Principles of Management Lecture 1 - Management Tasks

The planning, organizing, leading, and controlling of human and other resources to achieve organisational goals effectively and efficiently.

The people responsible for supervising the use of an organisation’s resources to meet its goals.

Collections of people who work together and coordinate their actions to achieve a wide variety of goals or desired future outcomes.

Achieving high performance

measure of how efficiently and effectively managers use available resources to satisfy customers and achieve organisational goals

A measure of how well or how productively resources are used to achieve a goal

A measure of the appropriateness of the goals an organization is pursuing and the degree to which the organization achieves those goals

A product that customers want, but that is too expensive for them to buy.

Manager chooses the right goals to pursue, but does a poor job using the resources to achieve these goals.