”According Stanley Vance, “simply the management is decision making process and control over the action of human beings for the express purpose of attaining pre-determined goals”. The above definition leads us to the following three broad conclusions;
- Management is the process of decision making;
- Management is a process of control over action of human being ; and
- Management goes with the express and pre-determined purpose.
An enterprise may either be of small size or of a big size it undergoes necessary changes with the change in atmosphere, process, circumstances and necessity. No enterprise can remain static for a longer period. People come and go. Unforeseen circumstances necessitate change. But the enterprise has to move on. For keeping the enterprise moving in all favorable as well as adverse circumstances decisions have to be taken. Decisions may either relate to staffing on direction. They may either be for training, supervision, control or for seeking co-operation from the people at work. They may either be for providing leadership or for motivation. Decisions may either be related to communication or for coordinating the efforts. Decisions have to be made in order to keep the wheel of industry, cycle of trade and fortune of enterprise moving in a right direction so that society may be served, profit may be earned and capital may be nursed.
The management itself is a continuing process. The functions discussed above, therefore, may not prove to be complete one. Management undergoes a change with every new problem the industrial and commercial undertakings may come to face. With every new problem the list of management functions would obviously undergo a change. Thus, management functions present a continuing rather accommodating process tacking each and every problem with the attention they would attract from time or time.