Question

State the various concepts of management.

Hint:

Remember: Management = Function + Process + Discipline + Resource + Universality + Dynamism.

Answer 1

Management has been explained through different concepts and approaches. The major concepts of management are:

Functional Concept: Management is considered as a set of functions such as planning, organizing, staffing, directing, and controlling.
Process Concept: It is a continuous process involving interrelated activities performed to achieve organizational goals.
Discipline Concept: Management is viewed as a discipline that provides systematic knowledge and principles.
Resource Concept: Management is regarded as a resource like men, money, material, and machines, which must be utilized effectively.
Universal Concept: Management principles and practices are universal and can be applied in all types of organizations (business, social, political, etc.).
Dynamic Concept: Management adapts to changes in the business environment, technology, and social needs.

Conclusion: Management is both an art and science that ensures the efficient use of resources and achievement of objectives.