Introduction to Management Flashcards
What is management?
Management is the process that involves planning, organising, resourcing, directing and controlling different activities for the accomplishment of desired goals.
What are the characteristics of management?
- An integrative process.
- A goal-oriented process.
- An intangible factor of production.
- A system of authority.
- A discipline.
- A profession.
- A group of people.
About top management.
Top management leads the entire organizational effort through creation of vision and mission for the organization. It normally comprises managers who are appointed by the board of directors. Managers have to have good conceptual skills and design to plan, organize, monitor and lead the organization towards realising its vision.
What are the responsibilities of the top management?
- Strategic decisions and activities of the business which are long term in nature.
- Chalk out plans for the entire organization and oversee the results that follow.
- Accountable for the impact of the business on stakeholders.
- Have to be aware of external factors such as economy, markets, etc.
About middle management.
Middle management is directly responsible for the actual operations of various division or departments within the organization. It is the communication bridge between top management and front line managers.
What are the responsibilities of the middle management?
- They ensure top management plans get optimally implemented throughout the organization.
- Responsible for communicating and coordinating with front line managers for the effective implementation of the decisions of the top.
- Communicate performance reports, feedback and business intelligence, gathered from the market and front line managers to top.
About front line managers.
They are directly responsible for the performance of employees or workers involved in various operations. Act as a link between the management and the workforce.
What are the responsibilities of front line managers?
- Ensure plans made at the top are implemented effectively.
- Direct supervision of workforce.
- Productivity report to middle management.
- Gather and submit business intelligence to middle.
- Deal with customers and resolve issues if any.
- Balance between the conflicting demands of employee - customer and top management - workers.
What are the functions of management?
- Planning.
- Organizing.
- Staffing.
- Directing.
- Controlling.
What are the various managerial roles?
- Interpersonal roles.
a. Figurehead role.
b. Liaison role.
c. Leadership role. - Informational roles.
a. Monitor role.
b. Disseminator role.
c. Spokesperson role. - Decisional role.
a. Entrepreneurial role.
b. Disturbance handler role.
c. Resource allocator role.
d. Negotiator role.
What is figurehead role?
Figurehead role involves representing the organization externally and internally.
What is liaison role?
Managers need to interact with peers and individuals both inside and outside the organization to gain favours and information to maintain the routine flow of work for the accomplishment of organizational goals.
What is leadership role?
This role enables the manager to influence the behaviour of others for the accomplishment of group goals.
What is monitor role?
The manager receives and collects information to examine whether the performance of desired tasks is as per standards, else he takes corrective action to improve it. Also keeps an eye on external environment.
What is disseminator role?
Requires a manager to transmit information (mission, goals, etc.) within the organization and information to stakeholders, etc. about changes that are going to affect them and the organization.
