Management involves the manipulation of the human capital of an enterprise to contribute to the success of the enterprise. This Implies effective communication: an enterprise environment (as opposed to a physical or mechanical mechanism), Implies human motivation and Implies some sort of successful progress or system outcome. As such, management Is not the manipulation of a mechanism (machine or automated program), not the herding of animals, and can occur in both a legal as well as illegal enterprise or environment.
Based on this, management must have humans, communication, and a positive enterprise endeavor. Plans, measurements, motivational psychological tools, goals, and economic measures (profit, etc. ) may or may not be necessary components for there to be management. At first, one views management functionally, such as measuring quantity, adjusting plans, meeting goals. This applies even In situations where planning does not take place. N for-profit work, management has as its primary function the satisfaction of a range of stakeholders.
This typically Involves making a profit (for the shareholders), creating valued products at a reasonable cost (for customers and providing rewarding employment opportunities for employees. In nonprofit management, add the importance of keeping the faith of donors. In most models of management and governance,
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In many organizations, the number of managers in every level resembles a pyramid. Each level is explained below in specifications of their different responsibilities and likely job titles. [1 2] Top-level managers The top consists of the board of directors (including non-executive directors and executive directors), president, vice-president, Coos and other members of the C- level executives. They are responsible for controlling and overseeing the entire organization. They set a tone at the top and develop strategic plans, company policies, and make decisions on the direction of the business.
In addition, top-level managers play a significant role in the manipulation of outside resources and are accountable to the shareholders and general public. The board of directors Is typically primarily composed of non-executives which owe a fiduciary duty to shareholders and are not closely Involved In the day-to-day activities of the organization, although this varies depending on the type (e. G. , public versus private breaches of that duty and typically insured under directors and officers liability insurance. Fortune 500 directors are estimated to spend 4. Hours per week on board duties, and median compensation was $212,512 in 2010. The board sets corporate strategy, makes major decisions such as major acquisitions, and hires, evaluates, and fires the top-level manager (Chief Executive Officer or CEO) and the CEO typically hires other positions. However, board involvement in the hiring of other positions such as the Chief Financial Officer (SCOFF) has increased. 14] In 2013, a survey of over 160 Coos and directors of public and private companies found that the top weaknesses of Coos were “mentoring skills” and “board engagement”, and 10% of companies never evaluated the CEO. 1 5] The board may also have certain employees (e. G. , internal auditors) report to them or directly hire independent contractors; for example, the board (through the audit committee) typically selects the auditor. Helpful skills of top management vary by the type of organization but typically includea broad understanding competition, world economies, and politics. In edition, the CEO is responsible for executing and determining (within the board’s framework) the broad policies of the organization.
Executive management accomplishes the day-to-day details, including: instructions for preparation of department budgets, procedures, schedules; appointment of middle level executives such as department managers; coordination of departments; media and governmental relations; and shareholder communication. Middle-level managers Consist of general managers, branch managers and department managers. They are accountable to the top management for their department’s function. They devote ore time to organizational and directional functions.
Their roles can be emphasized as executing organizational plans in conformance with the company’s policies and the objectives of the top management, they define and discuss information and policies from top management to lower management, and most importantly they inspire and provide guidance to lower level managers towards better performance. Their functions include: Design and implement effective group and inter-group work and information systems. Define and monitor group-level performance indicators. Diagnose and resolve problems within and among work groups. Design and implement reward systems that support cooperative behavior.
They also make decision and share ideas with top managers. First-level managers Consist of supervisors, section leaders, foremen, etc. They focus on controlling and directing. They usually have the responsibility of assigning employees tasks, guiding and supervising employees on day-to-day activities, ensuring quality and quantity production, making recommendations, suggestions, and up channeling employee problems, etc. First-level managers are role models for employees that provide: Basic supervision Motivation Career planning Performance feedback Function of Management
Management operates through various functions, often classified as planning, organizing, staffing, leading/directing, controlling/monitoring. Planning: Deciding next five years, etc. ) and generating plans for action. Organizing: (Implementation)pattern of relationships among workers, making optimum use of the resources required to enable the successful carrying out of plans. Staffing: Job analysis, recruitment and hiring for appropriate Jobs. Leading/directing: Determining what must be done in a situation and getting people to do it. Controlling/monitoring: Checking progress against plans. Evolution of management thought:
Scientific Management School 2. Administration Management school 3. Bureaucracy Management. Neo- classical Management includes 1 . Human relation school 2. Behavioral Management School Modern Management includes 1 . Social system school 2. Decision theory school 3. Quantitative Management school 4. System Management school 5. Contingency Management school. Bureaucracy Management:Max Weber known as father of modern Sociology analyzed bureaucracy as themes logical & structure for large organization than they would have been without you. The science is in how you do that. There are four basic pillars: plan, organize, direct, and monitor.