Management is a set of principles which include four major functions like planning, organizing, directing and controlling of activities and resources. There are various styles of management and there is no one style that is best and would guarantee success or deliver results. Rather a suitable management style depends on the below factors and situations –
1. Management and its purview is highly subjective and it is not a set of fixed activities that are carried as a part of daily routine.
2. Management’s scope depends on various factors like functional area, individuals who need to be controlled, their skillsets, type of business the firm is in etc.
3. It is highly situation-based and manager needs to be flexible to handle different situations in a different manner.
4. No management style is perfect and every style has its own advantages and disadvantages.
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