Principle of Management
Introduction to Management
It is crucial for an employee of an organization to understand the structure of the organization and the functions of each of the level of work place. To know the roles performed by managers at our organization and the management function of planning, organizing, leading and controlling in order to achieve the organizational goals. These are called Management Process.
The first job of the managers or executives is to make the organization perform. The managers are considered the key person in the society and their roles are becoming increasingly important. Whether they are top level managers, middle level managers or lower level managers, or professional managers such as doctors, engineers, accountants etc.., managers have contributed a lot to the development of the overall society of the world. Careers in organizations, that is, careers as managers and other professional fields are the principal career opportunities for educated people. Those with diplomas and degrees can expect to spend all their working lives as managers or as professional employees of institutions.
Organizations and their managers play a very important role in enhancing the quality of life of the society and in contributing towards the development and the economic growth of many nations of the world.
The Functions of Managers
In order for a manager to effectively manage an organization, he or she must perform management functions. Management functions comprises of the activities of :-
Planning
Planning involves selecting missions and objectives and the actions to achieve them, it requires decision making, that is, choosing future courses of action from among alternative. No real plan exists until a decision-a commitment of human or material resources or reputation has been made.
Plans are statement of how objectives are to be accomplished.
As a manager, whether he is top manager or lower level manager, he has to plan. Through planning, managers can inform their subordinates about the expectations of the management, and the objectives of the organization can be achieved. Some of the important reason of planning are:
Planning helps to determine what opportunities there are to exploit. In other words, the profitable alternatives that exist are identified through a planning process.
Planning enables us to identify the course of action by setting objectives and choosing alternatives that will be most profitable.
Without proper plans, it will be left to chance and therefore to risk.
Through plans, resources are efficiently