Management Process and Core Management Functions
Overview of the Management Process
Definition: A management process is a system of coordinating work activities and actions so that they are completed efficiently and effectively.
Core Managerial Functions:
Planning
Organizing
Leading
Controlling
Purpose: The management process helps ensure that an organization's goals are met.
The P-O-L-C Management Framework:
Planning Components:
Vision & Mission
Strategizing
Goals & Objectives
Organizing Components:
Organization Design
Culture
Social Networks
Leading Components:
Leadership
Decision Making
Communications
Groups/Teams
Motivation
Controlling Components:
Systems/Processes
Strategic Human Resources
Planning Function
Definition: The planning process is used to develop objectives, develop tasks to meet objectives, determine needed resources, create a timeline, determine tracking and assessment, finalize the plan, and distribute the plan to the team.
Four-Step Planning Process:
Step 1: Set goals
Step 2: Describe the situation
Step 3: Determine incentives/barriers
Step 4: Submit action
Organizing Function and Organizational Structure
Division of Labour:
Organizing essentially consists of establishing a division of labour.
Managers divide work among individuals and groups of individuals.
Managers coordinate the activities of these individuals and groups to extract the best outcome.
Organizational Structure:
Definition: An organizational structure is a hierarchical outline of a company's roles, teams, and employees.
Operational Role: Describes what employees do, whom they report to, and how decisions are made across the business.
Minimum Requirement: At a minimum, an organizational structure should include employees' titles and basic hierarchies.
Leading Function and Leadership Skills
Definition: Leading involves:
Articulating a vision.
Energizing employees.
Inspiring and motivating people using vision, influence, persuasion, and effective communication skills.
Addressing key factors that make a leader admired, such as personality, nature, appearance, management style, or ideas.
Essential Leadership Skills:
Collaborative skills
The ability to understand value
Self-understanding skills
The ability to see the future
Controlling Function and Control Principles
Definition and Purpose:
Controlling is a primary goal-oriented function of management in an organization.
Ensures that activities in an organization are performed as per the plans.
Ensures that an organization's resources are being used effectively and efficiently for the achievement of predetermined goals.
Serves as a process of comparing actual performance with the set standards of the company to ensure activities are performed according to plans, and taking corrective action if they are not.
Principles of Effective Control:
Flexibility:
Refers to an organization's ability to adapt successfully.
To survive, companies must adapt to a competitive business environment and practices in terms of technology, structure, work organization, work relationships, and human resource management all at once.
Accuracy:
Data accuracy refers to error-free records that can be used as a reliable source of information.
Within the data quality framework, data accuracy is the first component/standard to be met.
Punctuality:
Punctuality is a simple concept: it means showing up when you say you will.
Signals care for team members, taking the job seriously, and caring about meeting deadlines.
Focus on Important Things:
People are the most important part of an organization.
Giving employees the right tools to succeed is paramount.
Having a solution that meets the needs of employees and the business at the same time synchronizes their goals and leads to happier, more effective work.
Acceptance by Organizational Members:
Controlled matters must be agreed upon by the members of the organization.
Concrete Example: Setting working hours from 8 am to 4 pm requires everyone to agree to come to work at that time.