What is management?

“Management means directing and controlling a group of people or an organization to reach a

goal. Management often means the deployment and manipulation of human resources, financial
resources, technological resources, and natural resources. In other word management can also
mean the person or people who manage, the managers”.

What is the importance of management?

Importance of Management: Management is overall the most important factor because no
business runs on itself, even no momentum. Every business needs repeated stimulus which can
only be provided by management. Thus, management is dynamic, life giving element without
which the “factors of production “will remain as were factors not become “Production “. The
following points bring out the importance of management.
1. Accomplishment of group goals.
2. Efficient operations of business.
3. Sound organization structure.
 Accomplishment of group goals: Success of a business enterprise depends on three
important factors,
a. How economically and efficiently the organization has used its man power and physical
resources.
b. How effectively it has adapted the enterprise to the prevailing business environment e.g.
needs and expectations of the customers, policies of rivals and
c. How far the existing business policies have succeeded in realizing the goals and
objectives of the organizations.
 Efficient operation of business: Efficient of an organization depends on ability, experience,
skills, co-operation zeal and enthusiasm to its employees. This, inturn, depends on proper
motivation of there employee which can be accomplished only by an inspiring leadership
provided by management. Management makes sure that the workers know their jobs, helps
them in improving their skills and abilities in doing their jobs.
 Sound organization structure: Management establishes a sound organization that is in
accordance with the desired objectives and goals and the weak to be done of accomplish
them. Management establishes a system of authority and responsibility relationships, who
will command whom, who will be responsible for what, and who shall be accountable to
whom.

Discuss Mintzberg’s Managerial Roles with examples?

Mintzberg’s Managerial Roles: Mintzberg managerial roles comprise a variety of
responsibilities that are attributed to a manager across divisions. Some of these responsibilities
are communication, time management, conflict resolution, and decision-making. Mintzberg
studied different types of organizations and identified 10 roles of a manager.
1. Inter personal Relationships relating to a manager’s authority in an organization.
a. Figure head role: where a manager plays officially the role of a professional
representing his organization in social activities and events. For Example, An
example of responsibility in the figurehead role is when you attend a social lunch or
event with a client. You are there to promote your company or team and project a
positive, professional image.
b. Leadership role: The Leader inspires, encourages, and builds morale. Managers
build lasting relationships with team members by monitoring their performance
and coaching them when needed. For example, your team may have a specific sales
goal it aims to reach one month. As a leader, you would communicate your expectations
to team members and ensure they understand them. Throughout the month, you would
check in with them regularly to monitor their progress and may provide resources or
delegate tasks as needed to help them achieve the goal.
c. Liaison officer: Managers must communicate with internal and external contacts.
Liaising with other organizations, competitors, and government representatives is
equally important for professional development. Managers should oversee
networking even beyond their organization boundary. For example, as a manager,
you would communicate regularly with your employees but also interact with your
clients. In your client conversations, you can gain insights on what their needs are, then
relay that information to your employees. Now that they have an understanding of the
client's expectations, you can ensure that they work to fulfill those needs and deliver a
successful result.
2. Information processing involving communicating important information and data.
a. Monitoring Information: The Monitor is responsible for gathering intel for
sustained competitive advantage. To do that, a manager has to assess the market
for changes and collect relevant data that could impact the organization. These are
stages in the process of strategic management that helps an organization to
survive the competition. For example, you may use customer feedback to determine
how you can improve your existing product line. You also need to monitor industry
trends, such as products launched by competitors and regulatory changes that your
company may need to follow. When you understand what is occurring in your industry,
it ensures your company meets business standards and remains competitive.
b. Disseminating Information: managers must delegate more when it is appropriate
and convey important information especially to their employees. For example,
after researching industry trends, you may have developed a proposal for a new product
design. You would then submit this proposal to upper management for approval and
also provide it to your employees. Providing the proposal to your employees allows
them to familiarize themselves with the project and enables you to determine how to
delegate tasks.
c. Organizations Spokesman: Convey important information about the
organization to external stakeholders. This could be for PR purposes, addressing
government policies, or dealing with suppliers. You must have a clear idea of
your company’s brand image to become a successful spokesperson. For example,
 your spokesperson's responsibilities may require you to attend the annual shareholder's
meeting. At this meeting, you may inform the attendees about the quantifiable results or
achievements your team achieved that year, such as sales numbers. You may also
discuss the strategic business goals you aim to achieve within the next year.
3. Decision Making concerning decision-making, negotiations, and implementation.
a. Entrepreneur: behaving as an entrepreneur, managers should encourage change
and creativity by leading the implementation of new ideas. For example, you may
decide to develop a new marketing strategy using social media to solve the issue.
b. Conflict Handler: The Disturbance Handler ensures that everything runs
smoothly. Key responsibilities include resolving conflicts with mentoring
sessions, identifying areas for improvement, and addressing gaps in teamwork.
For example, managers often receive training in conflict resolution skills. If a conflict
arises between two members of your team, you must handle the situation objectively
while ensuring to collaborate on a solution that benefits all parties. You often must act
quickly to ensure that operations continue to run smoothly and receive as little
interruption as possible.
c. Resource Allocate:  managers need to assign and administer a variety of
financial, technological, and human resources activities. For example, if you
control the organization's budget, you will determine how to divide funding amongst
your departments based on their needs or goals.
d. Negotiator: A successful negotiation leads to a win-win outcome. A manager has
to participate in negotiations with team members and other stakeholders to reach
a favorable outcome for both parties. This role distinguishes you from other
managers because you have to consider your team’s best interests. For example,
you may enter a negotiation with an employee over their salary. If you cannot meet
their monetary request, you may negotiate a lower number but provide additional
benefits such as more vacation days to make the offer more attractive.

THE END