BAHIR DAR UNIVERSITY

BAHIR DAR INSTITUTE OF TECHNOLOGY

Individual assignment I

Industrial Management and Engineering Economics

By
NAME ID
Natnael Assefa 0904906

Submitted to Eden A.

Aug, 2021
Bahir Dar, Ethiopia
Introduction
As I read from a lot of sources the word management and its root word "manage" comes from
the Italian word maneggiare to handle, which is derived from the two Latin words manus
(hand) and agere (to act). So, to conclude it means to handle, act and take care of things in an
organization or a company in hand.
Controlling an organization so as to achieve desired goals resulted in the evolution of the
concept of management. Management includes all those people who are concerned with
managing an organization. It is a sum of organized activities by a group of people.
Management involves decision making at various levels of organization for getting things
done by others. It is both science as well as an art, because the fundamentals of management
are same everywhere but the practices differ.

Definition of Management
Although management as a discipline is more than 80 years old, there is no common
agreement.
Some say management is an activity.
Some say management is a function.
Some say management is a process.
Some say management is an art.
Some say management is a science.
Management is the way of handling things or people via people for people that involve
planning, leading, acting and monitoring any activity. It’s the fundamental skill that is needed
in order to lead an organization or a company to a success. Let’s take an office for example if
the management is great or if it is led by good managers, it will be effective and efficient. But
if not, the office will be so lame that it couldn’t even do its job so management is so
important for an organization or a company to perfectly function in an excellent way.
So, I think management is the sole of an organization or the heart of a company. Management
certainly is one such over-familiar concept. We practice, discuss and teach it on a daily basis,
but mostly do so without questioning the concept. For one thing, it is not necessary, for an
intuitive, implicit approach often works rather well. Secondly, when the need arises, we
might remember some old lesson from our student days about how management is something
like “planning, organizing, leading and controlling in order to achieve results with people”.
However, when subjected to critical thinking, this answer appears unsatisfying. Not only is it
very vague, providing little information on how management is actually practiced, it also has
some obvious flaws, like its redundancy with people management (i.e., human resource
management). But, management is too complex a concept for one definition to capture
accurately.

Concepts of Management
Management is an executive art that actively direct the human effort to a common goal.
It’s not about setting goals or framing policies rather implementing policies set or led by the
administrators. It’s the follower of administration.
Planning, organising, stuffing, motivating, directing coordination and control these all are
functions of management.

Importance of Management
 No enterprise or organization can survive without management.
 It maximizes the utilization of the organization’s resources (can be people or money
or tools)
 Provides new idea and vision to the organization to do better.
 Provides stability to the organization by changing and modifying resources in
accordance with the changing environment of the society.
 Helps personal development thereby raising efficiency and productivity.

Levels of Management
Top-level management
Accountable to the stakeholders and the public. Their responsibility is planning and
coordinating. They are Directors C.E.O.s etc.
Middle-level management
Accountable to top-level managers. And responsibilities are Directional and managerial
functions and implementation of policies and plans. They are branch managers department
managers etc.
Low (executive) level management
Accountable to quality and number of products. Their responsibility is deploying jobs and
responsibilities to variety of workers. They are supervisors Forman etc.

Management skills
1. Technical skills
Is necessary for a manager in handling methods processes properly. Essential for a
manager to know which technical skills should be employed in particular work.
Necessary for low-level managers.
2. Conceptual skills
Conceptual skills are required to recognise inter-relationship among functions of the
business and to guide effectively the organizational efforts. Essential for higher-level
management. Includes decision making skills and organizational skills.
3. Human relation skills
Is the ability to work with other people and reach common goals. It is also the ability
transfer information to others effectively. Also involves motivational skills which mean
the ability to make people do what the manager wants them to. In doing so the manager
could use positive method like reward praise etc. or negative method like punishment.