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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.

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