Chapter 1: Basic Principles of Management
No description yet. This curated deck is ready for daily study.
Card preview (24)
in all business and organizational activities is the act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively.
Management
it is the coordination and administration of task to achieve a certain goal specifically organizational goals.
Management
comprises planning, organizing, staffing, leading or directing, and controlling an organization or effort for the purpose of accomplishing a goal.
Management
Why management is necessary?
Because its POSDCoN
Basic Management Functions
-Planning -Organizing -Staffing -Directing -Controlling -Co-ordination
Why management is necesssary?
to ensure that tasks are performed with communication, cooperation, synchronization and understanding between teams.
is a social process involving responsibility for economical and effective planning & regulation of operation of an enterprise in the fulfillment of given purposes.
Management
involves the establishment of business goals and objectives, and determining the ways in which they will be achieved.
Planning
Planning involves…
establishing your vision, mission, strategies, goals, objectives, and action plans
what the organization wants as a whole and general
Vision
general statement of how to achieve your vision
Mission
series of ways of using the mission to achieve the vision.
Strategies
are your statements of what needs to be accomplish to implement your strategies.
Goals
are specific actions and timelines for achieving your goal
Objectives
specific actions that need to be taken for reaching the milestones within the timeline of your objectives
Action Plans
the managerial function of acquiring, deploying, and retaining a workforce of sufficient quantity and quality to create positive impact on the organization’s effectiveness.
Staffing
Staffing includes…
Recruiting, Selecting, Hiring, Training, and Retraining.
a process where potential applicants are searched for and then encourage to apply for an actual or anticipated vacancy
Recruiting
a process of hiring employees among the short-listed candidates and provided them a job in the organization
Selecting
a process of reviewing applications that comes after recruitment and selection
Hiring
involves improving the effectives of employees in the organization and the individuals and teams within them.
Training and Development
teaching new skills to employees so as able to do a different job
Re-training
art of learning, unlearning and re-learning
Re-training
It includes developing productive relationship amongst physical, financial and human resources for achievement of organizational goals
Organizing