen.It can only be felt. If any organisation is heading toward higher levels of achievement, itsignifies an existence of good management and vice-versa.