Essentials Of Management

In this tutorial, we will learn about the essentials of management, the process of working with different resources to accomplish organizational goals. Good managers do those things both effectively and efficiently.

Management is a vital function that is concerned with all aspects of the working of an enterprise.

Origin of management is from the Greek word ‘NOMOS.’

It denotes not only functions but also the people who discharge these functions.

DEFINITIONS OF MANAGEMENT:

  • “Management is getting things done through and with people.”   Koontz and O’Donnell
  • “To manage is to forecast and plan, to organize, to command, to coordinate.”     Henri Fayol

Concepts and Essential of Management What is Management? Management is the process of working with different resources to accomplish organizational goals. Good managers do those things both effectively and efficiently. To be useful is to achieve organizational goals. To be efficient is to achieve goals with minimum waste of resources, that is, to make the best possible use of money, time, materials, and people. Some managers fail on both criteria or focus on one at the expense of another. Good managers maintain a clear focus on both effectiveness and efficiency.

  1. The Functions of Management These activities, described below, are the traditional functions of management a. Planning b. Organizing c. Leading d. Controlling
  2. It specifies the goals to be achieved and decides to advance the appropriate actions taken to achieve those goals. Planning activities include: analyzing current situations anticipating the future determining objectives are selecting what types of events the company will engage in choosing corporate and business strategies, and determining the resources needed to achieve the organization’s goals. The outcome of the planning process is the organization’s strategy.
  3. It is assembling and coordinating the human, financial, physical, informational, and other resources needed to achieve goals. It enables people and things to work together to achieve maximum success. The outcome of organizing is an organizational structure.
  4. It is stimulating people to be high performers. It is inspiring, directing motivating, and communicating with employees, individually and in groups. Leading involves close day-to-day contact with people, helping to guide and inspire them toward achieving team and organizational goals. Leading takes place in teams, departments, divisions, and at the tops of the entire organization. The outcome of leading is a high level of motivation and commitment.
  5. Comprehensive plans, reliable organization, and outstanding leaders do not guarantee success. The fourth functional controlling, monitor progress, and implements necessary changes. When managers implement their plans, they often find that things are not working out as planned. The executive function makes sure that goals are accomplished. It asks and answers the question, “Are our actual outcomes consistent with our goals?” It makes adjustments as needed. Specific controlling activities are to set performance standards that indicate progress toward long-term goals to identify performance problems by comparing performance data against the rules to take actions to correct problems.
  6. Budgeting, information systems, cost-cutting, and disciplinary action are just a few of the tools of control. Successful organizations, large and small, pay close attention to how well they are doing. They take fast action when problems arise, and can change as needed. The outcome of controlling is an accurate measurement of performance and regulation of efficiency and effectiveness.
  7. Effectiveness is the degree to which the organization’s output corresponds to the need and wants of the external environment that includes customers’ suppliers’ competitors and regulatory agencies. Effectiveness a measure of the appropriateness of the goals chosen (are these the right goals?) and the degree to which they achieved “Doing the Right Things Right” Effectiveness & Efficiency Productivity = Efficiency x Effectiveness is the ratio of outputs to inputs.
  8. Efficiency: A measure of how well resources are used to achieve a goal, “Doing Things Right.”
  9. The organization’s manager participates in the management process by planning, organizing, leading, or controlling the organization’s resources. Types of Mangers There are three types of mangers 1. Strategic Manager, 2. Tactical Managers 3. Operational Managers Strategic Managers are the senior executives of an organization and are responsible for its overall management. Significant activities include developing the company’s goals and plans. Typically, strategic managers focus on long- term issues and emphasize the organization’s survival, growth, and overall effectiveness.
  10. Tactical Managers are responsible for translating the general goals and plans developed by strategic managers into more specific objectives and activities. These decisions or tactics involve both a shorter time horizon and the coordination of resources. Tactical managers are often called middle managers because, in large organizations, they are located between the strategic and operational managers. Today’s best middle managers have been called “working leaders.” They focus on relationships with other people and on achieving results. They are hands-on working managers. They do not just make decisions, give orders, wait for others to produce, and then evaluate results. They get dirty, do hard work themselves, solve problems, and create value.
  11. Operational Managers are lower-level managers who supervise the operations of the organization. These managers often have titles such as supervisors or sales manager. They are directly involved with non-management employees, implementing the specific plans developed with tactical managers. This role is critical in the organization because operational managers are the link between management and non-management personnel. Your first management position probably will fit into this category.
  12. Managers are Universal Managers who work in all types of organizations, at all levels, and in all functional areas. Large and small businesses, hospitals, schools, and governments benefit from efficient and effective management. The leaders of these organizations may be called executives, administrators, or principals, but they are all managers responsible for the organization’s success or failure. This success or failure is reflected in a manager’s career. For example, when a CEO saves a failing corporation, the board rewards this success with bonuses and stock options.
  13. The Managerial Skills Managers need three basic sets of skills: 1. technical 2. interpersonal 3. conceptual a. Technical Skills The skills that include knowledge of and proficiency in a particular specialized field Managers need to be technically competent. They need to know how to plan, organize lead, and control. Line managers need this skill the most, while the top manager will need a minimum of technical expertise.
  14. Interpersonal Skills/Human Skills Interpersonal skills include the ability to work well with others, both individually and in a group. Managers need excellent interpersonal skills, knowledge about human behaviors and group processes, the ability to understand the feelings, attitudes, and motives of others, and the ability to communicate, clearly and persuasively.
  15. Conceptual skills include the ability to think and to conceptualize about abstract and complex situations, to see the organization as a whole, and to understand the relationships among the various subunits, and to visualize how the organization fits into its broader environment. Conceptual skills include analytical ability, logical thinking, concept formation, and inductive reasoning. They manifest themselves in sound judgment, creativity, and the ability to see the big picture.
  16. Levels of Management three levels in the organization can classify managers, particularly for traditionally structured organizations. 
  17. First-line managers are at the lowest level of management. They’re often called supervisors 
  18. Middle managers include all levels of control between the first and the top levels of the organization. 
  19. Top managers include managers at or near the top of the organization, responsible for making organization-wide decisions, and establishing the plans and goals that affect the entire organization.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.