Overview of MANAGEMENT
· Intro of management
Management involves managing efficiently and effectively the activities of man, machine, material and money. Efficiency refers to getting the maximum output from the available scarce resources i.e. ‘doing thing right’. Effectiveness refers to ‘doing the right things’ to achieve desired organizational objectives.
· Definition of management
Management is the process of planning, organizing, leading staffing and controlling the activities of various resources within the organization through systematic, coordinated and cooperative human efforts to achieve organizational objectives.
Louis E. Boone and David L. Krutz define management as “the use of people and other resources to accomplish objectives.”
· Function of manager
1 Planning
2. organizing
3. staffing
4. leading
5.
· Planning :- planning is the process of selecting goals for an organization and designing necessary programs to achieve desired goals. Planning helps managers to decide on the activities to be performed with available resources.
· Organizing :- Organizing is the process of assigning and allocating tasks, authority and resources to enable a firm to achieve its organizational objectives.
· Staffing :- Staffing involves manning the various position created by the organizing process. It involves activities such as identifying work-force requirements, recruitment, selection and orientation of new employees.
· Leading :- Leading involves directing, influencing and motivating employees towards achieving organizational objectives.
· Controlling :- the main elements of the control process include establishing the standards of performance, measuring the actual performance, comparing the actual performance with the standards and taking corrective action in case of deviation.
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