What is Management and the Approaches of the Management? Class 12 NEB

                                                 Meaning Of Management

 

Management is the art skill or process of utilizing the limited resources of the organization to obtain the desired goal.

Or

Getting work done through others is management

 

The resources of the management or 5M of management

The 5Ms of management are a framework for understanding the key resources that businesses need to succeed. The 5Ms are:

• Manpower: This refers to the people who work in the business, including both managerial and non-managerial staff.
  
  
• Materials: This refers to the physical resources that the business uses to produce its products or services, such as raw materials, components, and packaging.
  
  
• Machinery: This refers to the equipment that the business uses to produce its products or services, such as tools, machinery, and vehicles.
  
  
• Money: This refers to the financial resources that the business needs to operate, such as capital, revenue, and expenses.
  
  
• Methods: This refers to the processes and procedures that the business uses to produce its products or services, such as manufacturing processes, marketing techniques, and customer service methods.

 

Approach of Management

Management can be understood from two approaches;

A.  Common approach

B.  System Approach

 

A. Common Approach

The common approaches of Management attempt to understand its form the following perspective

1.    As a Noun

2.    As a Discipline

3.    As a Process

 

1. As a Noun (activities)

Management is seen as a set of activities that are performed by managers or groups of people. These activities include planning, organizing, leading, and controlling which can benefit the business to achieve its objective.

 

2. As a Discipline

Management as a discipline refers to the subject. It’s bringing newness to the management. It’s introduced new idea, vision, Principle, Science, and Technology which helps to make effective management in the organization and it can be transferred to others using teaching and learning.

 

3. As a Process

Management as a process refers to the series of steps or activities that managers undertake to achieve organizational goals. The steps are the activities are planning organizing staffing directing and controlling.

 

B.  System Approach         

The System approach Of Management indicates it is a comprised form of all managerial functions which are focused to achieve the predetermined objectives or output together by processing the input resources within the influence of the environment

 

Inputs: These are the resources and information that the organization requires to function. Inputs can include raw materials, human resources, financial resources, technology, and information from the external environment.

 

Processes: These are the activities and operations the organization undertakes to transform inputs into outputs. Processes can include production, marketing, sales, customer service, and other activities specific to the organization's operations.

 

Outputs: These are the results or outcomes that the organization aims to achieve. Works can be tangible, such as products or services, and intangible, such as customer satisfaction, brand reputation, or financial performance.