The Characteristics of Business Management

The Characteristics of Business Management

All activities performed by a manger to get things completed by means of 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 universal in all organized activities. It is an train of harmonizing males, money, machines, materials and strategies towards fulfilling the defined objectives.

Check our list of traits of business management

Goal oriented

Every group is established for a specific objective. Administration is an instrument or system that contributes for the efficient use of human and different resources to achieve predetermined objectives. The primary objective of business management is to maximize productivity with optimum use of human effort.

Common activity

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

Social process

Enterprise management is a part of social process. Administration achieves its aims by, with, and thru the people. It utilizes human resources for the achievement of organizational goals. Administration has to consider not only the organizational aims but also the social objectives. It has to fulfill the wants of workers within the organizational resources.

Dynamic/modifiable activity

Administration is a dynamic and continuous process. The administration system of right now will not be applicable or efficient for tomorrow. Therefore, management should be dynamic and flexible with the altering atmosphere of the society. Administration has to switch its style according to the time and situation. This flexibility is essential for an organization to adjust with the changing surroundings of the business.

Group activity

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

Distinct process

Management as a process includes numerous types of functions. One perform of management is interrelated with another function. The administration clearly defines the specific process of work to achieve predetermined goal. It does not consider the trial and error approach.

Each science and art

Science is a systematized body of knowledge, principal or fact that is experimentally proved. Similarly, artwork is the personal skill and ability to use the scientific principles. Management is both science and art. It is a science because it is based on some primary principles of universal application. Additionally it is an art because skill and ability is required for performing managerial functions.

A profession

Profession includes the particular type of work, adopted by particular knowledge and education. With the development of joint stock corporations and multinational corporations the ownership and management has been different. Management of giant organizations has been entrusted within the hands of professionals having specific skill and knowledge.

Multi-disciplinary in nature

Business management is multi-disciplinary in nature. Most of the ideas and methods used in administration are borrowed form a number of different disciples like psychology, sociology, economics and mathematics.

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