The important features of management are:-
a) Management is Intangible: – It is intangible as its presence can only be felt by the results of its efforts in the form of production, sales, and profits.
b) Management is Goal Oriented: – Management seeks to achieve goals. These goals may be economic or non-economic.
c) Management is Universal: – Management is needed in all types of organization, e.g., University, clubs, business etc. The principles however, need careful application depending on situational demand.
d) Management is Social Process: – According to Newman, it is a social process because it deals with people. Managers have to make the best use of resources for the benefit of society as a whole.
e) Management is a Group Activity: – Management is concerned with getting things done through people. It helps people in realizing individual as well as group goal in a coordinated way.
f) Management is a System of Authority:- Authority is the right to give orders and the power to obtain obedience from subordinates. So, management is the rule-making and rule-enforcing body in an organization.
g) Management is an Activity:- Management is a distinct activity. It can be studied, knowledge about it obtained and skills in its application can be acquired.
h) Management is Dynamic:- It tries to visualize problems before they turn into emergencies and take suitable steps. According to Ducker, ‘Managers do not wait for future, they make the future.’
i) Management is Science and an Art:- Management is a systematized body of knowledge based on certain principles capable of general application. The management principles can be applied by persons working in various capacities. It is an art because it involves the use of know-how and skills like any other art.
j) Management is Multidisciplinary:- Management has received rich contributions from various disciplines like psychology, sociology, etc. The insight obtained from these disciplines greatly helps managers in understanding the human mind.
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