Define management.

Question

Three friends, Aman, Ashish, and Ashi, after completing their MBA from a reputed management institute, formed a startup named ’Solutions’. The goal of the startup was to make a social and environmental impact through its services. ’Solutions’ supports social business ideas to improve living conditions in slums of Mumbai. As all the three friends are specialised in social work, they adopted three different slums of Mumbai and started educating the slum dwellers in their own creative manner. Aman used ’playway method’, Ashish used ’music’ as a method of learning while Ashi used ’activity-based method of learning’. They used basic knowledge in their unique manner and were able to educate the slum dwellers. It implies that skillful and personal application of acquired knowledge varies from individual to individual in achieving desired results.

(a) Identify and state the nature of management discussed in the above case.

Answer 1

Step 1: Simple working definition:
In everyday terms, management means coordinating people and resources so that a group achieves objectives it could not achieve by individual, uncoordinated effort.

Step 2: Key feature:
It is result-oriented — success is judged by whether goals are actually accomplished, not merely by the effort put in.

Final Answer:
Management coordinates human and material resources towards achieving a group's predetermined goals efficiently.

Define management.

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Solution and Explanation

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