Top 10 Areas on Which Good Managers Develop Key Terms and Learn Key Points

Management is the management of an entire organization, whether it’s a private organization a public non-profit agency, or governmental body. The term can be used to refer to a number of things. For instance, in the United States the Department of Labor has its own department of labor whose sole responsibility is to manage labor practices within the country. In that capacity, they conduct training, negotiate disputes, and monitor compliance.

Management, like most of the other subjects that we study in business school, is usually taught in a classroom setting. In classrooms, students are taught about the theory and skills involved in the discipline. They learn about market structure, risk, cost benefit analysis, decision making, planning, and organizing. They are taught about the five important strategic points – strategy zero, strategy one, strategy three, strategy four, and strategy five – as well as the concepts such as cost-benefit analysis, internal and external conflict resolution, and learning and growth. A key point that is often not covered is marketing. Marketing for managers is an integral part of organizational charts.

But what do good managers do? There are some standard routines that all good managers follow. The most important topics include planning, organizing, controlling, and exercising power. The following key terms in management are planning, organizing, controlling, and exercising power:

Planning, as defined by Halliday and Plesz, is “the procedure by which an individual or a group determines the effective operation of a structure for its complete existence.” In other words, it is the process of designing a plan or process for realizing organizational goals and objectives. Good managers spend long hours planning. In addition, they organize their staff to work in unison to realize their objectives. Planning and organizing also refer to the controlled use of human resources to accomplish objectives and prevent risks.

Controlling is “the regulation of action so as to meet the anticipated effects” (Putnam). A manager controls the direction, timing, sequence, and results of the group of people doing the work. The ultimate goal of management is to get things done by a group in the most productive manner possible. Planning, organizing, and controlling are the processes involved in achieving this. They cannot be done effectively without the leadership of the group concerned and a commitment to the accomplishment of specific objectives by a group.

Achieving organizational objectives is not the end; it’s only the beginning. In addition to plans, organizing, and controlling, good managers learn and implement a series of key points: listening, designing, executing, leading, and supporting. These key points are the building blocks of organizational success. Hopefully these key points will help you in your career as a managerial executive.

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