Management involves coordinating work activities to efficiently achieve organizational goals. Managers strive for effectiveness, or high goal attainment, and efficiency, or minimizing wasted resources. The basic functions of management are planning, organizing, leading, and controlling. While technologies and business environments change, fundamental management principles of defining goals, allocating resources, motivating employees, and monitoring progress remain important. Management occurs at different levels from top executives setting long-term strategy to frontline managers overseeing daily operations. Studying management provides universally applicable concepts for all organizations.
3. Basic Purpose of Management EFFICIENTLY Using resources wisely and in a cost-effective way EFFECTIVELY Making the right decisions and successfully implementing them And
4. Efficiency and Effectiveness in Management Management Strives For: Low resource waste (high efficiency) High goal attainment (high effectiveness) Low Waste High Attainment Resource Usage Efficiency (Means) Goal Attainment Effectiveness (Ends)
11. Management Activities Model of Management Planning Defining goals and establishing action plans Controlling Monitoring activities to ensure that they are achieving results Leading Guiding and motivating all involved parties Organizing Determining what needs to be done, in what order, and by whom Effective Management
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14. Management Levels (typical) SOURCE: Adapted from Thomas V. Bonoma and Joseph C. Lawler, “Chutes and Ladders: Growing the General Manager,” Sloan Management Review (Spring 1989), 27-37.
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18. Distribution of Time per Activity by Organizational Level Source: Adapted from T. A. Mahoney, T. H. Jerdee, and S. J. Carroll, “The Job(s) of Management.” Industrial Relations 4, no. 2 (1965), p. 103.
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