How to Prepare Management Notes for Exam?

Management Notes for Exam
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Students face a couple of problems when their exams are approaching nearby. They are tensed and sad, as they do not have the correct solution to complete their work on time. Most of the student face problem in understanding the concepts of management, as they are new to this subject and do not know how to cover major points in it. Before discussing this problem, it is better to know the concept of management that will help the students in future scenario.

What is Management?

Management plays an important role in life from managing anger to managing time in completion of any task. Managing every aspect of life can give you a sense of accomplishment and achieve your goals faster that may help you to have a lot of free time for yourself to relax and enjoy. If the management is good then it will led to the success of an organization. However, if it is poor then it will not help in further growth and development of the organization. It is an art of getting the objectives done with the help of those people who creates the group goals. It will also tell us what to do, when to do and check whether the activities, which are planned, are in accordance with the planned up schedule or not.

Features of Management

  1. Involves group activity-

It is not concerned with individual activities, is concerned with group efforts. If there are more group efforts then the activities, which are planned, will move forward to accomplish the group goals.

  • On-going process

Management is an on-going process that will handle all issues along with solving those major issues. It involves identification of the problems along with taking necessary actions to solve the issues. If the targets of the company are set then they should start using some advanced techniques and policies to achieve those goals accordingly and appropriately.

  • Integration of all resources

Management integrates human with physical and financial resources for the achievement of goals. If there are, only humans working on the field then you need to do put physical efforts and for that, you need get in touch with certain resources.

Levels of Management

There are different levels of management in a company. If the size of the business increases then the level of management will also increase. It includes:

  1. Top-level management –

Managers perform different functions, but the top-level management will cover the job of planning and co-ordination. The main role of top management is to lay the objectives and main policies of the enterprise in front of the subordinates or his/her colleagues. Apart from that, managers issue budgets with schedules and procedures for the middle and the lower levels. They help in co-coordinating the activities of other departments. They provide direction and guidance to other departments.

  • Middle level management-

They are responsible of making plan for the sub units long with participating in employment and lower level training. They are responsible of sending reports to the top-level management. They will also evaluate the performance of the junior mangers.

  • Lower level management

This level is known by the name s operative level of management. They will control the activities, which are planned for accomplishment of the goal. They will assign jobs and tasks to different workers. They will guide them the activities that are conducted on daily basis. They solve the grievances and guide the sub-ordinates. They help in the arrangement of necessary materials long with machines and tools for getting things done. They are also responsible for preparing the reports of the workers long with motivating them to work hard.

Objectives of management

Get good results with less effort-

This is the main objective of the management is to get good results with less efforts or in term of resources. It is the main field where you can get more by utilizing human resources. They will also help in reduction of cost.

Factors of production-

The second objective of the management is to utilize the factors of production that can be easily attained by reducing the wastage and breakage of all kinds of unnecessary cost. It will also lead in saving of time long with money.

Employer and employee prosperity

This is also one of the main objective of the management, which ensures smooth co-ordination of the enterprise. It will give the shape of good working along with wage system that will yield high profit.

Importance of management

Attainment of Group Goals

  • It helps in arranging the factors of production long with integrating the resources in effective manner.
  • It helps in directing the group to achieve goals.
  • Management helps in converting disorganized resources where resources are coordinated along with directed and controlled in best manner.

Proper utilization of resources

  • It helps in utilizing physical & human resources.
  • It helps in providing maximum utilization of scarce resources by selecting the best method.
  • It helps in making use of experts and professional resources.

Cost reduction

  • It helps in reducing cost by getting the good results with the help of minimum input.
  • It helps in using physical long with human and financial resources.

Proper management system

  • It helps in establishing the effective authority & responsibility where, who can give instructions to superiors and subordinates.
  • Management helps in filling up the various positions with right candidate who possess skills long with training and qualification.

Functions of management


Planning

  • It is the first function of management, which helps in deciding future course of action.
  • It also helps in deciding the actions that will help in the achievement of pre-determined goals.
  • This will help in problem solving along with making decision.
  • Planning is a systematic thinking of pre-determined goals.
  •  It helps in ensuring proper utilization of resources.
  • It helps in avoiding the problem of confusion with uncertainties and risks.

Organizing

  • It helps in bringing physical, financial and human resources.
  •  It helps in the identification of different activities.
  •  It helps in classifying the grouping activities.
  •  It helps in the assignment of duties.
  •  It helps in the delegation of authority with the creation of responsibility.
  •  It helps in the coordinating the authority and responsibility relationships.

Staffing

  • It helps in putting right man on right job.
  • It helps in managing the organization structure with proper and effective selection of resources.
  • It helps in filling the personnel designed in the structure.
  • It involves labor planning along with recruitment and selection.
  • It also helps in training and development along with providing the remuneration to the employees.
  •  It also deals with promotion and transfer.

Directing

  • Direction helps the management to deals with influencing and motivating sub-ordinate for the achievement of goals.
  • It involves overseeing the work, which involves the act of checking and controlling.
  • It involves motivation, which helps in encouraging the sub-ordinates to work.
  • It also involves leadership where manager guides and directs the subordinates to move in right direction.
  •  It also involves communication, which helps in passing information along with experience and opinion.

Controlling

  • It helps in checking the activities are moving in right direction or not.
  • It helps in the establishment of performance
  • It also helps in comparing actual performance with the standard set.
  • It helps in taking the corrective actions if required.

Thus, these are the functions of management. Now we will study about the principals of management.

Principles of management

There are 14 principals of management, that have great importance in every field which covers division of labor along with responsibility and authority where the task is allotted and where the person is accountable for the same. You will come cross with importance of management principles that will help you in many ways.

  1. Improvement in Understanding – 

It will help in enabling the managers to decide what should be done in order to handle the particular situations. It will help in making managers efficient where they have responsibility to complete the work in allotted time.

  1. Managers training – 

It will help the management in training side where they give training according to the field selected and they are told to complete the work in n allotted time without doing anything extra.

  1.  Manager’s role–  

Organization will explain the role of mangers in advance so that they will move according to their plans and policies for the achievement of organization goals.

Thus, these are the main principles of the managers in the organization, which will help you in giving appropriate guidance. Most of the students are unhappy with this subject as there are some terms, which are not easily followed by them. They want to take the help from anyone who will be helping them in their queries. They should look for online or offline resources which willing to give them brief introduction about the subjects with its importance in corporate field.

You should also notice about features of these principles that will help you in different fields.

Features of Management principles

  1. It is best for kinds of organizations and can be used in different levels of management.
  2. It helps in indicating cause and effect relationship, which will be result of certain actions.
  3.  All principles are important as they play effective role in different field.
  4. These are important for achieving organization goals.
  5. All principles are equally important.

In short, management is best for:

  • Getting their main objectives done through others along with directing them to achieve organization goals.
  • It helps in deciding what is to be dome and when it to be done.
  • At last checking whether the objectives are maintaining the scheduled plan.
  • It is important in all levels of management
  • It is the best method where tasks are divided into different groups where they do their jobs according to the planning that is done.

Thus, we can say that planning will help the management to think about the future and current plans and make the decisions according to that. We have come across with much information about management where students will get the best ideas about completing the work on time. Apart from that, they will be able to learn many tips along with techniques that would work better for the achievement of organization goals. You will come across subjects that will have minimal or no difference between management & administration. Both are important in an administrative management with proper functions and operative management. If students are willing to get good marks then in that case they have to take the service of professionals who are available online at a pocket friendly cost and by luck even free of cost and you will get more satisfaction when your conceptual knowledge is fully cleared. Students can also take the help from their friends at work.

Today online resources are the best option as they are reliable and flexible in nature. It is simple to get their services from anytime and anywhere. Simply students will have to search for the reliable resources and then take the services after paying the amount asked by them for rendering their services. Some of the best features about the services are as follows:

  • Flexibility part-

Services provided by the online experts are flexible in nature as you can easily avail from anytime and anywhere. Students can also take the advantage of live chat facility where students will be asked to be available anytime of the clock according to the service render’s comfortable mode.

  • Experienced professionals

Professionals are experienced in this field, as they know how to fulfill the needs of the students in the easiest way. They have an experience of many years where they know how to fulfill the needs to get good results.

  • Budget friendly

Services provided by experts are budget friendly, which helps them to avail easily without spending extra from their pocket.

  • Unique information

Information given by them is unique in quality, which can be easily understood by the students.

Thus, they play an important role in the areas of delivering service on time immediately.

Author bio

Teresa M. Amabile is an experienced and knowledgeable person in the field ofManagement and Ph.D. in psychology from Stanford University. She has an experience of 6 years and has provided online tutoring services to management the students. Her blogs provide great help in the field of management and she is ready to provide support to her students in an unparalleled manner.