Principles of Management

• Key focus is on how management matters, the tasks and skills required, and general perspectives
• Well-managed organizations are more competitive

What is an organisation?

• An organization is an arrangement of people in a specific structure to achieve a specific purpose
• Organizations have a distinct purpose
• Organizations are composed of people
• Organizations develop a structure so members can work together

What is management?

• Management involves getting things done through people
• Management coordinates work activities through planning, organizing, activating (leading), and control
• Activities are completed efficiently and effectively, in line with organizational goals
• Coordinating work activities separates managerial from non-managerial positions

Important Concepts in management

• Efficiency and effectiveness are very important

Key management functions

• Basic functions are planning, organizing, activating, and control
• Additional functions are decision-making, delegation, communication, motivation, disciplining, and coordination

The Management Process

• The management process involves transforming inputs into outputs
• Inputs include resources like human, financial, and material
• Management tasks transform inputs
• Outputs are products and services produced efficiently and effectively

Who is a Manager?

• A manager ensures the organization achieves its goals
• A manager coordinates and integrates employee activities to achieve the organization's vision and goals
• A good manager surrounds themselves with competent people to achieve goals
• First-line managers supervise non-managerial employees involved in production
• Middle managers manage first-line managers
• Top managers make organization-wide decisions and establish goals

Management Roles Identified By Henry Mintzberg

• Managers perform ten different roles classified into three sets
• Interpersonal roles involve ceremonial and symbolic duties like figurehead, leader, and liaison
• Informational roles relate to collecting and transferring information, including being a monitor, disseminator, and spokesperson
• Decisional roles deal with decision-making and choices e.g., entrepreneur, disturbance handler, resource allocator, and negotiator.

Management Skills

• Managers need basic skills applicable at all levels for effective management
• Technical skills involve knowledge and proficiency in a specific field
• Interpersonal skills enable managers to work well with others, motivate, communicate, and delegate
• Conceptual skills enable the ability to think, conceptualize, and analyze complex situations

Other Important skills

• Communication skills relate to interpersonal skills
• Ability to work in a team relates to interpersonal skills
• Good time management involves conceptual and technical skills
• Problem-solving abilities relate to conceptual skills and technical knowledge
• Conflict-solving abilities relates to interpersonal skills

Challenges for Managers

• Building a competitive advantage, maintaining ethical and social responsibility, managing a diverse workforce, and handling a global environment
• Building a competitive advantage involves cost savings, differentiating quality, and innovating with responsiveness
• Directly link cost savings to efficiency
• Ethical behavior involves maintaining standards and “doing the right thing” consistently
• Managing a diverse workforce requires building a supportive organizational culture, and implementing inclusive policies
• Global environment, managers must learn daily to keep up with change and guide a culture of learning