Business And Management University

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Business And Management University

Weihrich and Koontz defined Management and described it the following in the tenth model of their publication Management: A WORLDWIDE Perspective (p.4). 1. As managers, people perform the managerial functions of planning, organizing, staffing, leading, and controlling. 2. Management applies to any type or kind of organization. 3. It applies to managers whatsoever organizational levels. 4. The aim of all managers is the same: to make a surplus. 5. Managing is concerned with productivity; this implies efficiency and efficiency.

The above definition was an adjustment of the definition given by Koontz and O’Donnell. This is implies the next. Management is a process. Management pertains to every kind of business, government, profit making, or nonprofit making. It applies to managers in any way levels in the business. Management can be involved with effectiveness and efficiency. Effectiveness is producing the merchandise or service the customer wants in a business context with the required functional benefits and product attributes at the purchase price he is willing to pay. Efficiency is minimization of resources to create the saleable output.

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Koontz and O’Donnell classified the functions of management or procedure for management into PLANNING, ORGANIZING, STAFFING, CONTROLLING, and LEADING. Management is an art and it is doing things in the light of realities of a situation. The organized knowledge underlying this practice is referred to as the the science that body of knowledge can be expressed through principles of management. This is the considered Koontz and O’Donnell.

Principles are identified for each function of management. Every manager has to choose objectives for his business, department, section, group, or unit. Predicated on the objectives he must set goals for a specific period and make plans that contain ways of achieving the set goals. Planning generally is explained as generating alternatives and collection of the best option alternatives from included in this for resolving a problem. The problem in this framework also has a positive connotation. How to achieve growth is a nagging problem that has a positive implication only.

Therefore, planning is deciding in advance what to do, how to take action, when to do it, and who is to it. Planning bridges the gap from where we are to where we want to maintain a desired future. Planning included decision making. It really is selecting the programs of action that a company or other business, and every section of it, will follow.

Objectives will be the ends toward which the activity of a business is targeted. Goals represent the pace at which objectives of a business are achieved. Goals quantify the target with a right time framework. The emphasis in grand strategies is on the pattern of basic objectives of the business and goals and the major policies and plans for achieving them. The goal of the grand strategy of a business is to determine and communicate, through a system of major goals and procedures, an image of the type of business is envisioned.

A platform is given in the grand strategy, which is a useful intend to guide company considering. Koontz and O’Donnell supply the opinion that strategy is not a new type of plan actually. It really is a planned program. But the idea of strategy is practically very helpful and its importance in guiding detailed planning justify its separation as a different type of plan. Competition exists where several persons strive for the same goals under conditions where not all can gain from them.

Competitive strategy is a plan made in the light of the plans of a competitor. The plans are made either with an estimate of programs or competition or plan is a reaction to the proper move of competitor either announced or executed. To calculate the competitor’s programs, a manager has to put himself in his competitor’s place and develop a set of programs for his competitor, using the data has about the objectives and the circumstances where the competitor is working.

No doubt some commercial espionage will be attempting to get an understanding of competitor’s plans. Policies are general statements that guide or route thinking in decision making of subordinates. Policies delimit a location within which a decision is usually to be made and assure that your choice will be constant with and contribute to objectives.