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MNG2601NOTES
,CH1 Introduction to Management p3
Introduction p4
All organisations utilise societies’ scarce resources, namely:
# Scarce Resource Academic Name
1 People Human resources
2 Money Capital
3 Raw materials Physical resources
4 Knowledge Information resources
Business Organisations and Managers p5
The ways in which organisations serve society: they bring together the resources of a nation to produce the goods
and services it needs.
The Nature of Management p6
The 4 fundamental management functions:
# Management Function
1 Planning
2 Organising
3 Leading
4 Controlling
Learn Table 1.1: The basic resources of an organisation p7
The interactive nature of the management process: the external environment:
# Function Description
1 Planning Managers determine the organisation’s vision, mission and goals and decide on a strategy
to achieve them
2 Organising Managers group activities together, establish authority, allocate resources, and delegate
3 Leading Managers direct and motivate members of the organisation to achieve the mission and
goals
4 Controlling Managers monitor progress and take corrective steps to reach the mission and goals
A Definition of Management p8
Management is the process of planning, organising, leading, and controlling the scarce resources of the
organisation to achieve the organisation’s mission and goals as productively as possible.
# Function Description
1 Planning The management function that determines where the organisation wants to be in
the future: vision, mission, goals
Strategic plans: made by top management, 5-10 years
Tactical plans: made by functional managers
Operational plans: made by lower management, shorter term plans i.e. daily,
weekly, monthly
, 2 Organising Allocation of human resources
Tasks, roles and responsibilities are defined
Development of a framework or organisational structure
Organisational design: management must match the organisation’s structure to its
strategies
3 Leading Directing the human resources of the organisation and motivating them in such a
way that they will be willing to work productively to reach the organisation’s
mission and goals
Managers are responsible for getting things done through other people
Leading the organisation means making use of influence and power to motivate
employees to achieve organisational goals
4 Controlling Managers should constantly make sure that the organisation is on the right course
to reach its goals
The aim of control is to monitor actual results against planned results
Different Levels and Kinds of Management in the Organisation p10
Managers are usually classified into 2 categories p10:
# Category Description
1 According to their level in the organisation Top, middle, lower or first-line
2 By the functional or specialist area of management The functional managers i.e. marketing manager,
for which they are responsible finance manager, operations, human resources,
research and development etc.
Top management p10:
# Responsibility
1 Responsible for the organisation as a whole
2 Includes board of directors, partners, managing director, chief executives
3 Responsible for determining the mission, vision, goals and overall strategies of the entire organisation
4 Concerned with long-term planning, designing the organisation’s broad organisation structure, leading the
organisation, and monitoring (controlling) its overall performance
Middle management p11:
# Responsibility
1 Responsible for specific departments of the organisation
2 Includes functional heads such as financial manager, marketing manager etc.
3 Primarily concerned with implementing the strategic plan formulated by top management
4 Responsible for medium-term planning (the near future) and leads by means of the department heads
5 Continually monitor environmental influences that may affect their own departments
Lower/first-line management p11:
# Responsibility
1 Responsible for smaller segments of the organisation e.g.: the different sections
2 Includes supervisors or foremen
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