12th Class Business Studies Nature & Significance Of Management

  • question_answer 4)
    Why is management considered a multi-faceted concept?

    Answer:

    Management is considered as a multi-faceted concept because it is a complex activity that has three main dimensions. These are (i) Management of Work All organisations perform some work e.g., producing or selling. A work is defined as the goals to be achieved. (ii) Management of People The main asset of an organisation is the human resources. This resource has to be managed in such a manner that it helps to achieve the goals of the organisations. (iii) Management of Operations All organisations either produce a product or provide a service. This requires a production process which means using an operation to convert the inputs into the output. It is interlinked with both management of work and management of output.    


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