Fundamentals of Management

HatedNation By HatedNation, 20th Oct 2010 | Follow this author | RSS Feed | Short URL http://nut.bz/fxy2f-eo/
Posted in Wikinut>Jobs>Management

A quick look at some of the fundamentals of management, and how they affect a business

The Main Functions of Management


Internal structure is an important part of any business. Successfully hiring managers and employees that are both skilled and efficient will keep business functioning at a high level, and reduce wasted time and resources. Internal structure alone is not enough, the people you have in the organization have to not only be qualified, but understand the functions of their jobs as well.
Understanding the need to define the roles of management is just as important as having good structure. As a business owner, the responsibility to structure managerial role is an important part of a smooth operation.

The Planning aspect of Management

The first responsibility of your managers is to be able to plan. This includes all aspects of the business, from hiring and human resources activities to everyday operations and production. Planning for the future implies setting goals and working to achieve those goals the best way possible. Having both short and long term business goals is a good idea to keep track of how the business is coming along and helps to give the business direction. This helps to identify where the business stands and how to get to where you want it to go. Then you can reassess the steps needed to get there.
Planning is a key aspect of any venture. Having a vision of where the business is going and a mission statement to keep it on track are two successful tips that will help a business achieve its goals. All planning phases should be based upon the goals the business desires to achieve. This gives direction to the business. The basic idea is to set goals, decide how to achieve them and then monitor progress as the goals are being worked towards.
For Example, the goals of any good sporting goods store may include providing equipment, exceeding customer expectations, and keeping a high standard of business that will bring back repeat business and satisfy customers. Each of these goals can be monitored in specific increments to ensure the business is on track. Knowing what the business goals are will allow a good manager to move into strategically planning on how to achieve those goals.

The Organization aspect of Management

The organization function of business has more to do with the actual establishment of internal structure. The focus is on division, coordination, and control of tasks. These will regulate the flow of information within the organization. Organization defines the roles of management, the delegation of authority, and provides the basis for decision making for unforeseen circumstances.
Each the steps mentioned provides a critical link to keeping things running smoothly.
The role of management sets the first staple of the structure, as it defines who will oversee the specific functions of the business. This is the critical first step to establishing internal structure. Defining the roles of management is the foundation on which the internal “chain of command” can be designed from. This will also keep departments or divisions from interfering with each other and causing confusion.
The distinction of departments is where the delegation of authority comes into place. The internal structure will also define who is responsible for which aspects of the business and where they can seek guidance if they are unsure of the requirements of their position or duties. By tying in all these steps, the structure begins to take shape.

The Directing aspect of Management

After the structure of management is defined, the first aspect of each role is directing. Providing direction encompasses making decisions, providing support, maintaining morale and providing regulations and disciplines. The main purpose of directing is to ensure business activities are working smoothly to accomplish the set goals. The higher the management position, the closer that role is to the main goals of the business. This way each manager has their own objectives and can regulate resources adequately.
Managers accomplish their objectives through the productivity of employees in their charge. This channels the ability of managers to actively participate in the working aspect of employee relations. This is the first link where main business goals are met by achieving smaller internal goals, such as meeting sales quotas or improving productivity. These small goals may then be delegated to a supervisor who can work directly with the employees to ensure these aspects are being met properly.
Now we can see how the responsibilities of each employee directly relate to the direction of the company, and how these aspects are managed to keep the company moving in the right direction. This delegation allows higher management positions to focus on the “bigger picture” of the business, and not have to stop what they need to be doing to micro-manage each employee, which would be costly and time consuming and therefore a detriment to the business.

The Controlling aspect of Management

Controlling is the actual monitoring of the company direction. This is the strategic process that defines what direction the business is going and what changes need to be made when things are not going according to plans. The control process is continuous, as long as the company stays in business this process is necessary to maintain control over direction. It can also be used to predict problems, create solutions and avoid downfalls of conducting business. This process alone can make or break a business, due to the fact that timely response to any pitfall may prevent monetary loss to the company.

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Business, Business Owner, Business Study, Businesses, Human Relations, Manage, Management, Manager, Skill, Skills

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Comments

author avatar Dafeenah
7th Mar 2011 (#)

Very informative and helpful for those who have never been in the position of management. Often times the actions of a manager are misunderstood due to this. Thanks for this.

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