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Definition of Management

Management is generally concerned with planning, monitoring and controlling the organization and this can be achieved by three resources namely Man, Money and Machine. Management deals with effective utilization of all these elements with minimum utilization of resources towards maximization of profits. We at Courseworktutors understand the criticality of Management subjects and therefore we provide Management Assignment Help from best experts so that student’s work will be on safe hands.

Main Objectives of Management

  • Management helps in getting the maximum benefits by putting minimum efforts by effective utilization of
    Resources.
  • Proper management results in effective utilization of factors of production to a great extent which results in increasing efficiency by minimizing spoilages, wastages, breakage. Thus it results in savings of effort, money as well as time which is important for prosperity as well as growth of enterprise.
  • Management deals with managing and operating the process activities within organization.
  • Management also helps in taking the right decision at the right time through effective Staffing process.
  • Management focusses on planning as well as controlling every activity in each process starting from operations, personnel team, performance, management and managing the operations effectively.

Broad Categories of Management

The Concept of Management can be seen in following areas

  • Operation Management: Operations Management is concerned with the operating activities of business and managing it in a manner that will lead to effective utilization of conversion of materials and labor into goods so that profit can be maximized. Operation Management is considered as one of the core disciplines of management which involves overlooking on the core activities of the business.
  •  Strategy Management: The term Strategy is mainly concerned with formulating and management is concerned with effective planning. Hence the term Strategy management mainly deals with formulating, evaluating, as well implementing decisions so that organizations can grow and can achieve the desired results.
  • Project Management: Project Management deals with setting the project plan, determining the budget, setting deadlines, checking and managing resources.
  • Supply Chain Management (SCM): The process of transferring of Materials, information’s, Finances, from supplier to manufacturer and from manufacturer to Retailer and then to Consumer. Supply Chain Management involves integrating all these flows both internally i.e. within the companies and externally i.e. among companies. The main Concept of entire process of Supply Chain Management (SCM) is to reduce the inventory so that the product is available when it is needed by Consumer.
  • Financial Management: Finance solely deal with the affairs of Money and sources of Finance involved in business. Financial Management involves management and Continuation of monetary assets. It also involves planning in a manner which will not hamper the cash flow position of business and will ensure a guaranteed and optimistic cash flow.
  • Human Resource Management: The Purpose of Human Resource Management is to maintain balance between meeting needs of an employee and checking what best serves the market driven needs of an organization.
  • International Management: International Management is defined as the way of managing business operations in more than one country. Professionals engaged in International Management are familiar with language, culture, economic and political environment of various multinational firms with which they trade.

Related Topics

 

 

 

Managing Information Technology

 

 

 

 

Retail Management

 

 

 

Human Resource Management

 

 

 

Marketing Management

 

 

 

International HRM

 

 

 

Strategic Human Resource Management

 

 

International Management

 

 

Product Management

 

 

Human resource Planning

 

 

Marketing Mix

 

Marketing Strategy and Plan

 

Leadership

 

 

 

Managing Organization change

 

 

 

Motivation

 

 

Organization Behaviour

 

 

Organization Culture

 

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