MANAGER AND MANAGING
1. What is Management?
According to Henri Fayol, management is
"To manage is to forecast and to plan, to organize, to command, to co-ordinate and to
control."
Management is an individual or a group of individuals that accept responsibilities to run an organization.
Management is the organizational process that includes strategic planning, setting; objectives, managing
resources, deploying the human and financial assets needed to achieve objectives, and measuring
results. Management also includes recording and storing facts and information for later use or for others
within the organization. Furthermore it is the process of reaching organizational goals by working with
and through people and other organizational resources. Moreover Management has characteristics like:
1. It is a process or series of continuing and related activities.
2. It involves and concentrates on reaching organizational goals.
3. It reaches these goals by working with and through people and other organizational resources.
2. Why study management
Studying management provides essential skills of a variety of industries. And the reasons why a
person may decide to learn because one of the hardest parts of running a business can be
managing the people. Studying management gives us the skills to deal with people in an
organized and professional manner. There are so many management functions now that in
order to understand the concepts of management in a big firm, we need to study them - it's no
longer something we just 'pick up'. We will also be able to gain the confidence and knowledge to
direct teams successfully.
3. Managerial Functions
There are four basic management functions.
1. Planning
2. Leading
3. Organizing
4. Controlling.
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:
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 companys 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.
LEADING
Leading can be defined as guiding the activities of organization members in the direction that helps the
organization move towards the fulfillment of the goals.
The purpose of leading 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:
Controlling is the following roles played by the manager:
1. Gather information that measures performance
2. Compare present performance to pre-established performance norms.
3. Determine the next action plan and modifications for meeting the desired performance
parameters.
Controlling is an ongoing process.
4. Type of Managers
5. Challenges in Managing in Global Environment
Building competitive advantage:
If your company isnt bringing new ideas to market, your
competitors will. Organizations always have to bringing a unique
good or service to market that your competitors cant easily
replicate.
To behave ethically
To build a truly great, global business, business leaders need to adopt a
global standard of ethical practices. If it is not perceived to be
behaving in a socially responsible manner, company risks its
reputation; risks its customer base as well as risks shareholder
support.
To manage diverse workforce
To utilize new information system and technologies
