Management is the management of an organization, whether it’s a private company a public non-profit entity, or a governmental agency. The management of such an entity would be considered a department of management. In some types of businesses the term management would also encompass the promotion and the maintenance of the business. In other businesses, however, it would only be a part of the management.
Why is management such a critical element for organizations? Without management, you have managers. Managers determine how much the company as a whole will lose or gain, in what ways the company can be run more efficiently, how resources are utilized, how resources are distributed, how employees are managed, how they are compensated, and how they are promoted and fired. It is management that makes sure the business reaches and attains organizational goals.
There are four primary types of managers found in business operations today. There are executive management, retail management, business management, and service management. While each manager performs slightly different tasks, they are all vitally important to the overall success of the business. Each type of manager may focus on different aspects of the business operations, although all managers should work together as a team to assure that goals and missions are properly and effectively met.
Change management involves the ability to analyze a business and identify the effects that any changes may have on the organization as a whole. Change management involves analyzing the effect that hiring or firing changes may have on the organization’s budget, workforce, sales, production, and customer service. This analysis may require the development of plans and budgets that are essential to meeting the goals of the organization. Successful change management involves evaluating both the positive and negative effects that any changes may have, as well as the ways to mitigate any adverse effects.
Strategic management involves developing and maintaining a written strategy for the organization. These strategies are used to guide the organization in its daily operations and serve as the catalyst for the achievement of organizational goals. This management process also involves the assessment of the organizational strengths and weaknesses, as well as the determination of the ways to strengthen and improve these weaknesses. Successful strategic management focuses on attaining organizational goals and missions, as well as preventing organizational failure.
Decision making involves the systematic process by which an executive makes the determination of whether or not a course of action is beneficial to the organization. Executives make these determinations through a variety of different means, including research, planning, analysis, research and statistical information, and personal judgment. Decision makers also rely on information that is communicated to them by other employees, the leadership, and external events. A key part of the decision making process is the involvement of the human resources department, which involves developing a comprehensive plan for the employment of people in order to attain organizational goals and objectives.
Leading and controlling are the other two key components of the management process. Leading individuals are those in charge of driving the business forward by determining which courses of action will lead to the achievement of organizational goals and objectives and by communicating this to all others within the organization. Controlling individuals are responsible for determining what resources are necessary to achieve the goals of management and for implementing these resources in the appropriate manner. The direction of the business and the control of its direction often rest on the basis of relationships among the managers themselves. Managers can be thought of as connectors who bring people together in order to successfully complete an assignment.
There are many career opportunities for those who wish to pursue change management. These include facility management, financial service management, information technology, health care management, and information systems management. Facilities and facility management involves the management of facilities such as hotels, hospitals, and medical centers. Financial service management involves the management of financial activities of the organization and the handling of cash transactions. Information technology manages computer systems and networks that support the organization’s goals and objectives.