Managerial work is one of the most important human activities. From the formation of the first social organizations that were made to accomplish various aims and objectives that could not be accomplish as individuals, managers have been essential to ensure the coordination of individual efforts. As society continuously relied on group effort, and as many organized groups have become large, the task and requirement of managers has been increasing in importance and complexity. Henceforth, managerial theory has become crucial in the way managers manage complex organizations. The aim of this paper is to differentiate the many types of management types from all over the world. Managers gain their different managing styles by either being born a natural manager, Theoretical knowledge(school), Interpersonal relationships with other leaders and school of hard knocks (making mistakes). Managers with mixed management theory in their day to day practice have a better chance of managing organizations more efficiently and effectively. Therefore, managers of contemporary organizations are to appreciate the important role they play in their respective organizations if they are to achieve the set goals.
Secondly, there is need to promote excellence among all persons in organizations, especially among managers themselves. To address these concerns, this paper will proceed with the following spectrum: management defined for purposes of conceptual clarity; management objectives, functions, goals, and essence. The importance of managerial skills and the organizational hierarchy will be sketched, the importance of women in the organizational hierarchy will be emphasized, reasons for studying management theory will be enumerated, the different management theories.
Definition of Management
Management is the art, or science, of achieving goals through people. Since managers also supervise, management can be interpreted to mean literally “looking over” – i.e., making sure people do what they are supposed to do. Managers are, therefore, expected to ensure greater productivity. Management refers to the development of bureaucracy that derives its importance from the need for strategic planning, co-ordination, directing and controlling of large and complex decision-making process. Essentially, therefore, management entails the acquisition of managerial competence, and effectiveness key areas such as problem solving, administration, human resource management, and organizational leadership.
There are basically three management objectives. One objective is ensuring organizational goals and targets are met with the least cost and minimum waste. The second objective is looking after health and welfare, and safety of staff. The third objective is protecting the machinery and resources of the organization, including the human resources.
To understand management, it is of vital importance that we break it down into five managerial functions, namely; planning, organizing, staffing, leading, and controlling.
Planning requires the management of an organization to do thorough evaluation of the current state of the company and where the company will be in future. It involves setting goals and objectives to be achieved by an organization within a specified duration . During the planning process, management evaluates both internal and external factor s that affect the company.
This requires management to organize all the available resources in an organization towards the achievement of the set goals and objectives set during the planning stage. This stage helps management to be able to organize resources in the best way, organize human resource and other factors within the organization for it to achieve the set goals. Organizing helps management to determine the internal structure of the company and the best way in which achieve good results.
Directing helps management to monitor staff and direct resources to influence the conduct of staff to work towards achieving the goals of the organization. Directing also assists management to help employees in accomplishing their career objectives and being part of the organization. Directing needs effective communication and building of positive interpersonal relationship s between management and staff.
includes setting and establishing standards to be achieved within the organization. It also involves evaluation of results in comparison with the set standards and incase of any variations, it helps management to come up with the appropriate measures.
The four functions of management are crucial for an organization to succeed. Therefore these functions should be properly developed and implemented for an organization to succeed.