Economics and Business

Concept Paper for the Discipline of Management

Definition
Very simply, management is the process of getting the job done through others. Henri Fayol, known as the father of Modern Operational Management, defined management as ‘to manage is to forecast and plan, to organize, to command, to coordinate and to control’. But most of the people one not interested to be commanded.
In this situation, to define management, Heinz Weihrich & Harold Koontz said, ‘Management is the process of designing and maintaining an environment in which individuals, working together in groups, efficiently accomplish selected aims’.

Two types of elements are identified which constitute the process of management. 
These are :
1. Internal Factors- planning, organizing, staffing, leading and motivating, coordinating, and controlling.
2. External Factors- economics, technological, social, ecological, political, and ethical.

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