Fundamentals of Management: Introduction and Concepts

FOM: Introduction and Concept

Management represents the scientific as well as artistic approach that brings different individuals together to achieve their goals by effectively coordinating all available resources. The process consists of planning organizing leading and controlling as activities for reaching organizational goals in a series of ongoing activities.

The management discipline performs a series of continuing processes that achieve targets through activities spanning from planning to organizing and leading and control functions. Through effective and efficient integration management combines human resources with financial assets and physical elements and information-based resources.

Different definitions exist for the management concept in workplace terminology. An organization practicing management follows a system of planning, organizing, staffing, directing, coordinating and controlling. The term management describes both the leadership method for human resources management and the established knowledge base and practice framework as well as the established discipline. Different groups understand management as either a leadership approach and decision-making method or an economic tool or production element or a system for establishing authority.

⭐ Definitions

Multiple definitions of management will be explained below:

→ Art of Getting Things Done

Mary Parker Follett

Managing requires the expertise of using people to complete projects. According to Follett management represents a practical method which allows managers to lead workforce activities toward enterprise success.

Harold Koontz

Managers obtain organizational objectives by leading formal groups of people to complete tasks. Koontz identifies management as a practice which attains organizational work goals through team-oriented interactions among employees.

J.D. Mooney and A.C. Railey

Direction and inspiration of people form the essence of proper management practice. According to Mooney and Railey management requires both the direction of organizational operations and the ability to inspire workers for maximum performance toward organizational objectives.

→ Management as a Process

A process nature assigns to management because managers perform ordered functions to maximize material along with human strategic elements that lead to objective fulfillment. Multiple organizational functions include planning, organizing, staffing, directing and coordinating with controlling activities.

Henry Fayol

The task of management involves both forecasting and planning activities in addition to organizing functions along with command and coordination and control elements. According to Fayol management functions as an organized procedure including planning activities along with organizing and commanding stages and coordination and controlling elements. Different contemporary authors choose to eliminate coordination as an individual management activity.

George R. Terry

The process of management includes planning and organizing followed by actuating and controlling such actions which use human resources to reach stated objectives. Terry established four essential functions but current management classifications separate these into five distinct parts.

→ Art and Science of Decision-Making and Leadership

Decision-making as well as leadership functions represent fundamental elements of management. Managers continuously evaluate various situations throughout the day to maintain business operations while developing motivational leadership methods for their employees.

Donald J. Clough

Managers must direct their decisions alongside their leadership qualities to practice management effectively. Clough defines management through effective leadership that produces decisions which trigger productive outcomes while inspiring less senior colleagues.

Rose Moore

“Management means decision-making.” Decision-making stands paramount in management practice according to Moore however other functions also matter.

Stanley Vance

The process of decision-making combined with human action control leads to goal accomplishment in management. In his definition Vance emphasizes that managers make decisions alongside exercising control measures to meet their goals.

→ Management as a Group of Managers

The term management generally indicates the managerially skilled personnel who monitor enterprise business operations. If we say that business management functions efficiently then we are referring to the company executive team that operates the organization. As an entity termed “body of managerial personnel” this group fulfills various responsibilities that entail planning, organizing, staffing, directing and controlling functions.

Key Points:

• Managerial Functions: Managers collectively perform planning, organizing, staffing, directing, and controlling.
• Top Management: The term “management” usually refers to top management, which focuses on setting objectives, strategic planning, policy formulation, and overall control of the organization.