gw mmm week-2 management functions
TRANSCRIPT
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WEEK-2
FUNCTIONS OF MANAGEMENT
Media Management & Marketing
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FUNCTIONS OF MANAGEMENT
Planning
Organizing
Implementing / DirectingControlling
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FUNCTIONS OF MANAGEMENT
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FUNCTIONS OF MANAGEMENTPLANNING
It is the process of thinking about and organizing the activities required to
achieve a desired goal.
It involves the creation and maintenance of a plan. It deals with who, what, how, when and where of goal achievement.
Managers can outline exactly what is necessary for an organization to
achieve its goals.
It includes both short term and long term thinking.
It involves a consideration of key organizational resources, such as
human resources, monetary resources, raw material resources and
capital resources.
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FUNCTIONS OF MANAGEMENTSTAGES IN PLANNING PROCESS
1. Goal Setting
2. Developing the Planning Premises
3. Reviewing Limitations4. Deciding the Planning Period
5. Formulation of Policies and Strategies
6. Preparing Operating Plans7. Integration of Plans
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FUNCTIONS OF MANAGEMENTADVANTAGES OF PLANNING
It increases the efficiency of an organization.
It reduces the risks involved in modern businessactivities.
It facilitates proper coordination within anorganization.
It aids in organizing all available resources.
It gives right direction to the organization.
It is important to maintain a good control. It helps to achieve objectives of the organization.
It motivates the personnel of an organization.
It encourages managers creativity and innovation.
It also helps in decision making.
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FUNCTIONS OF MANAGEMENTORGANIZING
It involves the delegation of tasks developedduring planning to various individuals and orgroups within the organization.
The assignment of these tasks turns plans intoaction.
Ideally each persons work will contribute to thedepartments process.
All departments will work together to make adivision successful.
All of these organized contributions leadultimately to the success of the entireorganization.
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FUNCTIONS OF MANAGEMENT
CHARACTERISTICS OF ORGANIZATION Specialization and division of work
Orientation towards goals
Composition of individuals and groupsDifferentiated functions
Continuity
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FUNCTIONS OF MANAGEMENTAUTHORITY, RESPONSIBILITY AND ACCOUNTABILITY
Authority is a manager's formal and legitimateright to make decisions, issue orders, andallocate resources to achieve organizationallydesired outcomes.
Responsibility means an employee's duty toperform assigned task or activities. A personwho is given the responsibility should ensurethat he accomplishes the tasks assigned to him
Accountability means that those with authorityand responsibility must report and justify taskoutcomes to those above them in the chain ofcommand.
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FUNCTIONS OF MANAGEMENTTYPES OF AUTHORITY
Line Authority
Functional Authority
Staff Authority
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FUNCTIONS OF MANAGEMENTTYPES OF AUTHORITY
Line Authority
Managers have the formal power to direct and
control immediate subordinates.The superior issues orders and is responsible for
the result and the subordinate obeys and is
responsible only for executing the orderaccording to instructions.
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FUNCTIONS OF MANAGEMENTTYPES OF AUTHORITY
Functional Authority
Functional Authority is where managers have formalpower over a specific subset of activities.
For example the Production Manager may have the lineauthority to decide whether and when a new machineis needed but the controller finance can demand that aCapital Expenditure Proposal must be submitted first,
showing that the investment will have a yield of at leastx%.
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FUNCTIONS OF MANAGEMENTTYPES OF AUTHORITY
Staff Authority
Staff Authority is granted to staff specialists in their areas
of expertise.
It is not a real authority in the sense that a staff manager
does not order or instruct but simply advises,
recommends, and counsels in the staff specialists area
of expertise and is responsible only for the quality ofthe advice.
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FUNCTIONS OF MANAGEMENTIMPLEMENTATION
It is the carrying out, execution, or practice of aplan, a method, or any design for doingsomething.
It is the action that must follow any preliminary
thinking in order for something to actuallyhappen.
It is the process of encouraging appropriatebehavior in organizations by providing an
environment in which people can satisfy groupgoals and their own needs through work and the
work environment.
Usually plans are implemented as planned bymanagers with the help of middle and lower
management. Workers follow the instructions
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FUNCTIONS OF MANAGEMENTCONTROLLING
It helps to check the errors and to take the
corrective action so that deviation from
standards are minimized and stated goals of
the organization are achieved in a desiredmanner.
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FUNCTIONS OF MANAGEMENTCONTROLLING-MODERN CONCEPT
According to modern concepts, control is a
foreseeing action whereas earlier concept of
control was used only when errors were
detected.
Control in modern management means:
Setting standards
Measuring actual performance and
Taking corrective action
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FUNCTIONS OF MANAGEMENTMANAGEMENT CONTROL PROCESS
A typical process for management control includes
1) Actual performance is compared with planned
performance.2) The difference between the two is measured.
3) Causes contributing to the difference areidentified.
4) Corrective action is taken to eliminate orminimize the difference.
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FUNCTIONS OF MANAGEMENTNATURE OF MANAGERIAL WORK
In for profit organizations management has asits primary function to the satisfaction of a range
of stakeholders.
It typically involves making a profit for the
shareholders, creating valued products at areasonable cost for customers, and providing
rewarding employment opportunities foremployees.
In for nonprofit management shareholders votefor the board of directors, and the board then
hires senior management.
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FUNCTIONS OF MANAGEMENTBRANCHES OF MANAGEMENT
1) Human Resource Management
2) Operations / Production Management
3)
Strategic Management4) Marketing Management
5) Financial Management
6) Information Technology Management
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FUNCTIONS OF MANAGEMENTBASIC FUNCTIONS OF MANAGEMENT IN MODERN ERA
1. Planning
2. Organizing
3.
Staffing4. Leading / Directing
5. Controlling / Monitoring
6. Motivation
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FUNCTIONS OF MANAGEMENTBASIC FUNCTIONS OF MANAGEMENT IN MODERN ERA
STAFFINGIt is the process of acquiring, deploying, andretaining a workforce of sufficient quantity and
quality to create positive impacts on the
organizations effectiveness.It includes human resource planning to identify
what the organization requires in terms of thenumbers of employees needed and their
knowledge, skills and abilities in order toeffectively meet job requirements.
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FUNCTIONS OF MANAGEMENTBASIC FUNCTIONS OF MANAGEMENT IN MODERN ERA
Motivation
It is one of the basic functions of managementbecause without motivation, employees
cannot work effectively.If motivation does not take place in anorganization, then employees may not
contribute to the other functions which areusually set by top level management.
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FUNCTIONS OF MANAGEMENT
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