1. Management is goal-oriented: Management is not an
end in itself. It is a means to achieve certain goals. The basic goal of
management is to ensure efficiency and economy in the utilization of human,
physical and financial resources.
2. Management is universal: Management is an essential element of every organized activity irrespective of the size or type
of activity.
3. Management is an Integrative Force: The essence of
management lies in the coordination of individual efforts into a team.
4. Management is a Social Process: Management is done
by people, through people, and for people. The human factor is the most important
element in management.
5. Management is a continuous process: Management is
a dynamic and ongoing process. The cycle of management continues to operate
so long as there is organized action for the achievement of group goals.
6. Management is Intangible: Management is an unseen
or invisible force. It cannot be seen but its presence can be felt everywhere
in the form of results. However, the managers who perform the functions of
management are very much tangible and visible.
7. Management is an art as well as Science: It
contains a systematic body of theoretical knowledge and it also involves the
practical application of such knowledge.
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