Business Coursework

Business coursework deals with different aspects of management. In the coming sections our aim will be to find the answers about different aspects of management.
The study and application of management techniques in managing the affairs of the organization have changed its nature over the period of time. Though management as a practice came long ago, in fact, with the existence of human groups themselves, its impact as a formal body of knowledge has been felt much later, particularly during the last five or six decades. Various contributions to the field of management have changed its nature, for example, from merely a practice to science also. Similarly, other changes have also occurred. Thus the nature of management can be described as follows:
1) Multidisciplinary: Management is basically multidisciplinary. This implies that although management has been developed as a separate discipline, it draws knowledge and concepts from various disciplines. It draws freely ideas and concepts such disciplines as psychology, sociology, anthropology, economics, ecology, statistics, operations research, history etc. Management integrates the ideas and concepts taken from these disciplines and presents newer concepts which can be put into practice for managing the organizations. In fact, the integration of knowledge of various disciplines is the major contribution of management and this integrated discipline is known as management. Therefore, the contributions in this field can be expected from any discipline which deals with some aspects of human beings.
2) Dynamic nature of Principles: Principle is a fundamental truth which establishes cause and effect relationships of a function. Based on integration and supported by practical evidences, management has framed certain principles. However, these principles are flexible in nature and change with the changes in the environment which an organization exists. Because of the continuous development in the field, many older principles are being changed by new principles. Continuous researches are being carried on to establish principles in changing society and no principles can be regarded as a final truth. In fact, there is nothing permanent in the landslide of management.
3) Relative, not Absolute Principles: Management principles are relative, not absolute and they should be applied according to the need of the organization. Each organization may be different from others. The differences may exist because of time, place, socio-cultural factors etc. However, individuals working in the same organization may also differ. Thus, a particular management principle has different strengths in different conditions. Therefore, principles of management should be applied in the light of prevailing conditions. Allowance must be made for different changing environment.
4) Management, science or art: There is a controversy whether management is science or art. However, management is both a science and an art.
5) Universality of Management: Management is a universal phenomenon. However, management principles are not universally applicable but are to be modified according to the needs of the situation.
There are many more aspects of management besides those mentioned above.
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