What does Management mean?
Management is the person or group responsible for administering, supervising, leading, organizing or dealing with a company or organization's workforce. Employer management can include administrators, directors, a CEO, a superintendent, a foreman, or a boss.
Responsibilities of Management
According to Peter Drucker, an expert economist and author, good management has several job responsibilities. First, managers must set objectives for their employees which help organize the job tasks employees should accomplish. Next, the manager is responsible for organizing the work into manageable tasks and finding the right employees to accomplish the work.
Managers must also have strong communication and motivational skills to help their employees accomplish their goals. Issues such salaries, promotions, placements, and team goals must be effectively communicated with the team. Next, managers must appropriately be able to establish goals and targets for performance for the team so each member knows how their work efforts are contributing to the company's overall goals.
Finally, a manager must work to develop people and help each employee reach their highest work potential. Good management realizes that employees are their strongest assets and increasing the knowledge of the workforce is the best way for a company to be successful.
Bad Management costly to business
Unfortunately, not all employees have a good manager. In fact, a recent Gallup poll suggests that the number one reason employees left their jobs was because they had a bad boss. One expert noted, "People leave managers, not companies." Up to 75% of workers report that bad managers are the most stressful part of their job and believe that their work group would be more productive and profitable if they were better managed.
So if bad management can lead to low employee morale, stress, serious health issues, and high costs for the company in terms of high turnover and low productivity, how do you know if you have a bad boss? Employee suggests the following characteristics are common in poor managers: arrogance, pride, inflexibility, unpredictability, and moodiness. Poor bosses also fail to recognize the achievements of others, they can be unprincipled, and poor communicators.
Good businesses will have policies and procedures for eliminating bad management and creating policies which understand how to motivate and encourage employees.