Management is both art and science. May it be selling or buying, market or customer, man or machine, money or material, products or services, process or operations etc. it is the art of making these more effective. The science is in how you do that.
The science of management makes you to learn this iterative process. When something is out of sync, you need to fix a plan, organize the resources to make it work, control the people who will make it happen, and continue to monitor the effect of the change, as desired.
Career in Management:
From research & development to manufacturing to service, all sectors of business and industry are open to employ you as a manager. Rapid expansion of industries in India has opened new vistas for excellent opportunities of careers in management. New Economic Policy of liberalization and decontrols has increased the demand for managerial personnel in the corporate sector. Advent of multinational companies is further intensifying the quest of the industrial sector in all fields of management like finance, production, marketing, personnel and administration.
Areas in Management Services:
Marketing, Finance, HR, Information Technology, International Business and Rural Development are six major areas in management with each having several sub-branches. Marketing Management includes sales, purchase, international marketing (export - import), advertising, marketing strategy, material management, consumers' behavior, development and research. Financial management includes all the aspects of finance, investments, financing and portfolio management, project management, working capital management, international financial management, etc. Production management takes care of production methodology, costing, operations and quality control etc. HR deals with complicated aspect i.e. managing people recruitment, training, management-union relations, labour and personnel policies, organization behavioral management.