Introduction to Principles of Managment
Chapter 1
Management is the art of getting things done through the effort of other people
while the
Principles of Management are the activities that plan, organize, and control the operations of the basic elements of [people], materials, machines, methods, money and markets, providing direction and coordination, and giving leadership to human efforts, so as to achieve the sought objectives of the enterprise.
Managers are required in all the activities of organizations such as budgeting, designing, selling, creating, financing, accounting, and artistic presentation.
Everyone employed in an organization is affected by management principles, processes, policies, and practices as they are either a manager or a subordinate to a manager, and usually they are both.
Empowerment: the process of enabling or authorizing an individual to think, behave, take action, and control work and decision making in autonomous ways.
(Click on the arrows at the sides of the presentation)
Leadership is the social and informal source of influence that you use to inspire action taken by others.
Leaders use strategy, strategic management, entrepreneurship, and entrepreneurs to reach goals.
(Try the activity below to see if you understand the definitions associated with leadership)
A manager's primary challenge is to solve problems creatively.
While drawing from a variety of academic disciplines, and to help managers respond to the challenge of creative problem solving, principles of management have long been categorized into the four major functions of planning, organizing, leading, and controlling (the P-O-L-C framework)
Planning is the function of management that involves setting objectives and determining a course of action for achieving those objectives.
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Organizing is the function of management that involves developing an organizational structure and allocating human resources to ensure the accomplishment of objectives.
(Click on the arrows at the sides of the presentation)
Leading involves the social and informal sources of influence that inspires the action taken by others.
To become effective at leading, managers must first understand their subordinates' personalities, values, attitudes, and emotions.
(Click on the arrows at the sides of the presentation)
Controlling involves ensuring that performance does not deviate from standards.
(Click on the arrows at the sides of the presentation)
Performance is the execution of an action and something accomplished.
Triple Bottom Line: the mesurent of business performance along social, environmental, and economic dimensions
In the business world, Social and Environmental Performance is referred to as Corporate Social Responsibility (CSR)
Corporate Social Responsibility (CSR) is a concept whereby organizations consider the interests of society by t taking responsibility for the impact of their activities on customers, suppliers, employees, shareholders, communities, and the environment in all aspects of their operations.
This obligation is seen to extend beyond the statutory obligation to comply with legislation and sees organizations voluntarily taking further steps to improve the quality of life for employees and their families, as well as for the local community and society at large.
Individual-level Performance
draws upon those things that you have to do in your job, or in-role performance, and those things that add value but which aren't part of your formal job description.
Management researchers identified 30 potentially different forms of OCBs, which they conveniently collapsed into 7 common themes.
(Click on the different themes for more information)
A manager needs to understand the compatibility of individual and group performance, typically with respect to goals and incentives.