Management Process: Key Steps & Functions [2026 Update]
![Management Process: Key Steps & Functions [2026 Update]](https://cdn.collegevidya.com/blog/what-is-management-process-concept-objectives-features-principles-scopes.webp)
- Here in this blog, you can get a detailed guide about the management process with its definition, steps, examples, concepts, objectives, functions, and more.
What is management? Definition, Examples, and Meaning of Management
Management as a process and practice has been defined by different theorists in various ways. Management has been defined as the “process of designing and maintaining an environment in which individuals, working together in groups, efficiently accomplish selected aims" by Harold Koontz and Heinz Weihrich. From this definition, one can understand that in the simplest terms, management refers to the process in which a group works, under systematic direction, towards efficiently achieving shared goals. The entire management process revolves around the central aspect of working and utilizing resources efficiently with the ultimate aim of goal completion. A simple example of management will be a teacher managing and arranging a committee of students to conduct an annual day. This would include A Group: This case includes the group of students who will be involved in the performances and arrangements of the annual day. A Shared Goal: In this case it is the smooth conduction of the school's annual day. Resources: This case involves the various monetary resources, human resources (students and teachers who will perform and organize the function), and the various costumes and props involved in the annual day. This is a simplistic example of how management as a process works; more nuanced examples of management include corporate management, financial management for a company, management of a team in a firm, etc. From hereon, we will discuss management as a process in the context of professional environments and companies.
Explorer Our Popular Diploma Management Course
Popular Leadership & Management Course Diploma In Banking & Finance Diploma In HR Management Diploma In Business Management Diploma In Marketing Management Diploma In Financial Management Diploma In Operations Management Diploma In Supply Chain Management Diploma In International Trade Management Diploma In Wealth Management Diploma In Retail Management Diploma In IoT Online Diploma Courses
Concept of Management
To understand the concept of management, a Threefold Model of Management has been developed by Harbison and Myers, which has been explained in simple terms for you here: Management as an Economic Factor: As per this approach, management is an essential factor that is involved in the economic aspects of the development of any organization, region, or country. So, management and economic development go hand in hand—if the economic improvement of a company/nation is to be improved, then the need for management will also grow. For example, management is important to ensure efficient functioning and goal completion; if a company wishes to grow itself and maximize profits, then it must also focus on management. Management as an Authority: From a historical perspective, the domain of management developed as a form of authority in an organization. With numerous developments and evolutions in management, the approach has been refined a lot today, and the approach has changed from purely an authoritative one to a mix of democratic, participatory, and constitutional approaches to management. Management as a Part of Class and Status System: From a larger social perspective, management as a process represents a class and status system. Being aimed at increasing the efficiency of work to ultimately achieve goals, management needs to be a procedure of much strategy and planning, all of which require greater intellectual involvement. Thus, as a result, management is viewed as constituting a system of class and status due to the supervisory role it plays in organizational functioning. The modern corporate viewpoint wherein career escalation is often viewed as climbing up from entry-level or middle positions to higher and top-level managerial positions is rooted in this approach of management.
Objectives of Management—What Does Management Seek?
When talking about management, the understandable question that arises is, "Why need management at all?" What is the objective of management as a process, and what does it seek as the ultimate goal? As you might have already guessed, management ultimately revolves around the fulfillment of a shared goal. But management is much more than just goal completion; it is the efficient and cheapest way of goal completion (Henry Fayol). The basic objectives of the management process are listed here: Organizational Objectives of Management: This includes the various objectives and goals that management seeks to achieve from the company's perspective, i.e., at the organizational level. These include the utilization of minimum resources to produce the maximum outputs and production, increasing the productivity of an organization, increasing the efficiency of work, maintaining quality, and maximizing profits. Personnel Objectives of Management: Undoubtedly, the personnel, or the members involved in the process of management, are one of the crucial aspects of management. So, an important objective of management is to also effectively meet the goals of the members of an organization; promote their personal development; increase their motivation levels; boost their productivity; boost their morale; maximize their potential, and so on. Social Objectives of Management: As already stated, the objective of management is not only to meet the goals of an organization but also to do so in a way that ensures the larger welfare of society. For instance, at the social level, the objectives of management include improving the quality of life of people through efficient functioning, upliftment and betterment of the society through shared goal achievement, social justice by improving the quality of life of members of the society at large; and so on. So, it can be said that the management of any work or organization works at serving the personnel objectives at the grassroots level, the organizational objective at the intermediate level, and the social objectives at a broader level.
🎓 Unlock Up To 100% Merit Scholarships for 2026 Admissions
Apply via EduXTech Common Form & get direct counseling from top NAAC A++ Universities.