REVIEWER IN OM

MANAGEMENT
- is the process of getting things done, effectively and efficiently, with and through other
people.
- Laten word manus, meaning “hand”.

EFFIECIENCY - refers to getting most output from the least amount of inputs. Its often referred
to as “doing things right”.
EFFECTIVENESS - is often described as “doing the right thing”.

Levels of Management - refers to a line of differentiation between various managerial

positions in an organization.
Top Level of Management - It consists of board directors, chief executive or managing director.
Middle Level of Management - The branch managers and departmental managers constitute
middle level.
Lower Level of Management - It consists of foreman, supervisors, sales officers, account
officers.

MANAGEMENT FUNCTIONS
PLANNING, ORGANIZING, STAFFING, DIRECTING, CONTROLLING
Planning - involves choosing tasks that must be performed to attain organizational goals.
Organizing - is the management function that follows after planning, it involves the assignment
of tasks, the grouping of tasks into departments
Staffing - is to obtain qualified personnel for different job positions in the organization.
Directing - is the functioning of guiding, inspiring, overseeing and instructing people towards
accomplishment of organizational goals.
Controlling - determines what is being accomplished – that is, evaluating the performance
and, If necessary, taking corrective measures so that the performance takes place according to
plan.

PRINCIPLES OF MANAGEMENT
Henry Fayol as the “Father of Modern Management Theory” developed 14 principles of
management.
1. Division of work - Means dividing the work based on skill and interest of workers.
2. Authority and responsibility - It means the peson who has been assigned a task or
responsibility has a duty or obligation to perform it.
3. Discipline - subordinates should respect their superiors and obey their order.
4. Unity of command - Each employee should have only one boss to report to.
5. Unity of direction - Means all the person working in a company should have one goal
and motive wich will make the work easier.
6. Subordination of individual interests - Indicates a company should work unitedly towards
the interest of a company rather than personal interests.
7. Remuneration - employees should get a fair remuneration so that employees and the
owners fin equal amount of satisfaction.
8. Centralization - Henri Fayol stressed on the point that there should be a balance
between the hierarchy and division of power.
9. Scalar chain - There should be a clear line of authority within the organization, from the
top to the bottom. This helps to ensure that orders are communicated and carried out
efficiently.
10. Order - There should be a place for everything and everything in its place. This helps to
create a safe and efficient work environment.
11. Equity - Managers should treat all employees fairly and with respect. This helps to create
a positive work environment and motivate employees.
12. Stability - Employees should have job security. This helps to reduce turnover and create
a more stable workforce.
13. Initiative - Employees should be encouraged to take initiative and be creative. This helps
to improve the organization's performance and innovation.
14. Esprit de corps - Refers to team spirit.