The Functions Of Effective Management
You may have used the word ?management? thousands of times at
personal level in the context of leading a hassle-free life.
Today this term is used at commercial level too. It has entered
all spheres of human life and its popularity has reached an
unavoidable stage. This can be accounted with the needs of the
present socio-economic structure of every society. Management
has been in great practice in the recent past though it is true
that earlier it was practiced at a very subtle level. Now it has
become a profession and one of the most over-rated
characteristics in the economic sector. At personal levels also
management has become an essential virtue. This is the reason
that more people are taking tips to manage their life with
efficiency and pleasure. It cannot be denied that all this has
happened for betterment as significant progress is witnessed in
all the economic sectors as well as personal domain.
In economic terms, you can describe management as the process
of leading and directing all the parts of an organization or a
business. It is basically done through an analysis and
application of recourses (human, financial, strategic and
intellectual). Management is an art to get things done
correctly at right place and on right time. You can realize
management as a very intrinsic quality that needs to be
displayed with confidence at various extrinsic levels. There
are many organizations, institutes and consultancy firms that
offer management studies, training and tips. However, it
entirely depends upon your observation and learning ability to
make the best use of the studies. Following guidelines with
discipline is a key factor in growing as a good manager. There
can be nothing better than self coaching and it can only be
accomplished when you are confident of yourself.
Management is a skill that is polished through regular practice
and up-gradation. Understanding of the situation and determining
the advantages and disadvantages is a primary task in
management. An experienced manager will listen to suggestions
and find a well-thought solution to some issues or problems.
Management is also an art of balance between personal thoughts
and influencing factors. Apart from personal management, every
other form of management has to be directed towards group
interest. Here lies the success of a manager and organization
as a whole.
It would be beneficial to know that there are five functions of
management. They are planning, organizing, leading, coordinating
and controlling. You can understand that there is a need of
dynamism for effective management. All these functions are
directed towards the six separate branches of management that
are categorized to facilitate the studies and application of
management. Human resource, Operations management, Strategic
management, Marketing management, financial management, and
Information technology management
The one who manages various departments is called a manager.
Every person is not blessed with this art of management but he
or she can be a better manager with a disciplined approach
towards learning management. Managers are responsible for all
the planning and application of strategies. In an
organizational set-up there is a hierarchy of managers who take
care of all the management activities within and outside. CEO
(he/she is the topmost authority responsible for the success
and failure of the company. Sitting at the top of any
management, every policies and activities pass through a CEO.
Understanding the work of a CEO can give a complete insight to
a management activity. Vice president, marketing (he or she is
responsible for marketing strategies, advertising, promotions,
sales, product management and pricing), Marketing managers and
Promotion managers follow the footsteps of a CEO.
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