It is very difficult to precisely state the scope of management. However, management includes the following aspects:-
Subject-matter of Management
Management is considered as a continuing activity made up of basic management functions like planning, organizing, staffing, directing and controlling. These components form the subject-matter of management.
Functional Areas of Management
Management covers the following functional areas:-Financial Management: Financial management includes forecasting, cost control, management accounting, budgetary control, statistical control, financial planning etc.Human Resource Management: Personnel / Human Resource Management covers the various aspects relating to the employees of the organisation such as recruitment, training, transfers, promotions, retirement, terminations, remuneration, labour welfare and social security, industrial relations etc.Marketing Management: Marketing management deals with marketing of goods, sales promotion, advertisement and publicity, channels of distribution, market research etc.Production Management: Production Management includes production planning, quality control and inspection, production techniques etc.Material Management: Material management includes purchase of materials, issue of materials, storage of materials, maintenance of records, materials control etc.Purchasing Management: Purchasing management includes inviting tenders for raw materials, placing orders, entering into contracts etc.Maintenance Management: Maintenance Management relates to the proper care and maintenance of the buildings, plant and machinery etc.Office Management: Office management is concerned with office layout, office staffing and equipment of the office.
Management is an Inter-Disciplinary Approach
Though management is regarded as a separate discipline, for the correct application of the management principles, study of commerce, economics, sociology, psychology, and mathematics is very essential. The science of management draws ideas and concepts from a number of disciplines making it a multi-disciplinary subject.
Principles of Management
The principles of management are of universal application. These principles are applicable to any group activity undertaken for the achievement of some common goals.
Management is an Agent of Change
The techniques of management can be improved by proper research and development.
The Essentials of Management
The essentials of management include scientific method, human relations and quantitative techniques.