Understanding The Fundamentals of Management

A simple explanation of the “fundamentals of management” for non-practising managers and non-MBAs

Management is a magical word these days ! Almost every one wishes to study for a management degree (MBA) and acquire an exalted station in ones career.

MBA is seen as a passport for success !

It is true that MBA is a suffix with ones name, that allows one to think of an annual pay package that any earlier generation would have dreamt of earning in a decade… or even in a life time of dignified pencil pushing !

Management is surely a magical word !

Though it is a different matter …that in this boom a lot of unscrupulous as well as also-ran institutes have opened up shop… and are enticing the gullible hoi-polloi !

But one thing is for sure : a management degree is, in all its essentiality, a potent weapon in ones armory ! Not only can one earn … but the conceptual structuring of the course, not-withstanding the fly-by-night shops, is rather well conceived. it is a perfect fit with the contemporary ideology of life… which is commerce/’corporate centric !

MBA provides (hopefully !) one with an ideal preparation to enter the real world !

And the course is a good and imaginative mix of almost total personality development !?

One thing is quite certain…. MBA’s think with a wider orientation …as compared to other professionals….as a rule. Exceptions would , of course, be there…and in plenty!

Having said this, we would also like to say that the essentials of what one learns in a business school, is possible to be acquired, through other imaginative initiatives as well…well, we are stating that at least we can make an attempt…

We do believe that the CONCEPTS of MANAGEMENT are essential for everyone…yes everyone… if one has to survive with a certain degree of self-esteem in today’s world !

Management education,somehow has been seen by common people,as something beyond their grasp.This is not true.If the concepts are explained with a relevance to everyday situations , then everyone,yes everyone, can understand the complexities involved.

It would be a myth to assume that management education is for the academic elite. In fact it is only believed this way, as the present mind set of educationists is biased towards academic intellectuality. But management, as a phenomenon,touches everyone ; and it is only logical to assume that everyone needs to know how to manage. As a corrolary,everyone has/can have a propensity to understand the concepts of management.

Concepts of Management simplified:

What we aim to achieve,through this series of articles,is to bring about an understanding of the ‘so-called’ complex concepts of management within the reach of non-MBAs.

It is an attempt to take examples from every day life and juxtapose them with these celebrated ‘concepts of management’. This way the simple relevance of these concepts can be seen and understood in the context of every day living.

Here is a brief introduction to some of the famous concepts of management:

OPTIMISATION

Management, essentially is about optimum utilization of resources. Resources are the where-with-all that we have to accomplish a given task. So resources for a corporate manager would be things like Material, Finance, Humans, technology, infrastructure etc. etc. but for a housewife, these would be the monthly budgeted kitchen money, domestic help, grocery , provisions and spices/condiments etc. etc.

The central idea is to achieve the best (optimum) given a set of resources ! There is an old saying that : “If you only have a lemon… make a lemonade !

Now, what is best… given the circumstances…. this brings us to another significant concept of management…that is need assessment and Planning:

PLANNING

Managers in the corporate world assess the needs by resorting to market research, brain-storming or simply by analyzing data etc. etc.

A person in a non-corporate environment , too, has to assess the needs. For instance, if an artist…a painter of water colours…who sells his stuff to art galleries…needs to assess what his buyers prefer… do they want water colours or he would be better off doing oils/acrylics…

So everyone has to understand the need ! And then set few goals or targets . This is Planning !

A housewife, who is planning for a picnic, has to figure out the requirements of snacks, drinks, food, disposable plates, recreational options etc. etc.

A painter, similarly needs to plan what type and how many paintings he is going to make in a month/quarter/year to achieve his need of a decent survival !

But everyone has a constraint ! Corporate managers do have limitations like technology, human resources, finance etc. Similarly an artist has constraints ! He may not be in a position to make oil on canvas… or he would be a doing a part-time job…so he wont be able to make, say, three canvases in a month because of paucity of time…

So everyone has to PLAN to optimize the resource utilization…in order to achieve the goals…that, hopefully have been set sensibly !

ORGANISING

But a plan is of no avail if one does not ORGANISE !

The housewife has planned an exotic picnic outing but has not given sufficient thought to the fact that the plan has to be implemented…she should have organized the affairs in such a manner that the things that needed to be bought from the market… would have been bought by her son who is in college…as she barely has time to go out and shop…she is extremely hard pressed for time you see! As a result some of the essentials like a Frisbee and processed cheese could not accompany them in their picnic! Nor did the paper plates !

This is what is generally called as mis- management…MBAs would call it ineffective organization !

Of course, this is an over-simplification, but the simplest of things are the most difficult to put in practice!

Once we have a plan, a budget and an organization, the we have to perform the role of DIRECTING !

DIRECTING

We need others to assist us in achieving our goals… but they need to be told ! They need some direction ! Our artist, who needs certain pigments for the master-piece that he has conceived, needs to give clear instructions to his art material supplier ! And a corporate team leader needs to spell out his plan in all its nitty- gritties…only then his boys would perform according to his desired method ! So he has to effectively direct !

Well, well…there is a plan based on the need assessment…and the resources available…that would help us achieve our goal…and we have given precise instructions to everyone who is concerned with the implementation…. but even now the things can go wrong ! What we need to do is to exercise CONTROL !

CONTROLLING

We need to control the implementation at each crucial stage ! What if the housewife had organized the purchases for the picnic by making a phone call to her neighborhood home-delivery store…and even given adequate instructions…what she failed to do was to check the stuff that was delivered…and lo ! on the very morning of the picnic , she discovered that she had ordered for salted peanuts but the packets contained “Pudina (mint) flavored extruded snacks !

What she did not end up doing was CONTROLLING effectively !

Mumbai has suffered a terror trauma of unprecedented nature !

A lot of well-meaning write-ups/articles have appeared in the press….condemning the “dastardly” act !

Dear friends, while it is true that such ghastly acts should be condemned …but a thought comes  to mind …..

… each time an act of terror takes place, we CONDEMN it ! What else do we do ? Probably criticise the intelligence agencies…or the Government…or both !

It might just be time to analyse the issue with an altered perspective !

Let us find the genesis of this NEGATIVE EGO….and an all-out war should be declared against this monster !

If we focus on (somehow) changing/transforming this negative mind set…then probably the malady may be lessened !

These may sound ‘wishful words’ coming from a bunch of dreamers….but yet this bunch of dreamers feel that PEGO (positive ego) is the ultimate solution for a healthy evolution !!!

…and a passing thought on recent comments from the Vatican….condemning mobile phones and internet !

…it may be argued that mobile phones and internet are ‘dominating’ modern lives…but to label them as sole reasons for man to move away from being a spiritual being seems like throwing the baby with the bath water !

In the recent Mumbai crisis….net communities and informative sites have done a great job ! And mobile phone is a device ! You can use it or abuse it !

This is modern world….and technology is available….live-styles are changing….this fact needs to be accepted/respected !

The secret…probably….is to remain HUMAN…within the ‘given’ environment and not strive for a wishful future or a  certain over-glorified past !!!

May positive ego (PEGO) show us the way !

God bless !

PEGOMAG TEAM

Hi friends :

It has been a satisfying period…this pre-launch madness…here at PEGOMAG .

Thanks to your ever increasing  support and feedback…we are constantly motivated to do even better !

I have been receiving a lot of suggestions …about how Pegomag can be an effective medium for Global as well as niche advertisers…

…So…we have come out with an advertising brochure…for the benefit of all our friends who wish to use  the exclusive PEGOMAG space …to promote their brands/products/services.

View Pegomag Brochure

Hope you like this !

Good wishes !

bhaskarbenjamin

PEGOMAG is being ‘dressed up’ …and is soon going to be with you !

The BETA launch is slated for next month !

Full fledged launch would be in the NEW YEAR….sometimes in Jan 2009…

Pegomag team is growing….you are welcome to join the gang of mavericks…send in your queries etc to :

contact@pegomag.com

Greetings

Editorial Team

HOMER stands for ……Holistic Mentoring for Excellent Results

Homer  is a  unique training program designed by our  team ….for all those ‘young’ aspirants who wish to do well…

in life

in academics

in competitive environment

in crisis…when you are against the ‘doubting’ you

in a job situation

HOMER incorporates things like:

OUT OF BOX THINKING

CREATIVITY

SELF EXPLORATION

RIGHT BRAIN ORIENTATION

ART OF LIVING WHOLESOMELY

…. for more details you can write to us  at contact@pegomag.com

have a good day

PEGOMAG TEAM

Hey friends:

There seems to be a global slow-down….in economic terms…

…Here are a few  Pego thoughts on this :

You can only go up from a low

Recession is like a recess…a break….things shall perk up soon

Negative is only an indication of a yet-to-be achieved positive

Consolidation is the key word… now….a chance for all of us to re-organise ourselves

A classic ‘cliche’…  but very true:   THIS TOO SHALL PASS

( not belittling any particular hardship you may be undergoing….but with a wish that you emerge out of this crisis ….in a much stronger manner !)

Good luck…