Management principles are general rather than specific to a type of firm or organization.However, management is universal only if the manager has become familiar with thespecific situation in which it is applied. Production technology, customer characteristicsand the culture of the industry are examples of specifics that managers need to learn to beeffective in applying their generic management skills.In other terms we can say that management is creative problem solving. This creative problem solving is accomplished through five functions of management;
- the on going process of developing the business mission and objectivesand determining how they will be accomplished. Planning include both the broadest view of the organization.
– is establishing the organizational structure of the organization. Thefocus is on division, coordination, and control of tasks and the flow of information within the organization. It is in this function that managers distributeauthority to job holders.
filling and keeping filled with qualified people all positions in the business. Recruiting, hiring, training, evaluating and compensating are thespecific activities included in the function. In the family business, staffingincluded all paid and unpaid positions held by family members include the owner and operators.
influencing people’s behaviors through motivation, communication,group dynamic, leadership, discipline. The purpose of leading is to channel the3