basic concepts of management

From there, an appropriate course of action is determined and implemented to attain the company’s goals and objectives. Whatever type of organizational structure is involved, management concepts facilitate strategic and/or tactical objectives. Planning is the foundation pillar of management. ~ Staffing is an important function because it puts the right man in the right job.~ It is an ongoing activity as employees keep leaving and joining the company, they also retire from time to time leaving empty places in various positions.~ Efficiency is a prime focus of this function as managing people is the toughest job there is, everything must be accounted for, leaves, payments, benefits, medical allowances, social security accounting and much more. For any kind of organization to run smoothly, it needs to implement core management concepts. Learning ObjectivesAt the end of the session, the student should be … Specify the range and breadth of the powers given to various managers and supervisors working in different departments. Apart from the above-mentioned concepts, below is a list of some additional concepts. Understanding the communication process and working on areas that need improvement, helps managers become more effective planners. This blog is very important for those who are pursuing their education in marketing or those who are interested in the concepts of marketing. This necessitates that the four management functions – planning, organizing, directing, and controlling be precisely understood. We've created informative articles that you can come back to again and again when you have questions or want to learn more! Effective and efficient management leads to success, which is the attainment of objectives and goals, that an organization sets for itself. The techniques usually used include financial planning and analyses, standard costing, budgetary control, marginal costing, project appraisal, control … The basic concept of TQM are : customers-orientation (both internal and external), never-ending improvement , statistical control of business processes, upstream preventive maintenance, participative management, on going preventive action, cross-functional management and committed leadership and commitment. Use of special techniques and concepts: Management accounting uses special techniques and concepts according to necessity to make accounting data more useful. Of course, for achieving the ultimate goal, creative problem-solving and successful application of all five functions is necessary. google_ad_slot = "6121480386"; Planning requires administration to assess where the company presently is and where it would be in the coming years. Whichever the case, management concepts are almost always an ongoing and continuous operation, with the function of maximizing company objectives and goals. This statement holds true for business organizations as well. //-->. Once the overall goals, objectives, and operational strategy have been set forth, the next function of management is to organize all the resources to implement the organizational plan. A good plan must incorporate these limitations into its structure, to be able to deal with them when the time comes. A good manager understands the communication process, and thus knows how to problem solve and build positive interpersonal relationships. This time frame is an objective in itself and acts as a guideline for fulfillment of the various aspects of the plan. It provides the basic details on how does CRM work and how to use CRM. The “SWOT matrix” can be understood by dividing it’s cells according to what they represent for the organization. Some characteristic features of the directing function are as follows. Good project management is based on having an understanding of basic project management.

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