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### Management - Meaning, Characteristics And Functional Area - **Management has to control, organise and motivate people.** It can improve their lives and create a favorable climate for their development. - **Management is related with human activities.** Management is the function of getting thin...

### Management - Meaning, Characteristics And Functional Area - **Management has to control, organise and motivate people.** It can improve their lives and create a favorable climate for their development. - **Management is related with human activities.** Management is the function of getting things done through people and directing the effort of individuals towards a common objective. - **Management is a Profession.** In present days, with the separation of management from ownership, it is being taken as a profession. Management is a well defined body of knowledge and requires formal training for new entrants. It has various representative bodies, and the entrants are joining it as a career with the aim of serving the society, not for money making alone. A growing tendency in modern business is to have professionally qualified managers. Studies have shown that a trained manager generally performs better than his untrained counterpart. - **Management is a Hierarchy of Authority.** In an organisation, there are different levels of management. Each lower level of management gets some rights from the higher level of management and is responsible towards them resulting in the formation of a management structure. - **Economic Resource or a Factor of Production.** Management is an economic resource or a factor of production, such as land, labour, capital and enterprise. Economic development of a country is not at all possible in the absence of efficient management. - **Rational Process.** Management is concerned with planning, directing, controlling so that economic use of resources can be made. Management deals with the achievement of some clearly defined objectives. Group efforts are directed to achieve pre-determined objectives. The purpose of manufacturing enterprise is to profitably manufacture appealing products for customers. For this purpose, management organises, plans, directs, and controls an enterprise. In other words, management is a rational process. - **Management is an Integrated Process.** Management integrates human efforts with physical and financial resources. It creates mutual co-operation so that people can work together efficiently. It also combines men, money, materials and machinery in an appropriate manner. - **Management is activity based.** Essentially, the task of managing is known as management. Management is a distinct class of activities about which knowledge can be gained and skill, in its application, acquired. It is basically a series of inter-related activities. - **Management is intangible.** Management is an unseen force. Its functioning is not visible but its results are apparent. People judge the effectiveness of management on the basis of the end results although they cannot observe it during operation. However, the people who manage an organisation are tangible and visible. - **Management is creative.** Management involves creating an environment wherein people can perform their tasks efficiently and effectively. The internal environment has to change appropriately when there are changes in the internal environment. - **Management is multi-disciplinary.** Management has grown with the help of knowledge drawn from various disciplines, like Sociology, Economics, Psychology and Anthropology. Much of the management literature is the result of the application of these social sciences.