Management is a practice of managing in business and all human organizations activities. Management instructs the people to make an effort to accomplish the desired task. Management can be defined as administration of human groups and organization also which motivates the people to do something individual or collectively according to their role set by the senior authorities or officials. Briefly management is the administration of a team which is prepared for a specific task.
The word Management is derived from the Italian word maneggiare (to handle) which has also adopted from Latin word manus (hand). Later it was added in French language and then English languages adopted it in 17th and 18th centuries. Management is a new discipline in respect of other streams of education. We can see its evidence in ancient literature as Chanakyas’s Arthashastra (in 300BC to 400BC) which has the complete knowledge of that time management system.
Management started its forming in 17th century from Europe with the establishments of new industries and giant machines. Initially it was used by the that time thinkers to grow the productivity and profits in industries likewise Adam Smith, John Stuart Mill, Eli Whitney, James Watt, Mathew Boulton, Henry L. Gantt’s J. Duncan, Frederick Winslow, Taylor and many other famous thinkers and researchers worked on management.
The first theory of management came in 1920, while the Harvard Business School introduced the Master degree program in Business Administration and that time famous educationalist like Henri Fayol, Alexander Church Max Weber and other helped to describe and categorize it systematically. After some time management was accepted as a science and it started to use complex mathematical formulas, graph, statistics and other techniques to acquire more efficiency. Today it has taken a shape of completely individual stream of education and is taught in thousands of universities as the main subject but it is also developing till now and it has added some more new thoughts as management by objectives, re-engineering, six sigma, group management theory by using latest information technology techniques.
Management is used to control the overall functions and activities of an organization or group to obtain the group’s objectives. It also helps at everywhere to set up and organize a team or group for a specific goal even in the government sectors and personal programs too, where it manages all the procedure and working schedules. It works through planning, recruiting, organizing, monitoring or supervision and other techniques to accomplish the work. Organization administrators use management to troubleshoot the problems of the business. Management plans and motivates the people to get more productivity and expertise to enhance their capabilities to complete the given assignment. It is used to establish new setups as well as to operate a running organization. It takes help of psychological principles, mathematical analysis, statistics and other motivation techniques to get maximum profit by using minimum resources and manual labor. It is also used to draft and making new policies related to recruiting people, finance, production, marketing and distribution of goods and services.
Management has six major branches as well as other sub branches. These main branches are— Human Resource, Operation, Production, Strategic, Marketing, Financial, Information Technology. Other branches are also taught in management schools and universities such as resource management (including water, petroleum and other resources), NGO, public and organization management.