Functions of management (1)
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Planning is a critical managerial function for any business. It involves establishing goals, objectives, and plans to achieve future aims in an efficient and effective manner. Key aspects of planning include conducting a SWOT analysis, defining company values, vision, and mission, and creating strategic plans. Organizing is defining roles and responsibilities and coordinating resources to successfully implement plans. Staffing involves recruiting the right people and treating employees well to attract and retain talent. Leading can take different approaches but focuses on achieving goals through others. Monitoring keeps track of budgets, targets, costs, revenues and more to ensure the business is operating as intended.
Functions of management (1)
- 3. PLANNING • If you are planning for one year, grow rice. If you are planning for 20 years, grow trees. If you are planning for centuries, grow men! • Chinese Proverb
- 4. PLANNING • Goal – what is it? • Objective – what is it? • Plan – what is it?
- 5. PLANNING • Objective – A clear specific measuring post indicating progress towards achieving a short term goal. • Goal – An overall or longer term aim providing focus for day to day activities • Plan – projected courses of action aimed at achieving future objectives – they provide clear goals and map the activities needed to achieve them effeceintly and effectively – they are the propellers of an aeroplane or rudder of a ship
- 6. • Planning is critical for business – we have to organise our day’s, weekly, monthly, yearly and long range activities. • Planning gives us direction and helps identify and focus important issues for business. • Gap Analysis – see hand out • Values • Vision • Mission • SWOT Analysis • Strategic Plans
- 7. • Values – what is important to a person or a company Egs – being impartial, free from discrimination, ethical, fair, flexible, safety, trust, customer focus – Tylenol challenge in 1980 • Vision – where we are headed – expresses what a business truly wants to achieve – aims to challenge, inspire and stretch people in a company – Eg – Disney’s vision is ‘ to make people happy’. • Mission – How will we get there? The path to reach the vision
- 8. • Developing a Strategic Plan 1. Based on the Values of the business 2. Based on Vision of the business 3. Based on Mission of business 4. SWOT your business 5. Focus on top important issues 6. Design the objectives for (5) above – this is your strategic objectives 7. Do a Gap analysis 8. Get to WORK! 9. Do the SMARTT Plan
- 9. ORGANISING • What is organising? – • It is defining roles, responsibilities and arranging and coordinating the resources needed to successfully carry out plans – Right People in the Right Seat in the BUS called BUSINESS
- 10. STAFFING • What is staffing? – • People are a hotel’s most valuable resource – the hotel needs the right people to be attracted to join it – then it is recruiting, training to do their jobs effectively and treating them well to retain them. • Losing employees is easy – recruiting is twice as hard – Let’s do a costing of recruitment? • Disney’s recruitment policy – what is most critical – Is it recruiting or training?
- 11. LEADING • Leadership is about achieving business goals through the work of others David Karpin • Trait Approach – focusses on personal qualities such as height, intelligence, genetic etc • Transformational Approach – leads the organisation in new direction through leaders talent and drive • Charismatic Approach – leads through personal magnetism, charm and other qualities – Eg Steve Jobs of Apple Computers, JW Marriott of Marriott Hotels • Narcisstic Approach – leads through personal skills, magnetic attraction and also are distrustful of others and consider themselves invincible – Eg Napolean, Bill Gates,
- 12. LEADING • Styles of Leadership – 1. Dictatorial – lead through force and threats – “you do not lead by hitting people over the head – that is assault, not leadership” – Eisenhower 2. Authoritarian – task centred leaders, want to control, decision making is very limited 3. Democratic – participative leadership – people centred style 4. Laissez Faire – use delegation and leave employees to do their jobs with little or no input from themselves
- 14. MONITORING • How are we doing? • Are we operating within the budget? • Are we meeting our targets? • It is keeping an eye on how the business is doing – checking on budgets, materials, costs, staff, revenues, quality, safety measures etc
- 15. GROUP WORK • Imagine that you are managing a restaurant – for each of the managerial functions list Five Activities that you would regularly undertake • In groups work on each function • 5 Minutes