The person responsible for achieving the goals of an organization is Manager.The definition of management can also be derived from this very definition and we may attempt to define it as,
Activities for managing the resources to achieve the goals of a business organization is Management; IOW, what a Manager does to fulfill his/her task is Management.
There are different theories on activities of a manager. One of the popular theories is POSLC - Planning, Organizing, Staffing, Leading, Controlling. Another popular theory is POC3/POCCC - Planning, Organizing, Communicating, Coordinating, Controlling.
Now there is 2 other concepts very closely tagged with management, efficiency and effectiveness. The simplest elaborative definition of efficiency I could come up with is,
The amount of non-waste from a process is efficiency. Waste could be from time of a resource to raw material wastage due to machinery. IOW, achieved output divided by expected output from a certain input (which is referred to as only 'input' in texts).
While the simplest elaborative definition of effectiveness I could come up with is,
The ratio of input required to achieve organizational goals. IOW, efficiency aligned with organizational goals.
Though the concepts are quite different the correlation is quite evident -
We need effectiveness to make a organization successful and which can be achieved by efficiency
Which means from a organizational perspective that efficiency is desired for effectiveness, IOW, efficiency is the "supply" to the effectiveness "demand"; we should find a balance between efficiency required and achieved with perspective to effectiveness.
Thats it for today and from the last lecture....
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