Principles of Management (Part 1) by lexymaine

life · @lexymaine · Sep 22 '18

$6.26

Principles of Management (Part 1)

![Project-Scope-Management-Cover.jpg](https://cdn.steemitimages.com/DQmU96jLJndJiBfYn19CcQVuAHpyv1YztkqhLwuwg8NrLWv/Project-Scope-Management-Cover.jpg)
[Image source](https://www.simplilearn.com/ice9/free_resources_article_thumb/Project-Scope-Management-Cover.jpg)
Management has been the core ingredient of every successful entity living in and out of the universe. It's an essential tool for the effective use of the resources we have. We cannot live it relegated to the background once we are struggling to succeed and survive. Well, I do not go about my daily activities without my "management" checked out. Let's have a look at what this revolutionary tool stands for?
![shutterstock_2666132.jpg](https://cdn.steemitimages.com/DQmR9SQNzYGvQjKyoM1xAWYhsnwmdc8WL2YeEbcMo3foLNk/shutterstock_2666132.jpg)
[Image source](https://staffingpowerusa.files.wordpress.com/2012/09/shutterstock_2666132.jpg)
### What is Management?
Management has had many definitions by renowned persons across the globe.
<center> _Mary Parker Follet_ describes management as getting things done through other people.</center>

<center>_H. Fayol_ said that to manage is to forecast and plan, to organize, to command, coordinate and to control.</center>

<center>Management is a process and the process consists of planning, controlling, coordinating and motivation. - E. F. L. Brech(1957)</center>

Today the contemporary definition for management is the activity of getting other people to transform resources so that the results add value to the organization in terms of reaching its goals. -Mike Smith (2007)

The definitions go on and on but from a technical perspective, I can define Management as a process of transforming an input value (X) to earn an output value of X+Y. Thus, it is the activity of using resources in a effective and efficient way so that the end product after labour is more than the initial resources.

### Effective & Efficient Way of Managing Resources. What do the two keys words stand for?
Effectiveness in the definition above deals with achieving one's goals with the available resources while efficiency stands for the utilization of limited resources to produce a desired output.

### Nature & Scope of Management
Just as we apply management in our crypto lives, it can be said that this is an applied technique. It plays eminent roles in so many field including psychology, economics, sociology, health science, etc. Disciplines devoted to studying people, eg. Psychology, sociology, have developed and generated the expansion of knowledge management.
Management as a course of study enables an individual to have the basic idea of both the common aspects of a managerial job and the forms in which they exist.

👍 minnowbooster, minnowsupport, surfyogi, wafrica, lexymaine, steemhq, gadol, screenwriterml, lordjames, nmalove, caps

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@minnowsupport · Sep 22 '18

<p>Congratulations!  This post has been upvoted from the communal account, @minnowsupport, by lexymaine from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows.  Please find us at the <a href="https://discord.gg/HYj4yvw"> Peace, Abundance, and Liberty Network (PALnet) Discord Channel</a>.  It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.</p> <p>If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=102530.639667%20VESTS">50SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=205303.639667%20VESTS">100SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=514303.639667%20VESTS">250SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=1025303.639667%20VESTS">500SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=2053030.639667%20VESTS">1000SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=10253030.639667%20VESTS">5000SP</a>. <br><strong>Be sure to leave at least 50SP undelegated on your account.</strong></p>

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@wafrica · Sep 22 '18

Hello! I find your post valuable for the wafrica community! Thanks for the great post! We encourage and support quality contents and projects  from the West African region.<br>Do you have a suggestion, concern or want to appear as a guest author on WAfrica, join our [discord server](https://discord.gg/AfFUhnC) and discuss with a member of our curation team.<br>Don't forget to join us every Sunday by 20:30GMT for our Sunday WAFRO party on our [discord channel](https://discord.gg/AfFUhnC). Thank you.

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@steemhq · Sep 24 '18

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