Management is the coordination and administration of tasks to achieve a goal. Such administration activities include setting the organisation’s strategy and coordinating the efforts of staff to accomplish these objectives through the application of available resources. Management can also refer to the seniority structure of staff members within an organisation.
To be an effective manager, you’ll need to develop a set of skills, including planning, communication, organization and leadership. You will also need extensive knowledge of the company’s goals and how to direct employees, sales and other operations to accomplish them.
Some people study management at colleges or universities; major degrees in management include the Bachelor of Commerce (B.Com.) Bachelor of Business Administration (BBA.) Master of Business Administration (MBA.) Master in Management (MSM or MIM) and, for the public sector, the Master of Public Administration (MPA) degree.
Individuals who aim to become management specialists or experts, management researchers, or professors may complete the Doctor of Management (DM), the Doctor of Business Administration (DBA), or the Ph.D. in Business Administration or Management. There has recently been a movement for evidence-based management.
In general, there are five basic functions of a manager: Setting objectives, Organising, Motivating the team, Devising systems of measurement and Developing people.
Setting objectives - Setting and achieving objectives is the primary way a manager accomplishes and maintains success. They must also be able to convey them to their staff or employees in a compelling manner. For instance, a restaurant manager could state they want to improve service times and remind employees that faster service increases revenue and tips.
Organising - Managers evaluate the type of work, divide it into achievable tasks and effectively delegate it to staff. Organisation consists of a series of relationships among individual staff as well as departments or entities inside the organisation. It is the manager’s responsibility to ensure that these individuals and entities work together in harmony, which includes motivating staff members and departments to stay on task.
A good manager is skilled at building interpersonal relationships among their team members and can troubleshoot when members confuse their encounter challenges.
Organisation also requires a manager to establish relationships of authority among their team members. Maximising organisational arrangements can help businesses enhance the company’s efficiency in the market, reduce the costs of business and improve productivity.
Motivate the team - In addition to the tasks of organisation and delegation, motivation includes having the skills to handle different types of personalities in a team. An effective manager must know how to form and lead successful teams and know how to galvanise team members around a cause.
Analysts who study management have identified several effective leadership styles. There is no one best style of management, and some people will feel more personally suited to one type or another. You can also select elements of different styles of management to create the best archetype for you and your company.
The three main management styles are: Persuasive management style, Democratic management style and Laissez-faire management.