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8827 What is Management?

Management is a universal phenomenon. It is a very popular and widely used term. All organizations – business, political, cultural or social are involved in management because it is the management which helps and directs the various efforts towards a definite purpose. According to Harold Koontz, “Management is an art of getting things done through […]

10238 Importance of Management Principles

Following are the main importance of the Principles of Management. Improves Understanding. Direction for Training of Managers. Role of Management. Guide to Research in Management. Improves Understanding – From the knowledge of principles managers get indication on how to manage an organization. The principles enable managers to decide what should be done to accomplish given […]

10231 Levels of Management – Top, Middle and Lower

The term “Levels of Management” refers to a line of demarcation between various managerial positions in an organization. The number of levels in management increases when the size of the business and work force increases and vice versa. The level of management determines a chain of command, the amount of authority & status enjoyed by […]

10228 5 Functions of Management: Planning, Organizing, Staffing, Directing and Controlling

Management has been described as a social process involving responsibility for economical and effective planning & regulation of operation of an enterprise in the fulfillment of given purposes. It is a dynamic process consisting of various elements and activities. These activities are different from operative functions like marketing, finance, purchase etc. Rather these activities are […]

10237 Features of Principles of Management

Principles of Management are Universal Management principles are applicable to all kinds of organizations – business & non business. They are applicable to all levels of management. Every organization must make best possible use by the use of management principles. Therefore, they are universal or all pervasive. Principles of Management are Flexible Management principles are […]

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Management as a group refers to all those persons who perform the task of managing an enterprise. When we say that management of ABC & Co. is good, we are referring to a group of people those who are managing.

Thus as a group technically speaking, management will include all managers from chief executive to the first - line managers (lower-level managers). But in common practice management includes only top management i.e. Chief Executive, Chairman, General Manager, Board of Directors etc.

In other words, those who are concerned with making important decisions, these persons enjoy the authorities to use resources to accomplish organizational objectives & also responsibility to for their efficient utilization.

Management as a group may be looked upon in 2 different ways:

  1. All managers taken together.
  2. Only the top management

The interpretation depends upon the context in which these terms are used. Broadly speaking, there are 3 types of managers -

  1. Patrimonial/Family Manager: Those who have become managers by virtue of their being owners or relatives of the owners of company.

  2. Professional Managers: Those who have been appointed on account of their specialized knowledge and degree.

  3. Political Managers/Civil Servants: Those who manage public sector undertakings.

Managers have become a part of elite group of society as they enjoy higher standard of living in the society.

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