1.Define management as a discipline. Explain its nature and features.
2.Discus the management five functions?
3.Discuss the different types of planning.
4.What are the basic principles of management according to Henry Fayol? List and explain them.
1. Management is a discipline that involves the coordination of activities within an organization to achieve specific goals and objectives. It involves planning, organizing, leading, and controlling resources to accomplish tasks and achieve desired outcomes. The nature of management is dynamic and constantly evolving, adapting to changes in the business environment. Its key features include decision-making, problem-solving, communication, leadership, and coordinating resources effectively.
2. The five functions of management are:
- Planning: involves setting goals and objectives for the organization and determining the best course of action to achieve them.
- Organizing: involves arranging resources and tasks in a way that maximizes efficiency and effectiveness.
- Leading: involves motivating and guiding employees towards accomplishing organizational goals.
- Controlling: involves monitoring performance and implementing measures to ensure that goals are being met.
- Coordinating: involves aligning the activities of various departments and individuals to work towards a common goal.
3. The different types of planning include:
- Strategic planning: long-term planning that sets the overall direction and goals of the organization.
- Tactical planning: medium-term planning that establishes the specific actions and steps needed to achieve strategic goals.
- Operational planning: short-term planning that outlines the day-to-day tasks and activities required to implement tactical plans.
- Contingency planning: planning for unexpected events or situations that may arise and disrupt normal operations.
4. The basic principles of management according to Henry Fayol are:
- Division of work: work should be divided among individuals and groups to ensure efficiency and specialization.
- Authority and responsibility: managers have the right to give orders and the duty to ensure that tasks are completed.
- Discipline: employees should respect and obey organizational rules and policies.
- Unity of command: each employee should receive orders from only one supervisor to avoid confusion.
- Unity of direction: activities within the organization should be guided by one plan to ensure coordination and focus.
- Subordination of individual interests to the general good: individual interests should not overshadow the overall goals of the organization.
- Remuneration: employees should be fairly compensated for their work.
- Centralization: the degree to which decision-making authority is concentrated at the top of the organization.
- Scalar chain: a clear chain of command should exist from the top of the organization to the bottom.
- Order: materials and people should be in the right place at the right time.
- Equity: fairness and justice should be maintained in employee treatment.
- Stability of tenure of personnel: turnover should be minimized to promote efficiency.
- Initiative: employees should be encouraged to take initiative and be creative in their work.