Management and Operations

MANAGEMENT AND OPERATIONS

This file will lay emphasis on:
 Functions and principles of management
 Traits, style, contingency of leadership.
 Difference between leadership and management.
 Brief background on Marks and Spencer
 Conclusion
INTRODUCTION

 “Management in an art of getting things done through others and with
formally organized groups.” – By Harold Koontz.
 “Management is the art of knowing what you want to do and then seeing
that they do it in the best and cheapest manner.”- By F.W. Taylor
Management

 Functions of Management: There are five functions of
management such as:
 Planning: Planning is the most basic function of management. It is
to plan the future course of action and deciding most suitable
course of action for achieving pre defined goals. Planning in
advance and taking decisions of what is to done and how it is to be
done, bridges the gap between where we want to be and where we
are. It also helps to avoid confusion, wastage, risk etc.
 Organizing: Organizing is to bring together HR, financial, physical
and developing relationship between employees for achievement of
organization goals. It can also be said that it is to provide every
useful thing or function such as tools, raw material etc. Organizing
can be done by identifying activities, then grouping them, assigning
duties, creation of responsibility and coordinating them.
Functions and principles of management