Management topics

Basic functions of management
Management operates through various functions, often classified as planning, organizing, leading/motivating and controlling.
• Planning: deciding what needs to happen in the future (today, next week, next month, next year, over the next 5 years, etc.) and generating plans for action.
• Organizing: making optimum use of the resources required to enable the successful carrying out of plans.
• Leading/Motivating: exhibiting skills in these areas for getting others to play an effective part in achieving plans.
• Controlling: monitoring -- checking progress against plans, which may need modification based on feedback.
[edit] Formation of the business policy
• The mission of the business is its most obvious purpose -- which may be, for example, to make soap.
• The vision of the business reflects its aspirations and specifies its intended direction or future destination.
• The objectives of the business refers to the ends or activity at which a certain task is aimed.
• The business's policy is a guide that stipulates rules, regulations and objectives, and may be used in the managers' decision-making. It must be flexible and easily interpreted and understood by all employees.
• The business's strategy refers to the coordinated plan of action that it is going to take, as well as the resources that it will use, to realize its vision and long-term objectives. It is a guideline to managers, stipulating how they ought to allocate and utilize the factors of production to the business's advantage. Initially, it could help the managers decide on what type of business they want to form.
[edit] How to implement policies and strategies
• All policies and strategies must be discussed with all managerial personnel and staff.
• Managers must understand where and how they can implement their policies and strategies.
• A plan of action must be devised for each department.
• Policies and strategies must be reviewed regularly.
• Contingency plans must be devised in case the environment changes.
• Assessments of progress ought to be carried out regularly by top-level managers.
• A good environment is required within the business.
[edit] The development of policies and strategies
• The missions, objectives, strengths and weaknesses of each department must be analysed to determine their roles in achieving the business's mission.
• The forecasting method develops a reliable picture of the business's future environment.
• A planning unit must be created to ensure that all plans are consistent and that policies and strategies are aimed at achieving the same mission and objectives.
• Contingency plans must be developed, just in case.
All policies must be discussed with all managerial personnel and staff that is required in the execution of any departmental policy.
[edit] Where policies and strategies fit into the planning process
• They give mid- and lower-level managers a good idea of the future plans for each department.
• A framework is created whereby plans and decisions are made.
• Mid- and lower-level management may add their own plans to the business's strategic ones.
[edit] Managerial levels and hierarchy
The management of a large organization may have three levels:
1. Senior management (or "top management" or "upper management")
2. Middle management
3. Low-level management, such as supervisors or team-leaders
4. Foreman
5. Rank and File
Top-level management
• require an extensive knowledge of management roles and skills.
• They have to be very aware of external factors such as markets.
• Their decisions are generally of a long-term nature
• Their decision are made using analytic, directive, conceptual and/or behavioral/participative processes
• They are responsible for strategic decisions.
• They have to chalk out the plan and see that plan may be effective in the future.
• They are executive in nature.
Middle management
• Mid-level managers have a specialized understanding of certain managerial tasks.
• They are responsible for carrying out the decisions made by top-level management.
Lower management
• This level of management ensures that the decisions and plans taken by the other two are carried out.
• Lower-level managers' decisions are generally short-term ones
Foreman
• They are men who have direct supervision over the working force in office factory, sales field or other areas of activity of the concern.
Rank and File
• The responsibilities of the persons belonging to this group are even more restricted and more specific than those of the foreman.