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What are the components of management?
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Management consists of following:
(1) Organisational activity—Management is a group activity. Management is to coordinate the actions and reactions of individuals.
(2) Goal formation—Management has some definite goals before it to ach-eve. Goals are set considering the actions and reactions of individuals.
(3) Goal accomplishment and evaluation—Management also evaluates the effectiveness of goal accomplishment.
(4) Organisational Survival—In the short run, managers use the resources available to them as efficiently as possible and practice the art of implementing their decisions. The ability to forecast and adopt to change are also important for organisational survival.
(5) Implementation—Action is the creed of management. Policies and programmes are implemented by management.
