BLOG # 6 : INTRODUCTION TO MANAGEMENT

Hi Friends!!!!

Greetings from CAP CLASSES.

Hope you are doing well. What’s more exciting than a Christmas Eve? I know you guys will be busy in celebrating Christmas and New Year. Just one week to go and then 2018 will be History. I wish you Merry Christmas and a very Happy New Year. I sincerely hope 2019 will be a great year ahead for all of us giving health, wealth, happiness and the success we much deserve.

The topic we are going to discuss today is "Introduction to Management". This is a discipline, a specialisation and a branch of study. Due to the significance of the topic, it is introduced in the curriculum of many schools & colleges across the globe.

[Do you know? Many engineers across the globe, even when they have a degree from one of the most prestigious colleges prefer doing a degree or masters or certification or at least a diploma in Management for better career opportunities? It’s the fact].

Once you finish your graduation and want to pursue Management, it will be your life and career.

PART 1: WHAT IS MANAGEMENT?

Imagine, you went to a restaurant and you are celebrating your birthday with a bunch of your friends. You are on the top of clouds and enjoying party with all your senses. You and your friends ordered many dishes of choice and eager to eat. Lot of fun, love, cohesiveness & togetherness and what else can be a better situation to enjoy.

Finally, the food you have ordered is on the table. It’s served to you and to your disappointment it tasted yucky. What will you do? What is your immediate response? 

If you are waiting in a bank for about an hour but your Demand Draft is not yet handed over to you, what will you do?

You registered a complaint and the grievance is not addressed to your satisfaction by the customer care executive. What will you do?

For all the above questions, the answer is same. 

"YOU WANT TO SPEAK WITH THE MANAGER"

Isn't it? If your answer is yes, you found the meaning of management; almost. 

In general terms, Manager is the person who exercises the authority and owns the responsibility for carrying on some or other business activities in an entity. In other words, if you are the manager, you are the person responsible for the success or failure of a business / division / department / your domain of activity. [Indirectly, I told you that there are three levels of management. We will discuss it in detail later]

PART 2: DEFINITION

There are hundreds of definitions for Management. But the simplest and best among them are 

1. Management is the art (process) of getting things done by (through) others (Mary Parker Follet)
2. Management is the process of dealing with or controlling people or things. 
3. To Manage is to forecast and to plan, to organise, to command, to coordinate and to control (Henry Fayol)
4. Peter F Drucker defined as, “Management is an organ; organs can be described and defined only through their functions”

PART 3: MEANING - DIFFERENT POINTS OF VIEW:

The term Management can be understood from two different points of view. They are

• Management (as a noun): Refers to a person or group of persons who Manage a business or an activity.
• Management (as a verb or a process): Refers to the functions of Management.

Remember the Functions of Management with the memory code {P O S D C A R B} [Memory codes won’t have meaning. So don’t Google it. Just remember. it’s enough]

P  - Planning

O - Organising

S  - Staffing

D - Directing

C - Controlling 

A - Administering

R - Reporting

B - Budgeting.

PART 4: WHAT DO THE MANAGERS DO?

In simple terms, every organisation has a set of objectives. Managers work to achieve them.

Managers manage all the resources namely Men, Money, Machines, Materials, Methods and Markets. (Remember! Optimum utilization of resources)

 It is pertinent and interesting to know the following: (You may say, they are characteristics or features of management)

1. Management is a continuous process.
2. It is both a science and an art (it uses standardized procedures and skills)
3. It is multidisciplinary & multidimensional in nature.
4. It is always result / goal oriented.
5. It is all pervasive.
6. In many cases it is an intangible force.
7. It is dynamic and ever changing in nature.
8. Uses professional approach and situational in nature.
9. It is a group activity.

PART 5: CHARACTERISTICS OF EFFECTIVE MANAGERS

Whether you manage a team of 2 or 200, you have to have the following characteristics to be a Good Manager.

1. Leadership (Create a world of WE in the place of I; inspire your team. Not only get the work done through them but also work along with them)
2.  Experience (Anything can be bought, but many things can’t be! You can buy many things but can’t buy experience. That’s why companies HIRE experience)
3. Communication (Remember, managers won’t work with things, tools and machines. They work with people. Communication is the life)
4. Knowledge (People respect the knowledgeable. To persuade them, first convince them with your knowledge)
5. Time Management (the most spoken but least practiced trait. Have it. Your value increases)
6. Reliability (Subordinates love trustworthy and reliable boss. Be one)
7. Delegation (If you keep on doing things, you can’t be a manager. Do less, Get more done)
8. Respect for employees (As simple as, give respect and take respect)

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