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The importance of effective management

To a very large extent the success or failure of a business operation is dependent on the role of management. This tutorial explains the commonly used planning, organisation, leadership and control (POLC) management model. Outcomes Responsibilities of management Management skills Exercise: management skills Exercise: roles of management More HSC Topic 1: Business Management and Change is covered in the NSW Board of Studies Syllabus (June 1999) on pages 25 26. The specific outcomes for this section are:

Outcomes
The student:

H2.1 describes and analyses business functions and operations and their impact on business success H3.2 evaluates the effectiveness of management in the organisation and operations of business and its responsiveness to change

H5.3 communicates business information, ideas and issues, using relevant business terminology and concepts in appropriate forms

Responsibilities of management
Management is the process of planning, organising, leading and controlling all phases of business operation in order to achieve the objectives of that organisation. Effective management invariably results in business success, while ineffective management often results in business failure. The role of management is one of responsibility to the owners of a business. Management is entrusted with the responsibility for:

determining the business objectives in line with the vision of the business, proactive planning for future growth, anticipating and planning for changes in the business environment, integrating all the human, physical and informational resources available, administering and controlling business activities, and accountability for the business operation and results.

The POLC cycle


Planning Planning establishes objectives and devises programs to achieve them Establish mission statement Determine specific

objectives Controlling Keeping up standards Assess and monitor performance Compare with set standards Identify variants Take remedial action Select strategies Implement programs Review and evaluate Organising Develops an organisational structure to implement strategies Determine the way the business will operate Choose tasks to be done Determine the input mix Assign tasks Delegate authority and responsibility

Leading Use of power or influence to get the best out of workers Give clear directions Set the example Communicate Motivate

Management skills
Various skills are related to each of the four management functions. Planning

Skills required for Planning

Examples of skills

Application

Strategic thinking Highly developed conceptual skills Capacity to view organisation as a whole Product-related and technical knowledge

Vision

Decision making

Understanding of what can be done now Clear focus on the big picture Able to perceive opportunity Clear foresight Able to integrate component parts into an interacting whole Knowledge of support services Awareness of alternatives through ability to assemble data Ability to assess alternatives and decide Creative and lateral thinking skills Clear understanding of the competing interests of stakeholders; ability to maintain a balance between competing goals Highly developed conceptual understanding of all interacting parts Ability to communicate decisions clearly

Organising

Skills required for Organising

Examples of skills Self managing

Application Time management skills Capacity to stay focused Understanding of the role of support services in the organisational framework Providing networks for effective information flow Coach, teacher, mentor roles in creating and developing groups Delegation of team roles, tasks and responsibility

Teamwork

Leading

Skills required for Leading

Examples of skills People skills

Application

Understanding how people think and act Ability to motivate workers Creation of a harmonious workplace Effective written and oral communication skills Successful delegation Complex problem Ability to gather and assess data to isolate a solving problem Sensitivity to the needs of others Procedures for dispute resolution

Ethical and high personal standards


Controlling

Negotiation skills learned and practised Generally agreed qualities of decisiveness, consistency, responsiveness, trustworthiness, friendliness and approachability

Skills required for Controlling

Examples of skills Skills involving setting of performance standards & measurement of performance Flexibility & adaptability to change

Application Technical measurement and diagnostic skills A wide variety of effective communication skills Preparedness to face up to identified weaknesses

Willingness to move in a new direction Constant evaluation of decisions taken in the light of subsequent performance Consistent monitoring of the changing external environment

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