Hey! Guyz Asalam o Alaikum, How are you? I hope you all would be fine reading this post, Today I am going to post Lecture on Importance Management and it's lecture one which is taught by Sir, Abdul Salam Malah.
Basic Concepts
Importance Of Management
In 1981, Ford's sales were falling. Between 1979 and 1982, Ford had incurred $3 billion in losses.
They Sought Help from Deming.
To Ford's surprise, Deming talked not about quality, but about management. He told Ford that management actions were responsible for 85 percent of all problems in developing better cars.
By 1986, Ford had become the most profitable American auto company
Basic Concepts
Management Vs Administration
Efficiency Vs Effectiveness
Management Key Concepts:
Organizations: It is deliberate arrangement of People working together and coordinating their actions to achieve specific goals.
Goal: A desired future condition that the organisation seeks to achieve.
Management:
The process of using organizational resources to achieve the organization’s goals by...
• Planning, Organizing, Leading, and Controlling
Additional Key Concepts
Resources are organizational assets and include:
• People, • Machinery, • Raw materials, • Information, skills, • Financial capital.
Manager:
Managers are the people responsible for supervising the use of an organization’s resources to meet its goals.
Organizational Performance
Efficiency:
A measure of how well resources are used to achieve a goal. Usually, managers must try to minimize the input of resources to attain the same goal.
Effectiveness:
A measure of the appropriateness ofthe goals chosen (are these the right goals?), and the degree to which they are achieved. Organizations are more effective when managers choose the correct goals and then achieve them.
Managerial Functions:
Henri Fayol was the first to describe the four managerial functions when he was the CEO of a large mining company in the later 1800’s.
Four Functions of Management
- Planning
- Organizing
- Leading
- Controlling
1. Planning:
Planning is the process used by managers to identify and select appropriate goals and courses of action for an organization.
These are 3 steps for good planning :
1. Which goals should be pursued?
2. How should the goal be attained?
3. How should resources be allocated?
The planning function determines how effective and efficient the organization is and determines the strategy of the organization.
These are 3 steps for good planning :
1. Which goals should be pursued?
2. How should the goal be attained?
3. How should resources be allocated?
The planning function determines how effective and efficient the organization is and determines the strategy of the organization.
2. Organizing:
In organizing, managers create the structure of working relationships between organizational members that best allows them to work together and achieve goals.
Managers will group people into departments according to the tasks performed.
This structure coordinates and motivates employees so that they work together to achieve goals
3. Leading:
In leading, managers determine direction, state a clear vision for employees to follow, and help employees understand the role they play in attaining goals.
Leadership involves a manager using power, influence, vision, persuasion, and communication skills.
4. Controlling:
In controlling, managers evaluate how well the organization is achieving its goals and takes corrective action to improve performance.
The outcome of the controlling function is the accurate measurement of performance and regulation of efficiency and effectiveness.
Management Level
First-line Managers:
Responsible for day-to-day operation. They supervise the people performing the activities required to make the good or service.
Middle Managers:
Supervise first-line managers. They are also responsible to find the best way to use departmental resources to achieve goal.
Middle Managers:
Supervise first-line managers. They are also responsible to find the best way to use departmental resources to achieve goal Middle Managers: Supervise first-line managers. They are also responsible to find the best way to use departmental resources to achieve goal
Note: For viewing complete lecture, please download pdf file below.
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