Principles of Management Essay

This essay has a total of 357 words and 2 pages.

Principles of Management

Management is a set of activities directed at an organization's resources with the aim of
achieving organizational goals in an efficient and effective manner. The first function of
management is planning and decision making. Planning is setting and organization's goals
and deciding how best to achieve them. Decision making is part of the planing process that
involves selecting a course of action from a set of alternatives. Bill Gates used this by
first deciding what business to initiate, then what software to develop. The second
function of management is organizing. This is defined and the grouping of activities and
resources in a logical fashion. This included whom Gates chose to start the business with
and with what capital they used. The third management function is leading. This is the set
of processes used to get members of the organization to work together to achieve the goals
of the organization. Gates fosters communication throughout the organization and stresses
the need to keep the firm lean and nimble, always wanting to avoid the bureaucratic
procedures that saddle many big companies. The final function is controlling, or
monitoring organizational progress toward goal attainment. This is done by keeping a close
eye on the bottom line at all times and closely analyzing monthly and quarterly sales

Managers have ten basic roles to play: three interpersonal roles (figurehead, leader, and
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