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Management is the process of combining and coordinating a range of resources, either in the form of money, people or equipment, to achieve an organisation s goals.
2. Explain important functions of management.
A definition:(1) Management is creative problem solving. This creative problem solving is accomplished through four functions of management: planning, organizing, leading and controlling. The intended result is the use of an organization's resources in a way that accomplishes its mission and objectives. (Figure 1.1, From Higgins, page 7) In Management Excel, this standard definition is modified to align more closely with our teaching objectives and to communicate more clearly the content of the organizing function. Organizing is divided into organizing and staffing so that the importance of staffing in small businesses receives emphasis along side organizing. In the management literature, directing and leading are used interchangeably. (Note figure of Management Excel wheel) Planning is the ongoing process of developing the business' mission and objectives and determining how they will be accomplished. Planning includes both the broadest view of the organization, e.g., its mission, and the narrowest, e.g., a tactic for accomplishing a specific goal. Organizing is establishing the internal organizational structure of the organization. The focus is on division, coordination, and control of tasks and the flow of information within the organization. It is in this function that managers distribute authority to job holders. Staffing is filling and keeping filled with qualified people all positions in the business. Recruiting, hiring, training, evaluating and compensating are the specific activities included in the function. In the family business, staffing includes all paid and unpaid positions held by family members including the owner/operators. Directing is influencing people's behavior through motivation, communication, group dynamics, leadership and discipline. The purpose of directing is to channel the behavior of all personnel to accomplish the organization's mission and objectives while simultaneously helping them accomplish their own career objectives. Controlling is a four-step process of establishing performance standards based on the firm's objectives, measuring and reporting actual performance, comparing the two, and taking corrective or preventive action as necessary.
and decides what work needs to be done to meet those goals. 1) Sets objectives. Top Management . promotion. Middle level Management . and through his communications with the team. and analyzes. The top level management generally performs planning and co. Authority mainly lies with this level of management. It also maintains links with society at large. 4) Measures. What does a manager do. appraises and interprets performance. Board of Directors all belong to this category.ordination function. In a knowledge economy. 2) Organizes. and it is up to the manager to develop that asset. 5) Develops people. Drucker s basic description of the manager s job still holds. 2. through decisions on pay. It implements the organizational goals and plans according to the directions of the top management.3. Also the middle level has to communicate significant data and reports from lower level to the top level . While other management experts may use different words and focus on different aspects of these responsibilities.The departmental heads and the branch heads belong to this category of management. 3) Motivates and communicates. The middle level managers are also appointed by the top level management.The General Manager. Mr. The manager establishes appropriate targets and yardsticks. There are three levels of management basically : 1. Chief Executive. With the rise of the knowledge worker. Drucker also referred to this as the integrating function of the manager. 4. what are the different levels of management. this task has taken on added importance. The middle level management generally performs organizing and directing functions. people are the company s most important asset. The manager sets goals for the group. The Middle level management is answerable to the top level management for functioning of their departments. It is also answerable to the shareholders for functioning of the organization. They act as mediator between top and lower level management by clarifying and explaining policies from top to lower level. The manager creates a team out of his people. It lays down the broad policies and goals of the organization. The manager divides the work into manageable activities. placement. Managing Director. and selects people to accomplish the tasks that need to be done.
Management: It puts into action the policies and plans laid down by the administration. educational. This level of management generally performs directing and controlling functions. Type of function Administration:It is a determinative function. supervisors . Management: It is used in business enterprises. Management: It is an executive function. all belong to this category of management.superintendents . They generally have to personally oversee and direct the lower level employees. It also boosts the lower level managers for better performance. Management: It is a group of managerial personnel who use their specialized knowledge to fulfill the objectives of an enterprise. distinguish between management and administration. Management: It takes decisions within the framework set by the administration. Nature of usage Administration:It is popular with government. They train and boost up the workers. 5. military. 3. Level of authority Administration:It is a top-level activity. Scope Administration:It takes major decisions of an enterprise as a whole. Nature of status Administration:It consists of owners who invest capital in and receive profits from an enterprise. Management: It is a middle level activity. . It even has to train the low level managers. Lower level Management . Nature of work Administration: It is concerned about the determination of objectives and major policies of an organization. and religious organizations.etc. They look after the problems and grievances of the workers and try to solve them.The foremen.management.
Keeping this in view. there may just be a decision not to decide. What are the features of decision making? · It is a process of choosing a course of action from among the alternative courses of action. Abilities Administration:It needs administrative rather than technical abilities. It always has a purpose. Management: It requires technical activities Management handles the employers. social. opinions. It involves all actions like defining the problem and probing and analyzing the various alternatives. and beliefs of the managers. Administration handles the buisness aspects such as finance. · · · · · · . Management: Its decisions are influenced by the values. and religious factors. It involves a time dimension and a time lag. It is always related to the environment.Decision making Administration:Its decisions are influenced by public opinion. It is the end process preceded by deliberation and reasoning. Management: Motivating and controlling functions are involved in it. which take place before a final choice is made. It is a human process involving to a great extent the application of intellectual abilities. Main functions Administration:Planning and organizing functions are involved in it. A manager may take one decision in a particular set of circumstances and another in a different set of circumstances. government policies.
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