Business Assignment 2 Essay Example | Topics and Well Written Essays - 1500 words

Business Assignment 2 - Essay Examplesbetter, for in human society. Management today is not only restricted to human resource but is now divided into various segments like management of finances, strategic management, operations management, time management, marketing management and crises management. (Finkelman, 2006). in that location are various functions of management that includes planning, organizing, staffing, directing, coordinating, reporting and budgeting. It is through these functions that complete and successful management can be done in an effective and efficient manner. (Finkelman, 2006). there are three different role of management or a motorbus that are interpersonal roles, informational roles and decisional roles. (Covey, 1992). Interpersonal roles includes role of a figurehead, leader and liaison. Informational managers role is of monitoring, disseminator and as a spokesperson. Decisional roles include entrepreneur, disturbance handler, resource allocator and nego tiator (Mintzberg, 1973).In general, there are two attackes to management, the industrial organization approach and the sociological approach. (Covey, 1992). Industrial organization approach deals with economic theory focusing on competitive rivalry, resource allocation and economies of scale. (Finkelman, 2006). Sociological approach deals with human interaction assuming rationality, satisfying behavior and profit sub-optimality. Thus a good management style is a mixture of efficiency and potence without which the desired result can not be reached. (Bush, 2003).A leaderis a person who guides others toward a common goal, showing the way by example, and creating an environs in which other team members feel actively involved in the entire process. A leader is not the boss of the team but a person that is focused to carrying out the mission of the organization. (Bush, 2003). Therefore leadership is the process by which an individual influences others to achieve a common goal and crea ting an environment in which