Management Journal - Assignment Example

The term management can be defined as a process of getting the work done in an effective and well-organized manner with the help of others (i.e. human resource). It is consider both as a science and art. It is seen as an art because of the fact that management desires to make people effective and dedicated towards their work and responsibilities ensuring quality performance. Subsequently, it is also considered as a science because it is a systematic process where various stages and frameworks are involved (Drucker 36-46).

Furthermore, management is also considered as the process of accomplishing any task with the optimum use of various resources available within any organizational setting. Management works in a chain process where effectiveness of one function is entirely dependent on the effective and error-free operations of other functions in the chain. It has also been observed that the practice of management has become a backbone of operations for companies all around irrespective of their size or nature of their operation.

This is owing to the increased dependency of business on management in the modern day context. Hence, it can be affirmed that management is one of the most significant business practices which largely involves the coordination and assimilation and maximum utilization of resource of a business unit towards ensuring the accomplishment of the organizational targets (Drucker 36-46). 17 SEPTEMBER 2010: In the previous entry, discussion has been made about the concept of management in today’s world in context of the business.

From that day till now, some knowledge has been gathered regarding the importance of management in today’s competitive nature of business through academic learning and practical understanding. It has been affirmed that management holds an important and irreplaceable position within any organization. In support of this statement it can be stated that the success of today’s business unit is largely dependent on the effectiveness of the management and the approach of the mangers altogether. Contextually, good management team will have the ability to ensure right decision making for the business which acts as the ultimate reason for enhanced performance of the business.

Furthermore, it has also been learnt that a good management team will also have the quality to anticipate the threats and challenges to the business and work accordingly to deal with the same. All the organization operating in the global business world is dependent on the performance of their workforce together as group towards the accomplishment of organizational objectives. In this regard, it will also be worth mentioning that the main functions of management within any organization is to plan, organize, control and coordinate the organizational resource (i.e. including human resource) towards a positive direction, further yield positive results for the overall business unit.

In precise, it can be stated that management within any organization deals with differentiated departments of the unit affirming efficiency in each one of them. Owing to all this significant role, management plays within any organization, it can be ascertained as a life giving element to the business. Moreover, it has been discussed that in the absence of proper managerial function, the overall performance of any business