Accounting technicians scheme west africa
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- Management involves decision making
- Management is an integrating process
- Management is dynamic not rigid
| Management is intangible: Intangible means anything which cannot be seen and touched, it can be felt only. Management is an unseen and invisible force. It cannot be seen but its presence can be felt everywhere in the form of results. The effect of management can be noticed in an organisation when targets are met according to plans, employees are happy and satisfied. g) Management involves decision making: Decision-making is an integral part of modern management. Essentially, Rational or sound decision making is taken as primary function of management. Every manager takes hundreds and hundreds of decisions subconsciously or consciously making it as the key component in the role of a manager. h) Management is an integrating process: Management undertakes the job of bringing together human physical and financial resources so as to achieve organizational purpose. Therefore, is an important function to bring harmony between various factors. i) Management coordinates all activities and resources: The essence of management is coordinating all of the different functions. Coordination, as it relates to business, is defined as integrating activities to ensure resources of an organization are used most efficiently to succeed in achieving the set goal. j) Management is dynamic not rigid: Management is dynamic as it must remain equipped to face various changes in the corporate environment caused by social, economic, technological, political, or human factors. k) Management is an art as well as science: Management involves a systematic body of theoretical knowledge as well as the practical experience of such knowledge. Management is the art of arts because it organizes and uses human talent. It is science also because Management follows a systematic method to find a possible solution fora problem. lb Management is being creative: The proper management means attaining the organisational objectives with the highest efficiency at the minimum possible cost. The job of managers is to make a productive enterprise out of available human and material resources. The basic aim of management is the optimum utilisation of the available resources. Effectiveness and efficiency are the two pillars on which the managerial performance is based. |