Summary MNG2601 General Management - Study Notes

MANAGEMENT PRINCIPLES
CHAPTER 1

INTRODUCTION TO MANAGEMENT

1.2 ORGANISATIONS AND MANAGERS

All the products and services required to satisfy the consumer’s and, ultimately, society’s needs are
produced and provided by specialised organisations such as hypermarkets, sports clubs, universities, car
manufacturers, banks, guest houses, bicycle shops, hospitals, and airlines to mention but a few.
People’s lives are influenced in some way or another by the managers of these numerous business
organisations.
The following resources are used:
 Human resources
 Capital or financial resources
 Physical resources
 Information resources.

1.3 THE NATURE OF MANAGEMENT

Managers therefore combine, allocate, coordinate, and deploy resources or inputs in such a way that the
organisation’s goals are achieved as productively as possible. In doing so, management follows a
specific process. A process is a systematic way of doing things.

The entails 4 fundamental management functions: -

 Planning
 Organizing
 Leading
 Controlling
Organising
Resources Performance

Human Planning Leading Achieve goals
Financial Products
Physical Services
Controlling
Information Productivity
Profit



THE MANAGEMENT PROCESS COMPRISES PLANNING, ORGANISING, LEADING AND
CONTROLLING.

A model is a simplification of the real world in order to explain complex relationships in easy-to-
understand terms.




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