Management can be referred to as the act of coordinating the efforts of various people in order to accomplish the desired goals/objectives using the available resources efficiently as well as effectively. The word manage comes from the Italian word maneggiare meaning to handle, especially tools.
The functions of management include:
- Planning: This function involves deciding what needs to happen in the future and making plans for action.
- Organizing: It is a management function of patterns of relationships among workers, and making optimum use of the resources required to ensure the successful carrying out of plans.
- Staffing: Staffing includes job analysis, recruitment as well as hiring individuals for appropriate jobs.
- Leading/directing: This management function involves determining what must be done in a particular situation and how to get people to do it.
- Controlling/monitoring: This is the last function of management and it involves checking progress against the plans.
Management contains the following roles:
- Interpersonal:These are management roles that involve coordination as well as interaction with the employees.
- Informational:These are management roles that include handling, sharing, and analyzing various information.
- Decisional:These are management roles that consist of decision-making.
Popular Topics in Management
The news in management revolve mostly around the management skills and the levels in which managers operate . Some important management skills include:
- Political:These management skills are used to build a power base and establish various connections.
- Conceptual:These management skills are used to analyze a number of complex situations.
- Interpersonal:These management skills involve communicating, motivating, mentoring as well as delegating.
- Diagnostic:These management skills include the ability to visualize the most appropriate response to a specific situation.
- Technical:These management skills include expertise or skills in ones particular functional area.
The different levels of management are:
- Top-level managers : The top level managers include the board of directors (including non-executive directors/executive directors), the president, the vice-president, the CEOsand other members of the C-level executives. They are responsible for overseeing as well as controlling the entire organization. They are set at the top and have the task of developing strategic plans, company policies etc.
- Middle-level managers: Middle level managers includedepartment managers, branch managers and general managers. Some of their functions are:
- To design/ implement the effective group as well as inter-group work and information systems.
- To define as well as monitor group-level performance indicators.
- To detect as well as resolve problems within and among work groups.
- To design and put into action reward systems that support the cooperative behavior.
- First-level managers: : First level managers include supervisors, section leads, foremen, etc. They are set as role models for employees that give:
- Basic supervision.
- Career planning.
- Performance feedback.
Top Management Universities across globe:
Journals are the best published ones across top class universities in the world. The best management colleges are as follows:
- London Business School
- Wharton Business school, University of Pennsylvania
- Harvard Business School
- Stanford Graduate School Of Business
- Insead, France / Singapore
- Columbia Business school
- IE Business School, Spain
- MIT Sloan School Of Management
- Booth School of Business, University of Chicago
- Hong Kong UST Business School