MANAGEMENT

Management is the act of directing and controlling a large group of people for the purpose of coordinating and harmonizing the group towards accomplishing a goal beyond the scope of individual effort.

Management encompasses the deployment and manipulation of human resources, financial resources, technological resources, and natural resources.

Managementcan also refer to the person or people who perform the act of management.

Management also has to do with power by position, whereas leadership involves power by influence

Management is just as important as leadership because it covers everything to do with getting things done through people.

Management focuses on the entire organization from both a short and a long-term perspective.

Management is the managerial process of forming a strategic vision, setting objectives, crafting a strategy and then implementing and executing the strategy.

Management goes beyond the organization’s internal operations to include the industry and the general environment. The key emphasis is on issues related to environmental scanning and industry analysis, appraisal of current and future competitors, assessment of core competencies, strategic control and the effective allocation of organizational resources.

Management functions:

• Planning
• Organizing
• Staffing
• Directing
• Coordinating
• Reporting
• Budgeting

Management roles:

• Interpersonal roles Figurehead, Leader, Liaison
• Informational roles Monitor, Disseminator, Spokesperson
• Decisional roles Entrepreneur, Disturbance handler, Resource allocator, Negotiator