All About Management

1. What do you mean by management?
2. What is the first rule of management?
3. What are the levels of management?
4. What are the tools of management?
5. What are the types of management?
6. What are the principles of management?
7. What are the types of managers?
8. What are the management styles?
9. What are the functions of management?
10. What qualifications do you need to be a manager?
11. What is the Qualities That Make a Good Manager?
12. What are the roles of a manager?
13. What is the MBO method?

 "A leader is a dealer in hope." — Napoleon Bonaparte

What do you mean by management?

Management is the responsibility of getting people together to accomplish appropriate goals and objectives by using proper resources efficiently and effectively.

This is the process of planning and organizing the resources and activities of a business to achieve specific goals.

You can call management an art or science. but most management thinkers agree that formal academic management background helps in managing successfully.

Management can be defined in the following categories:

• Management as a Process
• Management as a Discipline
• Management as an Activity
• Management as a Group
• Management as an Art
• Management as a Science
• Management as a Profession

The main objectives of management are:

• Getting Maximum Results with Minimum Efforts
• Maximum Prosperity for Employer & Employees
• Increasing the Efficiency of Factors of Production
• Human Betterment & Social Justice

“Good management is the art of making problems so interesting and their solutions so constructive that everyone wants to get to work and deal with them.” — Paul Hawken

Study of Fayol and Taylor

Fayol is the Father of management principles which stressed general administration. Fayol pays due regard to the human element. E.g. Principle of initiative, Espirit De’ Corps, and Equity recognize a need for human relations. It has a macro approach and discusses general principles of management which are applicable in every field of management. These are applicable in all kinds of organizations regarding their management affairs.

Taylor is the Father of scientific management which stressed efficiency. Taylor disregards human elements and there is more stress on improving men, materials, and methods. It has a micro-approach because it is restricted to factories only. These principles are restricted to production activities.

What is the first rule of management?

The first rule of management is not to give commands but to actually increase the confidence of your team members.

What are the levels of management?

• Administrative, Managerial, or Top Level Management.
• Executive or Middle Level of Management.
• Supervisory, Operative, or Lower Level of Management.

What are the tools of management?

• Strategic Planning
• CRM
• Benchmarking
• Advanced Analytics
• Supply Chain Management
• Customer Satisfaction
• Change Management
• TQM
• Digital Transformation
• Mission and Vision Statements

What are the types of management?

• Autocratic
• Democratic
• Laissez-faire
• Visionary
• Servant leadership

What are the principles of management?

• The primary role of objectives
• Relationship of functions, personnel, and physical facilities
• Responsibility and authority
• Dividing and grouping work
• Effective delegation
• Line and staff relationships
• Systems relationships and matrix management
• Balance, stability, and flexibility
• Place of specific functions
• Informal organization

What are the types of managers?

• The Problem-Solving Manager.
• The Pitchfork Manager.
• The Pontificating Manager.
• The Presumptuous Manager.
• The Perfect Manager.
• The Passive Manager.
• The Proactive Manage

What are the management styles?

• Democratic management style
• Laissez-faire management style
• Autocratic management style
• Charismatic management style
• Coach management style
• Pacesetting management style
• Bureaucratic management style
• Transactional management style

What are the functions of management?

• Planning
• Organizing
• Staffing
• Directing
• Controlling
• Co-Ordination

What qualifications do you need to be a manager?

• Leadership mentality
• Time-management skills
• Problem-solving capability
• Decision-making skills
• Communication
• Mentorship
• Ability to work under pressure
• Team-oriented mindset.
• Strategic planning abilities
• Effective feedback delivery

One must hold a bachelor's or master's degree in business administration or a similar subject.

What are the Qualities That Make a Good Manager?

• Transparency
• Excellent Communication
• Listening Skills
• Appreciating and Encouraging Teamwork
• Consistency and Reliability
• Trustworthiness
• The Drive to Set Goals
• Making Decisions (and Accepting Responsibility)
• Empathy and Sensitivity
• Rewarding and Recognizing Employees
• A Willingness to Change
• Conflict Resolution (Rather than Conflict Avoidance)
• Empowering and Motivating Your Team

What are the roles of a manager?

• Figurehead
• Leader
• Liaison
• Monitor
• Disseminator
• Spokesperson
• Entrepreneur
• Disturbance Handler
• Resource Allocator
• Negotiator

What is the MBO method?

Management by objectives (MBO) is an organized model that aims to improve organizational performance. This was first mentioned by Peter Drucker in his 1954 book. This is clearly defining objectives that are agreed to by both managers and employees.

"The challenge of leadership is to be strong, but not rude; be kind, but not weak; be bold, but not bully; be thoughtful, but not lazy; be humble, but not timid; be proud, but not arrogant; have humor, but without folly." — Jim Rohn

Bonus Points

What are the 7 tools of TQM?

• Pareto Principle.
• Scatter Plots.
• Control Charts.
• Flow Charts.
• Cause and Effect, Fishbone, Ishikawa Diagram.
• Histogram or Bar Graph.
• Check Lists.
• Check Sheets.

Which are the 7 QC tools?

• Stratification (Divide and Conquer)
• Histogram.
• Check Sheet (Tally Sheet)
• Cause-and-effect diagram (“fishbone” or Ishikawa diagram)
• Pareto chart (80/20 Rule)
• Scatter diagram (Shewhart Chart)
• Control chart.

What are the 7 Sigma principles?

• Always focus on the customer.
• Understand how work really happens.
• Make your processes flow smoothly.
• Reduce waste and concentrate on value.
• Stop defects by removing variation.
• Get buy-in from the team through collaboration.
• Make your efforts systematic and scientific.

What are the 5 quality tools?

• The 5 whys
• Affinity diagram
• Cause-effect or fishbone diagram
• SIPOC diagram or Flow diagrams.
• FMEA.

What are the 8 principles of QMS?

• Customer focus
• Leadership.
• People involvement.
• Process approach.
• A systematic approach to management.
• Continual improvement.
• Factual approach to decision making.
• Mutually beneficial supplier relations.

CONCLUSION

In profitable organizations, the primary function of management is the satisfaction of a range of stakeholders. This function typically involves making a profit for the shareholders by, creating valued products at a reasonable cost for customers and providing great employment opportunities for employees.