UNIT 1: MANAGEMENT

Management: The process used to accomplish organizational goals through

planning, organizing, leading, and controlling people and other organizational
resources.
Manager: An individual who is in charge of a certain group of tasks, or a certain
area or department of a business.
Chief Executive Officer: The most senior manager responsible for the overall
performance and success of a company.
Planning: A management function that includes anticipating trends and
determining the best strategies and tactics to achieve organizational goals and
objectives.
Organizing: A management function that includes designing the structure of the
organization and creating conditions and systems in which everyone and
everything work together to achieve the organization's goals and objectives.
Leading: Creating a vision for the organization and guiding, training, coaching,
and motivating others to work effectively to achieve the organization's goals and
objectives.
Controlling: A management function that involves establishing clear standards to
determine whether or not an organization is progressing toward its goals and
objectives, rewarding people for doing a good job, and taking corrective action if
they are not.
Consultant: a person who provides expert advice to a company
Crisis: a situation of danger or difficulty
Innovation: a new idea or method
Objective (noun): something you plan to do or achieve
Promotion: when someone is raised to a higher or more important position
Public sector: the section of the economy under government control
Strategy: a plan for achieving success
Subordinate: a person with a less important position in an organization
1. What is a manager?
A manager is a person in an organization who is responsible for carrying out the
four functions of management, including planning, organizing, leading and
controlling.
2. What can a manager do with the subordinates when considering their
performance, and behaviors?
A manager has the authority and power to hire, promote, discipline and fire
employees based on those behaviors and performance.
3. What is a leader?
A leader is someone who shows passion and personal investment in the success of
his or her followers reaching their goals.
4. Why is it possible for anyone to become a leader?
Because the basis of leadership is on the personal qualities of the leader. People are
willing to follow the leader because of who he or she is and what the leader stands
for, not because they have to due to the authority bestowed onto him or her by the
organization.
5. How is a manager different from a leader?
A manager holds a management position and therefore has the authority bestowed
onto him or her by the organization. Subordinates do not have a choice but to listen
to the demands and wishes of their managers. A leader doesn't have to hold one. A
leader has no formal, tangible power over their followers. Power is awarded to the
leader on a temporary basis and is contingent upon the leader's ability to continue
to motivate and inspire followership.
6. What are the five common roles of a manager? Explain them briefly.
Planning: Setting aims and targets for the organization.
Organizing: Managing people and resources effectively towards achieving the aims
of the organization. Making sure staff do not perform overlapping tasks.
Coordinating: Bringing people and departments together so that they work towards
common aims.
Commanding: Managers are more like to guide, lead and supervise people than just
tell them what to do.
Controlling: Checking that the original aims are being met and appraising staff.

MBO – Management by objectives

Definition of MBO:
Management by Objectives (MBO) is a strategic approach to enhance the
performance of an organization. It is a process where the goals of the organization
are defined and conveyed by the managers to the members of the organization with
the intention to achieve each objective.
Benefits of MBO:
Management by objectives helps employees appreciate their on-the-job roles and
responsibilities.
The Key Result Areas (KRAS) planned are specific to each employee, depending
on their interest, educational qualification, and specialization.
The MBO approach usually results in better teamwork and communication. It
provides the employees with a clear understanding of what is expected of them.
The supervisors set goals for every member of the team, and every employee is
provided with a list of unique tasks.
Every employee is assigned unique goals. Hence, each employee feels
indispensable to the organization and eventually develops a sense of loyalty to the
organization.
Managers help ensure that subordinates' goals are related to the objectives of the
organization.
Key ideas of MBO:
Management by Objectives (MBO) is an approach adopted by managers to control
their employees by implementing a series of concrete goals that both the employee
and the organization aim to accomplish in the immediate future and work
accordingly to achieve.
The MBO approach is implemented to ensure that the employees get a clear
understanding of their roles and responsibilities, along with expectations, so that
they can understand the relation of their activities to the overall success of the
organization.
If the management by objectives strategy is not adequately set, decided upon and
controlled by organizations, self-centered workers can be likely to misinterpret
results, wrongly portraying the achievement of short-term, narrow-minded goals.

Task 1: Controlling is a management function that ensures organizational

goals are met by monitoring performance and implementing corrective
actions. While it is essential for maintaining standards, it can also be seen as
restrictive by employees.
Examine the role of controlling in management and how it affects both
organizational performance and employee morale.
Your examination should include the advantages and potential disadvantages of the
controlling function, supported by examples from your Business Studies Course.
Among the five functions of management, controlling plays a highly
important role in any organization. Controlling includes evaluating the work of all
individuals and groups as well as implementing corrective actions when needed to
make sure that organizational goals are on target. Although it is essential for
upholding standards, employees may view it as restrictive. This essay will briefly
examine the role of controlling in management and shed light on the way it affects
both organizational performance and employee morale.
In business, controlling can be known as a never-ending task of
management, in which managers mainly focus on the original aims of the
organization. Controlling can be done by regularly checking performance across
departments. Thus, controlling helps coordinate efforts between different sectors of
the organization, ensuring better teamwork and goal alignment. This can help
increase productivity, improve the quality of work, and reduce operational costs.
However, when controlling becomes excessively strict, it can slow down decision-
making processes, resulting in delays and lowering overall performance.
In addition, through the controlling function, managers have the opportunity
to recognize the employees’s high performance and provide positive feedback to
help them improve. This boosts morale, as employees appreciate acknowledgment
and guidance from the seniors. In contrast, employees may feel that continuous
monitoring reflects a lack of trust. This can lead to low morale and even conflict
between managers and subordinates.
In conclusion, controlling acts as a consultant or an analyst in management.
An organization without proper control may struggle to maintain a cohesive
strategy and have difficulty aligning goals, causing operational challenges and a
lack of cohesion in day-to-day activities. Proper controlling systems are the
foundation of any successful business as well as the key to taking the business
forward.