The process of working with various resources to achieve organizational objectives is known as management.
To be effective is to accomplish organizational objectives. To be efficient is to accomplish objectives with reduce waste of resources which means that to make best possible utilization of time, money, people and materials.
Read Also: Define Human Resource Management
On both criteria, some managers fail or concentrate on one at the expense of other. The best managers keep a clear concentration on both the efficiency and effectiveness.
Functions of Management
Following are the functions of management which are properly executed by managers through management process.
Planning
Planning is specifying the objectives to be accomplished and making decisions in advance the suitable activities taken to accomplish those objectives.
It contain examining existing situations, expecting the future, setting goals, making decisions about the kinds of activities that business organization pursue in, selecting business & corporate strategies and figure out the resources required to accomplish the objectives of organization. The organization’s strategy is the outcome of the planning process.
Organizing
The coordinating & assembling the financial, human, informational, physical and other resources required to accomplish the objectives is known as organizing.
Activities contain specifying job responsibilities, attracting people to the organization, categorizing jobs into work units, allocating & marshalling resources and making situations that things and people work together to accomplish highest success. Organizational structure is the outcome of organizing.
Leading
Exciting the people to become enhanced performers is known as leading. This contains motivating, directing and communicating with employees, in groups and individually.
Close day-to-day contact with people is contained in leading along with assisting to inspire & lead people to accomplish organizational & team objectives.
Leading happens in departments, divisions, teams and at the tops of the entire organization. Enhanced level of commitment & motivation is the outcome of leading.
Controlling
The success is not guaranteed by solid organization, comprehensive plans and outstanding leaders. The progress is monitored and suitable changes are made in the controlling function.
Mostly managers observe that things are not properly working according to their implemented plans. The controlling functions assure that objectives are accomplished.
It makes adjustments as required. Performance standards are set in specific controlling activities, those points out progress toward long-term objectives. Performance data is compared against standards in order to identify performance problems.
Actions are taken to rectify problems. Information systems, budgeting, disciplinary actions and cost cutting are simply some of tools of control. Close attention is paid by successful organizations, either small or large, to how properly they are performing.
When problems arise, they take fast action and make changes as required. The proper measurement of performance and regulation of effectiveness and efficiency is the outcome of controlling.
Types of Business Managers
The member of the organization who takes part in the management process though organizing, planning, controlling and leading the resources of the organization is known as business manager. Let’s check below the types of business managers.
Strategic Manager
The senior executives of the organization are strategic managers and they are responsible for its overall management. Main actions contain establishing the objectives and plans of the business organization.
Long term problems are typically concentrated by strategic managers along with the emphasize growth, survival and overall effectiveness of the organization.
Tactical Managers
The general goals and plans established by strategic managers are translated into objectives that are more specific & activities, and tactical managers are responsible for that. The coordination of resources and shorter time horizon are included in these decisions or tactics.
Because of the fact that in large organizations tactical managers lie in between strategic managers and operational managers, therefore, they are also called middle managers.
Recently, effective middle managers are known as “working leaders”. They concentrated on linking with other people and on accomplishing results.
Decisions are not simply made by them, instead they give orders, hold for others to produce and then measure the consequences. They perform hard work themselves, get dirty, solve issues and make value.
Operational Managers
The lower-level managers who supervise the operations of the organization are known as operational managers. Titles are given to these managers like sales manager or supervisor.
With non-management employees they are directly involved by implementing particular plans established with tactical managers.
Because of the fact that operational managers are the connection between management and non-management personnel, this role is critical in the organization.
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