to the exciting world of management studies
A new series on management
education. All about what it means, the ground covered, the options
available to a student and how good it is as a career. But first,
what is management?
definition of management is getting work done through people,
but real management is developing people through work."
education has assumed tremendous reputation in recent times as
an attractive career option. Many professional graduates in streams,
including engineering and technology, opt for business school
programmes, with a view to furthering their job potential, and
deriving better job satisfaction. Management offers one of the
most exciting and rewarding careers for the right persons.
a question is raised as to what exactly is management. Is it just
managing institutions? Does it call for special skills, apart
from common sense and dedicated work? In order to perform well
as a manager, should one undergo the rigours of institutional
training in this discipline, as in medicine, engineering, architecture,
geology, physical therapy, or biotechnology?
has been defined variously. Some say that it is just getting things
done through people. However, there are certain core concepts
pertaining to management. It involves a variety of functions depending
on the circumstances. The important functions of management are:
planning, organising, leading and controlling/coordinating the
work of members of an organisation. The available resources will
have to be deployed most effectively. This comprises human, material,
financial, and intellectual resources. The basic process involves
setting objectives and achieving them through effective strategies.
Storing information, monitoring, and taking steps for course-correction
are integral parts of any managerial effort. The proof of the
pudding is in the eating.
well a manager performs is judged by how well he/she gets
things done, utilising the resources on hand. He/she has
to be a go-getter at all times. He/she should have fine
one has to emphasise what management is not, since there
is a lot of misunderstanding about the structure and functions
of management. It is not an agglomeration of general theories
and description of procedures. It is not just an exercise
in qualitative appreciation; it involves structured quantitative
estimates, analysis, and derivation of the best courses
it necessary for people aspiring to occupy managerial positions
to learn theories of management? Is not some experience
in the line sufficient to come up as good managers?
The response to this question is that
one should have a sound theoretical background to take up
the challenges offered by the complexities of modern management.
The theories do help us to appreciate what is relevant and
what is not, and also to prioritise the areas that have
to be focused.
Objective analysis of management problems
and their solution, handling people, budgeting, assessing
financial implications of various operations, effective
communication, and building relationships become easier
with the strength given by theoretical study of management
We should bear in mind that sound
theories in management have not come from armchair intuition,
but from the results of case studies by experienced experts
in real life situations in different environments.
mentioned certain functions of management. Let us look at
these in some depth.
Planning: Planning involves thinking ahead
in respect of the goals and objectives to be achieved and
the actions to be taken in a systematic manner based on
sound logic and feasible methods. We may come across confusing
terms such as goals, objectives and tasks.
Goals are often general statements, but objectives are more
specific. Goals may be likened to a mission.