Management (in general) Essay Example | Topics and Well Written Essays - 2500 words

Management (in general) - Essay Example The leader must communicate to its members so that as a group, they will know what to perform in order to achieve their goal. The leader will give a group of instructions that will guide the members of the organization. The instructions must be clear enough to understand well by the members. Decision theory is a general approach to decision making when the outcomes associated with the alternatives are often in doubt. It helps managers with decisions on process, capacity, location and inventory, because such decisions are about an uncertain future. Managers in other functional areas can also use decision theory (Lundy). According to Lundy, "Management is principally a task of planning, coordinating, motivating and controlling the efforts of others towards a specific objective".1 This definition covers the three major functions of management, viz., planning, implementing and controlling. It points out management is what management does, i.e., planning, executing and controlling group activities. Thus, managing is an art of creating favorable performance environment enabling the group to attain stated objectives and management is the body of organized knowledge, i.e., science which underlines the art. "Management is what management does" - points out the functional approach to management and emphasizes the importance of distinctive managerial functions which together give us unified concept of the process of management. Functions of management are also called elements of management. An analysis of the functions of management points out what management does. It also provides the basis for defining precisely the word 'management' (Drucker). Broadly speaking, a manager is called upon to perform the following managerial functions: 2.1 Planning When management is reviewed as a process, planning is the first function is to be performed by a manager. The work of a manager begins with the setting of objectives of the organization and goals in each area of the business (Sherlker). This is done through planning. A manager proves the present to find where he is and he then forecasts future objectives which will indicate where he wants to be. The alternatives to achieve the objectives are evaluated and the selected alternatives become the plan of action. 2.2 Organizing Managing a business is not just planning. It includes putting life into the plan by bringing together the executive personnel, workers, capital, machinery, materials, physical facilities and other things or services to execute plans. When these resources are assembled the enterprise comes to life. Organizing involves determining and noting activities needed to fulfill the objectives, grouping these activities into manageable units or departments, and assigning such groups of activities to managers (Sherlker). Delegation of authority creates an organization. It determines authority - responsibility relationship. These relationships must be properly coordinated to secure unity of organization. 2.3 Staffing Staffing involves filling the positions needed in the organization