Management is a concept which cannot be limited to any specific area. It is a part of our day-to-day life. Management is managing oneself. It is a broad term which is a combination of Planning, Organizing, Controlling, Directing and Co-ordinating.
As rightly defined by Koontz Management has been defined as the creation and maintenance of internal environment in an enterprise, where individuals working together in groups can perform efficiently & effectively towards the attainment of the goals." It is the environment created for a better performance of work efficiently hence working towards attaining common goals.
Management has a specific economic & social objective hence is can be applied everywhere. It is a continuous, multidisciplinary, dynamic process. "Management is a multipurpose organ that manages a business manages a manager and manages workers and work" as defined by Peter Druker. Management is the combination of Arts, science & profession.
Management as an art:-
1.Art needs skills:-
As arts requires skills so does management. Skills like conceptual,technical,human relations & decision making comprise management. To perform management functions properly one needs to have clarity of concept as to what, where, how, why etc. Technical skills and know how is also important as it streamlines the functions & increases the efficiency. As management exists in everyday life comprising the human beings and dealing with human relationships is an art hence it's a part of management too. Decision making is an important aspect of management .It can also be stated as an art because it requires a lot of inputs by way of facts & analysis.
2.Art requires knowledge:-
Management needs knowledge and information from various areas like finance, marketing, technology , production etc. As art needs inputs from other areas so does management. To manage effectively & efficiently one would require information from different fields. Information of how, what ,where in production, how & by what means in marketing, what is the latest update and how it can be used to increase the efficiency in technology & last but not the least the monetary aspect being the financial terms of how to obtain finance to complete the task in hand. All this requires Information ie Knowledge.
3. Art has creativity :-
Management is a form art as it requires creativity. The aspect of creativity is very prominent in marketing & competition. If a company plans to launch a new product in market then there would be a series of functions it would follow. As it would first do a market research, know about the competitors & their products. Then plan, & implement new marketing strategies for their products. All this requires artistic skills. The formula for success lies in implementing unique marketing strategy such as to attract the customers hence creating a need for the product.
4.Personalizing as an aspect of Management:-
Personalizing is as aspect of management as it is as integral part of art. As each person has his own way to personalize art ,he has his own style of doing it likewise in management each person can have his own style of managing.
5.Performance as an aspect of Management:-
As a good, bad or an average art performance has bench marks or so called performance indicators like wise Management can also understood by performance indicators like Profit, ROI(return on investment), Market share, equity etc.
Management as a Science:-
Management can also be considered as a science because it has certain features that are similar to it. Science can be social science. Management involves utilization of knowledge, innovative ideas, reasoning, analysis, implementation, directing, controlling & a feedback process to increase the efficiency of the employee. The features that science has as a subject are shared by management. Science can be divided into...