BACHELOR OF

COMMERCE
(BCOM)
writer
Washington
Fidel
 PRINCIPLE OF
MANAGEMENT
Management is the art of getting things
done through or with people.
- is the process of planning, organizing, staffing, directing
and controlling.
Manager is someone who coordinate and oversees
the work of other people so that organizational goals can
be accomplished.
NATURE/CHARACTERISTICS/FEATURES
OF MANAGEMENT
✓Management is getting things done.
✓Management is a group of activity.
✓Management is an universal activity.
✓Management is purposeful.
✓Management is a process.
✓Management is a professional.
✓Management is interdisciplinary in nature.
✓Management is dynamic in nature.
✓Management involves decision making.
✓Management applies economic.
✓Management concerns with direction and control.
Importance/ Significance of
management
1. Management regulates productive activities by
organizing factors of production.
2. Management identifies objectives and
communicates them to all concerned.
3. Management directs human efforts to
achievement of objectives.
4. Management enable the organization to
effectively utilize resources.
5. Management forecast and plans for the future.
6. Management encourages innovation by bringing
new ideas, imagination and vision.
7. Management ensures better running of the
enterprise through better planning and control.
8. Management makes it possible for the
organization to offer good quality products at low
prices.
9. Management promote national economic
development by ensuring better utilization of
country's resources.
Reasons for studying management
- To achieve advanced managerial position.
- To ensure efficient and effective use of resources
for the benefit of society.
- To understand what the managers do and how
they do it.
- To understand how the society creates wealth.
- Helps us deal with bosses and coworkers.
- Helps us to understand other people at work and
make decisions that attract the attention of bosses.
- Teaches us how to lead coworkers, solve conflict
between them, achieve team goals and increase
performance.
- Helps us to get a good job that pays well and
provide an interesting and satisfying career.
- Management tries to create a discrable future
keeping past and present in mind.
- Management is practised in and is a reflection of a
particular historical era.
- Management is a practice that produces
consequences and effects that emerge over time.

level of management and their

functions to an organization
1. Top management level ( top managers)
~ Involves managers at or near the top of the
organization who are responsible for making
organization wide decisions and establishing
plans and goals that affect the entire
organization.
 Functions of the top level
management
√ lays down objectives and broad policies of the
organization.
√ Issues instructions for preparation of departmental
budgets, procedures and schedules.
√ Prepares strategic plans and policies.
√ Control and coordinates activities of all the
departments.
√ Maintain contacts with outside world.
√ Give guidance and directions.
√ Responsible to the shareholders in the performance of
the organization.

Middle level of management

~ involves all levels of management between the first
line level and top level of management.
Functions of Middle level of
management
√ Execute plans in accordance with policies.
√ Make plans for subunits in the organization.
√ Participate in employment and training of lower managers.
√ Coordinates activities within the division.
√ Transmit reports and data to top management.
√ Evaluate performance of junior managers.
√ Inspire lower level managers to superior performance.
√ Motivates personnel to achieve objectives.
√ Report to top management.
√ Make recommendations to top management

First line level of management ( often called

supervisors)
~ are located on the lower level of management of an
organization.

Functions of lower level of

management
√ Assign jobs and tasks to various workers.
√ Guide and instruct workers on day to day activity.
√ Prepare performance reports.
√ Responsible for quality and quantity of production.
√ Maintain good relationship in the organization.
√ Communicates workers problems and
suggestions.
√ Solve workers grievances.
√ Maintain discipline among workers.
√√ Motivates workers.
√ Supervise and guide subordinates.
√ Provide training to workers.
√ Helps develop the image of the organization.
√ Arrange materials, tools and machines.
√ Link between middle level of management and
workers.
√ Send performance reports to middle level of
management.
Difference between management and
administration
1. Management is getting things done through or
with people while administration is concerned with
formation of objectives, plans and policies.
2. Management is a doing function while
administration is a thinking function.
3. Lower level management function while
administration is a top level management function.
4. Management makes decisions within the
framework of administration while administration
make policy decisions.
5. Management decisions are influenced by internal
factors while administration decisions are influenced
by external factors.
6. The term management is widely used in business
world while administration is used in government.
Managerial Roles (Henry Mintzberg)
1. Information roles
- involves collecting and disseminating information
for better understanding of the working of the
organization and environment.
a. Monitor
Evaluate performance, monitor environmental
changes,read periodical reports, maintain personal
contacts.
b. Disseminator
Transmits information received from outside or
subordinates to the organizational members.
C. Spokes person
Transmits information to outsiders,ie plans, policies,
actions and results.
Launch a national advertising campaign to promote
goods and services, give speech to communities to
communicate about future plans, hold board meetings,
give information to Media.
2. Decisional roles
a. Entrepreneur
Tries to scan the environment for opportunities and
initiate change, it involves making choices.
Commit organizational resources to develop innovative
goods and services, decide to expand internationally to
obtain new customers for organization resources.
Develop strategies and new programs.
b. Disturbance handler
Takes corrective actions during an unexpected
circumstances, quickly solve an unexpected problem
emerging from the external environment.
c. Resources allocator
Allocates resources among different tasks or
departments,set budgets and salaries of middle and
lower level managers.
d. Negotiator
Represent the organization in major negotiations .
Work with suppliers, distributors, labour union to reach
an agreement about quality and price of inputs,
technical, human resources, work with other
organizations , make agreement to pool resources on
special project.
3. Interpersonal roles
a. Figurehead
This role involves people ( inside and outside)
organization and other duties that are symbolic and
ceremonial in nature i.e, Developing goals to employees,
opening new headquarters building, stating ethical
guidelines, behavior of dealing with customers and
suppliers.
Signing legal documents, greeting visitors, representing
the organization in matters of formality, avail himself/
herself to people who want access to the top.
b. leader
Acts as a role model. He gives direct command and
orders, decide on use of resources, mobilize employees
support on specific goals, motivates staffs,train and give
guidance.
4. Liaison role
Coordinates the work of managers,establish alliance
between different organizations to share resources and
produce new goods and services, acknowledge mails,
perform acts involving outsiders
 Managerial skills
I. Conceptual skills
✓Helps the manager to see the organization as a whole
and how change in any of it's part affect the whole. It
helps him see the independence parts.
✓The manager should analyses and diagnose the
situation and know causes and effects.
✓Identifies the opportunities.
✓Mobilize people to take advantage of opportunities.
✓Understand the bigger picture.
Ii. Human skills
He should have skills which will enable him to work in
heterogeneous group ie,
✓Ability to delegate.
✓listening skills.
✓Ability to understand,alter,lead and control the
behavior of individuals and groups.
✓Ability to influence people to do the right thing.
✓Ability to handle conflict.
✓Ability to negotiate, persuade, understand.
✓Ability to coordinate and Communicate.
✓Ability to motivate.
✓Ability to build cohesive groups.
iii. Technical skills
These are job specific skills, examples;
✓Ability to work through the structure.
✓Ability to allocate human resources.
✓Ability to manage time efficiently.
✓Ability to set and prioritize objectives.
✓Ability to develop action, plans and implement them.
✓Ability to respond in a flexible manner.
✓Ability to create value.
iv. Self awareness skills
✓Personal adaptability, understand personal biases,self
confidence and need for achievement.
v. Strategic skills
✓Ability to assess the environment.
✓Ability to formulate strategies.
✓Ability to develop mission and vision.
✓Ability to implement the strategies.
✓Ability to align human resources.
✓Ability to practices with strategy, environment and
organizational features and legal environment.