Managing People in Global Economy (Chapter 1)
kinicki & kreitner, 2008, defines management as “the process of working with and through others to achieve organizational objectives in an efficient and ethical manner.” Management comprises: Planning, organizing, resourcing, leading/directing/motivating, and controlling. 1.
Planning is decision making concerning what needs to happen in the future and generating plans for action. In other words planning is the organizational process of creating and maintaining a plan; and the psychological process of thinking about the activities required to create a desired future on some scale. 2.
Organizing is the act of rearranging elements following one or more rules. Elements refer to the simplest or essential parts or principles of which anything consists, or upon which the constitution or fundamental powers of anything are based. 3.
Resourcing encompasses the deployment and manipulation of human resources, financial resources, technological resources, and natural resources. 4.
Leading/directing/motivating the art of getting others to play an effective part in achieving plans, i.e. making individual work willingly in the organization. 5.
Controlling an organization or effort put into the purpose of accomplishing a goal. http://en.wikipedia.org/wiki/Management#Historical_development According to Jeffrey Pfeffer, substantial and rapidly expanding body of evidence exists that suggests strong connection between how firms manage their people and the economic results achieved. Through a review of research from United States and Germany, Pfeffer found that people-centered practices are strongly associated with higher profits and lower employee turnover. Therefore, organizational success depends on good human resource management. Successful companies/organizations are known to use Pfeffer’s seven people-centered practices: 1.
Job security (to eliminate fear of layoffs).
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