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Summary Principles of Management IIA Chpt.1&2 - Overview & Managerial Competencies
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Managerial Tasks, Key Competencies of Managers, and Managerial Effectiveness.
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Principles of Management IIA by ProfessorBurgerQueenChapter 1: Overview
- Management is the administration of an organisation, whether it is a business,
nonprofit, or government body
- It is the process of planning, organising, leading, and controlling the human, financial,
physical, and information resources of an organisation to reach its objectives
effectively and efficiently
- An organisation is a collection of people working together to achieve a common
purpose that cannot be completed efficiently and effectively by a person acting alone
- The purpose is expressed in the form of foals, which can be seen in its vision and
mission
- Managers differ from employees in that they do not work on operational tasks,
instead, they supervise, have authority over, and are accountable for the work of their
subordinates
- They supervise by ensuring that employees understand their own individual work
goals and also how the achievement of these contributes to the success of the
overall organization
- It is possible to be efficient without being effective and vice versa, because while
efficiency is how well something is done, effectiveness refers to how useful
something is
- Effectiveness is defined as the degree to which something is successful in producing
the desired result
- Efficiency refers to the ability to accomplish something with the least amount of
wasted time, money, and effort
Managerial Tasks
- Planning
- Leading
- Organising
- Controlling
- Planning is deciding on what the organisation's objectives are and the best way to
achieve them. This is done by:
- Analysing the current situation
- Anticipating the future
- Determining objectives
- Choosing appropriate strategies to achieve the objectives
- Determining the resources needed to achieve the organisation's goals
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