MANAGEMENT

SUBMITTED BY: NAME: AROOJ

FATIMA ROLL NO: 21:F1:136 SEMESTER :
4th SESSEION: ADP (IT)

SUBMITTED TO SIR H
What Is a manager?
Managers play a hugely important role in the workplace. They oversee projects, ensure that
businesses are working effectively and are responsible for ensuring that the right teams are in
place. They will likely have significant responsibility for fiscal policies and general
operations; they will also need to motivate individuals to work to the best of their ability. It
comes as no surprise that managers need to have a wide range of skills to be successful.

What Key Skills Should a Manager Have to Fulfill Their

Duties in Management:
To be successful, managers in management need to have a wide range of skills.
They will have likely begun their career in entry-level positions and worked their way up the
career ladder. This means that they will typically have frontline experience of working on the
'shop floor' but will also have gained wider experience and capabilities through additional
training and academic qualifications.
Here are some of the essential skills that great managers need to have:

Communication.
What sets a great manager apart from a good manager is their ability
to communicate effectively with their staff. A manager must be able to clearly explain their
corporate vision whether it is an ambitious growth plan led by top-level managers or a
specific job task explained to junior staff. Knowing how to talk to people can play an
important role in maintaining motivation and improving a co-worker's performance.

Critical thinking.
Managers need to listen to what is being said and, more importantly, understand what is not
being said. They need to have the analytical and critical thinking skills to think beyond the
initial problem or situation and establish ways to overcome the issue. As managers work their
way up, this becomes a more conceptual skill. They need to understand the wider
implications of their decisions, which may have long-lasting consequences for the business.

Decision making
Managers are responsible for all of the decision-making in the business, from choosing which
staff member will do which task to recruitment plans and spotting expansion opportunities.
Whether you are a line manager, team leader or a C-suite executive, your days will be spent
making decisions that may have lasting effects on a business.

Delegation.
One of the hardest skills for any manager is learning how to delegate. It may be tempting to
simply do it all yourself, but success will rely on delegating tasks or even decisions to other
people, while not micromanaging.
Financial acumen.
As you progress in your managerial career, you will likely take on more fiscal responsibility.
The manager's role will include responsibility for budgets, from small projects through to
large departments. You must understand cash flow and provide business cases for investment
in new opportunities. Much of your time will be spent evaluating return on investments and
understanding how to make money.

Leadership.
Managers need to be inspired. They need to be able to lead effectively, through calm,
collected choices and encourage people to want to work for them. Great managers are those
who can lead others to work to the best of their ability and work as part of a team.

Project management.
You get a higher-level managerial position, you will need to have demonstrable proof of how
you can take a project to completion from start to finish. You will need to show you can put
the right teams in place, trust them to do the work you delegate and that you also know when
to get involved to provide help and support.

Technical proficiency. This is an often overlooked managerial skill, but you need to
have a deep knowledge of your profession. You cannot manage a team of investment
bankers if you do not have the vaguest idea of what investment banking requires. If you have
worked your way up from the bottom, you should understand what your business does, but if
you are new to a company, you need to show your knowledge. For example, a pharmaceutical
manager would need to have a scientific background to fully understand the business.

Roles of managers in
importance of management:
Having managerial skills is good but they also
need to be put into practice. Here are some of the
wide varieties of tasks and responsibilities a
manager may be expected to perform in their job
role:

Ensuring smooth operations.

As a manager, you take full responsibility for ensuring that the day-to-day operations of the
business are functioning effectively within your remit. You will be responsible for budgets,
financial responsibilities and ensuring that your cash flow remains positive. This may include
writing a business case for any investment into new products, services or technologies that
can be used to help you grow your business.

Collaborating with HR.

Working closely with your HR team to help identify recruitment needs and training
opportunities is important in a managerial role. You will be involved in staffing issues, from
hiring to training, and setting KPIs (Key Performance Indicators) and achievable targets. You
could also be heavily involved in the career development of your staff, helping them develop
new skills and progress their abilities with the goal of improving your teams.

Goal setting.
To facilitate business growth, you will have to set a wide range of short-term and long-
term goals that will keep you motivated and on-track. Establish what is achievable for your
team’s existing capabilities and then, in conjunction with training, push beyond with realistic
ambitions. You will have to write strategic reports outlining your achievements and showing
an understanding of your strengths and weaknesses.

Communicating with others.

Great managers cannot work in silos, keeping their cards close to their chest and not sharing
information with others working towards a common goal. The role of the manager is to be an
effective team player, leading by example. They need to show that they can motivate and
inspire, while also recognizing achievements from individuals and rewarding them
accordingly. They need to collaborate and work closely with their specific teams as well as
communicating upwards along the managerial chain. Taking responsibility for clear
communication, managers ensure everyone is working towards the same goal regardless of
their levels of seniority and expertise.

Interpersonal Roles
The roles under here include Figurehead, leader, and liaison. Under this role, a manager can
act as a figurehead to receive guests, preside over social functions, and sign documents.
When functioning as a leader, he manages to sort out issues with subordinates. He motivates,
encourages, and disciplines the followers. The last function that a manager performs under
the interpersonal role is liaison. He maintains a cordial relationship with external bodies and
companies.

Informational Roles
This role deals with information. They work as a monitor, a disseminator, and a
spokesperson. The monitor role explores and gathers information that is useful to the
development of the organization. As a disseminator, the manager delivers and passes the
acquired information across departments where needed. Also, as a spokesperson, the manager
transmits information to outsiders. This information includes policies, plans, and
achievements.

Decisional Roles
The last role is the decisional role. These roles have to do with decision-making. The roles
under this include entrepreneurial roles, disturbance handler, resources allocator, and
negotiator. The role of the entrepreneur involves overseeing the performance of the company.
The manager also allocates resources to the necessary quarters. He can also negotiate on
behalf of the company.

Management Importance in light of managers:

Management is important because it provides direction and
guidance to the organization, ensures that resources are
used effectively and efficiently, motivates employees, and
ensures that the organization achieves its goals. Managers
play a critical role in these activities, and their duties are
essential to the success of the organization. A manager
helps a business function as effectively as it should and, as
a result, managers need to have a distinct skill set beyond
the technical proficiencies of a particular profession. Not
everyone is suited to management; more of your time will
be spent away from what you are trained to do and you will spend much more time focusing
on administrative tasks. However, it is a role where you can take greater responsibility and
directly impact your business success as well as one with attractive pay and benefit
opportunities.

Characteristics of Management
Multi-dimensional
Most managements oversee and control a business or organization’s service or production
process. Managers collaborate closely with their co-workers and offer direction. A manager
views each employee as both a unique individual with unique requirements and as a
participant of the bigger team. Managers must persuade their teams to use each member's
special abilities to advance the objectives of the company to be effective.

Dynamic
No matter the economic, socio-political, or technical developments in its surroundings,
management is a dynamic role that constantly changes and evolves. For instance, the quick
adoption of monitors and electronic gadgets may decrease revenue for a printing firm.
Whether the business can continue to exist depends on how well its management can adjust
to changing market demands.

Intangible
Although management does not represent a material good, its existence may alter how an
organization runs. Belief systems, rules, and social interaction make up management. Target
success rates, staff satisfaction levels, and general operational comfort all benefit from
effective management.

Objectives of Management
Generally, management might have three different sorts of objectives:
Organizational Objectives
All parties involved in the business, such as the authorities, consumers, and employees,
should have their interests taken into account by the management. For the company,
managers oversee creating and accomplishing goals. An organization’s main goal is often to
expand by making the most of its people, material, and financial capacity. There are three
universal organizational goals for any business:

Survival
A business must make enough money to meet its operating expenses.

Profit
Profit serves as motivation and is necessary to pay for the unforeseen expenses and risks
involved in operating a firm.

Growth
Sales volume, employee count, and capital expenditure increase may be used to gauge a
company's development.

Functions of management