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Management is the manner of handling an institution- be it a firm, or farm or an industry or a family. Family Resource management cuts across different areas of living. This was earlier called as home Management. The home management term was first introduced by Maria parloa in 1880 which simply meant any thing that need to be accomplished with in the household. It included all household activities like ironing, cleaning, planning a party/ function, social behavior and so forth. Since Management relates to the resources, home management changed its nomenclature to family resource management. In simple words management means ‘using what you have to get what you want’.
Management is an important component of family living. Home management consists of purposeful behavior of all family members leading to the creation and use of resources to realize the goals of family members. All modern management techniques are needed for efficient and economic handling of family resources. Family has greater dimensions as it relates to people living together with affinity, affection and mutual understanding. This necessitates identification and understanding of interpersonal relationships of all age groups within the family first and with the community at large.
The Home maker is the central point of any family and its activities. All family activities revolve around her. Hence effective management depends on the managerial abilities, interest, and leadership qualities of the home maker and also her ability to motivate the family members in the right direction of achieving the desired goals.
All management activities of the family are directed towards achievement of family goals, which ultimately leads to maximum satisfaction of the family members. For this the family members use the resources available with them and work towards creation of needed resources for achievement of family goals. These resources include time, energy, money along with the internal human resources like knowledge, skill, abilities etc.
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