Question

Define management as a modern concept.

Hint:

Think of the modern concept as a formula: \textbf{Management = Process + Effectiveness + Efficiency}. If any one of these three elements is missing, the management is incomplete.

Answer 1

Step 1: Core Definition.
In the modern context, management is defined as the process of getting things done with the aim of achieving goals effectively and efficiently. It is viewed not just as "managing people," but as a systematic process involving a series of inter-related functions.

Step 2: Key Pillars of the Modern Concept.
The modern concept of management rests on three essential pillars:

Process: It refers to the primary activities or functions that managers perform, namely Planning, Organising, Staffing, Directing, and Controlling.
Effectiveness: This is concerned with doing the right task and achieving the end results or goals within the specified time frame.
Efficiency: This is concerned with doing the task correctly and with minimum cost. it involves a cost-benefit analysis, aiming to derive maximum output from minimum resources.

Step 3: Integration and Purpose.
Modern management emphasizes that being effective is not enough; one must also be efficient. A manager who achieves a production target (effective) but does so by wasting huge amounts of raw materials (inefficient) is not considered a successful modern manager. The goal is to balance both to ensure organizational sustainability.