Management

The way organization organizes and directs their employees, workflows and operation to achieve
specific goals.
Organization: organization is the group of people working together to achieve specific goal.
There are two types of organization
1. Organization for profit: the organization with ultimate goal of getting higher and higher
profit. These organizations put all the efforts to generate sales for the company to get
maximum profit
2. Nonprofit organization: Not for profit organizations are those organization whose
objective or goal is not to earn profit in the term of money but to raise the standard of
living in the society and work for specific cause.
Why to Study Management
Universality:
Management is universal phenomena. Every profession and every field of life needs
management. In order to achieve the goals and targets, the task must be well managed.
Management is the need of all size whether small medium or large organization. All type of
organization profit or nonprofit organizations. Similarly, it is needed at all levels of management
from top to bottom and in every sector such as manufacturing, HR, Finance, Marketing,
accounting etc.

The Reality of Work

Another reason for studying management is the reality that for example most of you, once you
graduate from university and begin your career, you will either manage or be managed. For those
who plan to be managers, an understanding of management forms the foundation upon which
to build your management skills. For those of you who don’t see yourself managing, you’re still
likely to have to work with managers. Also, assuming that you’ll have to work for a living and
recognizing that you’re very likely to work in an organization, you’ll probably have some
managerial responsibilities even if you’re not a manager. Our experience tells us that you can
gain a great deal of insight into the way your boss (and fellow employees) behave and how
organizations function by studying management. Our point is that you don’t have to aspire to be
a manager to gain something valuable from a course in management.
Reward and Challenges:
Rewards

 Create a work environment in which organizational members can work to the best of their
ability.
 Have opportunities to think creatively and use imagination.
 Help others find meaning and fulfillment in work.
 Work with a variety of people.
 Receive recognition and status in the society.
 Play a role in influencing organizational outcomes.
 Receive appropriate compensation in the form of salaries, bonuses, and stock options.
 Good managers are needed by organizations.
Challenges

 Have to deal with a variety of personalities.

 Often have to make do with limited resources.
 Do hard work organizational members can work to the.
 May have duties that are more clerical best of their ability than managerial.
 Success depends on others’ work performance.
 Motivate workers in chaotic and uncertain situations.

Managerial Roles/How do Manager do their work

1. Interpersonal roles:

It refers to the activities that managers engage in to interact with and influence others. These
roles involve building relationships and networks, communicating with people both inside and
outside the organization, and representing the organization to various stakeholders. The three
interpersonal roles;

 Figurehead: In this role, managers serve as symbolic leaders of the organization, representing
it at official events and ceremonies, and performing other duties that are primarily
ceremonial or symbolic in nature.
 Leader: In this role, managers are responsible for leading and directing their teams, providing
guidance and support, and motivating employees to achieve their goals. They are also
responsible for creating a positive work environment and resolving conflicts that may arise
within their teams.
 Liaison: In this role, managers interact with people outside the organization, such as
suppliers, customers, government officials, and other stakeholders. They build relationships
with these individuals and groups and gather information that can be used to make strategic
decisions for the organization.

2. Informational roles:

Informational roles refer to the activities that managers engage in to process and distribute
information. These roles involve gathering, sharing, and analyzing information that is relevant
to the organization's operations and using it to make decisions. There three informational
roles.

 Monitor: In this role, managers gather information from various sources, including internal
reports, external news sources, and their own observations. They use this information to
identify trends, opportunities, and potential threats to the organization.
 Disseminator: In this role, managers share information with their team members and other
stakeholders within the organization. They ensure that information is communicated in a
timely and effective manner, using various channels such as meetings, emails, reports, and
presentations.
 Spokesperson: In this role, managers represent the organization to external stakeholders
such as the media, government officials, and customers. They communicate the
organization's goals, values, and achievements, and respond to inquiries and concerns from
external parties.
3. Decisional Roles:
Decisional roles refer to the activities that managers engage in to make decisions and take
action. These roles involve analyzing information, evaluating alternatives, and making choices
that impact the organization's operations and outcomes. There are four decisional roles;
 Entrepreneur: In this role, managers identify new opportunities for the organization and take
risks to pursue them. They initiate and lead new projects, products, or services that can create
value for the organization.
 Disturbance handler: In this role, managers deal with unexpected or disruptive events that
can affect the organization's operations. They identify and resolve problems, conflicts, and
crises that arise within the organization.
 Resource allocator: In this role, managers allocate resources such as time, money, and people
 to different activities and projects within the organization. They prioritize projects and
allocate resources to achieve the organization's goals and objectives.

 Negotiator: In this role, managers negotiate with other parties, such as suppliers, customers,
and employees, to reach agreements that are beneficial for the organization. They use their
skills to persuade, influence, and communicate effectively to achieve the organization's goals.

Functions of management:
1. Planning:
Planning involves setting objectives, defining strategies, and outlining tactics to achieve those
objectives. It is the process of deciding in advance what needs to be done, how it will be done,
when it will be done, and who will do it. Planning helps managers to anticipate and prepare for
future events, allocate resources effectively, and ensure that everyone in the organization is
working towards the same goals. For example, a manager might plan to increase the company's
market share by 10% over the next year. The strategy to achieve this goal might involve
developing new products, increasing advertising, and expanding into new markets. The tactics
required to carry out this strategy might include conducting market research, hiring additional
staff, and creating a social media marketing campaign.
2. Organizing:
Organizing involves arranging resources such as people, materials, and equipment in a way that
enables the organization to achieve its objectives. It includes designing the structure of the
organization, establishing job roles and responsibilities, and allocating resources to various
departments or units. Organizing helps managers to ensure that everyone is working together
towards the same goals and that resources are being used efficiently. For example, a manager
might organize a sales team to achieve the company's sales objectives. This would involve
identifying the necessary skills and expertise, recruiting and training staff, and setting up a
reporting structure to ensure that everyone is working effectively. The manager would also need
to allocate resources such as laptops, phones, and office space to the team.
3. Leading:
Leading involves influencing and motivating people to work towards the organization's
objectives. It includes providing direction, guidance, and support to employees, setting an
example for others to follow, and creating a positive work environment. Leading helps managers
to ensure that employees are committed to the organization's goals, that they are working
effectively, and that they are motivated to achieve success. For example, a manager might lead
a team of software developers who are creating a new app. The manager would need to provide
direction and guidance, motivate the team, and create a positive work environment to encourage
creativity and innovation. The manager might also set an example by working hard and
demonstrating a strong work ethic.
4. Controlling:
Controlling involves monitoring performance, comparing it to established objectives, and taking
corrective action when necessary. It includes setting standards for performance, measuring
actual performance, and making adjustments as needed. Controlling helps managers to ensure
that the organization is on track to achieve its goals, that resources are being used effectively,
and that problems are identified and addressed in a timely manner.
For example, a manager might set a sales target of $1 million for a particular quarter. The
manager would need to monitor the team's performance on a regular basis, comparing their
actual sales to the target. If the team is not on track to meet the target, the manager would need
to take corrective action, such as identifying and addressing performance issues or providing
additional training and resources. The manager might also need to adjust the sales target based
on changes in the market or other external factors.