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Summary MNG2601 Chapter 2 Notes (2nd Edition Textbook)

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Make studying a breeze with our meticulously crafted PDF summary for MNG2601's 2nd Edition Textbook. It will save you hours of reading and note-taking. We've summarised Chapter 1 into a concise, organised document, ensuring you have all the key information at your fingertips. Say goodbye to flipping through endless pages and hello to convenient, effective studying. Get ahead in your studies with this summary today!

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, The Management Process: A Responsible Approach


DEFINING MANAGEMENT
Learning Outcome 01:
Various definitions of 'management': Define the term 'management'
▪ Management is a multi-purpose organ that manages a business, manages managers and manages workers
and work — Peter Drucker
▪ Management is an art of getting things done through people — Mary Parker Follett
▪ Management is a distinct process consisting of planning, organising, actuating and controlling performance
to determine & accomplish the objectives by the use of people and resources — George R Terry
▪ Management is the process of decision-making and control over the actions of human beings for the
purpose of attaining predetermined goals — Stanley Vane
▪ Management consists of getting things done through others. A manager accomplishes the objectives by
directing efforts to others — S George
▪ Management is the process of achieving group goals by facilitating individual performance and cooperation,
removing barriers, and optimising efficiency — Harold Konntz

▪ Management: the process of working with and through others to achieve business objectives, by balancing
effectiveness and efficiency & making the most of scarce resources in a changing environment
▪ 6 Components of this definition:
1. Management is a process
2. Management requires working with and through others
3. Management aims to achieve business goals and objectives
4. Management requires a balance between effectiveness & efficiency
5. Management should make the most of limited resources
6. Management has to cope with a changing environment

Management is a process
▪ A process: a structured set of activities designed to produce a specific outcome
▪ A business's management function can also be viewed as a process:




▪ All managers engage in the management functions — they are:
1. Planning
2. Organising
3. Leading
4. Controlling
The management functions:
• Planning
- Determines the business' vision, mission and goals
- Future-oriented; focuses on achieving goals and securing necessary resources for the task in a complex
environment
- Top management makes long-term goals, called 'strategic plans'
- Functional managers make tactical plans to support the business's long-term plans
- Lower management ('first-line'/'supervisory' management) makes operational plans to plan for short periods
ahead
• Organising
- The creation of a business structure that outlines the allocation of resources and people to achieve business
objectives
- The business's success lies in directing the different resources towards the achievement of a common set of
goals
- Management must match the business structure to its strategies — called 'organisational design'
• Leading
- Involves directing and motivating the human resources of a business to align their actions with established
goals and plans
- Managers are responsible for getting things done through other people
- Also involves effectively communicating goals and motivating departments, sections, and individuals to
perform at their best
• Controlling
- Managers should constantly ensure a business is on the right course to attain it goals
- Control aims to monitor performance and action — to ensure they conform to the plans to attain the
predetermined business goals

Libro relacionado
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John L. Colley, Jacqueline L. Doyle, Robert D. Hardie Principles of General Management
Editorial: 2007 ISBN: 9780300134919 Edición: Desconocido

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