Management is a process of planning, organizing, actuating, and controlling to accomplish organizational objectives through the coordinated use of human and material resources.
SCOPE OF MANAGEMENT
The scope of management is very wide. According to Herbison and Myers, it refers to three distinct ideas. They are:-
a) As an Economic Resource:- The effective use if the five M’s of management, i.e., money, material, manpower, machinery and method depends on the quality of management. In other words, how effectively and economically the five M’s are combined together to produce desired results.
b) As a System of Authority:- According to Herbison and Myers, management is the rule-making and rule-enforcing body. It is bound together by a web of relationships between superiors and subordinates, that is, people are bound by the authority relationships.
c) As a Class or Elite:- The management class has become very important in modern organization owing to its contribution to business success. As a separate group, the term management refers to the group of individuals occupying managerial positions.
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