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Business Jargons

A Business Encyclopedia

Definition : Management can be defined as the process of administering and controlling the affairs of the organization , irrespective of its nature, type, structure and size. It is an act of creating and maintaining such a business environment wherein the members of the organization can work together, and achieve business objectives efficiently and effectively.

Management acts as a guide to a group of people working in the organization and coordinating their efforts, towards the attainment of the common objective.

In other words, it is concerned with optimally using 5M’s, i.e. men, machine, material, money and methods and, this is possible only when there proper direction, coordination and integration of the processes and activities, to achieve the desired results.

Characteristics of Management

• Universal : All the organizations, whether it is profit-making or not, they require management, for managing their activities. Hence it is universal in nature.
• Goal-Oriented : Every organization is set up with a predetermined objective and management helps in reaching those goals timely, and smoothly.
• Continuous Process : It is an ongoing process which tends to persist as long as the organization exists. It is required in every sphere of the organization whether it is production, human resource, finance or marketing.
• Multi-dimensional : Management is not confined to the administration of people only, but it also manages work, processes and operations, which makes it a multi-disciplinary activity.
• Group activity : An organization consists of various members who have different needs, expectations and beliefs. Every person joins the organization with a different motive, but after becoming a part of the organization they work for achieving the same goal. It requires supervision, teamwork and coordination, and in this way, management comes into the picture.
• Dynamic function : An organization exists in a business environment that has various factors like social, political, legal, technological and economic. A slight change in any of these factors will affect the organization’s growth and performance. So, to overcome these changes management formulates strategies and implements them.
• Intangible force : Management can neither be seen nor touched but one can feel its existence, in the way the organization functions.

Precisely, all the functions, activities and processes of the organization are interconnected to one another. And it is the task of the management to bring them together in such a way that they help in reaching the intended result.

Levels of Management

• Top-Level Management : This is the highest level in the organizational hierarchy, which includes Board of Directors and Chief Executives . They are responsible for defining the objectives, formulating plans, strategies and policies.
• Middle-Level Management : It is the second and most important level in the corporate ladder, as it creates a link between the top and lower-level management. It includes departmental and division heads and managers who are responsible for implementing and controlling plans and strategies which are formulated by the top executives.
• Lower Level Management : Otherwise called as functional or operational level management. It includes first-line managers, foreman, supervisors . As lower-level management directly interacts with the workers, it plays a crucial role in the organization because it helps in reducing wastage and idle time of the workers, improving the quality and quantity of output.

The three management levels form the management hierarchy, that represents the position and rank of executives and managers in the chart.

Functions of Management

• Planning : It is the first and foremost function of management, i.e. to decide beforehand what is to be done in future. It encompasses formulating policies, establishing targets, scheduling actions and so forth.
• Organizing : Once the plans are formulated, the next step is to organise the activities and resources, as in identifying the tasks, classifying them, assigning duties to subordinates and allocating the resources.
• Staffing : It involves hiring personnel for carrying out various activities of the organization. It is to ensure that the right person is appointed to the right job.
• Directing : It is the task of the manager to guide, supervise, lead and motivate the subordinates, to ensure that they work in the right direction, so far as the objectives of the organization are concerned.
• Controlling : The controlling function of management involves a number of steps to be taken to make sure that the performance of the employees is as per the plans. It involves establishing performance standards and comparing them with the actual performance. In case of any variations, necessary steps are to be taken for its correction.

Coordination is an important feature of management which means the integration of the activities, processes and operations of the organization and synchronisation of efforts, to ensure that every element of the organization contributes to its success.

Related terms:

• Coordination
• Management by Objectives (MBO)
• Controlling
• Management Accounting

Reader Interactions

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1 Introduction to Management

Learning Objectives

The purpose of this chapter is to:

1)  Give you a basic understanding of management and its importance

2)  Provide a foundation of the managerial functions of planning, organizing, leading, and controlling

Introduction to Management

Management is not a hard science.  Unlike chemistry or algebra where a right answer (often) exists, management is fluid, and subjective, and there are divergent perspectives on how to employ its principles.  But what exactly is management?  Most scholars have variations of the same definition that include a utilization of resources to achieve a goal.  Lussier (2021) defines a manager as “the individual responsible for achieving organizational objectives through efficient and effective utilization of resources” (p. 3).   The problem with this definition is that it implies that a manager has to be both efficient and effective, which eliminates the possibility of having a bad manager.  Each of us can probably contradict this definition by providing an example from our personal past.  However, this definition contains the basic elements of using resources to pursue goals.

An early management scholar, Mary P. Follett characterized management as “the art of getting things done through the efforts of other people” (Graham, 1995).   This definition implies both pursuing goals (getting things done) and utilizing resources (predominantly through people).  However, this too is missing an element, that of the organizational context.  An important consideration for understanding management is that the term organization simply refers to “a collection of people working together to achieve a common purpose” (Shermerhorn, 2013, p. 11).  This means an organization could be anything from your high school volleyball team to church or a corporation.  Including the term “organization” in the definition leaves open the possibility that management can be practiced in each of these settings, and broadens our use of the term management.  A comprehensive definition for management then, would be the pursuit of organizational goals through the use of organizational resources (Bateman & Snell, 2013).  Pursuit implies a chance of failure and organizational gives us a context.  This begs the question – how can we become effective at the pursuit of goals, or become more efficient in our use of organizational resources?  Being good at management requires an immense focus on both of these ends, and we can achieve this through the process of the planning, organizing, leading, and controlling functions of management.   These functions serve as the basis for the rest of the textbook because they are the essential tools we use to manage organizations.  Most of the context and examples for this book focus on the corporate use of management.  However, you should meet the concepts where you are in your professional or academic career – apply the principles to the context of your life, master the four functions for what you are doing now so that you can scale them to much bigger managerial endeavors later.

Management is not New

A broad understanding of management as resource utilization focused on a goal gives us a wide scope of situations and contexts in which to practice it.  For example, the Crow Indians employed a complex strategy to harvest an entire herd of buffalo by driving them off a cliff.  To funnel the herd to the lane leading up to the cliff they used a decoy (a hunter donned in a buffalo calf robe imitating a lost calf), incense to smoke them towards the lane, or rock piles to guide them to the lane (Nathan, 2018).  If we apply the basic principles of management in this context we can see these hunters used resources (rocks, incense, knowledge and tradition) to pursue a goal (procurement of food, tools, and clothing the bison afforded them).

At its core, this imperial supply chain used the same approach to achieve success th at a teenager might use in a playing video games.  If he rallys his friends after school in a game of Call of Duty to defeat their online opponents, he might also be considered a manager.  He uses his experience and knowledge of gameplay as well as weaponry within the game to pursue his goal of competitive domination.

These examples demonstrate that management is multifarious, and not at all a recent phenomenon.    Yet, when we hear the term management , most of us probably conjure an image something like that of a corporate vice president implementing a marketing strategy to meet quarterly sales goals.  The irony is that the corporate manager is utilizing the same tools as those of the native hunter, Spanish fleet admiral, and sophomore gamer.   Management is both universal and ubiquitous in that we all use variations of its elements.

The Four Functions of Management

The management process by which we pursue goals includes planning, organizing, leading, and controlling.  These are “ the how ” a manager pursues organizational goals, and are universally known as the four functions of management.  They stem from the work of a French mining administrator, Henri Fayol, who first identified management as a practice that could be improved through the use of five functions – planning, organizing, commanding, coordinating, and controlling.  Since he published his work in 1916, we have decided that leading people through motivation and incentivization works much better than telling them what to do (e.g. commanding and coordinating).  We use the term leading instead of these practices.  Chapter 2 on the history of management will provide some insights regarding this change.  Nonetheless, he gave us a place from which to start.

Even if you have never stepped foot in a corporate office, or held the title of manager at your local Dairy Queen, you have no less used the functions of management in your personal pursuits.  A relevant example would be the process by which you manage your personal budget.

Reflection:  Are you already a manager?

Think about your personal or family budget for a moment, and answer the following questions:

1) Do you have your budget written down somewhere, or in an excel spreadsheet?

2) What are your financial goals?

3) How much do you put in savings, charity, and monthly expenses?

4) Where does your money come from (a job, your parents, a hobby, your spouse)?

5) If you have a budget shortfall during the month, what do you do?

6) How do you keep track of expenses to ensure your bank account remains in the black?

If you answered yes to question #1, then you are already engaged in the management function of planning.  You know where your money is being spent.  The same holds true for your financial goals.  If you want to leave college debt free, save for a down payment on a house, or go on an unforgettable spring break trip, you have defined your organizational objective!  Where you put your money is a function of how you manage your resources.  This organizing function is presumably in line with your financial goals.  For example, if you want to save for a down payment, you need to actually allocate your resources (income) to a savings account.  Moreover, where your money comes from is also the source of your organizational resources.   A budget shortfall might require you to employ the leading function of management.  The essence of leading is motivating other people to align with your plan.  What do you do if you need to pay bills, but don’t have the money?  Perhaps you ask your parents for a loan (need to sell this idea to them), or you might need to negotiate with a co-worker to let you take on extra shifts (show them what’s in it for them in return), or it might be the reality that you need to sell something to make ends meet by selling something (in which case selling requires you to inspire someone else to see value in what you are selling).   Leading might also entail convincing someone else in your circle to get on board with your gameplan (like a spouse, or sibling).  Finally, keeping track of your expenses to ensure solvency and pace with your goals is the core of the controlling function.  Do you keep receipts and check them against your online account expenses?  Do you update your spreadsheet after your bill automatically debits from your account?  Do you get an email notifying you have a low balance and are in risk of overdraft charges?  Each of these methods are ways to monitor your progress and decide if you need to make a change (short term or long term).

If you reflect on this example of your personal budget, or you worked to achieve a personal or team goal, you will likely conclude that you are already a manager.  This wide application of managerial thinking means that if you can master its principles on your personal scale, you can then amplify its use when you need to use it on a large scale.  Get good at leading your class project, organizing your club fundraiser, or helping your team win a conference championship, and you will later be able to magnify the scale to lead a marketing department, or corporate merger, and even diplomatic negotiations as a prime minister.

Mastering the four functions will allow you to apply the function of planning on a more complex stage such as evaluating the internal and external environments of your organization.  Using this analysis you can create an effective game plan to formulate a sustainable competitive advantage.  Developing an organizing skillset will allow you to propose a structure for your team that incorporates cross functional members and ways of thinking.  It will allow you to identify and recommend resources needed to pursue your plan.  Honing your leading skillset will afford you the capability to motivate your organizational stakeholders to partake in your strategy, and force you to consider the ethical implications of your actions.   Finally, implementing effective controlling allows you to check progress towards your goals and to recommend changes if you need to get on track.

Planning is the systematic process of making decisions about goals and activities the organization will pursue (Bateman & Snell, 2013).  To make a decision about the direction of an organization, the planning phase must begin with analyzing the environment.  Without a solid understanding of the context, the manager would have no basis to provide future direction.  The context gives a manager a point of reference for improvement, opportunity, and learning from past mistakes.  For this reason, the planning function should begin with analysis.  This analysis should consider both the internal factors such as culture, values, and performance of team members as well as the external factors such as competitive environment, legal regulations, economy, technology, social values, and demographics.

The second component of planning is to use this analysis of the environment to build goals, activities, and objectives.  For a major organization this might be the vision and mission statement of the organization.  For a smaller organization this could be a year end, or season end goal.  Some consider planning that point in your day or month that you step away from your desk, and think about the direction of your organization.  This requires you to reflect on your organization’s past, and determine how that impacts the direction going forward.

            Organizing is the process of assembling and assigning the human, financial, physical, informational, and other resources needed to achieve goals (Bateman & Snell, 2013).   The core of the organizing function is leveraging the resources to align with the determined goals.  Organizing human resources means first of all attracting a labor force that can help you pursue your goal.  Within the organization, managing the human element means assigning tasks, delegating authority, determining a structure and hierarchy.  Organizing the financial resources equates to making sure your capital is being utilized to meet goals.  If an organization decides they want to have a best-in-class customer service team, they better being willing to spend the money to attract people with the disposition towards serving others, and spend money on training, or a retreat to teach the agents the skillsets they need.  Marshalling physical resources focuses on the effectiveness of where you place and how you use physical assets.  An executive chef might re-arrange a kitchen to improve process flow, food quality, or mitigate safety risks for example.  Informational resources implies a leveraging and disseminating the organization’s knowledge in meaningful ways to achieve goals.  Connecting employees to how they contribute to the financial bottom line is a way of leveraging informational resources, as is using your company’s proprietary algorithm to predict stock prices or develop new products.

Leading is stimulating high performance by members of the organization (Bateman and Snell, 2013).  This function is getting members of the organization on board with your plan.

Normally, this means connecting with direct reports or teammates on a personal level.  Understanding what drives individuals within the team allows a manager to design strategies around motivating, incentivizing, mobilizing, and arousing a desire to contribute.

Imagine for a minute, that you analyzed the conditions of the organization, you determined a game plan to pursue and even directed resources to step in that direction.  You have successfully implemented the planning and organizing functions.  In this scenario, however, you did not give consideration to how your team or organization would be involved.  Do they agree with your direction?  Did they have input in the process?  Do they feel valued as a team member?  Do they understand their role in a successful outcome?   All of these questions are answered by the degree to which a manager is engaged in the leading function.

Having personal conversations, designing a bonus structure, or giving a rousing speech might all be considered leading the organization.

Controlling

Control is installing processes to guide the team towards goals and monitoring performance towards goals and making changes to the plan as needed (Batemen & Snell, 2013).  Control does not always mean limited what the organization can do by having a hand in everything.  We might call this micro-managing, which is control in its extreme form.  Healthy control processes involve putting systems in place to make sure your organization is on track to meet the goals you established in the planning process.  Planning sets standards to compare against, and the control process is the dashboard that tells whether or not you are meeting the standard.  For example, a grocery store might set a goal of reducing shrink (that’s product lost to shoplifting, damage).  They decide that they want to reduce their shrink loss by 50%.  To achieve this plan, they will have to dedicate resources (more employees to monitor, rearrange loading dock).  You already recognize that step as the organizing function.  We then incentivize our employees by designing a bonus structure – i.e. if we collectively meet the goal, each employee shares in the savings.  If we stop there, we would have no way of knowing if we met the goal.  The control process solves this for us.  The last step in the grocery store manager’s managerial approach is to have each department head report their shrink loss at the end of the shift, and aggregate those in an excel spreadsheet.  In this way, the manager can see if the rearrangement of the loading dock has reduced the number of damaged canned goods that was happening under the old arrangement.  The manager can make changes if they see that shrink is not improving even after hiring a greeter at the entrance.

Monitoring performance is the first step in control.  After see the progress towards goals, the next step is to make changes.  In this way, the control process always leads a manager back to the planning phase of management.  There are only two outcomes to the control process.  You are making progress towards your goal, or you are digressing in your performance.  If you reach your goal, you will need to set new goals, which is the planning function.  If you are not progressing towards your goal, you need to analyze the environment and determine why not.  In this way the management functions are related and highly dependent upon each other, especially control and planning.

            To illustrate the application of the four functions of manager, consider the various contexts in Figure 1.1.   Under the personal budget, an engaged couple has decided to save for a house after getting married.  The softball coach must determine how to win a conference championship, and the corporate manager is working on a strategy to improve waning sales figures.

Figure 1.1 – The Functions of Management Applied

On the Importance of Studying Management

The purpose of this textbook is to provide you with firstly, a broad exploration of what management is – its elements and origins.  Secondly, the purpose of this textbook is to provide you with a managerial framework you can utilize to practice management at any level of complexity.  This framework emphasizes the four basic functions – planning, organizing, leading, and controlling.  Most management textbooks include a wide variety of academic terms and concepts that take focus away from these four functions.  Other textbooks will inundate the reader with descriptions of heuristics, focus on layers of management, or extraneous terms like the Shamrock organization that do not advance a practical understanding of management.  We have designed this textbook with the four functions of management at the forefront because these elements are so critical to the foundation of everything you will do in the managerial context.  This textbook provides a history of management and a chapter on ethics, but then focuses exclusively on the functions of management as the subject matter.  At the completion of this textbook, you should be able to understand, recognize, and apply these four functions of management.

The four functions of management (plan, organize, lead, and control) serve as the foundation for everything else you will study in your business education.  Mastering these tools at the most basic level, as well as the more sophisticated levels in classes you will take later, will best prepare you as a business professional (Dolechek et al, 2019).

Figure 1.2 – Management as the Foundation

Upon completion of a management principles course, you will progress towards the applications of the four functions of management in the upper level courses.  For this reason, management principles serves as a pre-requisite for most other management courses.   In marketing principles you will develop an understanding of how to analyze external conditions, and a course in information systems will help you design ways to collect more information to analyze.  This is the core of the planning function.  In human resources and organizational behavior, you will learn the dynamics of your ever-important resource of human labor, the organizing function.  In business ethics and applied management skills you work on understanding what drives people, and by association how to lead them based on that understanding.  Grasping business law and production operations will give you a deeper understanding of how to monitor progress (to meet legal compliance and to test production quality for example).  The entire discipline of accounting is a managerial function of control.  Constructing financial statements is done for the sole purpose of determining the performance of you organization so that you can make future decisions.  The capstone course of a business program is the business strategy class.  In this course, students are given an opportunity to demonstrate mastery of the four functions by including all of the functional areas of business in their decision making.

A Whale of an Example

You are the city manager of a coastal Oregon city.  On a quiet, rainy Tuesday, you walk into your office and put the coffee on.  As you take your first sip, your administrative assistant forwards you a phone call from the parks and rec manager.  “We’ve got a problem down here on the beach.  The tide just left a dead humpback whale on our beach.”  What do you do?  What. Do. You. Do??   Now, there are several options to dealing with the dead whale.  Consider the following questions:

• 1) What is your strategy for dealing with this problem? ( Plan )
• 2) What resources do you need to follow your strategy? ( Organize )
• 3) What stakeholders do you need to get on-board? ( Lead )
• 4) What steps can you take to make sure your plan is proceeding as you planned it? ( Contro l)

There are a handful of strategies we might naturally gravitate towards.  The feasibility of each strategy depends on how well you employ the functions of management.

Tow the whale back to sea – A crane, tug boat, and tow cable are needed.  Who might you need to include in this gameplan?  The coast guard might need to be involved to discuss any pertinent regulations.  A marine captain that can tell you about tides so that you can time your extraction, and insights about currents to indicate how far out you need to haul the whale once its buoyant.  Should you allow a marine biologist to provide advice on what sort of ecological impact this might have (like bring in unwanted sharks or seals).  How can you be sure the tow cable has enough tinsel strength to haul a bloated whale on a high friction surface like wet sand?   Does the crane have the capacity to move the carcass into position to be hauled?  If the whale is decaying, will the tow cable just pull through the rotten flesh?

Cut the whale up, haul it to the dump –  You will need a forklift, semi-truck, and chainsaw.  The first consideration here would be the logistics of pursuing this strategy.  You will need to find a truck with the towing capacity to haul large chunks of the carcass off the beach.  Can you ensure the weight of a loaded semi would not sink into the wet sand?  How much does a semi-loaded with a whale carcass weight?  You may also need to contact the county roads manager to determine if there are any bridges between the beach and the dump that have weight restrictions.   What sort of protective equipment would you need for the men slicing through the whale with chainsaws?  There are a few control processes that need to be put in place for this strategy to work.

Celebrate the whale – The objective of the city manager is to “deal with” the dead whale.  For most, this would mean remove it somehow.  For others, this might be a chance to celebrate the occasion, and establishing the experience in the culture and history of the town.  To celebrate the whale, the city manager can hold a competition like car dealers do to promote their cars – have contestants place their hand on the whale and the last person to withstand touching the grotesque, slimy, and malodorous creature, somehow wins a major prize.  This would require a sponsor to donate a prize (a car, a vacation) and the town can celebrate the occasion annually.  If the goal is to appease the community from the existence of the whale and its stench, celebration is one strategy to pursue that end.  You would need to include a biologist to determine if leaving the whale to decay after the festival would attract scavengers, and a water chemist to determine if a decaying whale creates toxicity problems for beach goers.

Blow it up! – The kid in most of us choose this option.  Definitely.  You might need to check with state officials to see what the protocols are on this approach.  The biggest question would be how much dynamite do you need to blow up a whale, or blow it into the ocean?  In Oregon, one stakeholder group you might contact is a mining company or the Oregon national guard.  Both of those groups have a lot of experience calculating explosive requirements.   What are the safety protocols you need in place to make sure that no one is injured?  Where will you be able to source enough explosives to achieve this goal?

Use of the four functions

Each of these scenarios contain some far-fetched elements.  But asking the right questions is paramount to turning any of these into a feasible strategy.  You first need to decide a path, then determine your resources before getting stakeholder groups on board.  For a high-risk situation like most of these solutions call for, you need to put control mechanisms in place to mitigate your risks.  If you type “Oregon’s exploding whale” you can see what has become the most-watching news broadcast of all time.  It shows you what happens when a city manager does not successfully navigate the situation using all four functions of management.

Critical Thinking Questions

How are the four functions of management related?

Which is the most important function of management?

Choose a historical event prior to the year 2000.  Analyze the leader’s use of the four functions of management during that event.

How to Answer the Critical Thinking Questions

For each of these answers you should provide three elements.

• General Answer.  Give a general response to what the question is asking, or make your argument to what the question is asking.
• Outside Resource.  Provide a quotation from a source outside of this textbook.  This can be an academic article, news story, or popular press.  This should be something that supports your argument.  Use the sandwich technique explained below and cite your source in APA in text and then a list of full text citations at the end of the homework assignment of all three sources used.
• Personal Story.  Provide a personal story that illustrates the point as well.  This should be a personal experience you had, and not a hypothetical.  Talk about a time from your personal, professional, family, or school life.   Use the sandwich technique for this as well, which is explained below.

Use the sandwich technique:

For the outside resource and the personal story you should use the sandwich technique.  Good writing is not just about how to include these materials, but about how to make them flow into what you are saying and really support your argument.  The sandwich technique allows us to do that.  It goes like this:

Step 1:  Provide a sentence that sets up your outside resource by answering who, what, when, or where this source is referring to.

Step 2:  Provide the quoted material or story.

Step 3:  Tell the reader why this is relevant to the argument you are making.

EXAMPLE :  Let me provide an example of homework expectations using the type of question you might see in a critical thinking question at the end of the chapter.  Each of the answers you provide should be this thorough.

Question:  Explain why it is important to study management.

Management is important to study because it serves as the foundation for all other areas of business.  The four functions can be used in other business areas such as accounting, marketing, operations management and human resources.   All of the areas of business need people who know how to make a plan and allocate resources.  All of the areas of business need people who know how to motivate others, and to make sure they are on track for their organization’s goals.   For this reason, improving our mastery of management will make us more effective at whichever role we are in.   A good example of this foundation comes from research conducted on accounting firms in Romania.  Wang and Huynh (2014) found that accounting managers who embraced both managerial best practices and had the technical skills needed for accounting improved the organizational outcomes of their firms.  These findings suggest that business professionals need managerial skills to supplement the day-to-day roles they have.

As I reflect on management as a foundational discipline, I remember how my high school baseball coach approached our team after a losing season.  We were not a good team because we did not have fundamentals of how to grip a baseball, how to stand in the batter’s box, or how to field a ground ball.   That next year, he taught us all of these fundamentals and we won a lot of games.  It seems to me that learning fundamentals of management can have the same impact.  Being able to execute the four functions of management allows us to get better at how we approach marketing a new product, or improving operations processes.

Wang, D., & Huynh, Q. (2014). Linkages among corporate governance, management accounting practice and organizational performance: Evidence from a Southeast Asian country. Romanian Economic and Business Review, 9(1), 63-81.

Chapter References

Aho O.W., Lloyd R.A. (2019) The Origins of Robust Supply Chain Management and Logistics in the Caribbean: Spanish Silver and Gold in the New World (1492–1700). In:

Bowden B., McMurray A. (eds) The Palgrave Handbook of Management History . Palgrave Macmillan: London, UK.

Bateman, T., & Snell, S. (2013).  M: Management (3rd ed) .  McGraw Hill / Irwin: New York, NY

Dolechek, R., Lippert, T., Vengrouskie, E. F., & Lloyd, R. A. (2019).  Solving a whale of a problem: Introducing the four functions of management in a management principles course .  International Forum of Teaching Studies, 15 (2), 29-35.

Fayol, H. (1949).  General and Industrial Management . Sir Isaac Pitman & Sons Ltd:  London, U.K.

Graham, P. (1995).  Mary Parker Follett: Prophet of Management.  Harvard Business School Press: Boston, MA.

Lussier, R. (2021).  Management Fundamentals: Concepts, Applications, Skill Development.  (9th Ed).   Sage Publications: Thousand Oaks, CA.

Nathan, R. (2018). The Grapevine Creek Buffalo Jump Complex: Interdisciplinary Research on the Crow Reservation, Montana (Doctor of Anthropology, dissertation).  Indiana University.

Shermerhorn, J. (2013).  Management (12th Ed) . Wiley and Sons: Hoboken, NJ

The Four Functions of Management Copyright © 2020 by Dr. Robert Lloyd and Dr. Wayne Aho is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License , except where otherwise noted.

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1.4: Assignment- Primary Functions of Management

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Preparation

Our text describes the four important and dynamic primary functions of management as planning, organizing, leading, and controlling. In this assignment you will identify, describe, and differentiate the four functions. The following steps will help you prepare for your written assignment:

• Carefully consider the four primary functions of management in the context of a business you know. This could be your workplace, Nokia or ThyssenKrupp introduced to you earlier, or another selected business you are familiar with.
• Select one of the four functions of management that your reading and consideration leads you to believe is the most important. If you believe no single function stands out, then you may select the interoperability of all four.

Write a three-paragraph essay describing your chosen function, and why you rank its importance so highly. Your essay must include three properly referenced and defined terms from the module reading. For example, if you select Controlling, you could include the definition of feedback loop . Answer and address these questions:

• What is the primary function you selected?
• How does it interact with the other functions?
• What would happen to “management” without your selected function?
• What factors cause you to rank its importance above the others?

In addition to the text, you are encouraged to research your topic using reliable and properly cited Internet resources.

Contributors and Attributions

• Assignment: Primary Functions of Management. Authored by : Betty Fitte and Lumen Learning. License : CC BY: Attribution

Want to create or adapt books like this? Learn more about how Pressbooks supports open publishing practices.

1.1 Introduction to Principles of Management

Managers make things happen through strategic and entrepreneurial leadership.

Unsplash – CC0 Public Domain.

What’s in It for Me?

Reading this chapter will help you do the following:

• Learn who managers are and about the nature of their work.
• Know why you should care about leadership, entrepreneurship, and strategy.
• Know the dimensions of the planning-organizing-leading-controlling (P-O-L-C) framework.
• Learn how economic performance feeds social and environmental performance.
• Understand what performance means at the individual and group levels.
• Create your survivor’s guide to learning and developing principles of management.

We’re betting that you already have a lot of experience with organizations, teams, and leadership. You’ve been through schools, in clubs, participated in social or religious groups, competed in sports or games, or taken on full- or part-time jobs. Some of your experience was probably pretty positive, but you were also likely wondering sometimes, “Isn’t there a better way to do this?”

After participating in this course, we hope that you find the answer to be “Yes!” While management is both art and science, with our help you can identify and develop the skills essential to better managing your and others’ behaviors where organizations are concerned.

Before getting ahead of ourselves, just what is management, let alone principles of management? A manager’s primary challenge is to solve problems creatively, and you should view management as “the art of getting things done through the efforts of other people.” 1 The principles of management , then, are the means by which you actually manage, that is, get things done through others—individually, in groups, or in organizations. Formally defined, the principles of management are the activities that “plan, organize, and control the operations of the basic elements of [people], materials, machines, methods, money and markets, providing direction and coordination, and giving leadership to human efforts, so as to achieve the sought objectives of the enterprise.” 2 For this reason, principles of management are often discussed or learned using a framework called P-O-L-C, which stands for planning, organizing, leading, and controlling.

Managers are required in all the activities of organizations: budgeting, designing, selling, creating, financing, accounting, and artistic presentation; the larger the organization, the more managers are needed. Everyone employed in an organization is affected by management principles, processes, policies, and practices as they are either a manager or a subordinate to a manager, and usually they are both.

Managers do not spend all their time managing. When choreographers are dancing a part, they are not managing, nor are office managers managing when they personally check out a customer’s credit. Some employees perform only part of the functions described as managerial—and to that extent, they are mostly managers in limited areas. For example, those who are assigned the preparation of plans in an advisory capacity to a manager, to that extent, are making management decisions by deciding which of several alternatives to present to the management. However, they have no participation in the functions of organizing, staffing, and supervising and no control over the implementation of the plan selected from those recommended. Even independent consultants are managers, since they get most things done through others—those others just happen to be their clients! Of course, if advisers or consultants have their own staff of subordinates, they become a manager in the fullest sense of the definition. They must develop business plans; hire, train, organize, and motivate their staff members; establish internal policies that will facilitate the work and direct it; and represent the group and its work to those outside of the firm.

1 We draw this definition from a biography of Mary Parker Follett (1868–1933) written by P. Graham, Mary Parker Follett: Prophet of Management (Boston: Harvard Business School Press, 1995). Follett was an American social worker, consultant, and author of books on democracy, human relations, and management. She worked as a management and political theorist, introducing such phrases as “conflict resolution,” “authority and power,” and “the task of leadership.”

2 The fundamental notion of principles of management was developed by French management theorist Henri Fayol (1841–1925). He is credited with the original planning-organizing-leading-controlling framework (P-O-L-C), which, while undergoing very important changes in content, remains the dominant management framework in the world. See H. Fayol, General and Industrial Management (Paris: Institute of Electrical and Electronics Engineering, 1916).

Principles of Management Copyright © 2015 by University of Minnesota is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License , except where otherwise noted.

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Assignment Method: Examples of How Resources Are Allocated

What Is the Assignment Method?

The assignment method is a way of allocating organizational resources in which each resource is assigned to a particular task. The resource could be monetary, personnel , or technological.

Understanding the Assignment Method

The assignment method is used to determine what resources are assigned to which department, machine, or center of operation in the production process. The goal is to assign resources in such a way to enhance production efficiency, control costs, and maximize profits.

The assignment method has various applications in maximizing resources, including:

• Allocating the proper number of employees to a machine or task
• Allocating a machine or a manufacturing plant and the number of jobs that a given machine or factory can produce
• Assigning a number of salespersons to a given territory or territories
• Assigning new computers, laptops, and other expensive high-tech devices to the areas that need them the most while lower priority departments would get the older models

Companies can make budgeting decisions using the assignment method since it can help determine the amount of capital or money needed for each area of the company. Allocating money or resources can be done by analyzing the past performance of an employee, project, or department to determine the most efficient approach.

Regardless of the resource being allocated or the task to be accomplished, the goal is to assign resources to maximize the profit produced by the task or project.

Example of Assignment Method

A bank is allocating its sales force to grow its mortgage lending business. The bank has over 50 branches in New York but only ten in Chicago. Each branch has a staff that is used to bring in new clients.

The bank's management team decides to perform an analysis using the assignment method to determine where their newly-hired salespeople should be allocated. Given the past performance results in the Chicago area, the bank has produced fewer new clients than in New York. The fewer new clients are the result of having a small market presence in Chicago.

As a result, the management decides to allocate the new hires to the New York region, where it has a greater market share to maximize new client growth and, ultimately, revenue.

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MGT 2220: Principles of Management (Assignment)

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Term assignment.

TERM PROJECT

• Background and Context: Discuss type of industry, products/services, and how organizational vision and strategies have influenced their management.
• Analysis of current managerial style and organizational culture.
• One NEW recommendation by you that the company can embark on in the near future meaning the next one to three years. This can be a goal to fix issues the company may be experiencing, or to address new endeavors from a growth perspective. Ensure that these align with the organization’s vision and values.   This recommendation must not be identical or very similar to anything the organization is planning already or is currently involved in.  The management involves the four functions of management being applied to achieve some type of organizational goal.
• For your recommendation you will select one goal that will be accomplish. This goal must be a specific goal following the SMART goal setting theory. That means the goal must be specific, measurable, achievable, relevant, and time bound.
• Once your goal is selected for your new strategic initiative you will complete the following four areas regarding the four functions of management.

List and describe the 4 functions of management.  Then, for each of the functions describe how your goal will be achieved by the organization. This section should be approximately eight paragraphs. Four paragraphs to describe the four functions, and then four paragraphs to apply the four functions to how the organization will address your recommendation.

Getting Started

A published SWOT report or company profile is always a good starting point for your company analysis.   These reports will also provide the name of the top management executives at your company.

To Locate SWOT Reports:

• Business Insights  - From the main page in Business Insights, select a company or search for the name of your company. There are Company Profiles for 400,000+ companies, and the largest 1000 public companies have a SWOT analysis right next to the Company Overview.
• ProQuest Central  - From the main search page in ProQuest Central, type the name of your company and SWOT into the search bar. From the results, choose the relevant record

To Locate Company Profiles:

Business Market Research Collection  -  This collection includes Hoover’s Company Profiles for thousands of public and non-public companies.   From the main search page, type the name of your company and HOOVERS into the search bar.   From the results, choose the relevant record.

• Next: Company Information >>
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What is leadership?

All leaders, to a certain degree, do the same thing. Whether you’re talking about an executive, manager, sports coach, or schoolteacher, leadership is about guiding and impacting outcomes, enabling groups of people to work together to accomplish what they couldn’t do working individually. In this sense, leadership is something you do, not something you are. Some people in formal leadership positions are poor leaders, and many people exercising leadership have no formal authority. It is their actions, not their words, that inspire trust and energy.

Get to know and directly engage with senior McKinsey experts on leadership

Aaron De Smet is a senior partner in McKinsey’s New Jersey office, Carolyn Dewar is a senior partner in the Bay Area office, Scott Keller is a senior partner in the Southern California office, and Vik Malhotra and Ramesh Srinivasan are senior partners in the New York office.

What’s more, leadership is not something people are born with—it is a skill you can learn. At the core are mindsets, which are expressed through observable behaviors , which then lead to measurable outcomes. Is a leader communicating effectively or engaging others by being a good listener? Focusing on behaviors lets us be more objective when assessing leadership effectiveness. The key to unlocking shifts in behavior is focusing on mindsets, becoming more conscious about our thoughts and beliefs, and showing up with integrity as our full authentic selves.

There are many contexts and ways in which leadership is exercised. But, according to McKinsey analysis of academic literature as well as a survey of nearly 200,000 people in 81 organizations all over the world, there are four types of behavior that account for 89 percent of leadership effectiveness :

• being supportive
• operating with a strong results orientation
• seeking different perspectives
• solving problems effectively

Effective leaders know that what works in one situation will not necessarily work every time. Leadership strategies must reflect each organization’s context and stage of evolution. One important lens is organizational health, a holistic set of factors that enable organizations to grow and succeed over time. A situational approach  enables leaders to focus on the behaviors that are most relevant as an organization becomes healthier.

Senior leaders must develop a broad range of skills to guide organizations. Ten timeless topics are important for leading nearly any organization, from attracting and retaining talent  to making culture a competitive advantage. A 2017 McKinsey book, Leading Organizations: Ten Timeless Truths (Bloomsbury, 2017), goes deep on each aspect.

How is leadership evolving?

In the past, leadership was called “management,” with an emphasis on providing technical expertise and direction. The context was the traditional industrial economy command-and-control organization, where leaders focused exclusively on maximizing value for shareholders. In these organizations, leaders had three roles: planners (who develop strategy, then translate that strategy into concrete steps), directors (who assign responsibilities), or controllers (who ensure people do what they’ve been assigned and plans are adhered to).

What are the limits of traditional management styles?

Traditional management was revolutionary in its day and enormously effective in building large-scale global enterprises that have materially improved lives over the past 200 years. However, with the advent of the 21st century, this approach is reaching its limits.

For one thing, this approach doesn’t guarantee happy or loyal managers or workers. Indeed, a large portion of American workers—56 percent— claim their boss is mildly or highly toxic , while 75 percent say dealing with their manager is the most stressful part of their workday.

For 21st-century organizations operating in today’s complex business environment, a fundamentally new and more effective approach to leadership is emerging. Leaders today are beginning to focus on building agile, human-centered, and digitally enabled organizations able to thrive in today’s unprecedented environment and meet the needs of a broader range of stakeholders (customers, employees, suppliers, and communities, in addition to investors).

What is the emerging new approach to leadership?

This new approach to leadership is sometimes described as “ servant leadership .” While there has been some criticism of the nomenclature, the idea itself is simple: rather than being a manager directing and controlling people, a more effective approach is for leaders to be in service of the people they lead. The focus is on how leaders can make the lives of their team members easier—physically, cognitively, and emotionally. Research suggests this mentality can enhance both team performance and satisfaction.

In this new approach, leaders practice empathy, compassion, vulnerability, gratitude, self-awareness, and self-care. They provide appreciation and support, creating psychological safety so their employees are able to collaborate, innovate, and raise issues as appropriate. This includes celebrating achieving the small steps on the way to reaching big goals and enhancing people’s well-being through better human connections. These conditions have been shown to allow for a team’s best performance.

More broadly, developing this new approach to leadership can be expressed as making five key shifts that include, build on, and extend beyond traditional approaches:

• beyond executive to visionary, shaping a clear purpose that resonates with and generates holistic impact for all stakeholders
• beyond planner to architect, reimagining industries and innovating business systems that are able to create new levels of value
• beyond director to catalyst, engaging people to collaborate in open, empowered networks
• beyond controller to coach, enabling the organization to constantly evolve through rapid learning, and enabling colleagues to build new mindsets, knowledge, and skills
• beyond boss to human, showing up as one’s whole, authentic self

Together, these shifts can help a leader expand their repertoire and create a new level of value for an organization’s stakeholders. The last shift is the most important, as it is based on developing a new level of consciousness and awareness of our inner state. Leaders who look inward  and take a journey of genuine self-discovery make profound shifts in themselves and their lives; this means they are better able to benefit their organization. That involves developing “profile awareness” (a combination of a person’s habits of thought, emotions, hopes, and behavior in different circumstances) and “state awareness” (the recognition of what’s driving a person to take action). Combining individual, inward-looking work with outward-facing actions can help create lasting change.

Introducing McKinsey Explainers : Direct answers to complex questions

Leaders must learn to make these five shifts at three levels : transforming and evolving personal mindsets and behaviors; transforming teams to work in new ways; and transforming the broader organization by building new levels of agility, human-centeredness, and value creation into the entire enterprise’s design and culture.

An example from the COVID-19 era offers a useful illustration of this new approach to leadership. In pursuit of a vaccine breakthrough, at the start of the pandemic Moderna CEO Stéphane Bancel increased the frequency of executive meetings  from once a month to twice a week. The company implemented a decentralized model enabling teams to work independently and deliver on the bold goal of providing 100 million doses of vaccines in 12 months. “The pace was unprecedented,” Bancel said.

What is the impact of this new approach to leadership?

This new approach to leadership is far more effective. While the dynamics are complex, countless studies show empirical links among effective leadership, employee satisfaction, customer loyalty, and profitability.

How can leaders empower employees?

Empowering employees , surprisingly enough, might mean taking a more hands-on leadership approach. Organizations whose leaders successfully empower others through coaching are nearly four times more likely to make swift, good decisions and outperform other companies . But this type of coaching isn’t always natural for those with a more controlling or autocratic style.

Here are five tips to get started  if you’re a leader looking to empower others:

• Provide clear rules, for example, by providing guardrails for what success looks like and communicating who makes which decisions. Clarity and boundary structures like role remits and responsibilities help to contain any anxiety associated with work and help teams stay focused on their primary tasks.
• Establish clear roles, say, by assigning one person the authority to make certain decisions.
• Avoid being a complicit manager—for instance, if you’ve delegated a decision to a team, don’t step in and solve the problem for them.
• Address culture and skills, for instance, by helping employees learn how to have difficult conversations.
• Begin soliciting personal feedback from others, at all levels of your organization, on how you are experienced as a leader.

How can leaders communicate effectively?

Good, clear communication is a leadership hallmark. Fundamental tools of effective communication  include:

• defining and pointing to long-term goals
• listening to and understanding stakeholders
• creating openings for dialogue
• communicating proactively

And in times of uncertainty, these things are important for crisis communicators :

• give people what they need, when they need it
• communicate clearly, simply, and frequently
• choose candor over charisma
• revitalize a spirit of resilience
• distill meaning from chaos
• support people, teams, and organizations to build the capability for self-sufficiency

Learn more about our People & Organizational Performance Practice .

Is leadership different in a hybrid workplace?

A leader’s role may look slightly different in remote or hybrid workplace settings . Rather than walking around a physical site, these leaders might instead model what hybrid looks like, or orchestrate work based on tasks, interactions, or purpose. Being communicative and radiating positivity  can go a long way. Leaders need to find other ways to be present and accessible, for example, via virtual drop-in sessions, regular company podcasts, or virtual townhalls. Leaders in these settings may also need to find new ways to get authentic feedback. These tactics can include pulse surveys or learning to ask thoughtful follow-up questions that reveal useful management insights.

Additional considerations, such as making sure that in-person work and togetherness has a purpose, are important. Keeping an eye on inclusivity in hybrid work  is also crucial. Listening to what employees want, with an eye to their lived experience, will be vital to leaders in these settings. And a focus on output, outcomes, results, and impact—rather than arbitrary norms about time spent in offices— may be a necessary adaptation in the hybrid era .

How should CEOs lead in this new world?

Just as for leadership more broadly, today’s environment requires CEOs to lead very differently. Recent research indicates that one-third to one-half of new CEOs fail within 18 months.

What helps top performers thrive today? To find out, McKinsey led a research effort to identify the CEOs who achieved breakaway success. We examined 20 years’ worth of data on 7,800 CEOs—from 3,500 public companies across 70 countries and 24 industries. The result is the McKinsey book CEO Excellence: The Six Mindsets That Distinguish the Best Leaders from the Rest (Scribner, March 2022). Watch an interview with the authors for more on what separates the best CEOs from the rest .

Getting perspective on leadership from CEOs themselves is enlightening—and illustrates the nuanced ways in which the new approach to leadership described above can be implemented in practice. Here are a few quotes drawn from McKinsey’s interviews with these top-level leaders :

• “I think the fundamental role of a leader is to look for ways to shape the decades ahead, not just react to the present, and to help others accept the discomfort of disruptions to the status quo.” — Indra Nooyi , former chairman and CEO of PepsiCo
• “The single most important thing I have to do as CEO is ensure that our brand continues to be relevant.” — Chris Kempczinski , CEO of McDonald’s
• “Leaders of other enterprises often define themselves as captains of the ship, but I think I’m more the ship’s architect or designer. That’s different from a captain’s role, in which the route is often fixed and the destination defined.” — Zhang Ruimin , CEO of Haier
• “I think my leadership style [can be called] ‘collaborative command.’ You bring different opinions into the room, you allow for a really great debate, but you understand that, at the end of the day, a decision has to be made quickly.” — Adena Friedman , CEO of Nasdaq
• “We need an urgent refoundation of business and capitalism around purpose and humanity. To find new ways for all of us to lead so that we can create a better future, a more sustainable future.” — Hubert Joly , former chairman and CEO of Best Buy

What is leadership development?

Leaders aren’t born; they learn to lead over time. Neuroplasticity refers to the power of the brain to form new pathways and connections through exposure to novel, unfamiliar experiences. This allows adults to adapt, grow, and learn new practices throughout our lifetimes.

When it comes to leadership within organizations, this is often referred to as leadership development. Programs, books, and courses on leadership development abound, but results vary.

Leadership development efforts fail for a variety of reasons. Some overlook context; in those cases, asking a simple question (something like “What, precisely, is this program for?”) can help. Others separate reflections on leadership from real work, or they shortchange the role of adjusting leaders’ mindsets, feelings, assumptions, and beliefs, or they fail to measure results.

So what’s needed for successful leadership development? Generally, developing leaders is about creating contexts where there is sufficient psychological safety in combination with enough novelty and unfamiliarity to cultivate new leadership practices in response to stimuli. Leadership programs that successfully cultivate leaders are also built around “placescapes”—these are novel experiences, like exploring wilderness trails, practicing performing arts, or writing poetry.

When crafting a leadership development program, there are six ingredients to incorporate  that lead to true organizational impact:

• Set up for success:
• Focus your leadership transformation on driving strategic objectives and initiatives.
• Commit the people and resources needed.
• Be clear about focus:
• Engage a critical mass of leaders to reach a tipping point for sustained impact.
• Zero in on the leadership shifts that drive the greatest value.
• Execute well:
• Architect experiential journeys to maximize shifts in mindsets, capabilities, and practices.
• Measure for holistic impact.

A well-designed and executed leadership development program can help organizations build leaders’ capabilities broadly, at scale. And these programs can be built around coaching, mentoring, and having people try to solve challenging problems—learning skills by applying them in real time to real work.

What are mentorship, sponsorship, and apprenticeship?

Mentorship, sponsorship, and apprenticeship can also be part of leadership development efforts. What are they? Mentorship refers to trusted counselors offering guidance and support on various professional issues, such as career progression. Sponsorship is used to describe senior leaders who create opportunities to help junior colleagues succeed. These roles are typically held by more senior colleagues, whereas apprenticeship could be more distributed. Apprenticeship  describes the way any colleague with domain expertise might teach others, model behaviors, or transfer skills. These approaches can be useful not only for developing leaders but also for helping your company upskill or reskill employees quickly and at scale.

For more in-depth exploration of these topics, see McKinsey’s insights on People & Organizational Performance . Learn more about McKinsey’s Leadership & Management  work—and check out job opportunities if you’re interested in working at McKinsey.

Articles referenced include:

• “ Author Talks: What separates the best CEOs from the rest? ,” December 15, 2021, Carolyn Dewar , Scott Keller , and Vik Malhotra
• “ From the great attrition to the great adaptation ,” November 3, 2021, Aaron De Smet  and Bill Schaninger
• “ The boss factor: Making the world a better place through workplace relationships ,” September 22, 2020, Tera Allas  and Bill Schaninger
• " Leading agile transformation: The new capabilities leaders need to build 21st century organizations ," October 1, 2018, Aaron De Smet , Michael Lurie , and Andrew St. George
• " Leading Organizations: Ten Timeless Truths ," 2017, Scott Keller  and Mary Meaney
• “ Leadership in context ,” January 1, 2016, Michael Bazigos, Chris Gagnon, and Bill Schaninger
• “ Decoding leadership: What really matters ,” January 1, 2015, Claudio Feser, Fernanda Mayol, and Ramesh Srinivasan

Want to know more about leadership?

Related articles.

Reimagining HR: Insights from people leaders

What is leadership: Moving beyond the C-Suite

CEO Excellence

• List of Commerce Articles
• Nature And Significance Of Management

Nature and Significance of Management - Class 12

What is management.

Management is required for an established life and essential to managing all types of management. Sound management is the fortitude of thriving companies. Managing life implies getting everything done to accomplish life’s aspirations and maintaining an establishment means getting everything done with and by other people to deliver its objectives.

To put it in other words, the organisation and coordination of the pursuits of an industry for the idea of accomplishing determined objectives efficiently and thoroughly are marked as management.

Also, Check: 

• 5 Principles of Management
• Introduction to Management

Nature of Management:

• Universal Process : Wherever there exists human pursuit, there exists management. Without effective management, the intentions of the organisation cannot be accomplished.
• The factor of Production : Equipped and experienced managers are necessary for the utilisation of funds and labour.
• Goal-Oriented : The most significant aim of all management pursuit is to achieve the purposes of a firm. The aims must be practical and reachable.
• Supreme in Thought and Action : Managers set achievable goals and then direct execution on all aspects to achieve them. For this, they need complete assistance from middle and lower degrees of management.
• The system of authority : Well-defined principles of regulation, the regulation of proper power and efficiency at all degrees of decision-making. This is important so that each self must perform what is required from him or her and to whom he must report.
• Profession : Managers require to control managerial expertise and education, and have to adhere to a verified law of demeanour and stay informed of their human and social responsibilities.
• Process : The management method incorporates a range of activities or services directed towards an object.

Also, Explore: 

• What are the Levels of Management?
• Objectives of Management

Significance of Management:

• Achieving Group Goals: Management encourages collaboration and coordination amongst workers. A general control must be provided to the organisational and personal objectives in order to favourably accomplish the aims.
• Increases Efficiency: Management improves productivity by managing resources in a reliable conceivable way in order to decrease cost upscale potency.
• Creates Dynamic organisation: Management undertakes the conditions by assuring that these variations are well accepted privately and that objection to change is controlled.
• Achieving personal objectives: Management promotes leadership and furnishes motivation to the employees to operate effectively in order to accomplish their personal aims while working towards the organisational goals.
• Development of Society: Management helps in the enhancement of community by manufacturing reliable quality commodities, establishing employment chances and fostering innovative technologies.

Related Read:

• Functions of Management
• Henri Fayol 14 Principles of Management

Features of Management:

Post-learning a few definitions of management we come across some elements that can be referred to as basic aspects of management :

• Management is a goal-oriented method : An establishment has a predefined set of fundamental goals which are the primary basis for its being. These must be easy and explicitly mentioned. Different establishments have various goals. For instance, the aim of a retail market may be to improve sales, but the purpose of The Spastics Society of India is to allow education to children with specific requirements. Management strengthens the energies of different individuals in the company towards accomplishing these goals.
• Management is all common : The activities associated with managing a firm are familiar to all companies whether financial, cultural or civic. A petrol pump must be regulated as much as a school or a hospital. What managers do in India, Japan, Germany, or the USA is identical. How they achieve it may be considerably diverse. This variation is due to the distinctions in tradition, history and culture.
• Management is a perpetual process : The method of management is a set of consecutive, composite, but distinct purposes (organising, planning, staffing, controlling and directing). These operations are concurrently executed by all managers. The responsibility of a manager comprises a continuous series of duties.
• Management is intangible energy : It is an intangible strength that can’t be seen but its proximity can be felt in the form of the business operations. The outcome of management is remarkable in an industry where targets are reached according to procedures, employees are comfortable and content and there is arrangements rather than confusion.
• Management is a group activity : It implies that it is not a single person who completes all the actions of the industry but it is always a group of people. Therefore, management is a group endeavour.

The above mentioned is the concept, that is elucidated in detail about the Nature, Significance and Characteristics of Management for the Class 12 Commerce students. To know more, stay tuned to BYJU’S.

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• How-to Guides

Tips for Students: Writing Project Management Assignments

by MyMG Team · March 23, 2020

Is it confusing for you to kickstart the writing process for your project management assignment? Does all that jargon like sustainability strategies, project feasibility, or risk mitigation make you feel stressed?

What is the best way to highlight your challenging project management topic acceptably?

‘Phew, what a challenging paper! How can I find a professional writer to deal with these boring assignments?”

Ok, we hear you. You can do it online in a matter of minutes. In fact, assignment writing help services can take all your project management paper worries away and deliver you a custom essay or even a 5-star dissertation without any hassle for you.

Sounds fantastic? That’s exactly what they do.

“Ok, cool. Is this a reliable way to deal with my papers?” Sure. Unless you are super lazy and want to turn them in without any modifications.

“What do you mean?” If you want to avoid any troubles in your college or university and have no time/desire to write your assignment on your own, you can look for expert help online.

However, once you get a well-written paper on your topic from the expert writer in that subject area, you need to rewrite it and modify it to some extent.

If you do this, nobody will ever accuse you of cheating or plagiarism, and you’ll save tons of time instead of completing your assignment from scratch.

Now, let’s explore the top tips for writing your project management assignments.

Get Enough Time for Writing

Essay writing is an essential academic skill. To create amazing papers, it’s crucial to have a great essay writing competence. How do you get it? Through practice. Write often. Write a lot.

One of the golden rules of writing any kind of essay is to make sure you get enough time in your schedule for research and writing.

Understand that you need some time to complete the work without being in a rush. Rarely, you can come up with an exceptional essay overnight. For this, you need to be really motivated, inspired and loaded with facts, arguments, and brilliant ideas.

Of course, there needs to be adequate time for choosing a topic, doing the research, reading all the materials and taking notes, gathering the notes into a logical order to form an outline, and writing the essay. Without doing all these things, you won’t be able to submit a top-grade paper on time.

Once you finish writing your paper, you still need to put in some work. What does it mean? Your essay needs to be proofread, edited, and polished up.

Every student works at a different pace, so discovering how much time is needed is an individual thing, and the first most crucial essay writing skill.

Choosing a topic

This step is central to a knockout essay. That’s because the topic can make or break the article. Choose it carefully if you have such an opportunity. If the instructor has assigned a topic, then it is up to you to find a perfect angle on the topic to base your essay on.

Photo by Dollar Gill on Unsplash

Research and taking notes

The research phase is where the student dives into what others have written about the general topic. This step could be done before step 2 if the student needs help narrowing down the topic or the angle on the topic.

Jotting down notes during the reading and referencing the source for the notes will save tons of time later on in writing.

Forming the Outline and Writing the Essay

The notes are organized into groups that logically fit together. A description for each set is like a subheading. These can be arranged in chronological order or organized in a fashion that flows well from one idea to the next. This is the outline of the body of the essay.

Writing the essay consists of filling in the details for each of the sections in the outline. It includes writing a captivating opening paragraph and a memorable summary at the end.

Proofreading and editing

Unfortunately, this important step is often missed. Even the best essays will fail without detailed proofreading and in-depth editing.

It is best if this step is done by another person, as it is easy for a writer to overlook their own mistakes in assignment writing.

The proofreader and editor should be someone who is really good at writing, not just a neighbour or friend because they are available and free.

So now you know all the basic steps that you need to take to be able to submit a winning project management assignment on time. Don’t just sleep on these tips. Put them into work and you will see the results.

Alternatively, you may always choose a service for you to assist.

Tags: project manager student tasks writing

We are a small group of professionals specializing in project management. We wish you success in your career, business, studies, or whatever else you think is worth your time and effort—we are pleased to know that our advice is helpful.

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Resources: Discussions and Assignments

Module 1 assignment: why it matters to you.

Open Pedagogy Assignments are assignments in which students use their agency and creativity to create knowledge artifacts that can support their own learning, their classmates’ learning, and the learning of students around the world. (See this  peer-reviewed article  for more details.) The assignment on this page is aligned to the  learning outcomes of Principles of Management   and we’ve identified the module where the reading appears. All of the assignments can be created with a cell phone camera or any video recording device, Google or Word documents, and your learning management system. 

Assignment 1: Why It Matters to You

Learning outcome.

• Describe what management is

In the  first module of the course, we introduce the term management , a core concept to this course. When people talk about management, they may be referring to very different aspects. They may be talking about the people who are the managers, especially those people in strategic positions who make important decisions for the organization, such as the executive officers, president, or general manager. Or, they may be referring to the activities and functions of an organization to achieve organizational goals.

For this assignment, let’s start with what you understand about management before we begin the course. You are going to create a short video of less than two minutes explaining your own personal definition of management. You might draw on your own personal work experience or your own observations.

Using your cell phone or any other recording device, create a short video. You don’t have to edit or create a professional-grade film. You’ve most likely have done this type of recording already on social media, so feel free to use the same informal conversational tone.

Think of your audience as other students who are eager to learn about your experience and your perspective.

If you need some questions to guide your response, here are two questions to help you get started.

• What is the most important function of a good manager?
• Why does it matter to you to learn about principles of management?

A Note To Teachers:  Your students in the first term will create videos, and with their permission you can upload them into your course in order to show examples for the next term. The idea will be to have students generate content that other students can listen to and learn from with this assignment.

In our analysis of student performance, we found that students struggle with learning outcomes that build on this concept, so having students focus on what they know before they begin the course may help them with the summative quizzes. We recommend utilizing this assignment as a formative assessment where you can use the misunderstanding and errors of students as learning experiences about this concept.

• Open Pedagogy Assignment 1: Why It Matters To You. Authored by : Lumen Learning. Provided by : Lumen Learning. License : CC BY: Attribution

• Cambridge Dictionary +Plus

Meaning of assignment in English

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• It was a jammy assignment - more of a holiday really.
• He took this award-winning photograph while on assignment in the Middle East .
• His two-year assignment to the Mexico office starts in September .
• She first visited Norway on assignment for the winter Olympics ten years ago.
• He fell in love with the area after being there on assignment for National Geographic in the 1950s.
• act as something
• all work and no play (makes Jack a dull boy) idiom
• be at work idiom
• be in work idiom
• housekeeping
• in the line of duty idiom
• undertaking

You can also find related words, phrases, and synonyms in the topics:

assignment | American Dictionary

Assignment | business english, examples of assignment, collocations with assignment.

These are words often used in combination with assignment .

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Translations of assignment

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Word of the Day

a servant or someone who behaves like one by obeying someone else's orders or by doing unpleasant work for them

Renowned and celebrated (Words meaning ‘famous’)

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Assignment Problem: Meaning, Methods and Variations | Operations Research

After reading this article you will learn about:- 1. Meaning of Assignment Problem 2. Definition of Assignment Problem 3. Mathematical Formulation 4. Hungarian Method 5. Variations.

Meaning of Assignment Problem:

An assignment problem is a particular case of transportation problem where the objective is to assign a number of resources to an equal number of activities so as to minimise total cost or maximize total profit of allocation.

The problem of assignment arises because available resources such as men, machines etc. have varying degrees of efficiency for performing different activities, therefore, cost, profit or loss of performing the different activities is different.

Thus, the problem is “How should the assignments be made so as to optimize the given objective”. Some of the problem where the assignment technique may be useful are assignment of workers to machines, salesman to different sales areas.

Definition of Assignment Problem:

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Suppose there are n jobs to be performed and n persons are available for doing these jobs. Assume that each person can do each job at a term, though with varying degree of efficiency, let c ij be the cost if the i-th person is assigned to the j-th job. The problem is to find an assignment (which job should be assigned to which person one on-one basis) So that the total cost of performing all jobs is minimum, problem of this kind are known as assignment problem.

The assignment problem can be stated in the form of n x n cost matrix C real members as given in the following table: