Fundamentals Of Management and Its Functions
|Management Functions||Definition||Impact on Organizations|
|Planning & Directing||Planning involves determining actions necessary to achieve a goal, with directing being the function that communicates these to the team.||Helps in the direction of resources and efforts towards a common goal. Facilitates clear and concise communication within the organization.|
|Workplace Environment||It involves creating a suitable environment for employees, providing equipment, safety measures, and supervision.||Improved employees' physical and mental well-being, leading to increased productivity and morale.|
|Resource Allocation||Decision-making about which resources to use and how effectively they can be utilized.||Boosts efficiency and productivity by efficiently managing resources.|
|Information Management||Involves the collection and analysis of industry data, marketing trends, etc., to guide decision-making.||Assists in making more informed and strategic decisions, improving forecasting and business outcomes.|
|Communication of Results||Sharing decisions and relevant information with stakeholders, especially employees.||Increases transparency, facilitates collaboration, and boosts morale.|
|Leadership||Guiding and inspiring team members to achieve the organization's goals||Enhances productivity, fosters a positive organizational culture, promotes teamwork and cohesion.|
|Employee motivation through rewards and incentives||Recognising and rewarding employees' efforts to further motivate them.||Boosts morale, productivity and job satisfaction among employees.|
|Conflict Management||Dealing with disagreements and conflicts constructively within the team.||Prevents disputes from escalating; enhances team dynamics and promotes harmony.|
|Delegation||Assigning tasks and responsibilities to team members, according to their skills and capabilities.||Promotes task ownership; nurtures skills development; encourages teamwork.|
|Decision-Making||Choosing a course of action from various alternatives for the benefit of the organization.||Helps achieve strategic goals; mitigates risks; enhances organizational progress and success.|
Management analyzes data, organizes it into helpful information for decision-making, and directs people towards achieving goals. There are five primary functions that makeup management:
1- Planning & Directing
The first function of management is planning and directing. Planning occurs when there is a need to determine what must be done to reach an objective. This can be done by formulating a goal and choosing the best course of action.
The following function is directing, which is communicating goals and providing feedback. Communication occurs by setting goals and objectives with employees and ensuring they understand what they need to do.
2- Workplace Environment
The second function of management is creating an environment for employees. This involves providing the proper equipment, safety measures, and supervision. This function also includes workers' compensation for employees injured on the job.
3- Deciding What Resources To Use How They'll be used
The third function is decision-making about what resources to use. Decisions involve choosing employees, machines, or other technology to provide the most efficient way to produce goods or services.
4- Collecting And Analyzing Information Used For Decision Making
The fourth function of management is collecting and analyzing information used for decision-making. This involves researching relevant Statistics about the industry, marketing trends, customer behavior, and other information that will help determine the best way to handle situations.
5- Communicating Results Of Leadership Process
Related Course: Leadership Training Course
The final function of management is communicating the results of leadership. This includes sharing decisions and any relevant information with employees and customers. Employees need to be aware of decisions that will affect their job effectively.
Leadership is one of the most important aspects of being a successful manager. Leadership teaches you how and when to show up, what your goals should be for any given team/department to achieve those objectives quickly with minimal conflict from other teams members who may have different priorities or ideas about where things need to go next; it also provides direction on tasks within each unique situation- whether that means taking care business as usual until something changes externally (like an emergency), making significant adjustments based off new information coming through during daily communications or any other given circumstances.
Leadership also teaches you how to be a manager; it tells you what traits successful managers need to have (practical communication skills, managing team members without micromanaging, listening, and understanding what other people are saying and feeling). It provides you with ideas on how you can be a better manager.
Leadership isn't just crucial for managers it's important for everyone- leaders are hard to come by, so it is one of the most sought out positions throughout organizations everywhere. Without leadership, it will be hard to motivate employees to move in the same direction.
As a manager, you must know how to lead your team- you must also set an example for them by following leadership skills yourself. You are not exempt from learning how to be a leader! Your employees are listening and watching what you are doing and taking notes on how you are leading the team. Remember that your employees are always watching and taking everything you do into account- it's essential to lead by example!
If you want to be a great manager, make sure leadership skills are something you prioritize. Leadership isn't just about being respected. It's about doing what is best for the company as a whole. This means leading your team and setting objectives and following those objectives, or putting yourself in another position within the company if you cannot complete a goal (like a promotion). It's about understanding that all things may not go as planned and finding solutions. It's also about having high morale and vision for everyone working at the company.
Now that you have learned about the importance of leadership in management consider what personal leadership skills you have- are there any traits people admire about you? Do you have any leadership skills that you would like to find within yourself (like patience, the ability to see multiple points of view)? Remember that everyone has different leadership styles- make sure yours works well with your team and company!
The best way to motivate employees is with rewards and incentives. Whether it be an awards ceremony, Certificates, or cash, the right motivation can significantly impact their performance!
Employees are motivated by different things. Some are motivated by praise. Some prefer tangible rewards like trophies or even cash. Effective managers know what motivates their employees and how they can be best motivated.
Surprising incentives are often very effective. One of the most powerful ways to motivate employees is to reward them for something they didn't expect or didn't even know they were working towards. Alternatively, it can be a good idea to offer an enticing incentive that you know will work well with your company culture. For example, an awards ceremony or office lunch is a great way to motivate employees who enjoy public recognition. Or you could offer bonuses for advancing your company's goals, such as hitting revenue targets.
However, it is essential not to underestimate the impact of small incentives and rewards. Little things like giving praise and showing appreciation can go a long way towards motivating employees. It's also important to appreciate an employee's hard work and show them that you notice it. Rewarding employees for their achievements will also encourage others, as they want to live up to those standards.
If you don't want to offer a tangible incentive, then another great idea is to reward employees by giving them opportunities within the company. For example, an employee struggling at their job could be rewarded with a promotion or a chance to attend a training course.
In conclusion, the best way to motivate employees with rewards and incentives is by matching their needs. Whether an employee enjoys public recognition with a lunch or awards ceremony, or you want to offer bonuses for advancing your company's goals - the right incentive can make a massive impact on employee performance! Learning the fundamentals of management is important for work life. If you want to work on a leader and manager positions, begin learning with this course. You can join IIENSTITU’s fundamentals of management course and get the certification. Good luck!
Yu Payne is an American professional who believes in personal growth. After studying The Art & Science of Transformational from Erickson College, she continuously seeks out new trainings to improve herself. She has been producing content for the IIENSTITU Blog since 2021. Her work has been featured on various platforms, including but not limited to: ThriveGlobal, TinyBuddha, and Addicted2Success. Yu aspires to help others reach their full potential and live their best lives.