- The pursuit of organizational goals efficiently and effectively by integrating the work of people through planning, organizing, leading and controlling the organization's resources.
- To be efficient means to use resources ( people,money, raw materials and the like) wisely and cost-effectively.
- To be effective means to achieve results, to make the right decisions, and successfully carry them out so that they achieve the organizational's goals.
The Functions of Management?
- Planning : You set goals and decide how to achieve them
- Organizing : You arrange task, people and other resources to accomplish the work
- Leading : You motivate, direct and otherwise influence people to work hard to achieve the goals
- Controlling : Monitoring performance and deciding whether or not it is good toward the goal and how to fix it
Levels of Management?
- Top Managers (CEO) - Making decisions for the long term goals for the company.
- Middle Managers (Director, and General Managers) - Implementing policies Top Managers pass down.
- First-line Managers (Supervisors, Co-Manager, Assistant Manager, Team lead) - Delegates daily tasks and short term task.
Areas of Management?
- Functional Manager : Works over a specific area
- General Manager : Works over a larger area
Types of Organizations?
- For profit : Work toward making money ( Walmart and others mart)
- Nonprofit : Work toward making no money (Hospitals, colleges)
- Mutual benefit : Exists to provide benefit to itself and it's members only (political parties, labor unions)