ACCA BT

Management

Manager and Their Roles
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Manager and Their Roles

  • Managers:
    • Utilize organization resources at optimum level
    • Act as a role model for subordinates.
    • Act as a super visor, oversee the work or subordinates.
    • Stick to schedule and strive for maximum, quality output.
    • Assume roles such as coordinator, coach, or team leader.

Effective Manager

  • An effective manager is one whose organizational unit, group, or team consistently achieves its goals while its members remain motivated and align to the organization objectives.
  • Key results of effective management:
    • Task performance.
    • Job satisfaction.

Functions of management:

  • There are four main functions of management which includes:
      • Planning is a step to answer 4 questions. What, When, How and Where.
      • In this function of management, Managers set short term goals, and identify actions needed to achieve them.
      • For example a short term goal for trading company will to increase its sales by 20%. Proper action for such goal achievement will be to increase reach to different areas or make new effective advertisement or give commission to sale agents for making extra sales.
      • After planning the next step is organizing resources for achievement of such short term goal set by managers.
      • Like to achieve certain goals organization may need to define teams. To pay commission or make new advertisement organization may need capital
      • Creating work structures and systems, and arranging resources to accomplish goals and objectives.
      • This function of management is leading organizing resources and employee toward achievement of short term goal.
      • Here the Manager works as role model, coach, mentor, motivator, and leader.
      • Leading includes making employee loyal to objective, providing guidance, motivating them to work hard, and maintaining good interpersonal relations.
      • This function gives manager authority over others. To resolve any issue expected or unexpected.
      • In this function manager role is to avoid conflicts, monitoring performance and taking corrective action as necessary.

Managerial Roles

  • Interpersonal roles.
    • Figurehead: Act as a role model for subordinates.
    • Leader: Lead organization to achieve objective.
    • Liaison: Communicator for establishing and maintain mutual understanding and corporation. Act as a 3rd party to resolve conflicts.
  • Informational roles.
    • Monitor: Monitor the performance and provide help and guidance when needed.
    • Disseminator: To spread information.
    • Spokesperson: act as an agent of owners of organization.
  • Decisional roles.
    • Entrepreneur: One who organizes, manages and assumes the risks of a business.
    • Disturbance handler: In case of strikes, shortage of resources, the manager takes responsibility and respond to situations to resolve such crises.
    • Resource allocator: manager organizes company resources, assign them roles and allocate it to proper head, to secure optimum output.
    • Negotiator: In organization, the management is always in communication with external world. In this role manager tries to bring benefits to the organizing by making a bigger & better deal, on low price and in accordance with needs of organization.