Question

Definition of Management—difference between effective and efficient What are the 4 functions of Management? (Planning, Organizing, Leading and Controlling) Rewards and challenges of being an exceptional manager Levels of Management—Define the 4 levels of management and tasks of a manager at each level

Answer 1

Answer:

Management is defined as the pursuit of organizational goals efficiently and

effectively by, integrating the work of people through planning, organizing,

leading, and controlling the organization’s resources.

The difference between effectiveness and efficiency can be summed up as follows:

efficiency in business relates to how much of a product or service is produced in a given time-frame while effectiveness is a measurement of quality.

For example, an effective employee whose target is to produce 5 clothes a day always meets or exceeds this target, while an efficient employee meets the target in record time with minimal costs to the company. By combining effectiveness and efficiency, a company produces better products faster and with fewer resources.

The four functions of Management are:

Planning, Organizing, Leading and Controlling.

1. Planning: This is the role of management that speaks to setting objectives and determining a course of action for achieving those objectives. It requires that managers be good decision makers. There are different types of plans. For example, Strategic Planning, Tactical Planning, Operational Planning.

      2. Organizing: This function relates to the development of an organizational structure, and  the allocation of human resources to ensure the accomplishment of stated objectives. The structure of the organization is the framework within which effort is coordinated.

3. Leading: This speaks to  the social and informal sources of influence that a manager uses to inspire action taken by others.  If managers are effective leaders, their subordinates will be enthusiastic about exerting effort to attain organizational objectives.

4. Controlling: This involves ensuring that performance does not deviate from agreed standards. Controlling consists of three steps, they are:

a) establishing performance standards,

b) comparing actual performance against standards, and

c) taking corrective action(s) where and when necessary.

The four levels of management and tasks of a manager at each level are given below

a Top-Level Management

Top-level managers determine broad strategic strokes for the organization in general, and focus on the big picture. The primary role of the executive team, or the top-level managers, is to look at the organization as a whole and derive broad strategic plans. Top-level management roles are therefore often high stress and high influence roles within the organization.

b. Middle-Level Management

Middle management is the intermediate management level accountable to top management and responsible for leading lower level managers. Middle management is the intermediate leadership level of a hierarchical organization, being subordinate to the senior management but above the lowest levels of operational staff. For example, operational supervisors may be considered middle management.

A middle manager’s role may include:

• Executing organizational plans in conformance with the company’s policies and the objectives of the top management;
• Defining and discussing information and policies from top management to lower management;
• Most importantly, inspiring and providing guidance to lower-level managers to assist them in performance improvement and accomplishment of business objectives.

A middle managers’ roles may include several tasks depending on their department. Some of their functions are as follows:

• Designing and implementing effective group work and information systems
• Defining and monitoring group-level performance indicators
• Diagnosing and resolving problems within and among work groups
• Designing and implementing reward systems
• Supporting cooperative behavior
• Reporting performance statistics up the chain of command and, when applicable, recommending strategic changes

c. Frontline Management

Frontline management balances functional expertise with strong interpersonal skills to optimize specific operational processes.

Responsibilities of a front-line manager usually comes in two flavors. The first is the expertise required to do whatever it is they are managing. If we are talking about an accounting manager, they must be able to balance the books and understand enough of everyone’s specific function to fill the gaps.

On the managerial side, front-line managers are often tasked with hiring, assessing performance, providing feedback, delegating functional tasks, identifying gaps, maximizing efficiency, scheduling, and aligning teams.

d. Functional Management

A functional manager is a person who has management authority over an organizational unit—such as a department—within a business, company, or other organization.

Functional managers have ongoing responsibilities and are not usually directly affiliated with project teams, other than ensuring that goals and objectives are aligned with the organization’s overall strategy and vision.

Cheers!

Answer 2

Answer:

1. Management can be defined as the organization and coordination of the activities of a business in order to achieve set objectives. Management consists of the interlocking functions of creating corporate policy and organizing, planning, controlling, and directing an organization's resources in order to achieve the objectives of that policy.
2. While efficiency is the state of attaining the maximum productivity, with least effort spent, effectiveness is the extent to which something is successful in providing the desired result.
3. Functions of Management

• Planning is concerned with defining goals for a company's future direction and determining the missions and resources to achieve those targets. To meet objectives, managers may develop plans, such as a business plan or a marketing plan.
• Organizing is the assigning of tasks, grouping tasks into departments, delegating authority, and allocating resources across an organization. During the organizing process, managers coordinate employees, resources, policies, and procedures to facilitate the goals identified in the plan.
• Leading cab be defined as the use of influence to motivate employees to achieve organizational goals" (Richard Daft). Managers must be able to make employees want to participate in achieving an organization's goals.
• Controlling can be defined as that function of management which helps to seek planned results from the subordinates, managers and at all levels of an organization. The controlling function helps in measuring the progress towards the organizational goals & brings any deviations, & indicates corrective action.

Rewards and challenges of being an exceptional manager

Challenges

• Effective Communication With Your Employees
• Shifting Your Mindset Along With Your New Role
• Pressure To Perform As A Manager
• Shifting From Coworker To Boss
• Managing Your Time
• Setting Clear Goals And Expectations
• Encouraging Productivity
• Hiring For Your Team
• Firing An Employee
• Asking For Help

Rewards

• You and your employees can experience a sense of accomplishment.
• You can stretch your abilities and magnify your range.
• You can build a catalog of successful products or services.
• Surpassing target goals through diligent work process coordination

Levels of Management

• Top level
• Middle level
• Front-line
• Team leader

Top level:   They are senior executives responsible for the overall mgmt and effectiveness of the organization.

Tasks: They hold responsibility for controlling and overseeing the entire organization. They develop goals, strategic plans, company policies, and make decisions on the direction of the business. In addition, top-level managers play a significant role in the mobilization of outside resources.

Middle level: Managers located in the middle level of the organization hierarchy that reports to top level executives.

Tasks: Interpreting Policies, Preparing Organisational Set-up, Appointing Employees, Issuing Instructions, Motivating Employees, and Creating Cooperation

Front-line: Managers who are closest to the core business processes of an organization. In many cases, this means customer-facing activities such as sales and customer service.

Tasks: They represent the face or voice of the business, are the first to interact with customers and are expected to be ambassadors of the business

Team leader: Manager that provides direction, instruction, or guidance to a group of people to achieve certain results, often while working alongside them.

Tasks: Coach team members, Develop team strengths and improve weaknesses, Identify team goals and evaluate team progress, Resolve conflict, and Organize team initiative