Management happens to be a crucial aspect of life. It means the process of organizing, assimilating and sorting resources to achieve organizational goals.
Impeccable management would help to harness physical, human and informational resources. Management is an art, science and a spectacular discipline which exercises a great influence on the economy, business and workspace.
It is an important field of study and students are interested in pursuing the subject to achieve mastery. There are various management courses available which can be pursued in top-notch colleges.
Interestingly, in today’s world, top-notch management in all spheres has become important. The nitty-gritty of extra-ordinary management has been described lucidly in the article.
Definition of Management
Interestingly, professional management thinkers have provided different definitions of management. These elaborate statements explain the subject properly.
Good quality work combined with effective time management skills is the essence of management.
Some define it as a smart and innovative way to achieve maximum goals in a short period. It is an extraordinary process to achieve organizational objectives through the minimum use of resources.
It also comprises of elements like finance and marketing. Planning, organizing and controlling are the main functions of an impeccable management system.
In addition to this, some other thinkers opine that management is the impeccable process of getting work done from people by encouraging them and bringing out the best in them.
Types of Management
Management is divided into many parts which talk about the specific uses of the subject. Each branch shows a different picture of management which highlights its indispensable nature.
- Strategic Management
It focuses on developing a competitive edge over other businesses. The firms devise strategies to help them achieve entrepreneurial success and mileage.
Moreover, it equips the company to handle changes and become pro-active. It develops the core competencies and ensures the long-term survival of the businesses.
- Human Resources Management
This deals with the building an effective work atmosphere for the employees and gauge their progress chart. The HR Manager looks after the process of hiring, training and rewarding the employees.
The HR Manager plays a crucial role in ensuring the company’s success and growth. His/ her main function is to maximise employee productivity and organize orientation programs for new employees.
- Quality Management
This area ensures the quality and maintains top-notch levels of work in the business. It focuses on improving the overall performance of companies and reaches new heights of excellence.
Assessing quality improves the productivity of work and helps employees give their all to achieve good results.
- Knowledge Management
Knowledge is important for an economy to develop and scale a great height of perfection. It highlights the importance of management, distribution and representation of knowledge.
It is important for a knowledge-driven economy to focus on its development. Moreover, it encompasses the assimilation and organization of knowledge. It also deals with providing the right knowledge to the right set of people.
- Educational Management
It deals with the planning, organization and execution of school activities. The area also encompasses ways to design a better curriculum and syllabus to ensure students’ success.
The human and material resources have to be optimized to fulfil educational objectives and ensure impeccable learning.
Interestingly, it concerns with the operation of an educational organization. It includes ways of dealing with student behaviour and building their personality.
Overview of Management Styles
Management styles help achieve a perfect work atmosphere and build cordial relationships among colleagues.
The right management approach would bridge the gap between employers and employees and achieve job satisfaction.
- Democratic Management Style
It makes employees take decisions and have a say in the business. It involves extensive communication from employers and employees.
Moreover, the skills set of different employees help complete a project successfully. This management style helps to streamline the decision-making process and achieve enormous success.
This style fosters an amicable relationship among the employees. It provides no room for animosity and ill-feeling.
- Persuasive Management Style
In this management style, the employers make important decisions and the employees are subdued in voicing their opinion. They have to take the employers’ orders and act accordingly.
Moreover, the managers lead by example and make important business deals. In this style, the manager has the final say in everything which creates disparity among the employees.
Popular Management Courses
There are several management courses which chisel the knowledge and provide a better insight into the field.
- Project Management Professional Course
The course helps students develop effective project organization skill. The demand for project management professionals has increased over the past years.
Project Management is a new concept which involves the skill of getting projects completed with equal contribution of all members. It involves effective communication with no disagreements or conflict.
To pursue this course a person must have project leadership experience or a bachelor’s degree.
- Certified Management Consultant Course
The course is necessary for a person planning to become a management consultant. A management consultant advices the companies regarding innumerable things.
A student has to take the oral and written exam and get his/her certificate renewed annually.
- Internal Company Training Programmes
This programme helps develop the necessary skill set among people aspiring to join the line of management. It helps people get talented and industrious workers recruited into the field who have the ability to do impeccable work.
Colleges in the USA to pursue Management courses
There are many good colleges in the USA which offer management courses. The excellent teaching practices and the conducive environment for academics ensure students’ success.
- Wharton School of Business – University of Pennsylvania
It is one of the most preferred colleges to pursue management courses which provide a holistic understanding of the subject. The highly qualified staff and impeccable curriculum help in shaping the students.
The institution is known for producing well-qualified business graduates who would become successful businessmen.
- Stanford Graduate School of Business
It offers joint or dual degree programs for students. Interestingly, the institution has got good reviews for the excellent teaching methods.
- Yale School of Management – Yale University
The college has various courses which hone the analytical and quantitative skills of students. It is a reputed institution known for producing well-educated people.
Importance of Management
Management is important as it fosters good work ethics and extraordinary business practices. It has many advantages which are as follows:
It controls the resources of man and capital and converts it into an organized enterprise. The process of directing group efforts to achieve pre-determined goals is important.
Interestingly, management helps in optimization of resources. It helps select the next alternate source and work towards fulfilling the objectives. It reduces human effort and provides the best results within a short period.
A sound organizational structure can be achieved by impeccable management. It helps in choosing the right people and carry out important tasks.
Moreover, it helps any organizational structure to maintain its equilibrium. It promotes business growth and ensures that company changes with the times to keep abreast of events in the market.
Better management would yield economic productivity which would lead to the welfare of people. An excellent standard of living is achieved by good management skills.
Principles of Management
Henri Fayol describes fourteen principles of management. Some of the principles have been explained below:
- Division of Labour
The work needs to be divided and assigned to people with the required repertoire of skills needed for the tasks.
The process of assigning specific work ensures quality work and increases the efficiency of people.
Recognizing the strengths and weaknesses of the employees helps them complete the tasks properly within a deadline.
- Principle of having one boss
Having a single boss is good as he/she designates work to the people. An employee must receive orders from one person at a time to ensure good work.
Too many bosses would lead to confusion deteriorating the work quality. It becomes chaotic when two people do not agree with each other on the same issue.
- Fair remuneration
Workers must be well-paid for the services they render. A good pay package provides intrinsic motivation to the people to work diligently and give their best.
In addition to this, some perks could also be of great value to the employees. An equal pay package would uphold egalitarian ideals and create job security and satisfaction.
It would encourage people to live a life of dignity and not envy people having more salary than them.
- A stable tenure
The tenure of the employees must be set according to their quality of work and capacity to work for a long time. Before recruiting a person his/her terms and conditions must be decided.
Along with this, a contract must be signed in which the work details must be mentioned. All the important negotiations should be done before.
Levels of Management
This refers to the hierarchy in the managerial positions which ensures good work ethics and better productivity. There are mainly three levels of management which are important for all businesses.
- Top Level/Administrative Level
This is the topmost position occupied by chief executives and the managing director. Their command is to be followed by the employees and things have to execute as per their will.
It lays down the objectives and goals of the company. Moreover, the activities of all the other departments are controlled and supervised by them. It is also responsible for the shareholders for the growth of their company.
- The Middle Level of Management
This position consists of branch managers and department managers. They carry out the plans of the organization and coordinate the activities within the department.
In addition to this, they also encourage employees below them to perform better and remain motivated.
They evaluate and send reports regarding the company’s performance and progress chart to their bosses.
- The Lower Level of Management
This level consists of supervisors, foremen and section officers who assign tasks to the workers.
In addition to this, they also prepare periodical reports and communicate workers’ issues to the higher authority.
Various Management skills
There are different management skills which are required to be able to do high-quality work.
- Technical Skills
This set of skills requires operating computer, machines and software. Moreover, it includes strategies to boost sales and market different products and services.
A person must also know the ABC of different equipment in the company and the production tools.
- Conceptual Skills
This includes abstract thinking and formulating ideas. Problem-solving and developing quick solutions are important in the workplace. The ability to visualize things and carry them out effectively is a preferred skill.
Moreover, a person bestowed with this skill set would know the way to foresee the company’s future. His/her interpretation would help companies to prepare themselves for circumstances ahead.
- Human/Personal Skills
Peoples’ skills are important to establish a good work atmosphere. A manager must know the ability to get the work done without much ado.
In addition to this, communication skills are important to establish a rapport among employees and employers.
It also includes ways to optimally utilize the human potential and increase work efficiency. At the same time, it is important to receive employees’ inputs on all projects.
To sum it up, the various aspects of management highlight its importance in our lives. It seems to be a cornerstone of an efficient business or organization. It helps achieve pre-determined goals and objectives. Impeccable management elevates the productivity of work and makes people adept at their job. The different types of management help to upgrade a specific area and foster growth.
Rawi E. Abdelal is an author par excellence. He possesses immense knowledge about the field of management and knows the basics inside out. He has written many books on the topic which provide an insight into extra-ordinary management practices. Moreover, A professor of international management and Ph.D. in Government from Cornell University. His writing excerpts are often critically assessed by renowned scholars and professionals. They find his samples to be well-written and informative.