Todays environment is diverse, dynamic and ever-changing Organizations need managers who can build networks and pull

people together Managers must motivate and coordinate others Managers are dependent upon subordinates .They are evaluated on the work of others Managers have to cope with diverse and far-reaching challenges To keep pace with ever-advancing technology To find ways to incorporate the Internet and e-business into their strategies and business model Strive to remain competitive in a dynamic and far reaching world
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Managers must focus on innovation to stay competitive

In a hypercompetitive, global organizations must innovate more Innovations may include: New products, services, technologies Controlling costs Investing in the future Corporate values
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environment,

Managers are the executive function of the organization

Building and coordinating an entire system

Create systems and conditions that enable others to perform those tasks Create the right systems and environment, managers ensure that the department or organization will survive and thrive Recognize the key role of people

The art of getting things done through people Mary Parker Follett Give direction to their organization, provide leadership, and decide how to use organizational resources to accomplish goals -Peter Drucker
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Management is the attainment of organizational goals in an effective and efficient manner through planning, organizing, leading, and controlling organizational resources.

Increase Profits Minimization of Cost ( to combat rising competition) Environmental Changes /to meet the challenges of change

Smooth running of Business

Social Benefits Optimum utilization of Resources( 6 Ms) Provides Innovation Achievement of Group Objectives

Planning: Identifying goals and resources or future organizational performance. Organizing: Assigning tasks, delegating authority and allocating resources.

Leading: The use of influence to motivate employees to achieve goals. Controlling: Monitoring activities taking corrective action when needed. and

Planning
Determining organizational goals and means to reach them Managers plan for three reasons
1. Establish an overall direction for the organizations future 2. Identify and commit resources to achieving goals 3. Decide which tasks must be done to reach those goals

Organizing means assigning the planned tasks to various individuals or groups within the organization and cresting a mechanism to put plans into action.

Leading

Leading (Influencing) means guiding the activities of the organization members in appropriate directions. Objective is to improve productivity.

Getting others to perform the necessary tasks by motivating them to achieve the organizations goals

Crucial element in all functions

1. Gather information that measures recent performance 2. Compare present performance to pre-established standards 3. Determine modifications to meet pre-established standards

Controlling
Process by which a person, group, or organization consciously monitors performance and takes corrective action

Organization - social entity that is goal directed and deliberately structured

Effectiveness - degree to which organization achieves a stated goal

Efficiency - use of minimal resources (raw materials, money, and people) to produce the desired volume of output Performance organizations ability to attain its goals by using resources in an efficient and effective manner

Conceptual Skills cognitive ability to see the organization as a whole system

Human Skills the ability to work with and through other people Technical Skills the understanding and proficiency in the performance of specific tasks