NAME: OMENKUKWU N OGOCHUKWU MATRIC NUMBER: 070931052 DEPARTMENT: PRAD COURSE CODE: COURSE TITLE:

ASSIGNMENT
What is management? According to the Wikipedia Encyclopaedia, it defines management as the act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively . It went further to elaborate that Management comprises of planning, organizing, staffing, leading or directing, and controlling an organization (a group of one or more people or entities) or effort for the purpose of accomplishing a goal . Henry Fayol (1916), provides a classical definitio n of management where he said that to manage is to forecast and plan,to organise, to co-ordinate and to control. However the business dictionary. Com defines management as The organization and coordination of the activities of an enterprise in accordance with certain policies and in achievement of defined objectives. According to ShinaAina (2002), since resources are scarce, the management competence would be judged by its ability to operate within ava ilable resources subsumed under what is popularly known as the 4ms. These are man, machine, money and materials. Fredrick Taylor later introduced the fifth known as time. According to the management guru Peter Drucker (1909-2005), the basic task of a management is twofold: marketing and innovation. From the above definitions we can define management as process of assembling and using sets of resources in a goal directed manner to accomplish tasks in an organisational setting. As a process management is a series of activities which involves planning, deciding and evaluating. Management also involves assembling and using set of resources. It brings together and puts into use many resources which comprises of both
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human, financial, material and informational. Management is also executed in a goal oriented manner which means that it is an activity with a purpose and direction. Finally management is carried out in an organisational setting; this means that it is carried out in a situation of interconnected individuals who attempt to accomplish common goals through different functions and co ordinations. Management in a nutshell can be said to be the act of managing resources to achieve pre -determined goal.