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Add To What You Know (1)
Prepared by: "Optimanage.com" Team
What is a Manager's Task?
A manager's task includes the following:| Staffing | Motivating | ||
| Organizing | Planning | ||
| Leading | Coordinating | ||
| Controlling | Goal Setting | ||
| Delegating | Achieving Results | ||
| Decision Making Problem Solving |
Management Theories
There are three (3) basic theories in management:- Theory-X: It considers the worker lazy and needs close managerial supervision.
- Theory-Y: It says that people enjoy work and will work well when fairly rewarded.
- Theory-Z: It puts emphasis on achievement of the group – not the individual. (Japan).
Scientific Management
Frederick W. Taylor (1856-1915) is considered the father of Scientific Management. He broke jobs down into smaller tasks to understand them and improve worker’s efficiency. That was his method to determine the "One Right Way" to perform a job.Decision-Making
Decision-Making Process is a sequence of steps management undertakes to solve any managerial problem. This process involves the following:Problem Identification
Generating Alternative Solutions
Analyzing Consequences of Each Solution
Selecting the Most Appropriate Solution
Implementing the Chosen Solution
Evaluating the Results
Feedback
Organizing
Businesses Organize for the purpose of reaching their goals and objectives. Deciding on goals and objectives come from the will of the business to meet and satisfy customers’ needs, that is, the marketplace.Keep in mind the next two statements when Organizing:
- Structure follows Strategy.
- The reason for management to support organizing is: planning.
Human Resource Management
Human Resource (HR) Management deals with the management of people (personnel). Its function includes:| Separation | Performance Appraisal | |
| Safety | Industrial Health |
Equal Employment Opportunity
| Recruitment | Selection | |
| Compensation | Training | |
| Development | Research & Audit |
Break-Even Analysis
Break-Even Analysis is a term used in Production and Operations Management (POM). It is a managerial technique used in planning to determine the minimum number of units of sales required to pay the total costs of producing and selling a product. This minimum number is known as the Break-Even Quantity (BEQ). Determining the BEQ uses Fixed and Variable Costs as well as the Piece of the product.References:
(1) Patrick J. Montana and Bruce H. Charnov, “Management”, Business Review Books, Third Edition, Baron’s (2000).
