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Sia ? 4 years, 6 months ago
| Basis | Delegation | Decentralization |
| Meaning | Managers delegate some of their function and authority to their subordinates. | Right to take decisions is shared by top management and other level of management. |
| Scope | Scope of delegation is limited as superior delegates the powers to the subordinates on individual bases. | Scope is wide as the decision making is shared by the subordinates also. |
| Responsibility | Responsibility remains of the managers and cannot be delegated | Responsibility is also delegated to subordinates. |
| Freedom of Work | Freedom is not given to the subordinates as they have to work as per the instructions of their superiors. | Freedom to work can be maintained by subordinates as they are free to take decision and to implement it. |
| Nature | It is a routine function | It is an important decision of an enterprise. |
| Need on purpose | Delegation is important in all concerns whether big or small. No enterprises can work without delegation. | Decentralization becomes more important in large concerns and it depends upon the decision made by the enterprise, it is not compulsory. |
| Grant of Authority | The authority is granted by one individual to another. | It is a systematic act which takes place at all levels and at all functions in a concern. |
| Grant of Responsibility | Responsibility cannot be delegated | Authority with responsibility is delegated to subordinates. |
| Degree | Degree of delegation varies from concern to concern and department to department. | Decentralization is total by nature. It spreads throughout the organization i.e. at all levels and all functions |
| Process | Delegation is a process which explains superior subordinates relationship | It is an outcome which explains relationship between top management and all other departments. |
| Essentiality | Delegation is essential of all kinds of concerns | Decentralization is a decisions function by nature. |
| Significance | Delegation is essential for creating the organization | Decentralization is an optional policy at the discretion of top management. |
| Withdrawal | Delegated authority can be taken back. | It is considered as a general policy of top management and is applicable to all departments. |
| Freedom of Action | Very little freedom to the subordinates | Considerable freedom |
Posted by Raman Jangra 8 years, 4 months ago
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Sia ? 4 years, 6 months ago
| Basis of Difference | Planning | Organising |
| Meaning | Planning is a psychological process of thinking and deciding in advance what it is to be done and how it is to be done. |
Organising refers to the procedure of aligning activities in a certain order. |
| Objective | Its objective is to set goals and choose the means to achieve them. | Its objective is to bring together all resources like people and materials |
| Order | It is the first function of management. | It comes after planning. |
| Targets | The targets are first analysed and then chosen. | Resources are arranged to achieve the target. |
| Nature | It is continuous in nature. | It continues till the time all the resources are collected. |
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Himanshu Singhal 8 years, 4 months ago
Management, unlike other subjects such as economics, philosophy, political science is of a recent origin and hence, a relatively new subject. Being an evolving concept (George 1972), it is still in its developing stage. So far as the meaning of management is concerned, like other socio-economic terms, it has also been defined differently by different authorities.
As a result, there is no single definition on the term but many. We do not have unified views on what management is precisely. The following are a few of the important definitions of the term ‘management’. Mary Parker Follett views, “Management is the art of getting things done through people (Follett 1941).”
According to Henri Fayol (1949) who is considered the father of principles of administrative management, “To manage is to forecast, to plan, to organize, to command, to co-ordinate, and to control.”
In the opinion of Fredrick Winslow Taylor (1947), “Management is knowing exactly what you want men to do and then seeing that they do it in the best and cheapest way.”
According to George R. Terry (1953), “Management is a distinct process consisting of planning, organizing, actuating, and controlling performance to determine and accomplish the objectives by the use of people and resources.”
Peter F. Drucker opines, “Management is a multi-purpose organ that manages business, manages manager and manages workers and work (Drucker 1970).”
Having gone through the above definitions of management, now it can be simply defined as management is getting things done along with others/ subordinates. In other words, it is a process of various functions like planning, organizing, leading, and controlling the business operations in such a manner as to achieve the objectives set by the business firm. It consists of all activities beginning from business planning to its actual survival.
Characteristics of Management:
The salient characteristics of management that flow from above definitions are:
1. Management is a purposeful activity.
2. It is getting things done through and with others in a desired manner.
3. It concerns with the efforts of people working in the enterprise.
4. It relates to decision-making.
5. It is a process consisting of various functions such as planning, organizing, leading, and controlling.
6. Management is both the science and art. It is science because it has developed certain principles and laws. At the same time, it is an art also because it is concerned with the application of knowledge or principles for the solutions of the organizational problems.
7. It is a fast developing profession.
8. It deals with decision and control of business activities.
9. Management as an evolving concept is dynamic in nature which adapts itself to changing business conditions.
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Naveen Sharma 8 years, 3 months ago
Call money is money loaned by a bank that must be repaid on demand. Unlike a term loan, which has a set maturity and payment schedule, call money does not have to follow a fixed schedule.
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