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INTRODUCTION TO MANAGEMENT

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INTRODUCTION TO MANAGEMENT

INTRODUCTION TO MANAGEMENT

Introduction

Management is a crucial part of running an organisation .Here in this study we look at the basic concepts and principles of management of an organisation, its functions within the organisation. We also take a look at some external factors that influence the management and the challenges that it faces.

Basic concepts, principles and theories of Management

 

An organisation may implement a specific type or a combination of multiple management theories according to their specific needs. Some of the most commonly used theories are as follows:

Contingency Theory : Organisation that make use of this theory makes sure that the manager makes decisions according to the situation at hand .According to Casterline & Snyder (2014), They take an on the fly approach rather than sticking to a particular plan.

Systems Theory: Organisations that use this theory does a specific job in a specific order. They divide their workforce into multiple systems that does a specific part of a work. The systems work together in collaboration to reach the collaborative goal.

Chaos Theory: Organisations that follow the chaos theory recognise the constant change in factors that influence internal and external structure of the organisation. Instead of trying to control these changes, these organisations try to adapt to the changes by increasing the complexity and structure of the organisation.

Modern management systems follow 14 fundamental principles imposed by Henri Fayol as a guideline. Following is a brief description of some of these principles.

Division of work: Work is divided to specific workgroups specialised in different areas of expertise.

Authority and responsibility: An organisation’s management has the authority to give orders to the workforce in order to get things done.

Discipline: Discipline and obedience is necessary to keep a good conduct .

Unity of Command: Multiple managers must have unity in their commands to avoid confusion within the workgroup.

Unity of Direction: In an organisation, multiple employees doing same activities can have a common objective. These employees can be categorised in a group or a team. A specific team needs to follow a specific plan of action to get the expected results.

Subordination of individual interests: As proposed by Dengue (2017), Personal interests are subordinate to the interests and ethics of an organisation.

Basic Management Functions

An organisation has four basic management functions, which are:

Planning: According to Anderson et al. (2015), the managers of an organisation must plan the future goals and visions of an organisation. They should be aware of the challenges that the organisation might face and how to overcome them. They have to create a roadmap for the organisation and make sure the employees stick to the guidelines.

Organising: Managers organise the workload and the workforce into specific categories and assign different teams to different work field according to their skill. They will also produce a structured plan of action to achieve a certain goal.

Leading: A manager must be influential and convincing. According to Geppert, Matten & Williams (2016), an influential manager can change the perspective of the employees keeping their morale high, thus increasing productivity. A strong leader ensures that the employees follow orders and disputes are resolved quickly.

Controlling: Controlling function in management involves identification of deviations from standard code of conduct of an organisation and to take corrective actions. Controlling plays a major part in deciding the remuneration of the employees by analysing their work. It also includes measuring requirements needed to achieve a given goal and the fulfilment of that goal.

Effects of external environmental factors on managerial decisions

To ensure the overall productivity and growth of an organisation the management must consider some external factors that are:

Political: The political factors include foreign trade policies and political stability among others. The management of an organisation deals with the political legislations by adjusting their internal policies accordingly.

Economy: Market fluctuations cause the price of goods to rise and fall. National currency values can also be an influencing factor for multinational organisations. The management of such organisations controls the turnover and calculates appropriate expenditures.

Social: Social factors mainly deal with the social environment of the market. The managerial team leverages the variables like trends, population analytics to ensure high productivity.

Reference List

Books

Anderson, D. R., Sweeney, D. J., Williams, T. A., Camm, J. D., & Cochran, J. J. (2015). An introduction to management science: quantitative approaches to decision making. Boston: Cengage learning.

Geppert, M., Matten, D., & Williams, K. (Eds.). (2016). Challenges for European management in a global context: Experiences from Britain and Germany. Berlin: Springer.

Journals

Cappelli, P., & Keller, J. R. (2014). Talent management: Conceptual approaches and practical challenges. Annu. Rev. Organ. Psychol. Organ. Behav., 1(1), 305-331.

Casterline, J., & Snyder, J. R. (2014). Principles of Management. In Clinical Laboratory Management, Second Edition (pp. 3-22). American Society of Microbiology.

Dengue, C. (2017). Principles of Management. Evidence-Based Critical Care: A Case Study Approach, 513.

Karadag, H. (2015). Financial management challenges in small and medium-sized enterprises: A strategic management approach. Emerging Markets Journal, 5(1), 26.



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