Principles of Management

                                                             Principles of Management

Principle No.:1 - Functions of Management

Management is a discipline that consists of a set of five general functions: planning, organizing, staffing, leading and controlling. These five functions are part of a body of practices and theories on how to be a successful manager.

Understanding the functions will help managers focus efforts on activities that gain results. Summarizing the five functions of great management (ICPM Management Content):

1.      Planning: When you think of planning in a management role, think about it as the process of choosing appropriate goals and actions to pursue and then determining what strategies to use, what actions to take, and deciding what resources are needed to achieve the goals.

2.    Organizing: This process of establishing worker relationships allows workers to work together to achieve their organizational goals.

3.    Leading: This function involves articulating a vision, energizing employees, inspiring and motivating people using vision, influence, persuasion, and effective communication skills.

4.   Staffing: Recruiting and selecting employees for positions within the company (within teams and departments).

5.      Controlling: Evaluate how well you are achieving your goals, improving performance, taking actions. Put processes in place to help you establish standards, so you can measure, compare, and make decisions.

Principle No.:2 - The Types and Roles of Managers within the Organization

Organizational structure is important in driving the business forward and every organization has a structure. No matter the organizationally specific title, organizations contain front-line, middle, and top managers. Above the top management team are a CEO and a board of director levels. To see this structure even more clearly, visualize a pyramid model. The more you move toward the top of the pyramid, the fewer managers you have. All of these management roles have specific tasks and duties. According to Jones and George, “A managerial role is the set of specific tasks that a manager is expected to perform because of the position he or she holds in an organization.” These skills can be gained with a degree in organizational management.

Principle No.:3 - Effective Management of Organizational Resources

An essential component of operationalizing the organization’s strategic plan is allocating resources where they will make the most impact. In fact, Dr. Ray Powers (2015), former associate dean in the Forbes School of Business and Technology®, argues that it is the most important thing to do. 

Principle No.:4 - Understanding and Applying the Four Dimensions of Emotional Intelligence (EQ) in Maximizing Human Potential

Effective managers understand the context and culture in leadership situations. Those four dimensions are: a high self-awareness, social awareness, self-management, and good social skills. All of these competencies are important, and they lead to great connections with people. They lead to stronger and more effective managerial performance. EQ is a very important component for excelling as a supervisor. 

Principle No.:5 - Know the Business

A common axiom in management is that a qualified manager can manage any business. This point is only partially true. It is true that most managers are generalists rather than specialists; however, many very successful managers began their careers in specialist roles. What most successful managers bring to their work in leading crews, departments, divisions, and companies is both a solid knowledge of the business (they are very experienced) and a solid knowledge of the principles of great management. Manager aspirants must first learn the characteristics of the business by doing, working in the trenches, and discovering how the various pieces of the organization work together to become a universal whole because very good managers discover what is universal in the business and capitalize on it to advance the business and improve performance.

Conclusion

Remember, as a manager, for greater job satisfaction and career success you should align to your organization’s vision, mission, strategies, leadership, systems, structure, and cultures. In all you do, treat people fairly and honestly and do your best to follow and embrace your organization’s ethics and core values as well as your own. Talk the walk and walk the talk, and remember, people are watching and seeing how you walk it. Give your very best to your teams, organizations, and customers. Be an effective manager to get the performance results for your organization and build trust and positive relationship with your people.

                                                T.Poovendiran

T.Sundar

III B.Com