Basic management concepts

[Iqthrill]

Basic Management Concept - Introduction

these slides are very helpful in understanding the basic concept of management.

[Iqthrill]

Any organization, whether new or old, whether small or big need to run smoothly and achieve the goals and objectives which it has set forth. For this they had developed and implemented their own management concepts. There are basically four management concepts that allow any organization to handle the tactical, planned and set decisions. The four basic functions of the management are just to have a controlled plan over the preventive measure.

The four functions of management are:

The base function is to: Plan
It is the foundation area of management. It is the base upon which the all the areas of management should be built. Planning requires administration to assess; where the company is presently set, and where it would be in the upcoming. From there an appropriate course of action is determined and implemented to attain the company’s goals and objectives

Planning is unending course of action. There may be sudden strategies where companies have to face. Sometimes they are uncontrollable. You can say that they are external factors that constantly affect a company both optimistically and pessimistically. Depending on the conditions, a company may have to alter its course of action in accomplishing certain goals. This kind of preparation, arrangement is known as strategic planning. In strategic planning, management analyzes inside and outside factors that may affect the company and so objectives and goals. Here they should have a study of strengths and weaknesses, opportunities and threats. For management to do this efficiently, it has to be very practical and ample.

The subsequent function is to: Organize
The second function of the management is getting prepared, getting organized. Management must organize all its resources well before in hand to put into practice the course of action to decide that has been planned in the base function. Through this process, management will now determine the inside directorial configuration; establish and maintain relationships, and also assign required resources.

While determining the inside directorial configuration, management ought to look at the different divisions or departments. They also see to the harmonization of staff, and try to find out the best way to handle the important tasks and expenditure of information within the company. Management determines the division of work according to its need. It also has to decide for suitable departments to hand over authority and responsibilities.

The third function is to: Direct
Directing is the third function of the management. Working under this function helps the management to control and supervise the actions of the staff. This helps them to assist the staff in achieving the company’s goals and also accomplishing their personal or career goals which can be powered by motivation, communication, department dynamics, and department leadership.

Employees those which are highly provoked generally surpass in their job performance and also play important role in achieving the company’s goal. And here lies the reason why managers focus on motivating their employees. They come about with prize and incentive programs based on job performance and geared in the direction of the employees requirements.

It is very important to maintain a productive working environment, building positive interpersonal relationships, and problem solving. And this can be done only with Effective communication. Understanding the communication process and working on area that need improvement, help managers to become more effective communicators. The finest technique of finding the areas that requires improvement is to ask themselves and others at regular intervals, how well they are doing. This leads to better relationship and helps the managers for better directing plans.

The final function is to: Control
Control, the last of four functions of management, includes establishing performance standards which are of course based on the company’s objectives. It also involves evaluating and reporting of actual job performance. When these points are studied by the management then it is necessary to compare both the things. This study on comparision of both decides further corrective and preventive actions.

In an effort of solving performance problems, management should higher standards. They should straightforwardly speak to the employee or department having problem. On the contrary, if there are inadequate resources or disallow other external factors standards from being attained, management had to lower their standards as per requirement. The controlling processes as in comparison with other three, is unending process or say continuous process. With this management can make out any probable problems. It helps them in taking necessary preventive measures against the consequences. Management can also recognize any further developing problems that need corrective actions.

Effective and efficient management leads to success, the success where it attains the objectives and goals of the organizations. Of course for achieving the ultimate goal and aim management need to work creatively in problem solving in all the four functions. Management not only has to see the needs of accomplishing the goals but also has to look in to the process that their way is feasible for the company.

[Iqthrill]

Management is a Process of carrying POLCA functions to achieve organizational Goals

Good Mangers
Perform these functions with Efficiency and Effectiveness
Efficiency:-
Getting the most output from the least amount of input
Effectiveness:-
Completing activities so that organizational goals are attained

People/Manager achieve goals by using management Process (POLCA)
Management Functions:-
1) Planning 2) Organizing 3) Leading 4) Controlling 5) Assurance

Planning:-
The process of setting goals and deciding how best to achieve them
Organizing:-
The process of allocating human and non-human resources so that plans can be carried out successfully
Leading:-
The process of influencing others to engage in the work behaviors necessary to reach organizational goals
Controlling:-
The process of regulating organizational activities so that actual performance conforms to expected organizational standards and goals.
Assurance:-
Assurance /Quality assurance refers to planned and systematic production processes that provideconfidence in a product's suitability for its intended purpose. Refer to the definition. It is a set of activities intended to ensure that products (goods and/or services) satisfy customer requirements in a systematic, reliable fashion. QA cannot absolutely guarantee the production of quality products,unfortunately, but makes this more likely

Management:-
Henri Fayol: -
(POLCA) Roles by Henri Fayol
Peter Drucker:-
(Efficiency & Effectiveness) Roles by Peter Druker
Edward Deming:-
Quality Roles by Edward Deming
Henry Mintzberg:-
Roles of Management by Henry Mintzberg
Characteristics of Entrepreneurs

Key Personal Attributes + Technical Proficiency + Managerial Competencies = Successful Entrepreneurs
Business Plan?
Questions:
Should I start a business?
What and where is the market for my product or service?
How much will it cost to own the business, where will I get money?
Can I get help from relatives or friends?
Should my company be domestic or global?
Key Management Skills!
Technical Skills
Human Skills
Conceptual Skills

Technical Skills: -
Knowledge of and proficiency in a certain specialized field

Human Skills: -
Ability to work well with other people both individually and in a group

Conceptual Skills: -
Ability to think and do conceptualize about abstract and complex situations see organization as a whole understand the relationships among subunits visualize, how the organization fits into its boarder environment.
Kinds of Managers (Managerial Titles)
Top Managers
Middle Managers
First-Line Managers

First-Line Managers: -
Manage the work of non-managerial individuals who are directly involved with the production or creation of the organization’s products.

Middle Managers: -
All managers between the First-Line level and the top level of the organization manage the First-Line managers.

Top Managers: -
Responsible for making organization-wide decisions and establishing the plans and goals that affect the entire organization

Management Today & Yesterday
Management
Economics
Sociology
Psychology
Political Science
Math and Stats
Management Theories
Pre-Classical Contributors
Classical Viewpoint
Scientific Management
Administrative Management
Bureaucratic Management
Behavior Viewpoint
Early Behaviorists
Hawthome Studies
Human Relation Movement
Behavioral Science Approach
Quantitative Viewpoint
Operation Research
Operation Management
Management Information Science
Contemporary Viewpoint
System Theory
Contingency Theory
Emerging Views
Pre – Classical
Adam Smith(1776)