What is Management?
A set of activities (planning and decision making, organizing, leading, and controlling) directed at an organization’s resources (human, financial, physical, and information) with the aim of achieving
organizational goals in an efficient and effective
manner.
Basic Purpose of Management
EFFICIENTLY
Using resources wisely and
in a cost-effective way EFFECTIVELY
Making the right decisions and
successfully implementing them
Management?
Management is a universal phenomenon. Some people think ‘management’
- as a complex of personal & administrative skills
- as a technique of leadership
- as a mean of co-ordination and co-operation
‘Manage-men-t’ itself consists the meaning in its very spelling i.e. Manage men with T (T means tactfully). To be tactful one- must have adequate knowledge, skill, experience and exchange of ideas. The more tactful you are, the more successful a manager you are expected to be.
Management?
Ricky W. Griffin-
“Management is the process of planning, organizing, leading and controlling an organization’s human, financial, physical and information resources to achieve organizational goals in an efficient & effective manner.”
Stanley Vance-
“Management is simply the process of decision making and control over the action of human beings for the expressed purpose of attaining
predetermined goals”.
(Source: Industrial Administration’ McGraw Hill Book Co. Inc. New York, 1959; p-3)
Management?
The word ‘Management’ as a noun derived from the verb ‘to manage’.
Now let us see what may be meant by ‘to manage’:-
‘to manage’ may meant ‘to handle’
‘to manage’ may meant ‘to control’
‘to manage’ may meant ‘to organize’
‘to manage’ may meant ‘to make and keep submissive’
‘to manage’ may meant ‘to carry out for purpose’.
Why Is Management Important?
All organizations rely upon group efforts to achieve goals. And whenever two or more people are required to work together, management is
necessary. According to the U.S. Bureau of Labor Statistics, management positions are projected to continue to grow by an average of 7% percent.
If that is not enough reason to become a believer in management, maybe the reasons below will:
Accomplish goals
Be more efficient
Make better decisions
Earn more profit
Functions of Management
Different experts have classified functions of management. According to George & Jerry,
“There are four fundamental functions of management i.e. planning, organizing, actuating and controlling”. According to Henry Fayol, “To manage is to forecast and plan, to organize, to command, & to control”.
Whereas Luther Gullick has given a keyword ’POSDCORB’ where P stands for Planning, O for Organizing, S for Staffing, D for Directing, Co for Co-
ordination, R for reporting & B for Budgeting. But the most widely accepted are functions of management given by KOONTZ and O’DONNEL i.e.
Planning, Organizing, Staffing, Directing and Controlling.
Functions of Management
For theoretical purposes, it may be convenient to separate the function of management but practically these functions are
overlapping in nature i.e. they are highly inseparable. Each function blends into the other & each
affects the performance of others.
Management Process
Management Process
The Management Process
• Planning
– Includes defining goals, establishing strategy, and developing plans to coordinate activities
• Organizing
– Includes determining what tasks to be done, who is to do them, how the tasks are to be grouped, who reports to whom, and where decisions are to be mad
Management Process
Leading
– Includes motivating employees, directing the activities of others, selecting the most effective communication channel, and resolving conflicts
• Controlling
– The process of monitoring performance, comparing it with goals, and correcting any significant deviations
What is a Manager?
• Someone whose primary responsibility is to carry out the management process.
• Someone who plans and makes decisions, organizes, leads, and controls human, financial, physical, and information
resources.
C.S. George Says-‘
a manager is who accomplishes objectives by directing the
efforts of others.
Kinds of Managers by Level
and Area
Kinds of Managers by Level
and Area
Kinds of Managers by Level
• Top Managers
– The relatively small group of executives who manage the organization’s overall goals, strategy, and operating policies.
• Middle Managers
Largest group of managers in organizations
Implement top management’s policies and plans.
Supervise and coordinate lower-level managers’ activities.
• First-Line Managers
– Managers who supervise and coordinate the activities of operating employees.
Kinds of Managers by Area
Marketing Managers
– Work in areas related to getting consumers and clients to buy the organization’s products or services.
Financial Managers
– Deal primarily with an organization’s financial resources.
Operations Managers
– Concerned with creating and managing the systems that create organization’s products and services.
Kinds of Managers by Area
Human Resource Managers
Involved in human resource processes
Planning, recruiting and selection, training and development, designing compensation and benefit systems, formulating performance appraisal systems.
Administrative Managers
– Serve as generalists in functional areas and are not associated with any particular management specialty.
Other Kinds of Managers
– Assigned as specialists in positions directly
Functions of Managers
Managers just don’t go out and haphazardly perform their
responsibilities. Good managers discover how to master five basic functions: planning, organizing, staffing, leading, and controlling.
Planning: This step involves mapping out exactly how to achieve a particular goal. Say, for example, that the organization’s goal is to improve company sales. The manager first needs to decide which steps are necessary to accomplish that goal.
Functions of Managers
Organizing: After a plan is in place, a manager needs to organize her team and materials according to her plan. Assigning work and granting authority are two important elements of organizing.
Staffing: After a manager discerns his area’s needs, he may decide to beef up his staffing by recruiting, selecting, training, and developing employees. A manager in a large organization often works with the company’s human
resources department to accomplish this goal.
Functions of Managers
Leading: A manager needs to do more than just plan, organize, and staff her team to achieve a goal. He must also lead. Leading involves motivating, communicating, guiding, and encouraging. It requires the manager to coach, assist, and problem solve with employees.
Controlling: After the other elements are in place, a manager’s job is not finished. He needs to continuously check results against goals and take any corrective actions necessary to make sure that his area’s plans remain on track.
Skill of a manager
Management skills…..
Skills………….
Fundamental Management skill
Technical Skills
Interpersonal Skills
Conceptual Skills
Diagnostic Skills
Communication Skills
Decision-Making Skills
Time-Management Skills
Fundamental Management skill
Technical
– Skills necessary to accomplish or understand the specific kind of work being done in an organization.
• Interpersonal
– The ability to communicate with, understand, and motivate both individuals and groups.
Conceptual
– The manager’s ability to think in the abstract.
Fundamental Management skill
Diagnostic
– The manager’s ability to visualize the most appropriate response to a situation.
Communication
– The manager’s abilities both to convey ideas and information effectively to others and to receive ideas and information effectively from others.
Decision-Making
– The manager’s ability to recognize and define problems and opportunities correctly and then to select an appropriate course of action to solve the problems and capitalize on opportunities.
Time-Management
– The manager’s ability to prioritize work to accomplish the work on time.
