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MANAGEMENT: A Key to Achieve Success

MANAGEMENT: A Key to Achieve Success

Management is a process to achieve organizational goals for a business, non-profit organization or a government body. They are a set of functions designed to achieve the desired objective, with the available resources which includes human resource, financial resource, technological resource etc. Management may also refer to people a group of people who work together for a similar objective.

According to Koontz and Weihrich it is defined as “the process of designing and maintaining an environment in which individuals, working together in groups effectively accomplish selected aims.”

 

Main features of management:

  • Management is an ongoing process and is continuously needed to solve the problem of an organization.
  • Management is both art and science. It uses scientific methods, has cause and effect relationship, is universally applicable and also it uses creative approach to reach its goals, thus forms apart of both art and science.
  • Management is effected with both the internal and external factors. Internal factors like employees, method of work indicate the strength and weakness whereas external factors like political, legal and technological factors etc indicate the opportunities and threats.
  • Management is a goal oriented process. It works for the attainment of goals effectively and efficiently.
  • Management is applied to all kinds of organisation. It is applied at all levels of an organisation to carry out all managerial functions.

Functions of management:

Management functions are a set off activities that a manager should perform in order to achieve the pre-determined goals. It comprises of the following main functions-

 

  • Planning– it means plans for the future, deciding what, how, when, and by whom is to be done in order to achieve the goals.
  • Organizing– it means establishing mutual relations and co-ordination between men, machine, and materials to achieve desired objectives at minimum cost.
  • Staffing– it involves estimating required staff. Selection, appointment and training of staff.
  • Directing– it involves the leadership function to influence the sub-ordinates to work towards the desired goals.
  • Controlling– it involves comparing actual performance with pre-determined goals. It involves taking corrective actions and making improved process for the future.

 

Essential skills of a manager:

  • Technical skills
  • Socio-political skills
  • Decision making skills
  • Conceptual skills

        Levels of management:

Every organization has three levels of management-

  • Top level management- it refers to board of directors and chief executives whose function is to define the goals, direct the lower levels and make policies and sanction plans and budgets.
  • Middle level management- it refers to the various heads of the department such as production manager, HR manager etc. Their function is to set goals for the lower level management, link top and supervisory levels of management, motivate and appraise performance of lower level management.
  • Lower level management- it includes foreman, supervisor etc. Their function is to assign tasks and jobs to subordinates, arrange machinery and tools and supervise the workers.

 

Functional areas of management:

Following are the main functional areas of management-

 

 

  • Production management
  • Materials management
  • Financial management
  • Human resource management
  • Office management

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