B. Functions of Management
The functions of management uniquely describe managers' jobs, as well as the specific actions managers, must take in order to perform their job. The most commonly cited functions of management are planning, organizing, leading, directing, and controlling, although some identify additional functions. The functions of management define the process of management as distinct from accounting, finance, marketing, and other business functions. These functions provide a useful way of classifying information about management, and most basic management texts since the 1950s have been organized around a functional framework, although growing criticism of this framework has been present, especially since the 1980s.
Videos
- Managing Your Business: Prices, Finances, and Staffing - (27:34)From price tags to paychecks, from tracking sales to filing taxes, from opening in the morning to locking up at night, the on-the-ground challenges of running a business never end. This video sheds light on them with expert commentary and helpful explorations of numerous management issues. Topics include obtaining proper insurance; determining the best market prices for goods and services; finding the right software and record-keeping systems for sales, billing, expenses, and taxes; and making sure that an array of government and bureaucratic requirements are fulfilled, from an Employer Identification Number to Employee Eligibility Verification forms to the required notices posted on company premises. The program also features extensive discussions of hiring, training, motivating, and disciplining employees.
Managing the Business
Organizing the Business
- 60-Second Guide to Organizing Your BusinessWhen you organize your business and eliminate the clutter, you will feel reenergized. You will find that you are easily motivated to get straight to work when you don't have a mess to deal with. You will save time otherwise wasted looking through piles or searching for a missing document on your computer. Begin by establishing a plan. Prioritize your list, set a date with yourself and identify your motivation.
- How to Organize Business: Organizing Business TipsHere are some tips to good business organization:
- Organize Your Company Around Your Business PlanA business plan is more of a framework for success. It helps you organize your company around your mission and vision, your goals and objectives, and the strategy you’ve outlined to achieve success. It provides milestones along the way to measure your progress.
- Organizing the Small Business - Effective Operations and Controls for the Small Privately Held BusinessOrganizing is intended to be a helping process to enable a small business to conduct its business better.
Operations Management
Operations Management - Encyclopedia of Small Business(Vol. 2. 8th ed.)
Operations management is a multidisciplinary field that focuses on managing all aspects of an organization’s operations. The typical company carries out various functions as a part of its operation.
Quality for Producing Goods and Services
- High-Performing OrganizationHigh-performing organization is a concept that defines the organizational-level entrenchment of value optimization, cost minimization, and knowledge management. Organizations draw enormous competitive advantage from effective approaches to management of operations and production processes.
- Japanese ManagementThe Japanese have had a widespread impact on world markets. Most Japanese automobile manufacturers have successful plants located within the United States—all of them manufacturing automobiles utilizing American workers. When Matsushita bought a U.S. television plant in Chicago, the company managed to maintain the 1,000 hourly employees while trimming the indirect labor by half. Utilizing the same workers employed by the U.S. firm, Matsushita doubled daily production while improving quality 40-fold. Outside warranty costs fell from $16 million per year to $2 million per year while selling twice as many sets.
Competitiveness in the Real Economy: Value Aggregation, Economics and Management in the Provision of Goods and Services by Call Number: eBookISBN: 9781409461227Publication Date: 2013-12-02Value aggregation to goods and services is unbelievably important to the balance of trade of modern nations, yet it receives minute attention by economists and policy-makers alike.
Employee Behavior and Motivation
- Work Efficiency and MotivationWork efficiency and motivation emerged as concerns of managers and researchers in the twentieth century and continues through the twenty-first century. From its beginning in the United States with the assembly-line efficiency studies of Frederick Taylor, this area of study has grown into a sophisticated science applicable to all organizations.
- Maslow's Hierarchy of NeedsMaslow's hierarchy of needs is a theory of motivation and personality developed by the psychologist Abraham H. Maslow (1908–1970). Maslow's hierarchy explains human behavior in terms of basic requirements for survival and growth. These requirements, or needs, are arranged according to their importance for survival and their power to motivate the individual.
- The Relationship between the Fulfillment of the It Professional's Psychological Contract and their Organizational Citizenship and Innovative Work BehaviorsLittle is known about the relationship between of the level of fulfillment of the IT professional's psychological contract and their innovative work and organizational citizenship behaviors. Using psychological contract and social information processing theories, this study proposes to answer the research question: What is the relationship between the level of fulfillment of the IT professionals' psychological contract and their organizational citizenship and innovative work behaviors?
- Theory X and Theory Y - Encyclopedia of ManagementTheory X and Theory Y represent two sets of assumptions about human nature and human behavior that are relevant to the practice of management. Theory X represents a negative view of human nature that assumes individuals generally dislike work, are irresponsible, and require close supervision to do their jobs. Theory Y presents a positive view of human nature that assumes individuals are generally industrious, creative, and able to assume responsibility and exercise self-control in their jobs.
- Theory Z - Encyclopedia of ManagementTheory Z is an approach to management based upon a combination of American and Japanese management philosophies and characterized by long-term job security, consensual decision making, slow evaluation and promotion procedures, and individual responsibility within a group context. Proponents of Theory Z suggest that it leads to improvements in organizational performance.
Leadership and Decision Making
- Decision MakingDecision making is a vital component of small business success. Decisions based on a foundation of knowledge and sound reasoning can lead the company into long-term prosperity; conversely, decisions made on the basis of flawed logic, emotionalism, or incomplete information can quickly put a small business out of commission (indeed, bad decisions can cripple even big, capital-rich corporations over time). All businesspeople recognize the painful necessity of choice.
- Decision Making (Individuals)Decision making can be defined as the selection of a course of action among options. Those options can range from selecting a marriage partner to selecting a political party affiliation. Scholars who study decision making come from many disciplines. For example, decision making has long been of interest in economics and psychology. Early models of the decision making process were mathematical.
- The Many Faces of LeadershipOf all the business topics in the world, the most difficult one to deal with is leadership. As could be seen in Chapter 1 , leadership and strategy are inexorably linked with business success.
- LeadershipLeadership is one of the most widely discussed and researched topics in all of human behavior, cutting across the social, behavioral, and physical sciences and the disciplines of psychology, management, political science, anthropology, sociology, and biology as well as evolutionary studies.
What Really Matters: Service, Leadership, People, and Values by Call Number: eBookISBN: 9780300123524Publication Date: 2007-05-16In this book one of America's most widely admired business leaders distills a lifetime of experience, including failures as well as successes, to reveal his answers.John Pepper, president, CEO, and chairman of Procter & Gamble for a combined 16 years, underscores the importance of continuous change, innovation, and renewal as prerequisites for growth and sound leadership.
C. Human Relations in Business
D. Human Resource Management
Human Resource Management and Labor Relations
- Human Resource Management - Encyclopedia of ManagementHuman resource management (HRM), also called personnel management, consists of all the activities undertaken by an enterprise to ensure the effective utilization of employees toward the attainment of individual, group, and organizational goals.
- Human Resource Management - Encyclopedia of Small BusinessHuman Resource Management (HRM) is the term used to describe formal systems devised for the management of people within an organization. The responsibilities of a human resource manager fall into three major areas: staffing, employee compensation and benefits, and defining/designing work.
- Labor Relations - Encyclopedia of ManagementMost definitions of labor relations acknowledge that labor relations involves the complex interplay among management, workers and their representatives, and the government. Each of these three players has different needs and goals that determine how they interact with the other two parties.
- Labor-Management Relations - Everyday Finance: Economics, Personal Money Management, and EntrepreneurshipThe term “labor-management relations” refers to interactions between employees, as represented by labor unions, and their employers. Labor unions are organizations of employees in particular industries, companies, or groups of industries or companies, who join together in order to further workers’ individual interests.