Management Theory And Practice Essay Example | Topics and Well Written Essays - 3000 words

Management Theory And Practice - Essay Example Management is the dynamic, life-giving element in every business. Without it the resources of production remain resources and never become production." (Sharma, 2004 11) This definition emphasizes that the managers achieve organizational objectives getting things done through the employees. Human resource Management is very essential for successful running of an enterprise. It ensures proper use of physical and human resources by deriving the best results. It leads to efficient performance and higher productivity. Human Resource Management is very essential for every organization to make productive use of human physical and financial resources or the achievement of the organizational goals. It helps in determination of objectives. No organization can succeed in tits mission unless its objectives an identified and well denied. Management helps in achieving these objectives by the efficient use of resources. "Planning is the selection and relating of facts and making and using of assumptions regarding the future in the visualization and formalization of proposed activities believed necessary to achieve desired results" (Sharma, 2004 26). Planning is straightforward, and the process of planning can be summarized in five steps, which can be adapted to suit any planning activity at any level in the organization with the support of highly skilled individuals. (Yvonne 28) Assess... Policies, procedures and rules are often referred to as standing plans; they are automatically activated when certain events occur. The Planning Process Planning is straightforward, and the process of planning can be summarized in five steps, which can be adapted to suit any planning activity at any level in the organization with the support of highly skilled individuals. (Yvonne 28) Step 1 Establish a goal, or a number of goals. Planning begins with defining what the organization wants to achieve. Being as specific as possible, and establishing priorities will assist the organization in focusing its efforts. Step 2 Assess the present situation and forecast the future situation. The current situation needs to be assessed and analyzed before future activity can be investigated. Questions such as 'How far is the organization away from its goals 'And 'What resources does it have to reach the goals' need to be addressed. A SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis needs to be undertaken. This involves identifying the strengths and weaknesses of the organization and determining the opportunities available to the organization and the threats it faces Step 3 Develop and evaluate alternatives. After auditing the resources of the organization and making forecasts, it is likely that there will be several courses of action, which could accomplish the organization's goals. These must be carefully evaluated. Step 4 Implement the plan. Once the choice has been made from the various alternatives, the plan can be drawn up and implemented. However, planning alone is not a guarantee of success. Success depends on the effective implementation of the plan, and involves management skills in organizing, staffing, leading and