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## Management - Meaning, Characteristics and Functional Area ### 17. Management is a Dynamic Discipline: - Management is a creator rather than a creation of the economy. - Management is a dynamic and growth-oriented function. - Management is not just passive but adaptive behaviour. - Management mean...

## Management - Meaning, Characteristics and Functional Area ### 17. Management is a Dynamic Discipline: - Management is a creator rather than a creation of the economy. - Management is a dynamic and growth-oriented function. - Management is not just passive but adaptive behaviour. - Management means taking action to make the desired results come to pass - Principles, techniques, methods, and skill of management are changing over a period of time ### Objectives of Management - **Economic** - **Personnel** - **Social** Management plays a pivotal role in the operations of a business organization. The main objectives of the management are as follows: 1. **Helpful in achieving the pre-determined objectives:** - Resources like men, machines, money, etc. are mobilized, co-ordinated, directed, and controlled in such a manner that the organization works towards the attainment of pre-determined goals. - Management provides a dynamic force in helping any enterprise achieve its objectives. 2. **Maximum utilisation of all the available resources:** - The main function of management is to use all the available resources to the maximum benefits of the institution. - Through the efficient and maximum utilization of resources it may keep adequate control on costs of various elements. - Today an efficient management can produce cheaper commodities at minimum cost sacrifice. 3. **Getting maximum results through minimum efforts:** - Management must increase the productivity of an organization by securing maximum utilization of its human and physical resources. - The optimum use of men, materials, machines, and money will give maximum return. - Thus, the main objective of management is to use all the available resources to achieve the desired results in the most efficient manner. - There should be maximum achievement with relatively lower efforts. 4. **To maintain cordial relationship between Capital and Labour:** - Management is a central directing and controlling agency involving organized co-operation and requiring collective efforts to realize some specific objectives. - To attain common goals and objectives cordial relationship between capital and labour must be maintained with the help of proper leadership provided by the management. 5. **Protecting the owner's interests:** - Management is the art of accomplishing maximum results with minimum efforts to secure maximum prosperity, efficiency and happiness for both the employer and the employee to give the best possible service to the public. 6. **Helpful in the development of labour force:** - The best management is that which selects best labour force and maintains them for future. - Management always considers labour force more important than things. - It brings about development of human talent by encouraging initiative, skill, and technical competence. 7. **To increase the efficiency of the factors of production:** - The basic objective of management is to obtain maximum output with minimum resources and efforts. - Management seeks mainly to utilise the human, physical, and financial resources available to an organization for getting the best results. 8. **Human Service and Social Justice:** - Management seeks to improve the quality of life of people by increasing employment and productivity. - It aims at increasing the standard of living by providing more amenities and leisure to people. - Management also attempts to ensure social justice for all by fair and uniform policies and practices.