1. Management is known to have as many definitions as there are managers. Some, like a personnel manager, deal with human activities. Others, such as a financial magnate, prefer the quantitative aspects. Somewhere in between is the managing director or general manager, who is supposed to be concerned with all problems at once.
2. There are debates whether management is an art or a science and whether managers are born or made. From a sociological point of view management seems to be mainly an art (for example, how to motivate people to do their work), whereas from a quantitative point of view it appears to be more scientific. As for whether managers are born or made, there must, of course, be certain potential qualities, which can be effectively developed by proper training and experience.
3. In practical business, management is believed to be an art and a science of doing things through other people, but it also requires effective use of your own time. To operate a successful business, you need strong management skills. Effective management is the key to business success.
4. Management is supposed to include those personnel who have the right to make decisions that affect company’s affairs. Organization is the means by which management coordinates the efforts of employees to achieve the company’s objectives .Any organization involves structure. An organizational structure is known to be a framework enabling management to divide and control the responsibilities of individuals and departments.
5. The organizational structure being established areas of activities, levels of authority and duties must be clearly defined. Yet within this structure allowance must be made for initiative. Good management wants employees (and managers) to grow according to their abilities.