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Management and it's Functions

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Shayekh Munir
Lecturer at Bangladesh University of Textiles (BUTEX) Past: Padma polyCotton Knit Fabric's Ltd Studied at Bangladesh University of Textiles (BUTEX) Past: Dhaka College and Tejgaon Govt High School Lives in Dhaka, Bangladesh
Shayekh Munir

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Management and it’s Functions

 What is Management?

A set of activities

–planning and decision making, organizing, leading, and controlling

directed at an organization’s resources

–human, financial, physical, and information

with the aim of achieving organizational goals in an efficient and effective manner.

 Management Functions

Management Functions

 Management in Organizations

Basic managerial activities include planning and decision making, organizing. leading, and controlling. Managers engage in these activities to combine human, financial, physical, and information resources efficiently and effectively  and to work toward achieving the goals of the organization.

Management in Organizations

 The Basic Purpose of Management

EFFICIENTLY
 Using resources wisely and in a cost-effective way

And

EFFECTIVELY
 Making the right decisions and successfully implementing them

Effectiveness and Efficiency in Management

 The Management Process

Management involves four basic activities—planning and decision making, organizing, leading, and controlling. Although there is a basic logic for describing these activities in this sequence (as indicated by the solid arrows), most managers engage in more than one activity at a time and often move back and forth between the activities in unpredictable ways (as shown by the dotted arrows).al

Planning and Decision Making:
                 Determining Courses of Action

Organizing:
                 Coordinating Activities and Resources

Leading:
                 Motivating and Managing People

Controlling:
                 Monitoring and Evaluating Activities

Management Process website like this

 Why Study Management?

Value of Studying Management

i) The universality of management

     Good management is needed in all organizations.

ii) The reality of work

      Employees either manage or are managed.

iii) Rewards and challenges of being a manager

       Management offers challenging, exciting and creative opportunities for meaningful and fulfilling work.

       Successful managers receive significant monetary rewards for their efforts.

Universal Need for Management

 Management: Science or Art?

The Science of Management

  Assumes that problems can be approached using rational, logical, objective, and systematic ways.

  Requires the use of technical, diagnostic, and decision-making skills and techniques to solve problems.

Art of Management

  Making decisions and solving problems using a blend of intuition, experience, instinct, and personal insights.

  Using conceptual, communication, interpersonal, and time-management skills to accomplish the tasks associated with managerial activities.

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Shayekh Munir
Lecturer at Bangladesh University of Textiles (BUTEX) Past: Padma polyCotton Knit Fabric's Ltd Studied at Bangladesh University of Textiles (BUTEX) Past: Dhaka College and Tejgaon Govt High School Lives in Dhaka, Bangladesh
Shayekh Munir

Latest posts by Shayekh Munir (see all)

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