Importance of Management Functions and Principles
Management is the coordination and oversight of the work activities of others so that their activities are completed efficiently and effectively. In order to carry out those responsibilities, management requires the application of several important functions, skills and roles to carry out the necessary activities in the organization effectively and efficiently. Effectively meaning doing things right so that the organizational goals can be attained and efficiently meaning getting the most output from the least amount of inputs. Furthermore, management is entrusted with the responsibility of shaping the business objectives that is in line with the vision of the business, proactive planning for future growth, anticipating and planning for
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On the other hand, decisional roles are basically the ability of management to make precise decisions and choices. It can be categorized into an entrepreneur who seeks opportunities, a negotiator who represents the organization at major negotiations, a resource allocator who makes or approves all significant decisions related to the allocation of resources and the disturbance handler who is responsible for taking corrective action when the organization faces disturbances.
According to Robert L. Katz, three essential skills are to needed to assist in the carrying out of business operations effectively and efficiently. These skills required are technical skills, human skills and conceptual skills. Technical skills are job specific knowledge and techniques needed to proficiently perform work tasks and examples of technical skills are writing computer programs, completing accounting statements, analyzing marketing statistics, and writing legal documents.
Human skills refers to the ability to work with, motivate, and direct individuals or groups in the organization whether they are subordinates, peers, or superiors. It relates to the individual's expertise in interacting with