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Nature and Significance of Management — Business Studies STD 12 Commerce — Question

CBSE BoardEnglish MediumSTD 12 CommerceBusiness StudiesNature and Significance of Management3 Marks
Question
Why is management considered a multi-faceted concept?
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Answer

Management is said to be multi-faceted concept as it is a complex process involving not just one but various dimensions. There are three main dimensions of management.
  1. Managing the Work: The performance of a definite work forms the basis of an organisation. With management this work is interpreted in terms of the objectives and goals and how they are to be achieved.
  2. Managing the People: As the work is to be done by the people, managing the people is another important dimension of management. It involves dealing with the employees both as an individual and a groups or teams. With management their strengths are utilised and weakness are worked upon so as to achieve the desired objectives.
  3. Managing the Operations: Every organisation involves a production process where the inputs are transformed into a product or a service. This production process requires continuous management.
    Thus, we can say that management is a multi-faceted process covering various dimensions simultaneously.

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