Not yet registered? Create a OverBlog!

Create my blog

A guide to understanding management concepts

Management is the process of controlling and dealing with people, companies or organisations. Management may sound easy but it requires the understanding of management functions in order to be a successful manager. It also calls for the understanding of concepts of strategic management and project management, among others.

The four functions of management

Any organisation, small or big, has its own goals and objectives which are set during its formation. There are basically four functions of management which help an organisation to run smoothly. They include the planning, organising, directing and controlling function. Planning function
Planning is the foundation of management and involves setting objectives. It determines a course of action for achieving these objectives. Planning calls for the understanding of the environmental conditions affecting the organisation to help to make wise decisions. These conditions include the economy, customers and competitors. Organising function
Organising involves developing an organisational structure and determining the human resources needed to ensure the achievement of objectives. The structure is the outline within which effort is harmonised. The organisational chart represents the structure and shows the chain of command in the organisation. Management must also effectively and efficiently organise its resources to help to achieve pre-determined goals and objectives. Directing function Directing is also referred to as leading and helps management to control and oversee the actions of the staff. Company goals, personal and career goals are accomplished through effective directing. To achieve effective directing, managers need to motivate subordinates, effectively use power and communicate effectively. Control function
Control basically ensures that performance does not deviate from set standards, based on objectives. It includes three steps namely establishing performance standards, comparing actual performance against set standards and taking corrective actions where needed. The discipline of management is not complete without the basic understanding of the concepts below: Strategic management concepts
Strategic management concept is the analysis of the factors associated with competitors, customers and the organisation itself, which is actually the analysis of both the internal and external environment. Strategic management is an on-going process and reassesses each strategy regularly, to determine its implementation, its success or if the strategy needs replacement. Project management concepts
This is a body of knowledge concerned with organising, planning, securing and effective management of resources to achieve organisational goals. The challenge here is to optimise the allocation and to ensure the integration of inputs needed to meet pre-determined objectives.

Conclusion

Generally, effective and efficient management leads to success. Understanding management concepts helps to attain the objectives and goals of the organisation. Of course, to achieve the ultimate goal, the management needs to work creatively in all management concepts to solve the problems.

Same category articles Business development

How to make business cards

How to make business cards

For a business to be a successful, one of the requirements is usually advertising or marketing. One way to highlight your business may be is through business cards. It is always a good idea to have a supply of these with you wherever you may be - that way you can easily market your business effortlessly. Here are two methods to design your own business cards at very little cost to you or your business.
How to get free business grants

How to get free business grants

Business grants are available from the government, the European Union, local authorities, and charitable organisations. Grants are different from start-up or expansion loans, as they are offered to businesses for free and usually do not need to be repaid. Understandably then, obtaining a grant is difficult and businesses will often have to meet very specific criteria to be considered.
Why buy an online business for sale?

Why buy an online business for sale?

Buying an online business that is for sale can be a profitable move if you pick the right business. There are many types of online business to choose from including information websites in every niche imaginable, drop-ship website, a service business or a turnkey business. Any of these business types can provide you with a profitable business that is already up and running.
A guide to starting a coffee shop

A guide to starting a coffee shop

Originally grown in the Kaffa region of Ethiopia, coffee was transported across the African continent by slave traders and brought to Europe in 1616 by the Dutch. Today, coffee is one of the most popular western drink products. Those who are interested in the coffee business will benefit from the guide to starting a coffee shop found in this article.