Assessment of Performance Measurement in - St Clements University

esources of the organization; namely men, material, money etc. In
business enterprise most organized groups, a prime requirement is
money. There is seldom an organization without some measure of
capital, a requisite for fraternal, social and religious groups as well as for
business organizations. Material includes the physical properties of a
business such as production equipment. The people who are members
of the organization are the third element. These three elements form a
convenient mnemonic device, the three m’s of management, money,
materials and men. Although, an over simplification, this device is an
aid in remembering the coordinative aspect of management.
2. The coordination of the resources of an organization is achieved by
means of the management functions of planning, organizing, directing
and controlling.
3. A definition of management as the coordination of resources through
the utilization of the functions of the management process is not
complete. Management is a process; it is directed toward the
attainment of stated goals or objectives. Without an objective, there is
no goal to reach or no path to follow. The concept of goal as an
objective provides the purposive characteristics of management.
Based on the above explanation, Sisk (1973) therefore, defined
management as the coordination of all resources through the process of
planning, organizing, directing and controlling in order to attain stated
objectives.
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