The Nature and Functions of
Management
Management
It is a process of planning, organizing,
leading, and controlling resources to
achieve specific objectives.
Main Aspects of Management
1
2
3
Management is a Process
•
•
•
•
P- lanning
O- rganizing
L- eading
C- ontrolling
Management uses Resources
•
•
•
•
People
Money
Materials/machines
Time
Management aims to
achieve Objectives
• SMART objectives in
management
• Perspectives in
management
Process
As a process of identifying the objectives of a task,
assignment, or cause and the corresponding activities
to achieve those objectives
Management is a Process
Moving on to the
next cycle of
POLC
Controlling
Planning
(Starting phase)
Organizing
Leading
Planning
Moving on to
the next cycle
of POLC
Planning
(Starting phase)
Controlling
Organizing
Leading
is defined as the process of identifying the
objectives of a task, assignment, or cause and
theWork
corresponding
to achieve
plan is aactivities
visual planning
tool those
in a form of a
objectives.
summary table which usually contains the
following information:
o The Objectives
o The Corresponding activities to accomplish
the given objectives
o The Persons responsible for doing the
identified activities
o The timeframe to accomplish each of the
activities
o The resources needed
Management is a Process
Moving on to the
next cycle of
POLC
Controlling
Planning
(Starting phase)
Organizing
Leading
Organizing
Is defined as gathering the resources required to
carry out the activities and allocating the effective
Moving on to
the next cycle
of POLC
Planning
and efficient use of those resources.
(Starting phase)
Controlling
Organizing
Leading
o Effectiveness- means doing the right things. You
are effective when you have achieved your goal
and have produced the intended results.
o Efficiency- means doing things right. You are
efficient when you have accomplished your goal
and minimized the cost of waste or used the least
amount of resources.
WRONG
RIGHT
RIGHT
Right thing is doing on
wrong way
Right thing is doing on
right way
WRONG
EFFICIENCY (HOW TO DO)
EFFECTIVENESS (WHAT TO DO)
Wrong thing is doing on
wrong way
Wrong thing is doing on
right way
Effectiveness and Efficiency Matrix
Management is a Process
Moving on to the
next cycle of
POLC
Controlling
Planning
(Starting phase)
Organizing
Leading
Leading
o Influencing other people to perform the way you
Moving on to
the next cycle
of POLC
Planning
(Starting phase)
wish them to;
o Directing other people to achieve the desired
objectives;
Controlling
Organizing
Leading
o Coordinating the proper implementation;
o Communicating effectively across various groups;
and
o Motivating individuals to perform their best.
Management is a Process
Moving on to the
next cycle of
POLC
Controlling
Planning
(Starting phase)
Organizing
Leading
Controlling
Moving on to
the next cycle
of POLC
Planning
(Starting phase)
Controlling
Organizing
Leading
Is defined as monitoring and evaluation of activities
undertaken in relation to the stated objectives. It involves
the following:
o Identifying the gap (variance) between what was
planned and what was accomplished in terms of
quantity and quality of work;
o Determining the main cause of problems encountered
during implementation;
o Findings those problems from recurring
o Seeking new ways to improve how things will be done
in the future.
Resources
It pertain to:
o
o
o
o
o
o
o
o
People
Time
Money
Machine
Equipment
Building/Land
Technology
Information & Communication
system
o Material and nonmaterial things
Objectives
Management aims to achieve Objectives. In setting management
objectives you must take into account five important guides:
(SMART)
S pecific
M easurable
A ttainable
R ealis tic
SMART
Specific- The objectives should be in a form of sufficient detail such as in terms
of quantity or quality.
Measurable- The objectives can be assessed and verified through objective
performance indicators.
Attainable- The objectives can be achieved by findings your own ways or
Strategies
Realistic- The objectives can be accomplished given the current and planned
level of resources that you have.
Time-bound- the objectives can be accomplished within a definite time period.
PERSPECTIVES:
o Investment Perspective- pertains to deriving an expected economic return or
material benefit from a given management activity or business project.
o Ethical Perspective- pertains to examining whether a desired objective is
morally right or wrong.
o Individual fulfilment Perspective- looks at how an organization seeks to
satisfy the needs of employees and develop their full capabilities.
MAINSTREAM PERSPECTIVES
Focuses on the traditional,
materialist, and individualistic
view of management, such
that maximizing profitability,
productivity and competitiveness.
vs.
MULTISTREAM PERSPECTIVE
Focuses on a balance view of
management by taking into account
the multiple forms of well-being for
multiples stakeholders.
10 minutes review for Quiz….
¼ yellowpaper, 15 items
Keep silent
ASSIGNMENT: (in 1 whole Yellowpaper)
Search for the following :
1. Definition of Organization
2. Types of Organization and purpose
3. Forms of business organizations
4. Nature of Organization
Note: Be ready for the Recitation next meeting--