“Management is an art of getting things done through and with the people in formally organized groups. It is an art of creating an environment in which people can perform and individuals and can co-operate towards attainment of group goals.”
Management is a universal phenomenon for every individual and organization. It is the management that helps and directs an individual’s efforts towards a specific purpose. According to F.W. Taylor, “Management is an art of knowing what to do when to do and see that it is done in the best and cheapest way”.
With proper management, one can attain a set of certain pre-determined goals. Management involves working with others to achieve organization’s goals by efficiently deploying limited resources in the evolving world. While goals may vary from one enterprise to another, a strategized plan implemented with proper management is a necessity. For instance, for one organization, it can be launching a new product through market surveys and for other it may be ROI increase by reducing cost.
Creating an internal environment is a crucial part of Management. It is the responsibility of the management team to create appropriate circumstances that encourage maximum efforts so that peers or subordinates are able to perform their task efficiently. There is a definite process at various levels of management which includes ensuring the availability of raw materials, deciding the end-product, determining the wages and payrolls, evaluating the performances, formulation of rules & regulations, and much more.
Hence, it can be said that good management includes being effective as well as efficient. With effectiveness, we mean doing the tasks rightly, somewhat like ‘fitting the square pegs in square holes and round pegs in round holes’. On the other hand, being efficient means doing the task correctly at the minimalist cost with minimum wastage of resources.