Saturday, June 27, 2020

What is Business Management and principle of Management

What is Management

Management is the art of knowing what you want to do and seeing that you do it very well and frugally. The Management provides leadership to the workers and employees and motivates them to work smoothly. Management is an art to get the work done collectively with group. Management is the art of getting things done by and with individuals in formally organized parties.
Manager at top level spent more time in planning and organized than the managers at lower level.

The main objective of managing is to achieve a predetermined objective while working with other peoples. The good merchant should give every facilities to his employee. Before starting any business, the Manager has to manage his plan and organization. The manager should maintain unity among his employees. The manager should produce a good product from their employees. Basic job a manager is the effective and efficient utilization of physical, financial and human resources to achieve organisational objectives.

Importance of Management

Production work has started to be done on a very large scale with the help of heavy machines as a result of industrial. A new form of organisation has developed in the form of company resulting in faster growth in Management. He has become technical from general to specific and specific. Importance of Management is increasing day by day in present time.

 A business organisation attain top position only because of the quality of Management. Successful organisation do not achieve their goals by chance but by following deliberate process called Management. On the other hand, lack of proper Management result in wastage of time money and efforts. In the absence of Management no organisation can run successfully. Some importance of growing Management are-

1. To face the Competition

With the expansion of markets in the present times, the field of competition has become international.
There has been a bid to drive large and strong units out of the market for small and weak units.

2. Increase in Employment Opportunities

In large units hundreds of thousands of people are employed today. Per day several large units are born which increase employment opportunities. Because the existence of large units remains safe due to Management.

3. To Determine Objects and Policies

Aim has great importance in the life of every institution. The goal of the unit is determined by managing. By the same the fundamental policies of the unit are manufactured.

4. To Carry on Large Scale Units

The setting up of large size business units is preferred. In such case their organisation form is often company organisation. Efficient Management is of great importance for smooth functioning of these circular units.

5. Development of Industrial Ability

Most of the action of managing are related to human behavior. Management improves efficiency and efficiency of the individuals and makes them their best growth. 

Principles of Management

Efficient Management is the basis of commercial and industrial progress and prosperity. In order to make your Management efficient and scientific, It is necessary that a manager is fully aware of the rules and principles of Management and follows them according to circumstances. 

Some Principles growing of Management are:

1. Division of Work

A manager should divide his staff into separate groups. The manager should get the same work done from his employee. Splitting of employees leads to task quickly and easily. The manager should maintain trust in his employees.

2. Discipline

The manager is very necessary to maintain good behaviour with his employees. There will be not good behaviour among the employees then discipline of company will be deteriorated. The manager should create awareness of good behaviour among his employees.    

3. Unity of Direction

The manager must maintain unity among his employees. The manager should direct the same work to his employees. Manager should pick same officer out of group of same employees.

4. Employees Award

The manager should award him good for the good work of the employees. The award should be reasonable and satisfactory. Employees should not greed of rewards and do their job well.

5. Scalar Chain

Should be direct contact between manager and all staff. Employees should communicate any information to their officer. Employees are in trouble of anything then he contact his officer.


The process by which manager synchronises the activities of different departments is known as coordination. Coordination is to balance its various activities (purchases, sales, production, finance etc.) so that objectives of business can be easily achieved.Common directions are needed to group efforts and the working of different departments. The process by which a manager integrates their activities and provide common direction is known as coordination. it is the force that integrates all functions of Management. It is implicit and inherent in all functions of an organization.  

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