COMMERCE GRADE 11

WHAT IS MANAGEMENT?

Management

Management is the process of planning

organizing leading and controlling the use of
resources to accomplish performance goals

DEFINITION

 Management is the process of planning organizing

leading and controlling the use of resources

To accomplish performance goals.

 Management is the art of knowing what you want

to do and then seeing that it is done in the best
and cheapest way

F W Taylor

Efficiency

Effectiveness

the capability of the management
to achieve the desired targets in
the specified time

Efficiency and effectiveness

Planning

Planing is the first step in managing
Determines business objectives or desired results
Determines ways to reach established goals

Three types of plans

1 strategic plans(3-5)
2 Tactical plan(1 year less)
3 operational plan(Daily operational activities)

organizing

Organizing is deciding what jobs need to get done
This is done by organizing people to carry out the companies plan.
Hire and train new empleyees
Assign authority and responsibility
Organize and arrange equipment ,materials and other resources

Directing

Conveying plans assignments and instructions to the employees
Communicating goals and motivating employees to perform
Handling equipment and other resources

controlling

Controlling is the final step in managing
Comparing expected results with actual performances
Implementing corrective actions as needed

Quality programmes
Uses budgets to compare budgeted costs with actual costs