Nature and Function of Management PDF

 The Nature and Concept of Management  Objectives: 1. Discuss the nature of management 2.explain the importance and meaning of management 3.differentiate efficiency from effectiveness 4.Identify factors that influence management practices and trend...

 The Nature and Concept of Management  Objectives: 1. Discuss the nature of management 2.explain the importance and meaning of management 3.differentiate efficiency from effectiveness 4.Identify factors that influence management practices and trend Activity: Let’s examine Do you have the potential to become a good manager? Take this quiz to find out. Read each statement and then encircle the corresponding number of your answer. Behavior/Trait Strongly Somew Somew Strongly Disagree hat hat Agree Disagre Agree e 2 4 6 8 1. I often take chances even if I am not certain of the outcome. 4 6 8 2. I enjoy working with others to achieve a common 2 goal. 4 6 8 3. I often tend to have an influence on others. 2 4. I have strongly views about what is right and wrong 2 4 6 8 and can easily convince people to share my views. 4 6 8 5. I inspire confidence in other people 2 4 6 8 6. I provide constructive criticism to people who need 2 them. 4 6 8 7. I make myself available to others. 2 Add your scores for all the statements and then check the table below for an interpretation of your total score. 68-80 points - You are a potential managerial candidate. Keep up the good performance and you can become one of the best managers in the future. 55-67 points - You are a good managerial candidate. You have some of the qualities of a good manager but still have traits and skills that you need to improve on. With determination and practice, you can take the next step to become a good manager. 40 points and below - You are a below-average manageiral candidate. You have one or two traits of a good manager but  Definition of Management Management – comes from the Italian word maneggiare, which means “to handle tools and equipment)”. Maneggiare – derives from the Latin words Management – is the process of coordinating and overseeing the work performance of individuals working together in organizations, so that they Management - is “the art of getting things done through people” By: Mary Parker Foller (1868-1933) – an American social worker, management consultant and Philosopher - “Mother of Modern Management” - To manage is to forecast and to plan, to organize, to command, to coordinate and to control. By: Henri Fayol (1841-1925) – “Father of Principles of Management” - “an art of knowing what to do, when to do and see that it is done in the best and cheapest way” By: Fredireck Taylor (1856-1915) “The Father of Scientific Management” - Founder of “Taylorism” - Is a “ multi-purpose organ that manages the business and manages managers workers and work. (Modern definition) By: Peter Ferdinand Drucker (1909-2005) Management consultant, educator and author of 39 books on management. Management – Is it an ART or a SCIENCE? Management is a Science - it contains a body of knowledge that becomes the organizational framework of many Management – it is considered a science because it evolved from a number of theories that involved extensive studies and experiments. Management is an art – because of the creativity applied in strategies, the innovations used on new Management Function  1. Planning - involves determining the organization’s goals or performance objectives, defining strategic actions that must be done to accomplish them, and developing coordination and integration activities.  2. Organizing - demands assigning tasks, setting aside funds, and bringing harmonious relations among the individuals and work groups or teams in the organization.  3. Staffing - indicate filling in the different job positions in the organization’s structure; the factors that influence this function include: size of the organization, type of jobs, number of individuals to be recruited, and some internal or external pressure.  4. Leading - entails influencing or motivating subordinates to do their best so that they would be able to help the organization’s endeavor to attain their set goals.  5. Controlling - involves evaluating and correcting the performance of the individuals or work groups or teams to ensure that they are all working toward the previously set goals and plans of the organization. Coordination, Efficiency, and Effectiveness: Intrinsic to the Nature of Management Coordination – the harmonious, integrated action of the various parts and processes of an Efficiency – is the ability to maximize output with minimum inputs. Effectiveness – is the capacity to attain an intended objective or result Why is coordination, effectiveness and effeciency are Why is coordination, effectiveness and effeciency are Coordination, effectiveness and effeciency are intrinsic to management because they are necessary to achieve goals that are beyond Factors influencing Management 1. Globalization - refers to the phenomenon of growing interconnectivity and interdependent relations Factors influencing Management 2. Technology - is one of the main driving drive forces of business. Factors influencing Management 2. Technology - is one of the main driving drive forces of business. -new technology have rendered business functions Factors influencing Management Outsourcing - significant phenomenon brought about by technology. - the transfer of an organizational function to a third party. Factors influencing Management 4. Sustainability and Corporate Social Responsibility - sustainability in business means that companies should plan and conduct long-term business operations to ensure minimal negative impact on the Factors influencing Management 4. Sustainability and Corporate Social Responsibility - corporate social responsibility - is defined as the willingness of companies to run their business operations in Factors influencing Management 5. Psychology - an important facet in management since it focuses on developing people management skills and analyzing customer satisfaction. Factors influencing Management 6. Ecosystem - a business ecosystem consist of a group of firms that provide related products and services, that result in Factors influencing Management ex. the collaboration between telecommunication firms, media, and technology to dessiminate information As a student, how will you apply management thank you very much Group Activity: (15 minutes) Make a song about the five functions of management (Choose only one).