Management - Research Paper Example

?Running Head: Management Management [Institute’s TABLE OF CONTENTS Introduction to Management 3 Management Functions 4 Management Roles 7 Difference between Managers and Leaders 7 Importance of Management 8 Management Approaches/Theories 9 Application of Management Approaches in Real Life 11 Conclusion 12 References 13 Introduction to Management As the world has entered the twenty first century, it has experienced revolutionary changes in many facets of business community. The advancements have not only come under experience in the economic, political, and social sectors but they have transformed and modernized the Industrial sector as well. With the increase in globalization, the business and organizations are emerging on a central platform and universal trade and businesses are expanding their operations to international markets. With the Industrial boom, organizations and enterprises are expanding their business operations as with the increase in world population, the demand for goods and services is escalating, and therefore, in order to meet the customer requirements and to gain a competitive edge over competitors, companies are rising (Brunsson, 2008). Whether a small organization or a giant corporation, management is one of the primary, foremost and the most significant aspect that every organization needs. The management refers to a practice or a course of action that involves successful, valuable, proficient, and competent accomplishment of set of actions and tasks via dealing with other people. Management is a process that makes the maximum use of the tangible assets through integrating couple of people or employees collectively under one umbrella in order to achieve and attain the organization’s aims, targets, missions and visions (Brunsson, 2008). The top person of the management requires a lot of devotion, commitment, determination, and hard work in order to thrive and be successful and achieve the desired outputs and results. In order to become the best or the cream of the crop, an individual should possess, widen, extend and increase their management and cross-functional leadership abilities. The primary and principal factors for any manager or an organization are to identify and evaluate the SWOT analysis that represents the strengths, weaknesses, opportunities, and threats. It is vital to reveal the strengths that a person or organization possess, and enhance and refine them up. In addition, the weaknesses should come under recognition by the person or the organization so that with the help of different techniques the weakness can overcome. Organizations must try to convert the weaknesses into opportunities so that they can surmount their weaknesses and can have opportunities to grow themselves. Lastly, the threats that they have from their competitors present in the market should come under observation intimately and thoroughly. A successful leader develops all the attributes and elements of leadership, communication, conceptual, interpersonal, and technical abilities and proficiencies (Brunsson, 2008). Management is a theory and process that comes under practice by all institutions whether they are educational, business, or governmental and every individual being a student plays an important role in the building and progress of organizations like school and management. Management Functions Management encompasses several functions with it that includes planning, organizing, staffing, directing, coordinating/communicating, controlling/monitoring, and budgeting. Planning is the stepping-stone in any management aspect on which the functions of management come under establishment and creation. Planning can come under implementation for any organization in order to accomplish and achieve the company’s mission, vision, targets and aims that the organization sets for them to flourish and generate revenues. Planning come under performance in the form of developing strategies and methods that the employee practices towards the achievement of organization’s goals. There are two types of planning engaged in management: strategic and operational planning. The strategic planning involves the development of the enterprise goals and targets on whole in the broad spectrum, where the internal and external factors come under evaluation that may have an impact on the targets that the company has set. Whereas, the operational planning consists of the strategies as how to implement these particularly defined strategies and the actions to follow in order to accomplish the company’s overall ambitions (Williams, 2003). The subsequent function of management is to organize. To organize in management refers to the categorization, classification and systematize the entire resources of the enterprise in such a way that the resources follows and perform the guidelines, rules and policies, which has come under planning on the initial level. The organization of the resources also include functions such as departmentalization of employees according to their specialized attributes that they possess, authorities and job descriptions and tasks should come under distribution, and development, uphold and retain the relationships within and outside the enterprise (Williams, 2003). Staffing is another crucial function of management, as the resources that the companies employ and take into service will depend upon the output of the company’s aims and objectives. Job evaluations, job descriptions, recruitment, and staffing of the employees are the key roles that the management carries out in this function (Williams, 2003). Directing is following to the second function of management. Managing, organizing, administering and having power over the resources are the main features and elements that the management performs in this function. The management of the enterprise direct and assist the employees in order to accomplish not only the desired aims and objectives of the company as well as in attaining the employees’ individual professional objectives that they have designed for themselves. The management with the leadership qualities persuades and influence through inspiration, and exchange of few words or ideas that provides a great deal of help and support to the employees to attain their aims and objectives. The employee with high motivational factors tends to accomplish the desired organization’s aims and objectives more rapidly, promptly and enthusiastically (Williams, 2003). In order to flourish the company output and production in a healthy manner, and helps in its growth it is imperative to sustain and keep up the healthy associations and affiliations with other employees within the organization. Communication is one of the prime and crucial factors that help in the development of the strong relationship amongst the employees that eventually leads to productive output, which will benefit the company. With efficient communication, the managers would be able to identify the elements or the branch that demands change or enhancements. With the intention of improved and enhanced directions of the company’s planning, it is vital for the managers to have timely assessments and evaluate if change is required or not (Williams, 2003). Control is another function of the management that plays a chief role in the management for any enterprise that consists of creating and forming set principles on which the employees’ performance would come under measure. The performance standards that the managers formulate will ground on the aims and targets of the enterprise. Controlling employees engage practices of assessment of employee’s job functions output that they execute. The future planning, counteractive and preventive measures, and dealings will come under basis on the results of the assessments results. Monitoring and controlling is an ongoing continual process that managers undergo in order to view that the planning comes under execution accordingly (Williams, 2003). Management Roles The management in general revolves around three chief roles: interpersonal, informational, and decisional roles. The Interpersonal role refers to an individual who acts and performs the task of a leader and is accountable for being an interconnecting and coordinating relationship between the internal workforce and external associates. In addition, he carries out the duty of recruitment of employees and their training and development (Lussier, 2008). Furthermore, the informational role of management includes gather, supervise, examine, and propagate the data and records. The individual keep an eye, administer, and check the company information, and broadcast and spread the gathered information amongst the employees that comes under gathering from external sources (Lussier, 2008). The third role that management possesses is the decisional role that states from its name that the person is always circling decision-making opportunities. The individual acts as an entrepreneur and always hunt for options and favorable circumstances in order to bring a modification, reciprocate and counter them, and take complete advantage of it. Moreover, they also proceed as a representative body at internal and external agreements. Managers play a key role in formulating and endorsing the decisions that come under association in the distribution of the resources, as well as at the time when enterprise confronts difficulty they work on the preventive and counteractive steps and undertakings (Lussier, 2008). Difference between Managers and Leaders Management and Leadership are the two terms that has a very close relation to each other but they have a slight difference in meanings from one another. An individual who possess the leadership qualities means that he has the power to make others trail his footsteps through his hard work, determination and influential strength that can change the perspective of the other person. In addition, the leader also has the capability to emerge and materialize a modern and contemporary way, path, dream, or conception for a number of people who follow his imprints (Daft & Marcic, 2010). While looking at the other end of the spectrum, manager has the potentials to make a faction of people manage, organize, administer, govern and supervise in relation with the ideals, morals, ethics, principles and standards that those people already possess. Consequently, management and leadership are the two efficiently performed qualities that any individual can own and make the maximum use out of it (Daft & Marcic, 2010). Importance of Management Management in any field or organization whether it is financial institution, educational institution or any other business is the most significant aspect so that goals and objectives can come under accomplishments with the paramount utilization of resources. Organizational management is vital, as employees need to come under encouragement so that they can prove to be productive in achieving the goals and objectives of the organization. Therefore, efficient management will always lead in employees’ motivation as they act as the key influential aspect (Purcell, 2008). Management is also important for enterprise as it provides a great deal of assistance in the growth and development of the business as they build up and enhance the competitive potentials. Team spirit amongst employees is another motivating factor that the management works on so that all employees can feel the confidence of being a member of the family of the organization. With the thought and idea of belonging to a team, increases the overall productivity of the employees, thus leading to the benefit for the company (Purcell, 2008). Management make certain criteria as their primary function to take the advantage of the managers in an efficient manner so that their skills, expertise and experience can be optimally utilized for the company’s revenue and profitability as well as the managers get complete exposure of their skills and get enhanced on personnel level (Purcell, 2008). Management is a process that does not restrict its performance and execution to business community but come under practice in educational institutions as well. The effectiveness of management comes under evidence through the ways and techniques that the managers apply in the time of hardships and difficulty and this conclude the results on long-term basis (Purcell, 2008). With the importance of management, a well-known person concludes, “Companies fail when they become complacent and imagine that they will always be successful. Therefore, we are always challenging ourselves. Even the most successful companies must constantly reinvent themselves” (Gershon, 2008). Management Approaches/Theories There are several hypotheses and approaches of management, which come under design in order to separate and enlighten the fundamental facets in the application of management. These approaches define, classify, categorize, and recognize the efficient and valuable techniques of management that affects the business processes and its outcomes. These approaches and methods come under categorization in four areas of management: scientific, human, contingency, and collaborative approach (Cole, 2003). The first approach is the scientific approach; also called the classical approach refers to a technique or concept that segregates the employees in a hierarchy form. The hierarchies come under formation based on standards of the exceptional skills, abilities and capabilities that employee possess. Management develops specific departments for the fulfillment of particular tasks and role for which unique and exceptional employee come under recruitments (Cole, 2003). Human approach or the behavioral approach defines the appreciative, encouraging, and motivating leadership of the management. As human resources are considerably the asset, that gives the most productive and efficient output to the organization, therefore, they are of vital importance for any organization. In addition, it has come under evidence that the progress and growth of the company depends upon its employees and the business is likely to expand and flourish when the employees of the organization will do well. This behavioral approach provided heaps of assistance to the management in identifying the behaviors, attitudes and the requirements of the employees (Cole, 2003). Contingency approach, also termed as systems approach identifies that organization is a structure in itself as the organizational culture that comprise of its customs and ethics amalgamate and assimilate the disperse, various and diverse departments. The system or the structure of the organization classify and characterize the diverse departments of the enterprise (Cole, 2003). Political or collaborative approach of the management describes the authorization provided to employees, and the mutual and shared distinctive feature of the employees. With the collaborative approach management are always seeking for implementing way outs that have a positive impact on the policies and plans of the enterprise along with constructive changes in organizational culture. Management continuously works towards building associations and connections within the organizations as well as with external prospects (Cole, 2003). Application of Management Approaches in Real Life Many of the management approaches and techniques come under application in various fields and institutions. The organizations make the most favorable use of the above-mentioned approaches, however this contemporary management approaches also come under practice in educational institutions on a large sale in the present times. The management fulfils the leading and primary functions to ensure that the company benefits and raise profitability. The management works in an efficient manner with the prime motive to accomplish the aims and objectives that a company set for it. The management is also responsible to make sure that the utilization of employees and resources come under practice with the investment and involvement of minimal expenditures. The employees’ protection and security is also one of the foremost duties of the management and to motivate them is a big challenge as with the high level of motivation that employees are more likely to perform better and give productive outputs. One of the most crucial concerns that have come under revolution is the discrimination factor that every organization observed. Over the past few years, the minorities and women countenance less bias factor and come under not only with employment opportunities but also with the managerial positions and job responsibilities that they deserve according to their expertise and skills. Although many organizations still practice, the male dominant cultures in their organizations with the most senior positions, yet this trend is now observing a change and women come under subject with equal employment opportunities. The management team also gives equal importance to all the religious activities and develops their approaches and techniques in such a way that all employees with diverse cultural backgrounds feel themselves welcomed as well as following the culture and norms of the organizations as well. Conclusion Management is one of the most imperative aspects that any organization requires. Management refers to a process that involves the accomplishment of enterprise goals, objectives, targets, mission, and visions through the maximum utilization of resources and people. It is important for a manager to have interpersonal, leadership and management skills in order to influence, motivate and encourage its resources so that the employees can give their optimal output to achieve the company’s goals and objectives. Management has three principal roles that includes interpersonal, informational and decisional role, which any individual can own. Management also practices several functions such as organizing, directing, staffing, leading, and controlling. These functions and management roles help the management to accomplish the goals of the organization efficiently and to give rise to its profitability. The management plays a great deal of importance for an organization in all aspects and in the growth and expansion of the organization. The basic skills that a manager should have are the technical proficiency, human skill, conceptual ability and the design skill. With the several management approaches, that the organizations apply consists of human approach, collaborative approach, systematic approach, and scientific approach. When applying in the context of school management the management integrates the opinions and suggestions of improvements from teacher body, student body, and the administration body. Working in association with these bodies, mainly students will lead to productive outputs in terms of the development and innovative progress of the school. References Brunsson, K. H. (2008). The notion of general management. Copenhagen Business School Press. Cole, G. A. (2003). Management theory and practice. Cengage Learning EMEA. Daft, R. L., Marcic, D. (2010). Understanding Management. Cengage Learning. Gershon, R. A. (2008). Telecommunications and business strategy. Taylor & Francis. Lussier, R. N. (2008). Management Fundamentals: Concepts, Applications, Skill Development. Cengage Learning. Purcell, J. (2008). People Management and Performance. Taylor & Francis. Williams, C. (2003). Management, Volume 1. Thomson/South-Western. Read More