Management process, Contemporary Management Video Lecture | Contemporary Management - B Com

what do managers do? well the management
process is an interrelated set of
activities that are necessary for an
organization to achieve its goals.
managers are involved in planning,
organizing, leading, and controlling. now,
planning, organizing, leading, and
controlling doesn't happen in any kind
of order. it happens all at once. so
managers are constantly shifting gears
back and forth between planning and
leading and organizing and controlling
depending on what the need is at any
given point in time to achieve the
organization's goals. so management
involves planning, organizing, leading, and
controlling to achieve the
organization's goals. planning is
determining what the organization needs
to do and how best to get it done. so it
starts with setting goals
let's take a look at an example: Azeem,
Stephanie, Matt, and Alex are tired of the
long winter. they decide they want to go
on vacation
their goal is to go on vacation. well
where? that goal's a little bit vague. we
need to be more specific in order to
achieve results
let's suppose they land on an objective
hey guys let's drive to Florida for
spring break
part of planning is how to best achieve
the results. this route is not the best
way to achieve the results. you need more
specific detail. so let's suppose our
group does plot out a more efficient route
what else do they need to do? well they
need to add a little bit more detail to
the plan. so Toronto to Fort Lauderdale is
2400 kilometers. if they drive a hundred
kilometers an hour, they will arrive in
24 hours
so here's the plan: meet at Matt's house
on February 12 and leave at noon. that's
pretty specific. each of us will drive
four-hour shifts until we get there
we'll buy takeout food and coffee along
the way and drink it in the car. We'll take quick
washroom stops and we will arrive at
the hotel
february 13th at noon. organizing:
deciding how to best use the resources,
including people, in order to reach our
goals
let's take a look. so here's what
everyone's going to do to help us get to
Florida: we're going to take Azeem's
car. Azeem's going to bring tunes. Stephanie
will bring snacks and she's going to
navigate.
Matt will reserve the hotel room and add
comic relief
Alex will bring change for the toll
booths and help keep us organized.
leading: guiding people to complete the tasks
necessary to reach the organization's
goals
everyone needs to know what they need to
do
someone needs to follow up with them and
keep the group motivated.
controlling: controlling is monitoring our results
and then comparing actual performance
against what we've planned to accomplish. it
involves asking questions such as are we
on track? what are we doing that works well?
what's not working so well that's
preventing us from achieving our
objectives as we planned them and how do
we fix it?
how do we get back on track? let's
suppose that the halfway point between
Toronto and Fort Lauderdale is somewhere
in North Carolina 1200 kilometers and 12
hours later, that is where they should be
according to the plan, but 12 hours into
the drive, the group is only in West
Virginia they're five hours behind
schedule
They should be in charlotte. why?
well they determined that their breaks
have been too long
it's put them behind schedule. so what
options do they have to catch up to
achieve their objective of arriving in
fort lauderdale by noon?
well they can increase their speed to 150
km/h, they could change their objective
slightly, they could continue to drive at a
hundred kilometers per hour and instead
of arriving in fort lauderdale at noon,
arrive a bit later, 5pm, they'd have to
shorten their breaks in order to reach
that objective. so the entire drive down,
the group is planning, organizing, leading,
and controlling to achieve their
objective and they arrived in fort
lauderdale and have a great vacation