Nature of management:
Nature of management can be described as follows.
Continuous Process: Management is a never ending process. It will remain the part of organization till the organization itself exists. Management is an unending process as past decisions always carry their impact for the future course of action.
Universal in Nature: Management is universal in nature i.e. it exists everywhere in universe wherever there is a human activity. The basic principles of management can be applied any where whether they are business or non-business organization.
Multidisciplinary: Management is basically multidisciplinary. Though management has developed as a separate discipline it draws knowledge and concepts of various other streams like sociology, psychology, economics, statistics etc. Management links ideas and concepts of all these disciplines and uses them for good-self of the organization.
Management is a group activity. Management is a vital part of group activity. As no individual can satisfy all his needs himself, he unites with his co-workers and work together as an organized group to achieve what he can not achieve individually.
Management is goal oriented: Management is a goal oriented activity. It works to achieve some predetermined objectives or goals which may be economic or social.
Dynamic: Management is dynamic in nature i.e. techniques to mange business changes itself over a period of time.
System of authority: Authority is power to get the work done by others and compel them to work systematically. Management can not perform in absence of authority. Authority and responsibility depends upon position of manager in organization.
Management is an art: Management is considered as art as both requires skills, knowledge, experience and creativity for achievement of desired results.
Management is Science. Management is considered as science. Science tells about the causes and effects of applications and is based on some specific principles and procedures. Management also uses some principles and specific methods. These are formed by continuous observations.