jcgddrMarins

21.09.2020 09:13

Английский язык

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Management in business and human organization activity, in simple terms means the act of getting people together to accomplish desired goals. Management comprises planning, organizing, resourcing, leading or directing, and controlling an organization (a group of one or more people or entities) or effort for the purpose of accomplishing a goal.
Towards the end of the 20th century, business management came to consist of six separate branches, namely: Human resource management, Operations management or Production management, Strategic management, Marketing management, Financial management, Information technology management responsible for management information systems.
Management operates through various functions, often classified as planning, organizing, leading/motivating and controlling.
• Planning: deciding what needs to happen in the future and generating plans for action.
• Organizing: (Implementation) making optimum use of the resources required to enable the successful carrying out of plans.
• Staffing: Job Analyzing, recruitment, and hiring individual for appropriate job.
• Leading/Motivating: exhibiting skills in these areas for getting others to play an effective part in achieving plans.
• Controlling: monitoring -- checking progress against plans, which may need modification based on feedback.
Formation of the business policy
• The mission of the business is its most obvious purpose which may be, for example, to make soap.
• The vision of the business reflects its aspirations and specifies its intended direction or future destination.
• The objectives of the business refer to the ends or activity at which a certain task is aimed.
• The business's policy is a guide that stipulates rules, regulations and objectives, and may be used in the managers' decision-making. It must be flexible and easily interpreted and understood by all employees.
• The business's strategy refers to the coordinated plan of action that it is going to take, as well as the resources that it will use, to realize its vision and long-term objectives. It is a guideline to managers, stipulating how they ought to allocate and utilize the factors of production to the business's advantage. Initially, it could help the managers decide on what type of business they want to form.