Notesale: Turn your study into money

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INTRODUCTION TO PRINCIPLES OF MANAGEMENT
Define:
Management

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Mary Parker Follett (1868–1933) defined management as the art of getting things done through the efforts of other people
The process of administering and coordinating resources effectively and efficiently with the aim of achieving organizational
goals
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Efficiency means doing things in an optimal way
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Efficiency refers to doing things right
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Effectiveness means doing the right task ,completing activities and achieving goals
It is also measuring the managerial performance
In addition, effectiveness can mean the pursuit of appropriate goals
NB/ We say that something is efficient but not effective where there are no wasted resources, but no achievement of goals
either
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For example, if a company is not doing well it may decide to train its workforce to use a new technology
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Manager
A manager is one who plans, organizes, directs and controls resources in order to achieve the expected results
The main functions of management are as follows:
Planning
Organizing
Directing
Controlling
Planning:
This means looking ahead and chalking out future courses of action to be followed
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Therefore,
planning can be defined as a systematic is a systematic activity which determines when, how and who is going to perform a
specific job
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It is rightly said “Well plan is half done”
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It is the basic
management function which includes formulation of one or more detailed plans to achieve optimum balance of needs or
demands with the available resources
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Planning is deciding best alternative among others to perform different managerial
functions in order to achieve predetermined goals
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Planning
bridges the gap between where we are to and where we want to go
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It is the first step to take in management
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Planning activity focuses on attaining goals
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Planning is concerned with the success of the organization in the short term as well as in the long term
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It is a function in which the synchronization and combination of
human, physical and financial resources takes place
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It is a way of creating a mechanism to put plans
into action
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Hence, a manager always has to organize in order to get
results
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Tasks are organized so
that the output of each individual contributes to the success of departments, which, in turn, contributes to the success of
divisions, which ultimately contributes to the success of the organization
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It can be defined as guiding the activities of organization
members in the direction that helps the organization to move towards the fulfilment of the goals
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Human-oriented work situations usually generate higher levels of
production over the long term than do task oriented work situations because people find the latter type distasteful
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This involves the following roles played by the manager:
Gather information that measures performance
Compare present performance to pre established performance norms
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Controlling is an ongoing process
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It's object is to point out weaknesses and errors in order to rectify [them] and prevent recurrence
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Management theory
addresses how managers and supervisors relate to their organizations in the knowledge of its goals, the implementation of
effective means to get the goals accomplished and how to motivate employees to perform to the highest standard
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They give an
explanation to assist employees to effectively relate to the business goals and implement effective means to achieve the
same
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Taylor had a
simple view about what motivated people at work - money
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Therefore he introduced the DIFFERENTIAL PIECE RATE
SYSTEM of paying wages to the workers
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Time and motion study - Study the way jobs are performed and find new ways to do them
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Codify the new methods into rules
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