Management 201 - Principles of Management

INTRODUCTION, MANAGEMENT CONCERNS AND CHALLENGES

Manager -conducts/overseas the work of others

-so management objectives are achieved

Classification of Managers
1.First Line Managers -manages work of non-managerial employees.
-supervisors, shift managers
2. Middle Managers -manages the work of first-line managers
-ex. Sales Manager, Operations Managers
3. Top Managers -Decision Makers
-plans and goals of the company

Managers work for efficiency and effectiveness

Efficiency -getting the most output from the least input
Effectiveness -“doing the right things”

Management Functions (POLC)

1.Planning -set goals, establish strategies, integrate and coordinate activities
2.Organizing -determine what tasks are to be done
-who will do it
-how tasks are grouped
3.Leading -work with through people
4.Controlling -evaluation of whether things are going as planned

5 M’s of Management
1.Man -effective and efficient human resources
2. Money -financial resources
3. Materials -raw materials
4.Machines -tools and equipment
5. Methods -systems

Management’s Concern
1.Resources (human, Materials
2.Financial
3.Stakeholders
-customers
-company owners
-all three is called The Triangle Management’s Concern

1.Resources
-People (staff, workers
-system (applications, policies. and standards
-tools (machines, equipment, hardware and infrastructures)
-materials & supplies
2.Financial
-revenue and income
-expenses
-budget - estimated allotment of funds
-allocation - share or portion of funds
 3. Stakeholders
-sponsors - owners and decision makers
-bosses, managers, supervisors
-client - a person or group buying the services and benefits of the project
-customers - a person who purchase the tangible goods

MANAGING DIVERSITY
-bringing together people of different ethnic background, religions, age group into a
cohesive or productive unit

HOW TO MANAGE DIVERSITY

1.Personnel Policies from hiring to promotion are based on employee performance
2.Rate qualifications based on experiences not on age or others.
3.Encourage diversity when creating teams and special group work
4.Treat complaints of favouritism or discrimination seriously
5.Hold quarterly trainings for the benefits of diversity
-encourage discussions at these meetings