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Understanding the Nature of Management- Components of Management

The nature of management are a wide open topic. However, those who deal with it, have generally discussed the scope and nature of management as separate entities to help you better understand them. In this article, I will discuss the nature of management and how it impacts your organization.

What is Management ?

Management is an important part of every organization. The management professional is responsible for the overall management of a company as well as overseeing the day to day activities of key personnel such as managers, department heads, and supervisors, as well as key professionals such as financial planners, marketing or management specialists, and other administrators.

A management professional must understand that while there are many aspects of business management that are concerned with day to day operations, management must also be concerned with planning, organizing, staffing, and leading.

The Components of Management?

The definition of Management can be broken down into two different components. One is functional management which focuses on the day to day management functions of the manager, such as planning, organizing, controlling, and staffing. The second component is the structure or function. This portion of management focuses on the larger objective of achieving the organization’s long term goals and plans how to do so.

Functional management may include planning, organizing, implementing, and controlling. Structure includes the planning of the enterprise, organizing the enterprise, establishing processes, systems, and assigning responsibilities and duties to employees, and reporting and controlling the functions and activities of the enterprise.

In order to reach and maintain desirable objectives in any business setting, the ability to effectively communicate with all key stakeholders, formulating strategic plans, and motivating employees are all an essential part of the successful management of any enterprise.

Nature of Management
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Nature of Management

The Managerial Services

Managerial service encompasses a range of activities. In order to understand the scope and nature of each of these activities, you need to ask: What is management (Role of Management in Business)? And how is each related to other activities within the organization? The organizational chart clearly shows the relationship among various managerial activities.

Human Resources

Human Resource: This includes both managers and people. Human resources department recruits, retains and manages qualified candidates for positions within the organization. Candidates with human resources skills are necessary to fill all the open positions.

Managers must facilitate the interviewing and hiring process to ensure that quality candidates are hired. In addition, human resource professionals are involved in providing appropriate employment benefits and creating an effective workplace environment.

Organizational Structure

Organizational Structure: It is the set of processes and people that form the organizational structure. These may include managers, employees and other representatives. All managers share the same objectives and duties in running an organization.

However, the nature of their scope will vary depending on the size and structure of an organization. Large organizations have elaborate organizational structures and the scope of their management process covers a broader area.

Top-line Management

Top-line management: This refers to the heads of departments that are responsible for day-to-day operations. Their primary task is to achieve organizational goals.

To achieve these goals, they must organize staff, develop policies, determine resources, and delegate various tasks. They report to senior leaders (Leadership styles) for guidance and control. The functions of first-line managers are quite different from those of other managers, as they deal directly with the organization’s resources.

Real-time Organizational Processes

Real-time Organizational Processes: It is the collection of data and knowledge that support the development of an overall management process.

It includes the creation of specifications, plans, scheduling, reviews, requirements, work assignments, requirements analysis and design, and testing. It involves a wide range of activities and the activities are often performed in real time. This framework of organizational systems is the foundation of any successful business.

Leading Role

Leading Role: It is a key principle of good organizational management that leaders should take responsibility for the entire course of action. They must therefore be skilled in leading and mentoring others. In order to be able to do this, managers must be able to effectively motivate and encourage others in the organization.

They must take responsibility for the results and then take actions for improvement and growth of the business environment. They must make decisions based on facts and not personal opinion or desire.

Managing is the ability to handle change effectively and efficiently. It is essential for any organization to effectively manage its resources.

It is an important part of the strategy adopted by organizations, as it enables the organization to achieve its objectives. It includes an evaluation of an organization’s successes and failures. The principles of effective management guide all the activities undertaken by managers, including planning, organizing, and coordinating.

Aims and Strategies

Aims and Strategies: What the Nature of Management is all about is the fact that it deals with goals and strategies. If you want to achieve something, you need to specify what you wish to achieve. You can also lay down a plan of action.

But these actions cannot be haphazardly executed. These have to be well organized. And only effective management structures can organize your plans of action and bring them to fruition.

Managers are responsible for knowing what the resources of the organization are, where they are located, and how to best use these resources. The organization’s resources include people, money, equipment, and technology.

Organization needs the knowledge and skills to effectively utilize its resources. Managers must therefore be skilled in coordinating, managing, organizing, motivating, and encouraging people in an organization to perform their functions properly and to achieve the organization’s objectives.

Goal-oriented Management

Goal-oriented Management: In defining the Nature of Management, goals are also an important part. Without clearly defined goals, any venture can fail. You cannot organize an organization or manage it if you do not know what your organization’s goals are and how you intend to attain these goals.

You have to set the goals before you organize your organization so that you will be able to properly organize and motivate your employees to work towards these goals.

Achieving Goals

Achieving Goals: Finally, it is very important for managers to know how to achieve their goals. Achieving goals implies both knowledge and skill.

If you do not have the knowledge and skill to achieve your goals, you will not be successful in your management endeavor. This requires that managers be properly trained and groomed to become successful goal-oriented managers.

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