Meaning: -The survival and success of an organisation largely depends upon the quality of management. Some organisation prospers and progress not only in good times but also during tough times, but others fails even during good times. Therefore, it is vital for every organisation to have dynamic and dedicated managers.

Definition: -

“To manage is to forecast and to plan, to organise, to command, to coordinate and to control”. (Henri Fayol)

“Management is the art of getting things done through and with people in formally organised groups”. (Harold Koontz)

Following are the some of the important features/characteristics of MANAGEMENT

1. Management is a process: - Management is a process undertaken by managers to attain objectives. The management process involves:

 Planning activities

 Organizing resources

 Directing subordinates, and

 Controlling activities

The process of management is continues is nature. As long as the organisation exists, there is a need to achieve goals, and therefore, there is a need for managerial process on a continuous basis.

2. Group Activity: - proper management requires team work. The combined efforts of all the managers bring success to the organisation. A single manager, however, capable, may not be able to attain organisational goals without the support of other managers.

3. Involves Getting Things done through people: -Management involves getting things done through the people in the organisation. To get the work done, managers need to:

a. Lead the subordinates b. Communicate effectively, and c. Motivate the subordinates

4. Result Oriented: - Management places emphasis on results. The activities of the managers are focused on the attainment of goals or results. It is not just activities that matters but better results. The results can be in the form of:

A. Reduction in wastages B. Optimum use of resources C. Motivated workforce D. Higher efficiency, etc.

5. An art as well as a Science: -There is a considerable debate as to whether management is an art or science. In practice, managing is an art. However, a manager can work better by using the organised knowledge (Science). Therefore, management has characterised of both art as well as science.

6. Follows established Principles: - Management follow well established principles in managing their organisation. The principles includes

A. Division of work

B. Authority-responsibility balance

C. Discipline

D. Unity of Command, etc.

7. Need not be ownership: - In Large organisations, management and ownership need not be one and the same. The owners, i.e. shareholders can hire the service of professional managers.

8. Dynamic in nature: -Management need to be creative and innovative. The success and survival of the organisation largely depends upon innovation. Managers must come up with:

A. New and Creative Ideas B. New and better products C. Cost-effective processes, etc.