1- 3 Learning Objectives Describe what management is, why management is important, what managers do, and how managers utilize organizational resources efficiently and effectively to achieve organizational goals Distinguish among planning, organizing, leading, and controlling (the four principal managerial tasks), and explain how managers’ ability to handle each one affects organizational performance
1- 4 Learning Objectives Differentiate among three levels of management, and understand the tasks and responsibilities of managers at different levels in the organizational hierarchy Distinguish between three kinds of managerial skill, and explain why managers are divided into different departments to perform their tasks more efficiently and effectively.
Various definitions: “ Management is a multi-purpose organ that manages business, manages managers & manages workers & work”-Peter Drucker “To manage is to forecast & to plan, to organize, to command, to co-ordinate & to control” - Henri Fayol “Management is the art of getting things done through & with people in formally organized groups” --Mary Parker Follett & Harrold Koontz “Management is the process of accomplishment of results through the efforts of other people” -Lawrence Appley
6 Management Is… Effectiveness Efficiency Getting work done through others
7 Efficiency and Effectiveness
8 Functions of Management
9 Planning and Decision Making Defining goals, establishing strategy and developing sub plans to choose alternatives and coordinate activities
10 Organizing Deciding where decisions will be made Who will do what jobs and tasks Who will work for whom
11 Leading Motivating Inspiring Leading
12 Controlling Monitoring progress towards goal achievement and taking corrective action when needed
1- 13 Levels of Management Figure 1.3
1- 14 Relative Amount of Time That Managers Spend on the Four Managerial Functions Figure 1.4
15 Managerial Skills Technical Skills Human Skills Conceptual Skills Motivation to Manage