Management

Management

Organization - A group of people working together in a structured and coordinated fashion to achieve a set off goals.

Profit making, non-profit making, public, private.

Stake holders - group of people who are interested in the business of the organization

External, internal, both

Management – Process of using human, financial, physical and information resources of the organization in effective and efficient way by going through planning, organizing, leading and controlling them to achieve organization’s goals and objectives.

The purpose of management is utilizing resources wisely and in cost effective way (efficiently) and make right decision and implement them successfully. The manager’s primary responsibility is to carry out the management process ( input  process  output )

Areas of mgt – marketing, HR, production.. Levels of mgt – top, middle, first-line

Managerial roles

Interpersonal - coordinate and interact with employees and provide direction to the organization

Figurehead role: symbolizes the organization and what it is trying to achieve.

Leader role: train, counsel, mentor and encourage high employee performance.

Liaison role: link and coordinate people inside and outside the organization to help achieve goals.

Information – related with tasks needed to obtain and transmit information for management

Monitor role : analyze information from the internal and external environment

Disseminator role: transmit information to influence attitudes and behaviour of employees.

Spokesperson role : use of information to positively influence the way people stake holders respond to it

Decisional role - the methods managers use to plan strategy and utilize resources to achieve goals

Entrepreneur role : deciding upon new projects or programs to initiate and invest.

Disturbance handler role: assume responsibility for handling an unexpected event or crisis.

Resource allocator role : assign resources between functions and...