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What is the Nature and Scope of Management? [US]

Management is referred to as a process of getting the task or work done effectively and efficiently to help organizations achieve their objectives. The management process involves a series of steps undertaken to perform any activity, tasks, business goals, and operations. These steps include planning, organizing, leading, and controlling the resources to manage specific tasks and projects. The management process is undertaken by skilled managers and leaders who ensure company requirements are fulfilled efficiently. A smooth-running management is a prerequisite for the consistent growth of any company, and this is where the core concepts of management also participate. 

The core concepts of management include two widely explored areas: Nature and Scope. Following the set of rules and concepts under these two sections, a management professional hones proficiency in their role, leading to improved teamwork. In order to ensure transparency and efficiency in your management, ensure you know the intricacies of management nature and scope. 

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Let’s discuss the nature and scope of management to further expand your knowledge!

Nature and Scope of Management 

The scope and nature of management is a vast topic that demands in-depth analysis. Hence, explaining the nature and scope of management becomes quite challenging. Let’s discuss each term independently to understand it even better. 

The Nature of Management 

Management is a systematic process that helps identify skilled groups of people in specific domains to accomplish a particular activity with optimum results. This allows an organization to improve its efficiency and effectiveness. Listed below are teh defining features of management that aptly highlight the nature of management

1. Universal 

 

The skills and principles of management can be applied in any field, for instance, the ability to make well-informed decisions. The explored decision-making knowledge can also be applied to other businesses, making it universal. Hence, the management process can develop other managerial skills over time that will help individuals personally and professionally.   

2. Dynamic 

Management is dynamic as it keeps changing with the ever-changing environment caused by political, economic, technological, and human influences. The employees should have the flexibility and adaptability to perform under stressful situations. The employees should be given adequate training to gain confidence and knowledge to think critically under changing scenarios. 

3. Social 

Management is a social process responsible for organizing people in groups and managing them. Since human factors are more significant than any other factors, it is the responsibility of the management to develop relationships among people to gain productivity and efficiency. The management ensures the satisfaction of the people towards their work life. 

4. Intangible     

Management is an intangible process. While it lacks a physical appearance, it can be felt. For instance, when an organization accomplishes its target and employees stay motivated, the management is praised for its efficiency and effectiveness. On the other hand, when an organization fails to achieve its target and remains demotivated, the management is asked to understand the reason behind the failure of a team. 

5. Goal-Oriented 

All the activities undertaken by the management processes are goal-oriented. The main focus of the management is to accomplish the goals and objectives of the organization effectively. Having proper strategy creation skills is essential to fulfill objectives and help reach pre-determined goals. 

6. Coordinating  

In order to achieve productivity, there should be good coordination among the human resources. For instance, management works with plenty of teams, and each team should work closely for better outcomes. This will also help them to reduce confusion and high levels of retention. 

7. Production Factor 

Managers play a vital role in increasing the use of both capital and labor. Therefore, management is an imperative aspect of manufacturing. The manager has various responsibilities, like devising new strategies to keep the output incoming. They have to deal with employees’ strengths and weaknesses. They work on other various factors to balance and increase production. 

8. Professional 

You must have ample expertise and experience in the relevant domain as a manager. Management is supposed to be professional with a drive to deliver dedication through their performance. Along with motivation, punctuality is another factor that should be apparent in their approach as a professional. As a result, this will help to bring the best output from their team members. 

9. Crucial Part of Society 

Management prominently impacts societies, as it is the managers responsible for positively impacting communities through growth and organization.

10. Process

The management process consists of a series of actions to help them accomplish goals. Following each step of the process ensures higher success rates. 

Scope of Management 

As we have discussed the nature of management, now let’s discuss its scope. For better understanding, we can divide the scope of management into two sections: 

Activities 

Listed below are the activities of management: 

1. Planning 

Planning is one of the first steps in the management process. It is crucial as the entire project or business is planned. In this step, the management decides which goals, strategies, and action courses are appropriate to implement within a project. Planning also comprises budgeting, sales planning, workforce planning, the technology required, and many other aspects. 

2. Organizing

After the planning stage, the next step is to organize. In this process, the workers can coordinate together to accomplish organizational goals. To make any project or business successful, the manager must organize all the basic requirements, such as capital, machinery, technology, and human resource. 

3. Controlling 

It is the management that evaluates the achievement and has the ability to take action. Hence, managers must keep constant track of project progresses to further evaluate the business process, the resources, and team performances. A manager must take quick and corrective action in case of any deviation. 

4. Coordinating 

Management ensures coordination and unity among participating people from different domains, collectively working on a single project to reach a target. This coordination and unity will help the employees accomplish tasks and achieve the organization’s goals. 

5. Directing 

 The management is responsible for directing individuals on the right path, encouraging them to meet the organizational objectives. 

Branches

Let’s take a look at the branches of management.

1. Marketing Management 

The marketing management process involves planning, organizing, and directing the activities of the working employees in the marketing department. Marketing management aims to increase consumer awareness of the item or services. This management branch ensures the resources are utilized with the greatest possible results. 

2. Office Management  

Office Management includes controlling the activities of the office to accomplish collective organizational targets, such as planning and implementing work through all sections of an office. It further refers to further management of guiding and organizing activities to ensure the projects smoothly sail across all sections of an organization. 

3. Production Management 

The production management process comprises a vast set of functionalities that relate to the creation of a product or service. Without production, there cannot be finished goods or services, and the lack of production management can drastically halt interest and profit generation within any company. Production management covers quality control, plan layout, research, and development. 

4. Personnel Management 

Human resources is one of the most crucial variables determining a company’s success. Directing and motivating the employees and personnel planning are some of the managerial activities in personnel management. This management aspect is essential for the employees to accomplish the organizational goals. Without fulfilling the needs and wants of the employees, it becomes difficult for the organization to succeed. 

5. Financial Management 

Every organization prioritizes financial management as it might get tricky if finance is not managed correctly. Effective financial management ensures that stakeholders get fair returns, calculating capital requirements while aiding the company to retain a significant financial balance through all its processes. Financial management is also responsible for the coordination of duties among the departments.

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Conclusion 

Every organization should have impactful management to fuel different organs to attain organizational goals. Management, as a process, can be implemented on any project or business. The central idea is to plan, organize, create a team and execute the plan for the desired result. The nature and scope of management play an imperative role in achieving organizational goals and objectives. By knowing the nooks and crannies of management, managers and working personnel can actively monitor themselves and each other towards improved performance. 

If you’re interested in further molding a career in management, check out upGrad’s Professional Certificate Programme in HR Management and Analytics. Offered under the expert faculty guidance of the Indian Institute of Management, Kozhikode, this program equips learners with in-demand skills to pave a successful career in the HR management domain.

You can also check out our free courses offered by upGrad in Management, Data Science, Machine Learning, Digital Marketing, and Technology. All of these courses have top-notch learning resources, weekly live lectures, industry assignments, and a certificate of course completion – all free of cost!

What are the benefits of effective management?

Effective management has various benefits, such as increasing productivity, enhancing employee engagement, helping strengthen decision-making abilities, and increasing the level of adaptability.

Explain the scope of management?

The scope of management includes financial management, marketing management, personnel management, office management, and production management.

What are the functions of management?

The five primary functions of management include - Planning, Organizing, Controlling, Leading, and Staffing.

 

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