Describe about the Theory of Management Principal and Process.
The assignment is on concepts of management describing management in brief along with its characteristics. The four functions of management are defined in detail along with how they should be implemented by the leadership of the organization. The next part describes the external factors affecting management along with contemporary management challenges. The work is a detail layout of what management is all about and provides insight into how management functions.
Various theorists defined the term administration in different ways to give their ideas about the definition of the Directorate. Although there are differences in how they defined to control the fundamental essence which derived from various ideas is the same; i.e. management is a team work to achieve individual objectives and goals which may be organisational, social or family oriented. According to F.W Taylor, management is the art of being aware of what needs to be done and then making sure that the things are done in the best possible ways incurring as minimum cost as possible. This definition of Taylor gives us the impression that management is team function as the easiest, cheapest, and the best possible way to get things done is through teamwork collaborating people together. The definition of management by Henry Fayol defining management as the function of forecasting, planning, organising, to command, coordinate and control apparently gives us the impression that the essence is the teamwork. Likewise, other definitions of the management point out to the same concept of teamwork to achieve organisational goals and objectives. Management has the following characteristics (Jonathan Sutherland, 2004).
Management as a function
Management is a function which is undertaken by team i.e. employees of an organisation under the leadership of an individual to carry out organisational tasks and activities with the aim of achieving a desired goals and objectives.
The concept of social process is clearly seen in control as the team consisting of employees of an organisation works for the betterment of organisation to fulfil their mutual objectives and goals. This is a characteristic seen in a society where every household has certain responsibilities towards their society for it to progress.
The concept of group effort is evident in management where every individual needs to play some roles or the other as per their capability for the entire organisational team to progress and move towards the accomplishment of stated objectives and goals.
The task under management is always aimed at accomplishing objectives and targets which have been already stated and established and the entire team work towards reaching that goals and objectives. It is the leadership which decides on what tasks are needed to be carried out and who would be the right person for any particular job and with whom he/she would be working.
Every organisational tasks or activity at every level require proper and efficient management for the tasks to be performed with perfection.
Management has a characteristic of science as it is a universally accepted concept which has been empirically derived and critically tested over times and is based on general principles. It is said to be art as in management every individual perform managerial tasks using their creativity and technical skills.
The four basic functions of management are planning, organising, leading and controlling. This process of performing four basic functions is called management process.
Following is the excellent layout of the four basic functions of management.
Managers in his/her business organisation must perform essential managerial functions efficiently to become successful so that the organisation moves forward in line with its mission, vision, objectives and goals. The basic administrative duties across the business vertical are classified into four steps which the managers need to take one at a time and perform them successfully. The first classifications of essential managerial functions were made by Fall which had functions of planning, organising, coordinating along with commanding and controlling of employees. Various other theorists attributed functions like communicating, staffing and decision-making. Later functions of Planning, organising, followed by features of leading and controlling were accepted as the four primary managerial functions which were widely accepted and prevalent till today. The other functions attributed by various theorists are considered to be subsets of these four functions (Ginter, 2008). Below we shall discuss four essential functions one by one.
Planning is a function where the managers define organisational goals and decide what tasks or activities need to be performed to attain the established aims and objectives. The role of planning requires managers to decide correctly on resource requirements to accomplish the goals and objectives. Planning is central to the other four managerial functions as it sets the tone for other duties to follow. Planning entails the following four functions
The elements under bullets pointed above are essential for organisational success in the long run. The short-term goals are equally dependent on these four elements. Any planning for the attainment of long-term targets and objectives requires managers to develop proper strategy known as strategic planning which varies under different circumstances. The next step is organising as discussed below.
Organizing is a function where managers perform three essential functions; assignment of tasks and activities to individuals, grouping tasks into various departments and allocating necessary resources to departments. For practical organising, managers need to use people and available resources properly for which he/she must consult individuals before allotting tasks. For organising to be, active managers must develop the organisational structure, acquire human resources, provide them with proper training, and establish networks and communication pattern.
Leading is the next step that follows after planning and organising where managers exercise influence and authority on his/her employees to get the required tasks performed for the attainment of organisational goals and activities. It is considered to be the most critical function of all as it demands various ways on parts of managers to influence and motivate employees so that they perform their tasks efficiently in line with organisational goals and objectives. The effectiveness of leading also depends on leaders or managers extraordinary ability and motivational procedures. Formation of powerful groups is the most important criteria of leading. Proper leading takes the organisation to a new high and leaders must have the ability to lead from the front (Ling, 2015).
Managing involves the task of monitoring all the relevant activities within the organisation to determine whether the implemented plans are working efficiently in line with the requirements; i.e. if the implementations are successfully achieving their goals or not. The function of controlling mostly needs managers to look into the activities of employees and correcting them whenever necessary. For proper controlling, managers use tools of performance appraisal, rewards and incentives to motivate employees. Employees are also penalised for underperforming on a regular basis.
The four essential functions of management as stated and described above are closely linked to each other. The planning function lays out the path for the other three to follow. Functions of planning when it is done properly by evaluating strength and weakness of organisation and available resources enables management in the decision-making process which in turn facilitates other three functions to be carried out in an orderly manner. Likewise, organising effects leading and controlling. Proper leading is essential for the execution of planning and coordination functions to facilitate controlling which is the last step in the managerial process. In other words, all of them have to be carried out keeping in mind the proper implementation of other functions and their accomplishments. For example before leading a leader has to make sure that for controlling function to be implemented the first two, i.e. planning and organising are done properly (Rossman, 2014).
The implementation of four basic functions of management with proper effect depends on a lot of the initiatives taken by the leader. Since all of them are related and, fallacies in one of them may lead to the failure of the project, the effectiveness of the leader plays a significant role in execution of the variety of tasks. A leader has to make sure that the planning and organising are in line with the stated objectives of the project undertaken. If the planning and coordination are not in line with the available resources, the leader needs to appraise the fallacy to the concerned department and make sure that either the means are fulfilled, or the goals and objectives are adjusted to bring down the targets and goals for rationalisation of the project. The leader needs to influence his subordinates using proper motivational tools and leadership techniques to get the work done from employees. The responsibility of aligning the organisational goals and objectives to that of employees for them to consider the organisation as a family rather than work place rests on the shoulder of leadership. A leader needs to identify the loopholes at every level of management and exercise efficient control throughout the project and make necessary adjustments whenever required. For effective leadership, a leader has to lead from the front and show deep empathy towards employees’ grievances and address them to keep the employees motivated. It is necessary to use tools such as performance appraisal and rewards performers with incentives and bonus for the purpose of motivation (Rollin, 2012).
The use of proper communication tools throughout the organisational hierarchy is an important part of management functions, and there has to adequate training and development process within the organisation for employees to learn the new changes and techniques taking place rapidly. The communication cell of the society needs to ensure that the communication flows smooth across the various level of management. The top level management needs to appraise accurately of any changes within the body to the middle-level managers that need to implement the changes at a lower level through proper communication and controlling. Likewise, any changes required during the execution of any task or activities needs to be communicated to the middle managers who can address the issue by informing top level management.
External factors are affecting the management process such as political, social, economic, technological, competition, etc. which impacts the management process. Here we shall discuss two three essential factors of social, race and political as these are the regarded as the primary factors in the administration of a project.
Social factors refer to the society in which the organisation is planning to carry out the business. The social element constitutes of various social attributes such as lifestyle of people, education, demographic factors, religious beliefs, buying habits, etc. along with disposable income of individuals. All of these impacts management functions as managers need to have a clear analysis of social factors before determining their business plans. Since this factor is external and the organization has no influence over it, they can only align their policies of activities with the determined social factors (Thomas, 2015).
Political factors refer] to the political situation in the area of business operation. Political factor is paramount for the organisation and its management to consider before implementation of any business plans. Various political parties have different agendas and the laws, rules, and regulations governing the nation or state impacts directly on business. Since the laws and legislation are passed by political establishment management is affected by political factors.
Competition is the most primary one among external factors as it determines many functions such as targeting, segmentation, pricing and promotion. The management has to undertake essential managerial functions after proper determination of competitive factors as their pricing policies accordingly along with determination of product volume and marketing strategy (Schwerin, 2015).
Managers around the world have to deal with more uncertainties under current business environment. The role of geopolitical factors is influencing organisational management policies every single day. Since the chaos around the world are increasing day by day and economic instability is on the rise, management under the current global scenario is all about keeping track of happenings around the world and dealing proactively with every change which may be required anytime. Another challenge facing management is the rapidly changing technology on which businesses has become heavily dependent. The advent of cloud computing, CRM system, etc. has provided managers with altogether new challenges. The managers have to keep track of every technological innovation in the marketplace and entertain any changes required in the IT field to maintain a competitive edge.
Conclusion
The concept of management has evolved over times, and contemporary management is all about forecasting risks and assuring quality which managers around the world has to importance. The rising competition not only necessitates the change in policies of pricing, volume, and marketing policies but it also needs to consider unpredictable macro and micro external factors. The rise of geo political influence has made organisations around the world insure their project with proper insurance policies. The margin for error is minimum, and along with traditional method new method for innovation in every aspect of management is necessary to maintain competitive strength and take the organisation forward.
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