Posted April 20, 2015on:
The organization and coordination of the activities of a business in order to achieve defined objectives.
Management is often included as a factor of production along with? machines, materials, and money. According to the management guru Peter Drucker (1909-2005), the basic task of management includes both marketing and innovation. Practice of modern management originates from the 16th century study of low-efficiency and failures of certain enterprises, conducted by the English statesman Sir Thomas More (1478-1535). Management consists of the interlocking functions of creating corporate policy and organizing, planning, controlling, and directing an organization’s resources in order to achieve the objectives of that policy.
The directors and managers who have the power and responsibility to make decisions and oversee an enterprise.
The size of management can range from one person in a small organization to hundreds or thousands of managers in multinational companies.
In large organizations, the board of directors defines the policy which is then carried out by the chief executive officer, or CEO. Some people agree that in order to evaluate a company’s current and future worth, the most important factors are the quality and experience of the managers.
DEFINE MANAGEMENT & ITS FUNCTIONS
Management is the process of reaching organizational goals by working with and through people and other organizational resources.
Management has the following 3 characteristics:
It is a process or series of continuing and related activities.
It involves and concentrates on reaching organizational goals.
It reaches these goals by working with and through people and other organizational resources.
The 4 basic management functions that make up the management process are described in the following sections:
PLANNING: Planning involves choosing tasks that must be performed to attain organizational goals, outlining how the tasks must be performed, and indicating when they should be performed.
Planning activity focuses on attaining goals. Managers outline exactly what organizations should do to be successful. Planning is concerned with the success of the organization in the short term as well as in the long term.
Organizing can be thought of as assigning the tasks developed in the planning stages, to various individuals or groups within the organization. Organizing is to create a mechanism to put plans into action.
People within the organization are given work assignments that contribute to the company’s goals. Tasks are organized so that the output of each individual contributes to the success of departments, which, in turn, contributes to the success of divisions, which ultimately contributes to the success of the organization.
Influencing is also referred to as motivating,leading or directing.Influencing can be defined as guiding the activities of organization members in he direction that helps the organization move towards the fulfillment of the goals.
The purpose of influencing is to increase productivity. Human-oriented work situations usually generate higher levels of production over the long term than do task oriented work situations because people find the latter type distasteful.
Controlling is the following roles played by the manager:
Gather information that measures performance
Compare present performance to pre established performance norms.
Determine the next action plan and modifications for meeting the desired performance parameters.
Controlling is an ongoing process.