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Evaluation of the Role of Management in Improving Business Performance
What Management is
Management relates to the implementation of decisions and actions
through means by which individuals set and fulfill an organization's
targets through several factors. These elements take into
consideration human, technical and financial resources which are
reliant upon their respective environment. In other words:
"Management is the effective utilization and harmonization of
resources to assist in achieving the defined objectives of an
organization to the utmost efficiency." [1]
The Crux of Management
Within any given business, a manager cannot feasibly strive to
complete work by themselves. So in conjunction to this, a manager must
alternatively resort to empowerment which is the completion of tasks
through the use of delegating tasks to sub-ordinates - giving them the
authority and control to carry out tasks. To complete goals
effectively, a manager must establish how much of a resource is
needed, find them, and manage them so that the task is executed in a
way that will raise performance and standards of the business.
I feel that to raise performance a manager must have the imaginative
aptitude and good coordination of resources. This in turn will steer a
firm one step closer to achieving their aims/objectives. If managers
are able to learn to manage in accordance to whatever threats or
different situations that they are faced with, then I feel that a
manager will be fully equipped and adaptable to handle any given
scenario thus contributing to escalating business performance.
Management Functions
Planning
Al...
... middle of paper ...
... individual motivation profile are also
useful tools in discovering how to motivate certain individuals.
In my view, I feel that managers that utilise tools such as TQM,
Benchmarking, carry out their business management with a Theory Y and
a democratic management style will all contribute significantly in
improving business performance. In specific I feel that a large
proportion of improving business performance is dependant on
motivation so unless a manager is able to motivate and influence their
subordinates they will not improve performance as they will feel
uninspired.
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[1] http:// www.management.com/definition
[2] An Integrated Approach to Business, Bruce R Jewell
[3] http://academic.emporia.edu/smithwil/00fallmg443/eja/young.html
Management is a term that is used in many organizations, the multiple uses of the word is synonymous with the organizations due to the importance it possesses as far as making the organization achieve its goals and objectives. The essence of management in the organization is to bring to or more people to work together with one goal and that is making the organization successful, and that is why it is regarded as the organization of activities and people in a company so as to reach defined objectives. But, for all these to be accomplished, directors and managers of these organizations usually play a vital role in the decision-making process that in turn helps in achieving a good management (Cardy, 2008). Besides, decision making,
A major application for Management by Objectives is setting measurable goals that can be reached in a certain time frame. This helps management to be able to evaluate the talents of individuals and match them to the needs of the organization (Ford, 1980). Employees are set with established feedback times to be evaluated. During this time an employee’s development is discussed and any necessary adjustment to goals are established. This helps to keep all employees better informed and will create more job satisfaction (Drucker, 2001). Every Employee will have input in the goal setting process. This is very effective in building employee recognition. An employee that is involved in the goals that are set would be more exci...
There may be many ways for an organization to become successful but the key to success is not the system of the firm but the character and skills of the individual manager (Maister, 2002). Maister further stated that the character and skill of individual managers who "practice what they preach" and recognize the manager's role in training employees are what's really significant. Management is necessary for a business to function, yet when exploring the role of the manager, it becomes rather complex. Managers must be resourceful; they are individuals who wear many hats. The job of every manager involves what is known as the functions of management. Richard Daft definition of management is "the attainment of organizational goals in an effective and efficient manner through the employment of the four management functions of planning, organizing, leading, and controlling organizational resources" (2005). Daft adds that these functions are goal-directed, interrelated and interdependent.
Personnel policies are directives in terms of policies, which the company formulates to effectively manage its workers. Ideally, the policy outlines the relationship between the employer and the employee. The rules, requirements and other benefits, which the workers accrue, depict the firms’ values and goals in business. A non- profit making business is one such value. The policies will stipulate the hours of work, vacations, and breaks during working time and most importantly, the amount of money the worker is entitled to per annum. The chain of command is a feature too. The personnel policies will cater for the safety and well-being of the worker therefore improving the productivity. An example of personnel policy will include work schedule, hiring procedures, staff orientation, compensation and benefits and payroll information, disciplinary action, grievance and separation, performance appraisal and other supplementary information.
Successful and effective management really depends upon your team management skills and abilities. If a manager can work in a team, then he can also expect a positive response from his sub-ordinates. Manager should lead b...
The ability to organize and execute a strategy is the ultimate challenge in today's business environment. Above and beyond organizing a sound plan of action, management is responsible for motivating jobholders to the direction of the final purpose at an achievable timeline. Being in charge of the directives, management must delegate a chore and a well-organized way to arrive at completion. The focus is on supply, skill, and control of responsibilities as well as the delivery of information w...
Our book defines performing management as what leader do. It is the systematic integration of inorganization’s efforts to achieve its objectives. (Shafritz, 298). In other words, Performance management is an approach to measure and judge the performance of employees in any organization. performance management concept is used to measure both individual and group performance. The importance of performance management for any business is that it will help in monitoring the employees and also helps in improving their efficiency at work. It fills the gap between incapability of employees at work place and expected outcome from those employees. An organization with effective performance management will gain more employee satisfaction and growth.
Developing managerial effectiveness: This includes challenge of developing the relevant skills - such as time management, prioritisation, strategic thinking, decision-making, and getting up to speed with the job - to be more effective at work. Standardization of norms, work processes and output not only result in achieving tangible success such as optimization of resources and maximization of profits but also in intangible success such as greater job satisfaction and goal oriented rather than a process oriented mood. Thus, managerial effectiveness is all about streamlining the processes and ensuring smooth transition of the methodologies for quick emergence of decision giving sufficient time to act on the same. Adhocracy, as popularized by Alvin Toffler and Henry Mintzb...
The real challenge is to combine strong leadership and strong management and use each to balance the other (Gallos,2008). According to Conger (1999), businesses operate in an unstable environment. It changes regularly and forces the entrepreneurs to forecast changes, always prepare their employees to operate in a changing environment. Thus, it is important to have requisite management skills that are essential for as entrepreneur to lead and not just to manage (Agbim, 2013). The managerial skills managers possess can be acquire through education, practical, implementation and experience. Based on the importance of managerial skill in a business, this question has been asked: How does managerial skills impacts a manager’s ability to effectively lead his or her employee? By looking at the roles of a manager, the importance and types of management skills the answer can be found. This topic was chosen because of the field
In the era globalization, the organization should consider about the business performance and also the strategy of planning in the business. Having a good business performance still cannot survive in the company for long time period, if the manager did not have a good strategy to maintain that business. This opinion supports by Wijetunge and Pushpakumari (2013), state that the low level of strategic planning is the poor performance of SME. So that, both of the business performance and strategy of planning having a relationship each other and it shows that the important in the organization or firm to compete to other and to survive in the market global.
Businesses are very hard to maintain, there are ways to accommodate their relative difficulties. By learning the steps to success from the ground up of management, it would be possible. So what is it that makes businesses or management itself so problematic? The main concern about management is their ability to make careful decisions. Without the capability of managing people and the industry itself, there would be no movement with the company. There are many concerns when dealing with decisions that are to be made by managers. These concerns will help the company prioritize of what’s important and what isn’t. Organizing the company, planning objectives, and controlling the surroundings are kits to solve the main concern when making decisions.
Management success is expanding through accomplishment of mission and objectives of the organization. Managers and leaders fail when they do not achieve mission and objectives established. Success and failure are attached in a straight line to the reasons for being in business, mission and objectives. On the other hand, accomplishing mission and objectives is not enough. Success requires equally effectiveness and efficiency. Managers, leaders and supervisor who achieve their mission and objectives are believed to be effective. Efficiency describes the connection between the amount of resources used (the input) and the amount to which objectives were accomplished (the output). However, management is complete only if the manager or team leader has become familiar with the specific situation in which he or she can develop and applied each one of the four function of management.
Performance Management is when “manager’s work proactively with employees, in a systematic was to raise individual and\or group performance under specific headings applicable to their individual jobs and\or team work, having regard to business needs and positive motivational principles.” (Sheridan, 2007). The performance management process has two main purposes that drive
Management is defined as the control process that ensures lapses in performance are marked and corrected through the feedback. Managerial processes are almost closest to the fail-safe and the risk-free. The contribution of the leadership is to encourage, motivate and energies people by fulfilling the essential human needs for accomplishment, self esteem, recognition, a sense of belonging, control over another life and an ability to live up to one’s ideals.
This paper will cover the major four functions dealing with the principles of management. Which are: “Planning, Organizing, Leading and Controlling,” and what each of these functions involves. I have learned that it is very important that a manager understands each one of these managerial components which allows one the power to navigate through numerous procedural, interpersonal, and structural challenges in the process of guiding one 's team to the completion of goals that have been set forth for them. Therefore, “planning, organizing, leading and controlling,” demand that managers become good decision makers.