Introduction to Functional Areas of Management Unit 1

Introduction to Management

• Large companies have a significant influence on people's lives and nations' economies, and their management requires specific skills.
• Management is essential in both profit and non-profit organizations, including universities.

Definition of Management

• Management is the process of planning, organizing, leading, and controlling resources to achieve organizational goals efficiently.
• Planning involves deliberate consideration of what the business should achieve and creating a plan to reach those objectives.
• Organizing involves developing a framework to deploy people and resources to achieve goals.
• Leading involves motivating and directing employees to achieve plans and goals.
• Controlling involves checking and evaluating results to ensure plans are being met and goals are attained.

Resources in Management

• Human resources (personnel)
• Financial resources
• Physical resources (plant and machinery)
• Information resources (computer systems)

What is Management?

• Management is about human beings and their joint performance.
• Its task is to make people capable of joint performance, making their strengths effective, and their weaknesses irrelevant.
• Management deals with the integration of people in a common venture and is deeply embedded in culture.

Types of Management

• Classified by level:
  • Top Management (Board of Directors, CEO, Managing Director)
  • Middle Management (department heads, implementing policies and plans)
  • Lower/First-line Management (operational management, supervising employees)
• Classified by function:
  • Marketing
  • Human Resource Management
  • Finance
  • Operations
  • Research and Development
  • Purchasing
  • Administrative Management (general management)

Time Spent on Functional Activities

• The amount of time spent on planning, organizing, leading, and controlling differs according to the level of management.
• Top managers spend more time on planning and organizing, while lower managers spend more time on leading and controlling.

The 10 Roles of Managers

• Every manager must perform certain roles and skills, regardless of their specialty or level, to fulfill their responsibilities.

Managerial Skills Required at Different Levels

• Conceptual skills (thinking ability, strategic thinking)
• Interpersonal skills (interacting with people, resolving conflicts, motivating groups)
• Technical skills (specialized skills, performing tasks)
• The importance of each skill varies depending on the level of management.