What is Management and how do we measure Managerial Performance? This is one of the favorite question in tests and final exams.
There are many definitions
discussed by scholars and experts in the field of management. The most famous
is the definition coined by Mary Parker
Follet, a lecturer and management theory writer from UK. She defined
management as the "art of getting things done through other people". From her definition, we can conclude to say
that management is convincing people to towards achieving goals and objectives
set by the organization. Another broader definition of management is mentioned
by Stoner, Freeman and Gilbert (1995)
stating that management is “the process of planning, organizing, leading and controlling
the efforts of organization members using all other organizational resources to achieve stated organizational goals”.
Organizational resources refer to land, labor, capital, technology, raw
materials and process. Goodman and Fandt
(2004) described management as “the process of administering and
coordination resources effectively, efficiently, and in an effort to achieve
organizational goals”. Based in the above definitions, the key words most
commonly use here is influencing people, utilizing resources and achieving
organizational goals.
A manager’s performance can be
measured by looking at two criteria i.e., effectiveness and efficiency. Effectiveness is achieved when the
organization pursues the appropriate goals while efficiency is achieved by using
the fewest inputs to generate a given output in other words minimizing cost of
resources needed to achieve goals. Effectiveness can be seen as “Doing the right
things” while efficiency can be said as “Doing things right”.
Your managers are one of the most important parts of your company’s infrastructure, as they’re responsible for the success of your individual projects, for the performance of any retail and/or wholesale outlets your company manages, and for the overall effectiveness of your management team.
ReplyDeleteBut while management candidates may look wonderful on paper or may “feel” like a good fit for the position – especially if they’ve been promoted from within the company – objectively evaluating your management team is an essential skill that must be cultivated. In order to do so, you must first disassociate yourself personally in order to measure individual managers and candidates based on standard expectations, performance and group cohesion.