Definition of Management—difference between effective and efficient What are the 4 functions of Management? (Planning, Organizing, Leading and Controlling) Rewards and challenges of being an exceptional manager Levels of Management—Define the 4 levels of management and tasks of a manager at each level

Management is defined as the pursuit of organizational goals efficiently and

effectively by, integrating the work of people through planning, organizing,

leading, and controlling the organization’s resources.

The difference between effectiveness and efficiency can be summed up as follows:

efficiency in business relates to how much of a product or service is produced in a given time-frame while effectiveness is a measurement of quality.

For example, an effective employee whose target is to produce 5 clothes a day always meets or exceeds this target, while an efficient employee meets the target in record time with minimal costs to the company. By combining effectiveness and efficiency, a company produces better products faster and with fewer resources.

The four functions of Management are:

Planning, Organizing, Leading and Controlling.

1. Planning: This is the role of management that speaks to setting objectives and determining a course of action for achieving those objectives. It requires that managers be good decision makers. There are different types of plans. For example, Strategic Planning, Tactical Planning, Operational Planning.

      2. Organizing: This function relates to the development of an organizational structure, and  the allocation of human resources to ensure the accomplishment of stated objectives. The structure of the organization is the framework within which effort is coordinated.

3. Leading: This speaks to  the social and informal sources of influence that a manager uses to inspire action taken by others.  If managers are effective leaders, their subordinates will be enthusiastic about exerting effort to attain organizational objectives.

4. Controlling: This involves ensuring that performance does not deviate from agreed standards. Controlling consists of three steps, they are:

a) establishing performance standards,

b) comparing actual performance against standards, and

c) taking corrective action(s) where and when necessary.

The four levels of management and tasks of a manager at each level are given below

a Top-Level Management

Top-level managers determine broad strategic strokes for the organization in general, and focus on the big picture. The primary role of the executive team, or the top-level managers, is to look at the organization as a whole and derive broad strategic plans. Top-level management roles are therefore often high stress and high influence roles within the organization.

b. Middle-Level Management

Middle management is the intermediate management level accountable to top management and responsible for leading lower level managers. Middle management is the intermediate leadership level of a hierarchical organization, being subordinate to the senior management but above the lowest levels of operational staff. For example, operational supervisors may be considered middle management.

A middle manager’s role may include:

A middle managers’ roles may include several tasks depending on their department. Some of their functions are as follows:

c. Frontline Management

Frontline management balances functional expertise with strong interpersonal skills to optimize specific operational processes.

Responsibilities of a front-line manager usually comes in two flavors. The first is the expertise required to do whatever it is they are managing. If we are talking about an accounting manager, they must be able to balance the books and understand enough of everyone’s specific function to fill the gaps.

On the managerial side, front-line managers are often tasked with hiring, assessing performance, providing feedback, delegating functional tasks, identifying gaps, maximizing efficiency, scheduling, and aligning teams.

d. Functional Management

A functional manager is a person who has management authority over an organizational unit—such as a department—within a business, company, or other organization.

Functional managers have ongoing responsibilities and are not usually directly affiliated with project teams, other than ensuring that goals and objectives are aligned with the organization’s overall strategy and vision.

Cheers!

answer: 11/12

step-by-step explanation: 4 1/4 and 3 1/3 is equivalent to 4 3/12 and 3 4/12. 4 3/12 - 3 4/12 =11/12

correct, but each time you dont pay the price of the penalty can increase.