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What Is Management?

This document defines management and discusses various management styles, techniques, organizational structures, and roles within a typical company management structure. It explains that management involves organizing people, tasks, and resources to achieve goals. There are different management styles such as dictatorial, bureaucratic, consultative, and delegating. Organizational structures include line, functional, matrix, and staff structures. A typical company structure has a board of directors that sets policy, a managing director for day-to-day operations, senior managers leading departments, middle managers leading teams, and individual contributors.

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46 views3 pages

What Is Management?

This document defines management and discusses various management styles, techniques, organizational structures, and roles within a typical company management structure. It explains that management involves organizing people, tasks, and resources to achieve goals. There are different management styles such as dictatorial, bureaucratic, consultative, and delegating. Organizational structures include line, functional, matrix, and staff structures. A typical company structure has a board of directors that sets policy, a managing director for day-to-day operations, senior managers leading departments, middle managers leading teams, and individual contributors.

Uploaded by

Fanni
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Management

What is management?
- Complex, there are various definitions
- Organizing people, planning, communicating tasks to employees
- Keeping people motivated is important
- Measuring performance, evaluating achievements
Functions of Business Management
- Deals with all operations of organizations
- Managing human, financial and physical resources
Management style
- Shows how managers behave, how they communicate, etc.
- It will differ
- Dictatorial: they prefer giving commands; not interested in others’ ideas, etc.
- Bureaucratic: lots of paperwork and emails, zero flexibility, exact order is important
- Consultative: maybe the most effective – BUT: manager should have the last word
- Delegating: sets the tasks but let employees perform them
- Laissez-faire: not effective and supporting, “let it be”
- Abdicatorial: avoids all kinds of responsibility
Management techniques
- Good communication → build loyalty, work for some goals
- Delegation of work and responsibility
Organigram
- The organizational structure of a company
- 3 types:
o Corporate pyramid:
 Everything is well-defined
 Less people at the top
o Networked organization
 Everyone is connected, share tasks and knowledge
o Mixture

Organizational structures
- Line:
o Clear line: the chain of command
o Small companies
- Functional:
o Each employee reports to one supervisor
o Groups / departments (marketing, sales, finance…)
o Hard to do projects
o Speed of communication is faster
o Lack of flexibility
- Matrix
o The employees report to more than one supervisor
o More groups work together
o Easier to organize projects
- Staff
o Good for big companies
o Guidelines for employees
o E.g. assistants
o No decisions to make
o Specified functional help to the managers
- Sometimes it is necessary to restructure a company + reorganize it
o In the case of a problem, a merger, a takeover or an acquisition

The management structure of a typical company


- Board of Directors: CEO, CFO, CMO
- Senior managers
- Middle management
- Teams / groups
- Individuals
Board of Directors
- Appointed by the shareholders at the AGM
- Makes policy decisions
- There are chairs and board members in the Board
o Chair
o Vice-chair: works with the chair, substitutes the chair
o Committee chair
o Board secretary
o Board treasurer
o Board members keep informed about the business
o Planning + evaluating
o Attending meetings
o Secretary
o Treasurer: finances, annual budget (approved by the Board)
- Directions the company should take
- Making sure the company has enough funds
- Appoint key staff
- Decides on the organizational structure
AGM
- Shareholders get the overall picture of the company’s current situation + they appoint
members of the Board of Directors
Managing Director
- Day-to-day running of the business
- Responsible for carrying out all the decisions
Senior management
- Regularly meets the Managing Director
- Responsible for their own department
Departments
- Production
- Finance and accounts
- Legal
- Marketing & PR
- Research & Development
- IT
- Human Resources
- Sales
- QAQC: Quality Assurance and Quality Control
- Purchasing
Middle Management
- Team leaders
- Allocate tasks between the team members
Mission Statement
- Küldetésnyilatkozat
- Every company should have one
- Present and future
- Founders determine its content
- Objectives, aim

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