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Chapter 1 management: Science, Theory, and Practice
Definition of management: its nature and purpose
Management is the process of designing and maintaining an environment in which individuals, working together in groups, efficiently accomplish selected aims.
The Functions of Management
The five managerial functions around which managerial knowledge are organized are:
Planning, organizing, staffing, leading, controlling.
Universal need for management
Managerial Functions at Different Organizational Levels
No basic distinction is made between managers, executives, administrators, and supervisors
All managers carry out managerial functions. However, the time spent for each function may differ
Time Spent in Carrying Out Managerial Functions
Managerial Skills and the Organizational Hierarchy
The four skills for administrators are:
Technical; Human; Conceptual; Design skills
Skills and management levels
The Goals of All Managers and Organizations
The aim of all managers should be to create right! a surplus!
But how?
Managers must establish an environment in which people can accomplish group goals with the least input.
(i.e. amount of time, money, materials, and personal dissatisfaction.)
Characteristics of Excellent and Most Admired Companies (Peters Waterman)
These firms:
Were oriented toward action
Learned about the needs of their customers
Promoted managerial autonomy and entrepreneurship
Achieved productivity by paying close attention to the needs of their people
Were driven by a company philosophy often based on the values of their leaders
Focused on the business they knew best
Had a simple organization structure with a lean staff
Were centralized as well as decentralized, depending on appropriateness
Advances in Technologies, Trends in Globalization, and a focus Entrepreneurship for Adapting to Changes in the 21st Century
To be successful in the 21stCentury, companies must take advantage of the new information technology-especially the Internet–Globalization-and
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