Administration as a part of Management
Another school of thought treat management as more comprehensive functions which includes administration also. Administration is concerned with day to day function and is part of management. According to this approach , the previous analysis stands completely reversed.
Management and Administration are same
According to third approach , which is more popular and practical one, management and administration are same. The distinction b/w two terms may be drawn by analyzing the origin of the word administration. Its origin found in the bureaucratic structure of government or in regulation of some laws. The govt. uses the word administrator instead of manager, to handle and manage its affairs. On the other hand, management is used in Business Sphere, whether the administration is used in non-business fields and management is used in business field does not make a fundamental distinction b/w the two because of similarity of the process involved in these.
Importance of Management
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Issue before present managers is to how to take care of these changes so that organization achieve their objectives. The importance of management may be traced in following context: Effective utilization of resources Development of resources To incorporate Innovations Integrating various Interest Groups Stability in the Society
Nature of Management
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Nature of Management can be described as follows: Multidisciplinary Dynamic nature of principle Relative and absolute principles Management: Science or Art Management as Profession Universality of Management
Management :Science or Art