Business Management

Page 1 of 4

Business Management

By | December 2012
Page 1 of 4
Business Management
The world of business has undergone radical and dramatic changes in the last decade, changes that present extraordinary challenges for the contemporary manager. A manager is an organizational member who is responsible for planning, organizing, leading, and controlling the activities of the organization so that the goals can be achieved. According to a widely referenced study by Henry Mintzberg, managers serve three primary roles: interpersonal, informational, and decision-making. Management is process of administrating and coordinating resources effectively and efficiently in an effort to achieve the goals of the organization. The concept of management within an organization typically occurs in an organizational setting. Traditional managers discharge their responsibilities through planning, organizing, leading and controlling or coordinating their employees (Newens 1). Organizations compromise a group of individuals who work together toward common goals. The concept of management within an organization can also be looked upon as a context as well as a process. Managers at all levels of the organizational hierarchy must engage in planning. Planning involves estimating future conditions and circumstances and, based on these estimations, making decisions about what work is to be done by the manager and all of those for whom she or he is responsible (Black 21). In planning the top-level manager establishes the overall goals and strategies for the organization. While on the other hand the other managers in the hierarchy develop operational plans for their work groups, which have a responsibility to help the organization. Organization planning is a natural complement to the personnel responsibility for career development, management appraisals and salary structures (Cadbury 24). All the managers must develop goals that are supportive in the overall strategy of the organization. In organizing, responsibilities must be assigned to specific...