Management is coordinating the process of designing and maintaining an environment in which resources within an organization accomplish certain goals within the organization (Reddy, 2004). One of the principal goals of organizations is making profits. Efficient management guarantees that an organization will make massive profits. Effective management encompasses several aspects. Organizations operate in an environment that has distorted information. This necessitates the organization to devise methods of filtering relevant and accurate information from irrelevant and inaccurate information. The organization should also communicate critical information to various stakeholders (Doyle, 2009). This necessitates organizations to have efficient information management systems.
The human capital is the most valuable asset of any organization. Human capital provides both the workforce and market for the organization. All successful organizations manage their human capital efficiently. Employees are one of the most essential components of the human capital. Organizations should have efficient personnel management strategies. Organizations should ensure that they handle employees’ issues effectively (Perry, 2006). Thus, organizations should ensure that staffs have appropriate support mechanisms, and they have the right skills.
How an organization undertakes various activities determines whether it would be successful or not. This necessitates organizations to have lean operations. Using lean operations ensures that organizations transfer the maximum quantity of tasks and responsibilities to stakeholders who actually add value to the operations. In addition, lean operations help to detect inefficiencies and defects enabling speedy response to the problem (Bamford & Forrester, 2010). Lean operations make businesses in virtually all industries have a competitive advantage over their rivals who do not use lean operations.
The major aim of organizations is to increase revenue and reduce their costs of production. This may necessitate organizations to either outsource their goods or services or relocate to the areas that have low costs of production (Bellgran & Säfsten, 2009). However, companies should consider various factors before outsourcing or relocating. These include the political climate of the new regions, availability of skilled labor, future growth prospects of the company and sustainability issues.
This course has highlighted the importance of management in organizations. It is not what businesses do that guarantees their success, but how they do what they do. A lean operation is one of the most efficient philosophies of management. This ensures that an organization undertakes various operations at the right time. This would tremendously help me in developing my individual management style. I would ensure that I undertake tasks at the right time, and my employees also undertake various tasks at the right time and in the right manner.