What Is Management?

What Is Management?

What Is Management? Jonathan Poland

Management is the process of overseeing and coordinating the activities of an organization in order to achieve its goals. This involves making decisions and implementing plans to direct the use of the organization’s resources in the most effective way possible. Management is a fundamental function that is necessary for all organizations, regardless of their size or type. Effective management is essential for ensuring that an organization operates efficiently and effectively.

Management functions are the activities or tasks that are carried out by a management team or position in order to create value for an organization. In an academic context, these functions are often presented as a set of four or five categories, such as planning, organizing, staffing, leading, and controlling. However, other functions, such as communication, may also be important for effective management. A more comprehensive list of management functions may include additional activities such as decision-making, problem-solving, and innovation. Overall, the specific management functions that are required will vary depending on the needs and goals of the organization.

The following is a list of important management functions.

Administration Benchmarking
Budget Control Budget Planning
Business Analysis Business Improvement
Business Optimization Business Processes
Communication Compliance
Cost Control / Reduction Customer Relationships
Decision Making Delegation
Directing Employees Efficiency Use of Resources
Employee Feedback Employee Performance
Estimates Financial Controls
Forecasting Goal Setting
Handling Issues Internal Controls
Investor Relations Knowledge Development
Knowledge Sharing Management Accounting
Negotiation Organization
Organizational Structure Partner Management
Policy Problem Solving
Procedures Procurement
Project Management Recruiting
Reporting Resource Utilization
Responsibility & Accountability Risk Control
Risk Identification Risk Mitigation
Role Planning Strategy Planning
Supervising Employees Team Culture
Training Work Coordination
Work Productivity Working Conditions

The following are important management skills.

Accountability Analysis
Asset Management Automation
Benchmarking Business Processes
Communication Compliance
Continuous Improvement

Direction Ethics & Principles
Financial Management Forecasting & Estimates
Goal Planning Human Resource Management
Internal Controls Issue Clearing
Knowledge Management Leadership
Measurement Negotiation
Organizational Structure Organizing
Performance Management Planning
Policies & Procedures Procurement
Recruiting Relationship Management
Reporting Research & Development
Risk Management Stakeholder Management
Strategy Transparency

The following are common examples of management tasks.

Benchmarking Budget Administration
Business Analysis Business Cases / Plans
Business Continuity Planning Business Experiments
Business Measurements Business Process Design
Coaching / Mentoring Compliance Implementation
Compliance Reporting Conflict Resolution
Contract Administration Customer Advocacy
Customer Relationship Management Data Analytics
Decision Making Delegation
Direction & Control Document Management
Employee Communication Exception Handling
Feedback Financial Analysis
Gap Analysis Goal Setting
Governance Meetings Influencing
Internal Controls Interviewing
Investor Communication Issue Clearing
Knowledge Communication Knowledge Development
Knowledge Management Meeting Facilitation
Meeting Management Metrics
Negotiation Onboarding
Operations Analysis Organizational Structure
Partner Management Partner Relationships
Performance Reviews Pilots
Presentations Prioritization
Problem Solving Process Implementation
Process Monitoring Process Optimization
Procurement Product Launch
Product Management Project Management
Project Oversight Project Planning
Project Sponsorship Prototypes
Public Relations Public Speaking
Quality Assurance Quality Control
Quality Planning Recruiting
Reporting Requirements Development
Research & Development Resource Planning
Restructuring Retrenchment
Risk Identification Risk Management
Scenario Planning Scheduling
Stakeholder Communication Stakeholder Management
Standards Compliance Strategy Planning
Team Culture Training
Work Review Work Supervision
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