Articles Management Principles of Management social

Management, always important in all spheres of economic activity, has never been of such critical significance as today, as it plays a significant role in all sphere of economic activity

Some of the general and significant influences which have brought about this change.
1. Earlier individualistic society had now become amorphous.

the collectivist or individualist character of a society will influence the course of economic development, and simultaneously economic growth and changes in economic structure will alter the orientation of the society toward individualism or collectivism. The recognition of this two-way causality suggests four broad hypotheses concerning the interaction between economic and cultural factors: (1) economic development is impeded by collectivism and facilitated by individualism; (2) economic development is facilitated by collectivism and impeded by individualism; (3) economic development promotes collectivism and erodes individualism; and (4) economic development erodes collectivism and promotes individualism.

Only groups and institutions can perform but they are far from homogeneous or crystallized

2) As earlier noted, there is a shift toward pluralism, of multiple competing interests, concentrated round power andservice centers. This calls for a lot more adjustment,balancingand coordination by each enterprise in the system.

3) The interface between all social and economic units,’including the government machinery, is now wider, morecomplex and gossameric.This has brought forth a newdemand on the managerial skill

4) People have come closer to industries and institutions andvice-verse. Whether as tax payers, consumers, benef iciaries or employees, they cannot be taken for- granted. A new vigilanceisdemanded of the present management to handle such asituation.

5)The economy is much more planned and regulated today in amacrosense. An enterprise management has a defined (and delimited) periphery within which to function. It sets a’severedemand on the management’s ingenuity and skill of adjustment.

6) The economic laws and regulations are many and ubiquitous.They often shift and change. An enterprise needs a closevigilance that the best and the safest course is adopted on theseregulatory fronts.

7) The, institutional inundation has called for enormous contactsliaison and coordination. Meetings, conferences, consultationsand the role of influence have grown enormously over theyears.

8)Systems refuse to work on an even keel. A fish plate seems tobe torn the rails every kilometer or two. The management at thewheels’ must pass watchful nights with its search-light on.

9) The humanelementin management, at all levels of the team,is’more unpredictable than ever. Bending the concerted humanenergies and motivation to the common enterprise goal needsmagical powers of administration.

10) The lines of discipline,well-recognized and respected twodecades ago, have now eroded end thinned to nothingness.We seem to be at the crossroads where individual’sright and-demands of factions vie and compete, in devastating rivalries,with.the common social interest.’This influence is discernible’where poverty and freedom.rub shoulders in the developingworld..Constant management-action is needed to even out thisdiscordant note in the environment, both external and internal.

11)Social accountability of business has developed as a growingconsciousness. Government machineries have been set up toenforce this accountability.This has caused,willy nilly,aconflict situation. A greet deal of management judgment andwisdom,is celled upon to resolve this conflict, consistent withenterprise success.

12) Professional managementin farming and the small sector of the economy is either absent or in a rudimentary stage. A vast amount of managerial function is needed as essential input inthese two vital sectors.

13)In a developing economy the. basic goals are known but largely. Unfulfilling. The critical constraints are two: -(1)Management of the resources and(2) Making full use of vast untapped opportunities. Both these are important management areas. It is a truism that no country is poor, no economy stagnant or industry tardy of growth because of resources constraints. The reel limitation is management with all its skills and obligation.