The Management

Concept
 Nature of Management
Management is a science as
well as an art. It is a body of
knowledge whose ideas and
principles have become the
basis of organizational
frameworks employed by many
businesses and organization.
 Management
It is the process of planning, organizing,
leading, and controlling the activities of an
organization effectively and efficiently to
achieve its goals.
It lays out the foundation of successful
operations that lead to efficiency and
profitability, and establishes the link between
the development of strategies and their
implementation and control.
 EFFICIENCY
It is the ability to maximize output
with minimum input. It is often
reffered to as “doing things right” and
seek to limit the wasted input which is
costly for a business. There is an
element of speed in efficiency since it
requires things to be done quickly to
avoid wasting time and effort.
 EFFECTIVENESS
It is the capacity to attain an intended
objective or result. It is often called
“doing the right thing.” The intention is to
meet the desired goal regardless of the
amount of input required. Careful
analysis and critical thinking are present
in effectiveness. If there is a goal that
needs to be achieved , the things that
need to be done are prioritized to achieve
its goal.
FACTORS INFLUENCING MANAGEMENT

Globalization
Technology
Sustainability and Corporate
Social Responsibility
Psychology
Ecosystems
 GLOBALIZATION
It refers to the phenomenon of
growing interconnectivity and
interdependent relations between
nations. This growth has been
greatly influenced by the
advancement in technology,
transportation, communication and
education as well as the gradual
deregulation of trade.
 TECHNOLOGY
Technology is one of the main driving forces of
business. Advancement in this area have immensely
improved business trade.
For example, customers and suppliers now use
websites, social media and email in several
business functions.
This has led a number of companies to establish
“virtual places” where people no longer need to
interact in a physical space or office but mostly
collaborate and share information online.
 SUSTAINABILITY
It means that companies should plan and conduct
long-term business operations to ensure minimal
negative impact on the social, cultural and
economic aspects of their external environment or
community. Ex. Recycling, reduction of energy
consumption and the use and production of eco-
friendly products.
 CORPORATE SOCIAL RESPONSIBILITY
It is defined as the willingness of companies to run
their business operations in the sustainable and
responsible manner. Ex. Social outreach program,
support of significant causes, other forms of
philanthropic activities.
PSYCHOLOGY
It focuses on developing people
management skills and analyzing
customer satisfaction.
A better understanding of
psychological concepts such as
motivation, behavior, attitude,
and personality.
 BUSINES ECOSYSTEM
It consists of group of firms that provide
related products and services. The
emergence of business ecosystems has
resulted in improvements and innovations in
industries.
A good example is the collaboration
between telecommunication firms, media
and technology to disseminate information
to the public.
 SEATWORK
1.What important role does
management play in organizations?

2.Should one be effective first before

being efficient or is it the other way
around? Justify your answer.
 OUTPUT NO. 1
( THE MANAGEMENT CONCEPT)

Visit a fast-food restaurant

and observe how the manager
attends to customers and
employees. Record your
observations and make a
reaction from your task.