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Girls here with we have attached you the link for Alumni database. Kindly ensure and register the details by using the following link
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Management:-Features
Defintion:
} Management
is an organ; organs can be described and defined only through their functions.”
Peter F. Drucker
Features of Management:
} Management aims at maximising profits
} Decision making
} Management is a profession
} Universal application
} Management is getting thing done
} Management as a class or a team
} Management is a career
} Direction and control
} Dynamic
} Management is needed at all levels
} Leadership quality
Management aims at maximising profits:
Ø Management aims to utilise the available resources
properly to get desired results.
Ø The results should be maximising profit or increasing
profits by the economic function of the manager.
Decision Making:
Ø Management
needs to take number of decisions everyday.
Ø Decision making arises only when there are alternative
courses of action.
Management
is a Profession:
Ø Management
possesses all the qualities of a
profession .
Ø A fund of
knowledge is imparted and transferred and the same is followed by management.
Universal
application:
Ø The principles and practices of management are
applicable not to any particular industry alone but applicable to every type of
industry.
Ø The practice of
management is different from one organisation to another according as to its
nature.
Management
is getting things done:
Ø A Manager does not actually perform the work but he
gets things done by others.
Ø According to Knootz and O’Donnel “Management is the
art of getting things done by through and with people in formally organised groups.
Management
as a team:
Ø A team may be defined as a group of people having
homogenous characteristics to achieve common objectives.
Ø Ex.Engineers and Doctors are grouped as a class.
Management
as a career:
Management is developed as a career focussed on
certain specialisation.
Area of the specialisation of Management
Ø Financial
management
Ø Cash management
Ø Marketing
management
Ø Personnel
management
Ø Industrial
management
Ø Business
management
Direction
& Control:
A manager can
Ø direct the sub-ordinates in the performance of a work
Ø control them whenever necessary
Ø direction and control deals with the activities of
human effects
Dynamic:
Ø The management is not static.
Ø In the fast developing
business world new techniques are
developed and adopted by the management .
Ø It is changes
according to the social change
Management
is needed at all levels:
Ø The functions of management are common to all levels
of organisation.
Ø The top executives perform the functions of planning,
organising, directing, controlling, and decision making .
Ø The same functions are also performed by the lower
level supervisor.
Leadership
quality:
Ø Leadership quality is developed in the person who is
working in the top level management.0
Ø According to
R.C Davis ,” Management is the function of executive leadership everywhere”.
R.VANAMADEVI - 11.09.2020
What is Business Communication?
Business
communication is the process of sharing information between people inside and
outside a company. Some types of business communication include:
Beyond
just sharing information, effective communication is also essential for
conducting day-to-day business processes and tasks such as:
Working
with other companies in your supply chain
The Importance of Business Communication
Effective
communication is a must for any
modern business that wants to develop a competitive advantage and be truly
successful. Why?
The
purpose of business communication is to improve processes and reduce
errors—which has become even more vital in today’s hyper-connected,
digitally-driven business world. When you and your employees are using so many
different devices, tools, software, applications, and platforms to conduct
various business processes, you need to ensure that everyone is on the same
page and working towards the same organizational goals. Although using many
different tools at once increases the risk for error or something slipping
through the cracks, strong communication can greatly minimize their risks.
If
there are miscommunications, your core systems and processes
could quickly fall apart—negatively affecting your business, your customers,
and your employees. In fact, yet another benefit of strong business
communication is higher employee engagement. When employees are aware of their
personal goals, team goals, and the goals of the overall organization, they can
work towards them with motivation and confidence.
After
all, if your employees have no idea what the goals of a certain initiative are,
don’t feel comfortable going to their manager with a problem, or asking their
coworker for feedback, how are they supposed to do their jobs effectively?
Plus,
when employees feel they can communicate and build relationships with their
managers, coworkers, and clients, they’ll be happier on the job. This helps to
reduce your turnover rate and the high expenses associated with employee
turnover.
When
your employees are engaged and satisfied, they’ll also be more productive,
which means they’ll be able to produce a higher quantity and quality
of work—meaning happier customers and more revenue for your business. The proof
is in the numbers: companies with a highly engaged workforce see a 19.2% growth in
operating income over a 12-month period, while those with low engagement scores
earn on average 32.7% less!
Problems Solved by Effective Business Communication
Without
the right business communication processes in place and tools to carry them
out, the flow of information in your business will be quickly interrupted—which
means miscommunications, uncertainties, and errors.
On
the other hand, having the proper business communication processes can minimize
risk, frustration, and a whole slew of problems, including:
Types of Business Communication
There
are two main types of business communication in a typical organization:
1. Internal Business Communication
Internal business communication is
any form of communication between people inside your organization. There are
three main forms of internal business communication:
2.
External Business Communication
External business communication is
any form of communication that leaves your office and internal staff. It
involves communicating with external parties, which might include:
Methods of Business Communication
When
business communication actually happens, it’s either verbal or in written form.
Furthermore, both verbal and written forms of business communication will take
place either in-person or remotely.
There
are pros and cons of each—while in-person communication makes it easier to read
the other person’s body language and reduce miscommunications or errors, remote
communication is essential in our modern workforce while “working from
wherever” is the new norm.
That
being said, here are some of the most common methods of business communication:
Creating Your Business Communication Process
Solid
business communication processes are essential for the happiness and
productivity of your employees, as well as the satisfaction of your customers.
But where do you even start when creating them? Follow these steps to set clear
processes that will transform communication in your business:
1. Analyze your current state of business communication
You can’t improve your business
communication processes if you don’t know where they currently stand. So, the
first step towards creating new processes that will take your business
communication to new heights is to take a good hard look at where you’re at
right now.
2. Identify gaps and roadblocks
While you’re taking stock of your
current business communication processes, think about the issues you and your
employees often face. For example, is there one specific team that had low
employee engagement scores from a recent job satisfaction survey you conducted?
Are employees in a particular department struggling to complete projects
effectively and on time? Do you have poor customer service reviews online?
3. Outline core groups in your organization and how they
communicate with each other
Look into the structure of your
organization and how these groups interact with each other. Just some examples
of questions you’ll want to ask include:
4.
Set future business communication goals
Now that you know where your
business communication processes currently stand, where the issues are, and who
everyone needs to be able to effectively communicate with going forward, it’s
time to set some goals. You want your goals to be realistic, timely, and measurable.
For example, some business communication goals could include:
5.
Define methods of communication
Now that you have some goals set,
you can choose the methods of business communication that will align. For
example, for the goal of reducing the amount of unnecessary emails sent next
quarter by 20%, a great start would be outlining when is the right time to send
a quick instant message instead of an entire email.
6. Document and share your new business communication
processes
Setting goals won’t mean anything if
you can’t hold yourself accountable to actually meeting them, and defining
methods of communication for various situations will be futile if your
employees don’t know about them. For these reasons, it’s essential to actually
document your business communication goals and processes. Then, you can easily
share these documents with others in the organization and refer back to them as
needed. These documents will also be a valuable tool that can be shared with
new employees to get them up to speed quickly.
7. Evaluate progress and readjust as needed
The goal here is to continuously
improve your business communication processes so your business can become more
efficient and your employees can stay engaged on the job long-term. For this
reason, it’s important to continuously check in on your progress and identify
if you’re on track to meet your goals or missing the mark. This way, you can
make adjustments as necessary.
You
may want to consider creating a recurring calendar reminder for yourself and
your team to reevaluate your business communication processes and progress
towards your goals once a quarter. This way, you can determine if you’re still
on the right path or if you need to pivot.