Summary Management Theory and Practice

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WHAT IS MANAGEMENT

Its is basically achieving goals through people, manage the organization resources there are basically 3 resources financial resources , human resources and physiological resources.

Functions of management

There are four functions of management planning organizing leading and controlling . Planning is basically defining the goals, answering the questions like what to do? How to do?

In organizing phase managers allocate and manage the recourses, financial, human and physiological resources.

In leading phase managers tell people(employees) how to do, leading is basically influencing people through power, traits, motivation etc In controlling compare the actual performance with the standards, it is basically the monitoring the recourses, alignment of strategic goals and individual goals.

In the phase of organizing, Organization structure will be developed by managers .Organization structure is delegation of work with authority/ certain resources, it’s a layout which can explain who is reporting whom. The degree of formulation shows how much organizational structure is flexible or static. Organization structure depends upon organization strategies.

Manager role/ functions
First is conceptualizing skill through this managers can visions the future, plan the long term ,it gives the direction, inculcate trickle down the information to the middle and lower level management. the can bringing the ideas.

Human skill required because of interaction with people at all levels of management. As well as technical skills are as important as conceptual and human skills because the actual work of manage to lead people, influence them , try to achieve organizational goals efficiently and effectively therefore he/she must understand the technicality of work also in this way chance of fraud and negligence will be decline. In management number of theories are available which gives us knowledge how manager done work. . Every approach or...
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