Definition of Management
The
process of dealing with or controlling things or people.
OR
Management defined as all the activities and tasks undertaken for archiving goals by continuous activities like; planning, organizing, leading and controlling.
OR
Management is a
process of planning, decision making, organizing, leading, motivation and
controlling the human resources, financial, physical, and information resources
of an organization to reach its goals efficiently and effectively.
Management Functions:
- Organizing
- Directing
or leading
- Planning
- Staffing
- Controlling
an organization
Planning: It is the first and foremost function
of management, i.e. to decide beforehand what is to be done in future. It
encompasses formulating policies, establishing targets, scheduling actions and
so forth.
Organizing: Once the plans are formulated, the
next step is to organise the activities and resources, as in identifying the
tasks, classifying them, assigning duties to subordinates and allocating the
resources.
Staffing: It involves hiring personnel for
carrying out various activities of the organization. It is to ensure that the
right person is appointed to the right job.
Directing: It is the task of the manager to
guide, supervise, lead and motivate the subordinates, to ensure that they work
in the right direction, so far as the objectives of the organization are
concerned.
Controlling: The controlling
function of management involves a number of steps to be taken to make sure that
the performance of the employees is as per the plans. It involves establishing
performance standards and comparing them with the actual performance. In case
of any variations, necessary steps are to be taken for its correction.
Definition of Business
Management:-
Business management definition is managing the coordination
and organization of business activities. This typically includes the production
of materials, money, and machines, and involves both innovation and marketing.
Henri Fayol
The 14 principles of
Management are (Henri Fayol):
1.
Division of Work
2.
Authority and Responsibility
3.
Discipline
4.
Unity of Command
5.
Unity of Direction
6.
Subordination of Individual Interest
7.
Remuneration
8.
The Degree of Centralization
9.
Scalar Chain
10.Order
11.Equity
12.Stability of Tenure of Personnel
13.Initiative
14.Esprit de Corps
1. Division of work -
Henri believed that segregating work in the workforce amongst the worker will
enhance the quality of the product. Similarly, he also concluded that the
division of work improves the productivity, efficiency, accuracy, and speed of
the workers. This principle is appropriate for both the managerial as well as a
technical work level.
2. Authority - Managers must have the
authority to give orders, but they must also keep in mind that with authority
comes responsibility.
3. Discipline – Discipline must be upheld
in organizations, but methods for doing so can vary.
4. Unity of Command – Employees should have only one
direct supervisor.
5. Unity of Direction – Teams with the same objective
should be working under the direction of one manager, using one plan. This will
ensure that action is properly coordinated.
6. Subordination of Individual Interests
to the General Interest – The interests of one employee should not be
allowed to become more important than those of the group. This includes
managers.
7. Remuneration – Employee satisfaction depends
on fair remuneration for everyone. This includes financial and non-financial
compensation.
8. Centralization – This principle refers to
how close employees are to the decision-making process. It is important to aim
for an appropriate balance.
9. Scalar Chain – Employees should be aware of
where they stand in the organization's hierarchy, or chain of command.
10.Order – The workplace facilities must be clean,
tidy and safe for employees. Everything should have its place.
11.Equity – Managers should be fair
to staff at all times, both maintaining discipline as necessary and acting with
kindness where appropriate.
12.Stability of Tenure of Personnel – Managers should strive to
minimize employee turnover. Personnel planning should be a priority.
13.Initiative – Employees should be given the
necessary level of freedom to create and carry out plans.
14.Esprit de Corps – Organizations should strive to
promote team spirit and unity.
1 comment:
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