What is management? Who is the good manager? What makes the good manager? Management in business and organizations is the function that coordinates the efforts of people to accomplish goals and objectives using available resources efficiently and effectively. Management comprises planning, organizing, staffing, leading or directing, and controlling an organization or initiative to accomplish a goal. Resourcing encompasses the deployment and manipulation of human resources, financial resources, technological resources, and natural resources. Management is also an academic discipline, a social science whose object of study is the social organization. Definitions Views on the definition and scope of management include: Management is defined as the organization and coordination of the activities of an enterprise in accordance with certain policies and in achievement of clearly defined objectives Fredmund Malik defines as Management is the transformation of resources into utility. Management included as one of the factors of production - along with machines, materials and money Peter Drucker (1909–2005) saw the basic task of a management as twofold: marketing and innovation. Nevertheless, innovation is also linked to marketing (product innovation is a central strategic marketing issue). Peter Drucker identifies marketing as a key essence for business success, but management and marketing are generally understood[by whom?] as two different branches of business administration knowledge. Andreas Kaplan specifically defines European Management as a cross-cultural, societal management approach based on interdisciplinary principles. Directors and managers should have the authority and responsibility to make decisions to direct an enterprise when given the authority As a discipline, management comprises the interlocking functions of formulating corporate policy and organizing, planning, controlling, and directing a firms resources to achieve a policys objectives The size of management can range from one person in a small firm to hundreds or thousands of managers in multinational companies. In large firms, the board of directors formulates the policy that the chief executive officer implements.
Posted on: Tue, 16 Sep 2014 02:55:51 +0000
Trending Topics
Recently Viewed Topics
© 2015