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Basic functions Management operates through various functions, often classified as planning, organizing, staffing, leading/directing, controlling/monitoring and motivation. Planning: Deciding what needs to happen in the future (today, next week, next month, next year, over the next five years, etc.) and generating plans for action. Organizing: (Implementation)pattern of relationships among workers, making optimum use of the resources required to enable the successful carrying out of plans. Staffing: Job analysis, recruitment and hiring for appropriate jobs. Leading/directing: Determining what must be done in a situation and getting people to do it. Controlling/monitoring: Checking progress against plans. Motivation: Motivation is also a kind of basic function of management, because without motivation, employees cannot work effectively. If motivation does not take place in an organization, then employees may not contribute to the other functions (which are usually set by top-level management). Communicating: is giving, receiving, or exchange information. Creating: ability to produce original Idea,thought through the use of imagination Basic roles Interpersonal: roles that involve coordination and interaction with employees Informational: roles that involve handling, sharing, and analyzing information Decisional: roles that require decision-making Management skills Political: used to build a power base and establish connections Conceptual: used to analyze complex situations. Interpersonal: used to communicate, motivate, mentor and delegate Diagnostic: ability to visualize most appropriate response to a situation Technical: Expertise in one's particular functional area.[11] Formation of the business policy The mission of the business is the most obvious purpose—which may be, for example, to make soap. The vision of the business reflects its aspirations and specifies its intended direction or future destination. The objectives of the business refers to the ends or activity that is the goal of a certain task. The business's policy is a guide that stipulates rules, regulations and objectives, and may be used in the managers' decision-making. It must be flexible and easily interpreted and understood by all employees. The business's strategy refers to the coordinated plan of action it takes and resources it uses to realize its vision and long-term objectives. It is a guideline to managers, stipulating how they ought to allocate and use the factors of production to the business's advantage. Initially, it could help the managers decide on what type of business they want to form. Implementation of policies and strategies All policies and strategies must be discussed with all managerial personnel and staff. Managers must understand where and how they can implement their policies and strategies. A plan of action must be devised for each department. Policies and strategies must be reviewed regularly. Contingency plans must be devised in case the environment changes. Top-level managers should carry out regular progress assessments. The business requires team spirit and a good environment. The missions, objectives, strengths and weaknesses of each department must be analysed to determine their roles in achieving the business's mission. The forecasting method develops a reliable picture of the business's future environment. A planning unit must be created to ensure that all plans are consistent and that policies and strategies are aimed at achieving the same mission and objectives. All policies must be discussed with all managerial personnel and staff that is required in the execution of any departmental policy. Organizational change is strategically achieved through the implementation of the eight-step plan of action established by John P. Kotter: Increase urgency, get the vision right, communicate the buy-in, empower action, create short-term wins, don't let up, and make change stick.[12] Policies and strategies in the planning process They give mid and lower-level managers a good idea of the future plans for each department in an organization. A framework is created whereby plans and decisions are made. Mid and lower-level management may add their own plans to the business's strategies. Levels of management Most organizations have three management levels: first-level, middle-level, and top-level managers.[citation needed] These managers are classified in a hierarchy of authority, and perform different tasks. In many organizations, the number of managers in every level resembles a pyramid. Each level is explained below in specifications of their different responsibilities and likely job titles.[13] Top-level managers The top consists of the board of directors (including non-executive directors and executive directors), president, vice-president, CEOs and other members of the C-level executives.[14] They are responsible for controlling and overseeing the entire organization. They set a tone at the top and develop strategic plans, company policies, and make decisions on the direction of the business. In addition, top-level managers play a significant role in the mobilization of outside resources and are accountable to the shareholders and general public. The board of directors is typically primarily composed of non-executives which owe a fiduciary duty to shareholders and are not closely involved in the day-to-day activities of the organization, although this varies depending on the type (e.g., public versus private), size and culture of the organization. These directors are theoretically liable for breaches of that duty and typically insured under directors and officers liability insurance. Fortune 500 directors are estimated to spend 4.4 hours per week on board duties, and median compensation was $212,512 in 2010. The board sets corporate strategy, makes major decisions such as major acquisitions,[15] and hires, evaluates, and fires the top-level manager (Chief Executive Officer or CEO) and the CEO typically hires other positions. However, board involvement in the hiring of other positions such as the Chief Financial Officer (CFO) has increased.[16] In 2013, a survey of over 160 CEOs and directors of public and private companies found that the top weaknesses of CEOs were "mentoring skills" and "board engagement", and 10% of companies never evaluated the CEO.[17] The board may also have certain employees (e.g., internal auditors) report to them or directly hire independent contractors; for example, the board (through the audit committee) typically selects the auditor. Helpful skills of top management vary by the type of organization but typically include[18] a broad understanding competition, world economies, and politics. In addition, the CEO is responsible for executing and determining (within the board's framework) the broad policies of the organization. Executive management accomplishes the day-to-day details, including: instructions for preparation of department budgets, procedures, schedules; appointment of middle level executives such as department managers; coordination of departments; media and governmental relations; and shareholder communication. Middle-level managers Consist of general managers, branch managers and department managers. They are accountable to the top management for their department's function. They devote more time to organizational and directional functions. Their roles can be emphasized as executing organizational plans in conformance with the company's policies and the objectives of the top management, they define and discuss information and policies from top management to lower management, and most importantly they inspire and provide guidance to lower level managers towards better performance. Their functions include: Design and implement effective group and inter-group work and information systems. Define and monitor group-level performance indicators. Diagnose and resolve problems within and among work groups. Design and implement reward systems that support cooperative behavior. They also make decision and share ideas with top managers. First-level managers Consist of supervisors, section leaders, foremen, etc. They focus on controlling and directing. They usually have the responsibility of assigning employees tasks, guiding and supervising employees on day-to-day activities, ensuring quality and quantity production, making recommendations, suggestions, and up channeling employee problems, etc. First-level managers are role models for employees that provide: Basic supervision Motivation Career planning Performance feedback |
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