Five Pillars – Part 1 – CEO / Management
Every organization has a set objectives that they want to achieve. Management has to identify the mission of the organization. Management refers to those personnel or activities in the organization which coordinates between the different resources in order to achieve the laid down goals of the organization. To accomplish the goals, the management is entrusted to utilize the available resources of the company in the best possible way. They are also responsible for innovation and resource optimization, as well as designing marketing activities. Often the management is considered as a part and parcel of the factors of production. Management encompasses the entire activity right from the planning stage to staffing, organizing, and leading the way to formulating company policies and controlling the organization. They manipulate the human resources to contribute to the success of the organization. There are several management strategies used by different organizations. These strategies are based on company objectives, nature of business and the size of the company. Much management prefers a tight centralized mode of functioning, while there are management people in favor of the decentralized mode of operations. Within the management, the Chief Executive Officer (CEO) forms the most central and decision making person within the organizations and almost all functions and departments work in co-ordination with the CEO. Whatever may be the policy adapted, according to the famous contributor to modern management, Henry Fayol, management needs to perform the following six functionalities: forecasting, planning, organizing, commanding, coordinating and controlling. Thus, management is the skill whereby you get your work done.