Chapter 4 Basic Of Business Management.ppt

Planning setting goals and deciding how best to achieve them

Organising allocating and arranging resources

The Functions Of Management Controlling Regulating activities to reach goals

Leading Influencing others to work towards goals

Management is the achievement of organizational goal through the major functions of planning, organizing, leading and controlling. This definition shows management as an ongoing activity, entailing goal attainment and knowing how to carry out management’s major functions.

to help the members that the motivation in doing their job, the objective can cause feelings of unity, harmony and mutual achievement, which is very important in the work of a cooperative.

-instill the ideas or concepts fundamental to what is trying to achieve by any organization

-make it easier to identify each other, and relate to the environment on the basis of what the organization's existence.

The objective of management foundations

-provide a basis for guidance, direction or reason as advocated by the members in a single organization.

-provide a standard that can help in the regulation of human effort in any one organization

Objective determined by the top managers

Middle managers to provide a plan For achieving the above objectives

Determine the objectives of the planning that must Be performed by subordinate managers Lower level managers to provide a plan for achieving the above objective

Analysis of market opportunities

Result

Objectives of the organization

Control of marketing strategies

Determine the marketing strategy

Developing & implementing marketing plans & policies

I N F O R M A T I O N

Manager values

Planning premises

Manager experience

Long-term planning

Manager planning

Mid-term planning

Short-term planning

Implement of a plan

Review

Re-plan

Market standing

Inovation

Profit requirements

Human resources

Financial resources

Social responsibility Productivity

Physical resources

Flexibility

Costeffectiveness

Rationality

Accuracy Period

Formality

Generalization Confidentiality Relevance

Hotels / restaurants Military / police Medicine / police Media

Retail business Banking and financial services Agriculture

Transport / travel Manufacturing

Process

Goals

Management aims set for civil service type organisations Management aims set for active commercial organisations

*Control service products *Implement legislation *Keep expenditure within funding *Train staff

*Recruit staff *Select contractors *Monitor staff performance

*Increase sales *Recruit staff *Monitor staff performance *Increase production

*Train staff *Select contractors *Improve product designs

Source

Efficient

Responsibility Communication

Study

Important Elements

formulation of goals

action planning

control

Measures •formulating goals and strategic plan period •embodiment of certain objectives for the overall organization •the formation of departmental objectives •formation of work objectives for each individual

the formulation of action plans

implement and take corrective action

review the achievement of review from time to time

overall performance by: - Management training - Compensation - Manpower planning

Management Strategy holding strategy high-level, summary and purpose of the organization's long term objective is equated with long-term strategic planning program strategies organizations concerned with how the basic objectives can be achieved substrategy implement a detailed strategy program strategy program strategies organizations concerned with how the basic objectives can be achieved