Functions Of Management

Performance of management is necessarily a subject to its functions. Earlier management was segregated into five functions which were-

o Planning

o Organizing

Functions Of Management

o Staffing

o Directing and

o Controlling.

With changing times and increasing business complexities, the functions of management also increased and functions like reporting, co-ordinating, budgeting etc. was identified. Primarily, this step was taken to ensure departmentalization of management functions so that effectiveness and efficiency could be enhanced. However, different management thinkers differ on the numbers of functions. Essentially a creative problem solving methodology, the purpose of management is achieved through these functions. The basic objective of these functions is maximum utilization of resources available at company's disposal so that organization's mission and policies could be achieved in the best possible way.

As we delve deeper in every function, planning is the first function which is basically a logical thinking process that decides what needs to be done in order to achieve organization's goals and objectives. It focuses on the broader perspective of the business as well as taking into consideration, the tactical methods to get the desired results.

Organizing is about setting up and maintaining the internal organizational structure in accordance with objectives mentioned in planning stage. It also involves assigning tasks to various individuals for the larger goal of organization's missions and objectives.

Staffing is the process of choosing right people for organization. It can be associated with human resource management and involves recruitment, hiring, training and compensating the workforce.

Directing is guiding people in the organization through the means of counselling, instructing, motivating and various other modes of communication. It helps in channelizing the activities and conduct of employees so that organizational goals can be accomplished.

Controlling is the sum total of process which ensures all the plans are executed and implemented in the desired way. It also decides about whether some corrective and preventive methods need to be taken. It is meant to ascertain problem areas and remedial measures.
Apart from these, minor functions include reporting, budgeting and co-ordinating which are designed to perform specific functions.

Functions Of Management
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MBA in India [http://www.mbainindia.in] and across the world is divided into different categories based on the functional aspect. Some motivational short sayings or inspirational speeches can inspire you to learn the progressive functions of management.

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Importance of Supply Chain Management in Modern Businesses

Supply Chain Management (SCM) as defined by Tom McGuffog is "Maximising added value and reducing total cost across the entire trading process through focusing on speed and certainty of response to the market." Due to globalization and ICT, SCM has become a tool for companies to compete effectively either at a local level or at a global scale. SCM has become a necessity especially for manufacturing industry when it comes to deliver products at a competitive cost and at a higher quality than their competitors. Here are some of the reason SCM has become important to today's manufacturing industry:-

Competitive Edge through Core Competencies

Today's business climate has rapidly changed and has become more competitive as ever in nature. Businesses now not only need to operate at a lower cost to compete, it must also develop its own core competencies to distinguish itself from competitors and stand out in the market. In creating the competitive edge, companies need to divert its resources to focus on what they do best and outsource the process and task that is not important to the overall objective of the company. SCM has allowed company to rethink their entire operation and restructure it so that they can focus on its core competencies and outsource processes that are not within the core competencies of the company. Due to the current competitive market, it is the only way for a company to survive. The strategy on applying SCM will not only impact their market positioning but also strategic decision on choosing the right partners, resources and manpower. By focusing on core competencies also will allow the company to create niches and specialization of core areas. As stated in the Blue Ocean Strategy outlined by Chan Kim, in order to create a niche for competitive advantage, companies must look at the big picture of the whole process, and figuring out which process can be reduce, eliminate, raise and create.

Importance of Supply Chain Management in Modern Businesses

As an example stated by Chan Kim, the Japanese automotive industries capitalise on its resources to build small and efficient cars. The Japanese automotive industries gain competitive edge by utilising their supply chain to maximise their core competencies and position itself in a niche market. The strategy works and now Toyota Motor Corporation, a Japanese company, is considered to be the number one auto car maker in the world beating Ford and General Motors of the United States.

Value Advantage

SCM has allowed business nowadays to not just have productivity advantage alone but also on value advantage. As Martin Christopher in his book, Logistics and Supply Chain Management: Strategies for Reducing Cost and Improving Service' states, 'Productivity advantage gives a lower cost profile and the value advantage gives the product or offering a differential 'plus' over competitive offerings.' Through maximizing added value and also reduce the cost in the same time, more innovation can be added to the product and process. Mass manufacturing offers productivity advantage but through effective supply chain management, mass customization can be achieved. With mass customization, customers are given the value advantage through flexible manufacturing and customized adaptation. Product life cycles also can be improved through effective use of SCM. Value advantage also changes the norm of traditional offerings that is 'one-size-fits-all.' Through SCM, the more accepted offerings by the industry to the consumers would be a variety of products catered to different market segments and customers preferences.

As an example, the Toyota Production System practiced in Toyota, evaluates its supply chain and determines what is value added activities and what is not value added activities. Non added value activities are considered to be 'Muda' or waste and therefore must be eliminated. Such non added value activities are overproduction, waiting, unnecessary transport, over processing, excess inventory, unnecessary movement, defects and unused employee creativity. The steps taken to eliminate waste are through Kaizen, Kanban, Just-in-time and also push-pull production to meet actual customer's demands. The Toyota Production System revolutionise the Supply Chain Management towards becoming a leaner supply chain system that is more agile and flexible towards meeting the end users demands.

Importance of Supply Chain Management in Modern Businesses
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Razamith Sovereign is undergoing his Masters in Engineering Business Management in University of Warwick, United Kingdom. A General Manager in a technology company, he provide useful advice through his articles that have been found very useful in managing his daily operation of the company. To find more information on Supply Chain Management please visit http://supplylogistic.blogspot.com

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What is Management?

Management is different from leadership but just as important. To understand the nature of management, we need to be clear how it differs from leadership. The first step in answering the question: "What is management?" is to understand the basic tasks of all organizations. Like any other species, an organization needs to take care of its immediate business of survival but it also has to evolve to ensure its fitness to cope with changes in the environment and the actions of competing species.

Management is the function that organizes the execution of today's business. Leadership is the evolutionary mechanism that changes organizations to prosper in tomorrow's world. Whenever a species or individual animal runs into obstacles, variations occur and new forms are selected from those variations. Leadership is a risk taking type of action that explores new frontiers and promotes new ways of behaving. It follows that, in a stable environment, good management is all that is needed to prosper; leadership in this context isn't required.

This portrayal is not the popular one where leadership means being the top dog in a group regardless of what's going on in the environment. Also, management has been cast on the rubbish heap since the late 1970's following the initial wave of Japanese commercial success in the West. We wanted a scapegoat for our failure to compete with the Japanese, and management was fingered for this role. Jack Welsh, Tom Peters and other gurus called for more leadership and an end to management, which they saw as stifling innovation. The reality was that a lack of competition created a complacent attitude AND lackluster management. It was the way management was practiced that was the problem, not anything to do with management as a function. We simply needed to upgrade management for a new reality.

What is Management?

Being hierarchical by nature and inclined to worship heroes, we tend to regard the person in charge of our group as a leader. But complexity demands specialization and executives need to perform multiple roles that depend on the unique demands of their situation. If their main function is to maintain quality, low cost and good customer service while motivating employees to perform to their potential, then they are performing the management function, not showing leadership.

Management is like investment. Managers have resources to invest - their own time and talent as well as human and financial resources. The goal or function of management is to get the best return on those resources by getting things done efficiently. This doesn't entail being mechanical. The manager's style is a contextual issue. With highly skilled and self-motivated knowledge workers, the manager can be very empowering. Where the workforce is less skilled or motivated, the manager may need to monitor output more closely. By saying that management is a function, not a type of person or role, we better account for self-managed work teams where no one is in charge. Managemenet simply makes the best use of all resources even when we manage ourselves. Hence management does not necessarily entail a dictatorial, controlling overseer. Skilled managers know how to coach and motivate diverse employees. Getting things done through people is what they do.

The aim of management is to deliver results cost effectively in line with customer expectations and profitably, in the case of commercial organizations. It is not only leaders who can be inspiring. Inspiring leaders move us to change direction while inspiring managers motivate us to work harder.

Management is a vital function thanks to the complexity of modern organizational life. The need to coordinate the input of so many diverse stakeholders, experts and customers requires enormous patience and highly developed facilitative skills. Excellent managers know how to bring the right people together and, by asking the right questions, draw the best solutions out of them. To facilitate well requires managers to work very closely with all relevant stakeholders.

By contrast, the leader can be a bit of an outsider. Like Martin Luther King, Jr. promoting desegregation on buses to the U.S. government from the sidelines, the leader can induce people to change even with no direct involvement or authority over the people who are needed to take the hoped for action.

Managers don't just keep ongoing operations ticking over. They also manage complex projects like making a modern movie or putting the first man on the moon. Leadership is only required to sell the tickets for the journey or to resell it periodically if resistance develops, but management drives the bus to the destination.

What is Management?
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See http://www.lead2xl.com for more articles like this one. Mitch McCrimmon has over 30 years experience in executive assessment and coaching. His latest book, Burn! 7 Leadership Myths in Ashes, 2006, challenges conventional thinking on leadership.

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Property Management Fees Explained

When you hire a property management company to serve as the liaison between yourself and your tenants, you want to be sure you're getting the best possible property management services for the money. The services a property management company provides can range from ala carte to an all-in-one inclusive package. Along with that comes an array of fees for each. There is no set in stone fee structure we can provide you. But we can educate you on what common fees to expect and what each is commonly for. In the end it will be up to you to compare company fee structures and choose the best one that fits within your budget. Below are some of the most common fees and what service they provide.

Commission

This is an ongoing monthly fee charged to the owner to compensate the property manager for the responsibilities of overseeing the management of their property. This fee can vary from as little as 3% to over 15% of the monthly gross rent. In place of a percentage some managers may charge a flat monthly amount which again can vary from to over 0 per month. All property management companies generally charge this fee.

Property Management Fees Explained

Lease-Up or Setup Fee

This fee is charged to the owner to compensate the property manager for their initial time invested and resources used in setting up an owners account; showing property and/or other activities resulting in tenant placement. I guess you could look at it as a "finders fee" for placing a tenant in your property. Once a tenant has been placed and first rent income comes in, the property manager will deduct this fee from the rent proceeds. Some property managers have been known to require this fee upfront prior to tenant procurement. Usually this fee is non-refundable once the property manager has started the process of tenant procurement or any legwork has been initiated with the property. This fee can vary from none to as much as the first months rent, and usually is a one-time fee per tenant.

Lease Renewal Fee

This fee is charged to the owner when a property manager renews a current tenants lease and covers the costs of initiating paperwork or communication involved in implementing the new lease document. A property manager may also justify this fee if they perform a year end inspection of property. This fee can vary from none to 0 or higher, and may be charged every time a lease renewal is implemented.

Advertising Costs

Depending upon the property management company's contract, either they will pay the advertising costs or the owner or they could split the costs. If the manager is willing to cover this cost, most likely they will charge the lease-up or setup fee as outline above. If the management company covers this cost make sure to find out what type advertising or marketing of your property is included. If it's placing your listing on their own web site and other free online classified sites you may not be getting your monies worth. They are many good rental or tenant resource online web sites that bring in qualified tenants for a reasonable fee and you will want to consider these. And don't forget about print media, yard signs, listing on the MLS or even an open house. Nothing is worst than having your property vacant, bringing in no money only because you or your property manager skimped on advertising.

Maintenance Mark-up Charges

This is one of those costs you may never really of known about or had it disclosed to you. A "Mark-up" is a charge over and beyond the final bill on maintenance and/or repair work done to your property initiated by your property management company when using their vendors or in-house maintenance staff. This should be disclosed in your Manager/Owner contract which usually will state the markup as a percentage above the final invoice from vendor. For example, your manager had to call a plumber to replace the dishwasher in your rental property. Total charges for completing the job: 0. If your property manager contract states you will incur a 10% markup on all maintenance work the actual cost to you will be 0. Just one of those things to be aware of as these all eat into your profits.

Early Cancellation Fee

The dreaded "3 months and no tenant". Your property manager insist he or she's doing everything they can to find you a tenant. But here it is 3 months and still no tenant; what do you do. Well, look at your Manager/Owner contract and that might be your deciding factor. I am not a fan of this fee, and believe it to be an unnecessary fee and for you manager out there this could be the deal breaker. I'll tell you why; if a property manager is doing their due diligence and keeping the owners in the loop as far as decision making, market conditions and communication lines open an owner will not be second guessing his property managers abilities. The odds of this scenario happening is unlikely but you must be prepared for it. A cancellation fee can range from none to over 0. To be fair, some managers legitimately deserve this fee especially if they have pocketed advertising costs, incurred lots of legwork and time invested in your property.

"You've Got To Be Kidding Me" Fees - These are ones I have personally had the pleasure of running into.
Your property is vacant, but we still will charge our monthly commission or a small flat fee. "A For-Rent Yard Sign Fee". I believe this was /mo. "Preventive Maintenance Fee". This was to cover the "just in case" and changing out A/C filters. If "just in case" never happens they still pocket the money. I believe this was /mo and I still was charged for filters.

In Summary

Read your Manager/Owner contract, understand what you are signing, ask lots of questions and know what the fees will buy you in services. A good real estate lawyer can help in negotiating the terms in a contract that suit both parties. These contracts are not set in stone. If your property manager will not negotiate, there are other property management companies that are eager to earn your business.

Property Management Fees Explained
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Karen McDaniel
Principal
Property Management Profile LLC dba pmvnetwork.com

PMVnetwork offers the most up-to-date listing of full-service property management companies and property service pros nationwide. We have become a wealth of information and resource for the first-time landlord as well as the seasoned investors.
For any property management company or home repair professionals that is looking to gain national exposure by capturing the attention of out-of-state investors or be found by local clientele, http://www.PMVnetwork.com/property-management-leads is the place to showcase their business model and expertise to these prospective clients. We offer an opportunity for all property management companies and home repair service professionals to list their company on our website, whether you specialize in residential, commercial, vacation or community association management. We accept small to corporate size management companies. We are the most affordable lead generation service out there today.

Visit us today at http://www.pmvnetwork.com

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Total Quality Management

Introduction

Competition is getting harder and becoming global. Companies now have to be more responsive, offer a better product and keep improving. Total quality management (TQM) increases customer satisfaction by boosting quality. It does this by motivating the workforce and improving the way the company operates. In an increasingly competitive market, firms with a continuous improvement culture and external focus are more likely to survive and prosper. TQM is considered an important catalyst in this context.

What is TQM?

Total Quality Management

TQM is an approach to improving the effectiveness and flexibilities of business as a whole. It is essentially a way of organising and involving the whole organisation, every department, every activity and every single person at every level. TQM ensures that the management adopts a strategic overview of the quality and focuses on prevention rather than inspection.

Objectives of TQM

o Meeting the customer's requirements is the primary objective and the key to organisational survival and growth.

o The second objective of TQM is continuous improvement of quality. The management should stimulate the employees in becoming increasingly competent and creative.

o Third, TQM aims at developing the relationship of openness and trust among the employees at all levels in the organisation.

Significance of TQM

The importance of TQM lies in the fact that it encourages innovation, makes the organisation adaptable to change, motivates people for better quality, and integrates the business arising out of a common purpose and all these provide the organisation with a valuable and distinctive competitive edge.

Elements of TQM

The various elements of TQM are

o Be customer focused

It requires the company to check customers' attitudes regularly and includes the idea of internal customers as well as external ones.

o Do it right the first time

This means avoiding rework, i.e., cutting the amount of defective work.

o Constantly improve

Continuous improvement allows the company gradually to get better.

o Quality is an attitude

Every one has to be committed to quality. That means changing the attitude of the entire workforce, and altering the way the company operates.

o Telling staff what is going on

This involves improved communication. Typically, it includes team briefing.

o Educate and train people

An unskilled workforce makes mistakes. Giving more skills to workers means they can do a wider range of jobs, and do them better. It also means educating staff in the principles of TQM, which is a whole new style of working.

o Measure the work.

Measurement allows the company to make decisions based on facts, not opinion. It helps to maintain standards and keep processes within the agreed tolerances.

o Top management must be involved

If senior management is not involved, the programme will fail.

o Make it a good place to work

Many companies are full of fear. Staffs are afraid of the sack, their boss and making mistakes. There is no point in running a TQM programme unless the company drives out fear.

o Introduce team work

Team work boosts employees' morale. It reduces conflict and solves problem by hitting them with a wider range of skills. It pushes authority and responsibility downwards and provides better, more balanced solutions.

o Organise by process, not by function

This element of TQM seeks to reduce the barriers that exist between different departments, and concentrates on getting the product to the customer.

Reasons for failure

TQM fails because:

o Top management sees no reason for change.

o Top management is not concerned for its staff.

o Top management is not committed to the TQM programme.

o The company loses interest in the programme after six months.

o The workforce and the management do not agree on what needs to happen.

o Urgent problems intervene.

o TQM is imposed on the workforce, which does not inwardly accept it.

o No performance measure or targets are set, so progress cannot be measured.

o Processes are not analysed, systems are weak and procedures are not written down.

Conclusion

In today's globally competitive market, the situation is to buy whichever is of good quality and low cost. The organisations have started with a rigour to have an edge over the global competition and in the process some have become successful. The quality movement, which drives every organisation towards the global market, seems to increase its competitive advantage for better market acceptance.

Total Quality Management
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What are the Goals of Anger Management?

Anger management has two main goals: 1) helping you reduce your anger emotions and 2) controlling the triggers of your anger and violence. It's important to know that you won't get cured, but you will be educated on how to control yourself. Many people take anger management as a solution. However, this can be misleading since you cannot become a different person if you don't choose to change. Some people will go to anger management classes because they have been ordered by the court to do so. Unfortunately, some will act like they saw the light when they are in fact simply playing a game.

These people who tend to twist things so that you always seem wrong and play mind games have a personality known as passive aggressive. Do you know a person who has that kind of personality? They can be calm, but at the same time enraged.

They can speak softly, but use a threatening tone that scares others. Of all the personalities, passive aggressive is the worst kind because with a passive aggressive person you never know what they will do next. Anything can set them off, so you will never know what to do or not to do and what to say or not to say. They may be violent both by words and by force. Passive aggressive people tend to convince others that everything is their fault and they often try to fool others.

What are the Goals of Anger Management?

If anger management will not cure a person, it will certainly show them the light. However, no one can force them to follow the rules. You have a choice: learn to control yourself and listen or block everything out. The first question you need to answer is how do you know if you need anger management? You won't be surprised to learn that passive aggressive people are the worst when it comes to voluntarily get anger management help. Passive aggressive people tend to try to control everything while aggressive people look at the physical need to enforce someone.

In management classes, the passive aggressive person doesn't have any control. This makes this person even worse and eventually blow up due to the lack of control. Usually, this is the kind of situation when their actions go from scary to frightening. However, if they are genuinely and really trying to manage their aggression, then anger management can work. Be careful however because these types of people can fool the best. In some extent, they are almost like pathological liars.

Can anger management be the solution for a passive aggressive person? Maybe. It depends on the attitudes of the person toward the classes. If they really want to change, these people will give all they've got to the class and make a conscious effort to improve. However, if they are being forced into the classes, like following a court order, it probably won't work because they don't want it to. One of the most difficult thing for a passive aggressive people is to give up control. There's no doubt that anger management is what they need. A class that specializes in passive aggressive behavior would be even more beneficial.

In an anger management class, it's easy to spot the passive aggressive people because they are bragging. In fact, if you brag in your speech about your behavior instead of feeling guilty there's a good chance you're a passive aggressive person. It won't take long for doctors in the management classes to pick out the passive aggressive behavior and they will pay very close attention to them because they know that they are unpredictable.

What are the Goals of Anger Management?
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Discover A Radically New Way To Beat Anger, WITHOUT Drugs and Without Therapy. Visit our brand new website on Anger Management [http://anger-management.nathlaf.com] and sign up to receive free articles that will help you manage your anger.

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Developing Your Property Management Business Plan - How to Start a Property Management Company

The recent real estate "crisis" has caused a number of beneficial effects on the property management industry. There has never been a better time to consider starting a property management business than right now.

1. Houses are not selling, therefore homeowners that need to move and/or investors are forced to rent their units out; thus increasing the rental property supply chain.
2. Houses are foreclosing by homeowners and being bought by investors that in turn rent the property out. This increases the amount of supply as well.
3. The homeowners that were foreclosed upon will now be renters. Thus increasing the rental pool and increasing demand.

The above items create a perfect storm for the Property Management Business Industry. The purpose of my article is to present and discuss the 6 categories that are paramount in developing your property management business plan:

Developing Your Property Management Business Plan - How to Start a Property Management Company

1. Executive Summary
2. General Company Description
3. Description of Services
4. Marketing Plan
5. Operational Plan
6. Budget

1. Executive Summary - Include everything that you would cover in a five-minute interview. Who are the owners, what is their experience in this industry? Explain the fundamentals of your business. What do you think the future holds for your business and your industry? Make it enthusiastic, professional, complete, and concise.

2. General Company Description - This includes your mission, vision and company commitments, Who is your target market (higher/lower end residential, multi-family, commercial), what price range of properties will you target, what area(s) will you target, who are the prospective tenants and what's the future of your industry? Form of ownership, what factors will make the company succeed? What strengths do you personally bring to the business? Long term: What are your plans for the future of your business? Growth? If so, at what rate and how will you achieve it?

3. Description of Services - Describe in depth your property management service structure. What will you perform on a monthly basis for your property owners? What will be your monthly fee structure? What additional services will you offer such as evictions, project management, maintenance and what will your fee structure and profit center look like?

Much of your service offering will be developed by performing a complete competitive analysis. Your offering needs to be correctly place in the marketplace to make yourself unique. You should know your competitions monthly fee structure, how many properties they manage, number of managers, etc.

4. Marketing Plan - Bottom line: Your plan for how to attract clients. How will you get your company and offer in front of your prospective property owners. How will you utilize the following: (website, SEO (search engine optimization) plan, online marketing, signs, advertisements, associations, relationships, networking, direct mail campaigns, signs, yellow pages, calling for rent by owners, etc.)

By the way, there are methods that are much more effective than others for a start up real estate management company. Be sure to do your proper research before you unnecessarily spend money.

5. Operational Plan - Explain the daily operation of your business; (its location, equipment, people, processes, and surrounding environment.) If you are starting out opening your own prop mgt business, you will want to spend the majority of your free time in marketing techniques.

6. Budget and Financials - Includes your start up expenses, capital expenses and expected monthly recurring expenses. If you are starting out a your business with 0 properties as I did, you will want to start with a minimal budget in mind. Keep your costs as low as possible. What is your expected income based on your predicted growth rate?

Conclusion: Properly developing your property management business plan is the key to your success. Starting a property management business can be very rewarding, however not having the right direction and foresight from the beginning can blind you and your business. Remember; "Failing to properly plan is properly planning to fail."

Developing Your Property Management Business Plan - How to Start a Property Management Company
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Patrick Rogers is the owner of Rents2Riches, a Property Management Business Coaching Company that is dedicated to the phenomenal development and growth of the Property Management Industry. Patrick also develops marketing products that help existing and startup Property Managers get more clients and learn the tips and tricks in operating a Property Management Business.

Patrick offers his own personal property management business plan free for download at PropertyManagementBusinessPlan.com.

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Role of a Manager

Managers are building blocks of the organization. A manager performs five basic functions - Planning, organizing, staffing, directing and controlling. At all the levels of management we have managers working there and performing one or more of these managerial functions. A manager's main role is to achieve effective utilization of resources in an organization. He achieves so through coordinated human efforts. A manager has a very important role to play in achieving organizational objectives. He is responsible for aligning the individual's objectives with the organizational objectives. This is very essential for achieving long-term organizational success.

A Manager is the one who communicates organizational vision to the employees of the organization. He should ensure that there is effective communication flow in an organization and that there should no misinterpretations taking place.

A manager has crucial role to play in decision making process in an organization. He has to decide how to bring and communicate organizational changes. He plays a major role in setting organizational goals. He has to be in close contact with the employees of the organization. He should understand them and motivate them. He should encourage them so that they can perform effectively. He should praise them when they show brilliant performance and on bad performance, he should give them constructive feedback rather than negative feedback. He should provide them online support and coaching.

Role of a Manager

A manager should resolve conflicts among the employees and try to reach at an acceptable solution. This would improve employees work quality as well as performance. Thus, a manager's role is very important so as to improve employees productivity as well as organization's productivity. He should understand that organizational success depends on employees. Thus the more satisfied and happy the employees are the more success the organization will show. A manager must be committed to his work so as to set an example for his subordinates.

Role of a Manager
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Managers at different levels have different roles to perform. In any organization we have mainly 3 levels of management and at all these levels we have different managers working with their respective powers and authority. Author is the writer of Levels of Management which explains in detail about the roles performed by managers at different levels.

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