1.0 INTRODUCTION
An examination was made concerning the relationship between Management
and Administration. We had a conclusion that there exists a difference between
the two conceptually but in practice there is
little or no difference. This is
because at one stage the administrator or the top level manager carries out
some task which is executive in scope.
In our present note we are going to take further aspects of
management. We will be discussing objectives of management. It would be
recalled that in our first note when we were discussing the nature and purpose
of management, we did say that a manager must accomplish result. That is being
effective. But in accomplishing result, the manager should be prudent in the
use of resources. This is efficiency. The output is greater than the input.
But to achieve demands that the manager must set a predetermined objectives,
bring together the necessary resources and set out together with his team
toward the attainment of the organizational objectives. We shall discuss the
various forms of business objectives which also constitute management
objectives. Also to be discussed are management
skills necessary for the attainment of organizational objectives. The skills
are emphasized because in most cases some organizations set objectives, but the
realization of such objectives is not emphasized. This is unsound management
which must be rejected and discouraged.
2.0 OBJECTIVES
By the end of this note, you should be able to:
· List organizational objectives
· Discuss features of business
· Explain management skills
3.0 MAIN CONTENT
3.1 Definition and characteristics of Business Objectives
An objective generally is an end in view. It represents the point
an organization wants to attain and it is futuristic, that is, it concerns the future.
Since an objective is an end in view, it represents future expectation of
management. That is why enterprise activities must be directed towards the
attainment of the set objectives.
3.1.1 Characteristics Objective has important characteristics which must be taken into consideration.
These characteristics stamp the mark of seriousness in business objective or
any objective in non business organization set by a serious manager. These
features or characteristics of a good objective are:
(a) It must be specific: An objective should be targeted at
specific result. This is necessary so as to avoid too much generalizations which
make it difficult for an organization to know whether it is on the right track
or not. A good business objective should be targeted and focused at a specific spot.
This will enable management to concentrate at that point for the fulfillment of
the objective.
(b) Action: A good objective commands not only the focus of management
but also management action. Management by its very nature as a process is
action oriented which is on going. But the action must be in the desired
direction which has been provided by the specificity of the business objective.
Action demands that the required resources in terms of human, material, time, information and other necessary resources
must be put in place toward the attainment of the objective. That is why, the goodness
of an objective depends on how resources are channelled towards its accomplish,
otherwise it becomes merely a formality.
(c) Realistic: An objective should not be set for setting sake or simply
another organization has its own objective. A realistic assessment needs to be
made concerning the organizations strengths and weaknesses. This is important
so that right from the early stage the organization will be able to determine
whether it has the required resources with which to accomplish the objective.
If the resources are not available in sufficient quality and quantity, then a
more realistic objective compared to the resources available should be set.
(d) Measurable: An objective should be quantified, that is some figures
should be attached. This is necessary for verification which means that at a
required time, performance must be compared with the standard. The essence is
to find out if efforts being made are in the right direction. If this is not
the case, the necessary corrective measure should be put in place to rectify
the situation.
(e) Time: The objective should be time bound. This indicates that within
specific period, the objective must be accomplished. Another element concerning
this feature of an objective is that it has to be formulated at the relevant
period. In other words, the timeliness of the objective is important otherwise,
events would overtake it. All these features and attributes of an objective go
together; they can not be separated from one another. This is why they should
all be considered in the process of objective formulation, objective
implementation and objective evaluation.
3.1.2 Types of Objectives
The types of objectives are indicated in the time in which the
objectives are to be accomplished. There are therefore short term objective, medium
term objective and long term.
(a) Short term Objective For the Nigerian environment which is
erratic and turbulent, short term objective is usually less than on year.
Compared to advanced economies, this is too short. But in those advanced economies, they are a stable and one can
plan over a long range of time. In short term objectives, the nature of such
objectives are tactical and operative. That is, they are objectives which are
often yearly for departmental functions (tactical objectives) and they command
activities which are specific, determined and for more immediate implementation
(Operating objective/activities).
(b) Middle term Objective Again, in respect of the Nigerian
environment, the middle term objective is usually lesser than five years.
(c) Long term Objective This is usually more than five years. The
middle term and long term objectives are usually formulated through corporate objectives
and mission statements. The corporate objectives in commercial organizations
are often expressed in profit figures. In respect of the mission statements,
they indicate in general terms the organization self identify, that is, the way
it sees itself and wants to be perceived.
3.1.3 Multiplicity and Hierarchy of Objectives
(a) Multiplicity of Objectives
An organization may have more than one objectives and resources
are committed toward their attainment. When this is the case we say that such
an organization has a multiplicity of objectives.
(b) Hierarchy of Objectives There may be corporate objectives
reflecting the medium and long range plans of the organizations as well as the
mission statements. There are also departmental objectives.
When there exist the corporate objectives for the entire
organization at the top, and below are arranged the departmental and sectional objectives.
We say that such organization has hierarchy of objectives.
3.2 Examples of
Objectives
There are different types of objectives depending on the
organization. Below are examples of business objectives:
3.2.1 Nature of Business
A business organization must have an objective showing its nature,
that is its mission statement. To be able to set this type of objective, the organization
must be able to identify those that constitute its customers. This is achieved
by identifying their needs and how these needs can be satisfied by the
provision of some goods and/or services. Management should not only think of
the immediate needs of the customers but also their future needs as well. The
objectives must be broad so that future opportunities are not lost through too
specific objectives.
3.2.2 Survival Objective
Every organization wishes to survive. To be able to survive
demands the provision of goods and/or services which the customers need. That
the output of the organization should be capable of meeting the needs of the customers.
If this is not the case, then the sustainability or survival of the business
over a long period is doubtful.
3.2.3 The Growth Objective
A business organization grows or dies especially in a competitive environment.
Growth is a quantity shift from one point positively to another point. Adequate
growth provides more revenue to the organization and promotion opportunities
for the employees. It increases the strength of the organization in the face of
competition.
3.2.3 Profit Objective
The very survival of an organization dictates that a certain
minimum profit has to be made. Profit is important also because it measures the
performance of management in a business organization. It makes it possible for
the shareholders to have a return on their investment. It is again through
profit that other business organization can be attained.
3.2.4 Increasing Productivity Objective
Linked to profit objective is the productivity objective.
Increasing productivity lowers note cost of the product. Through this, the organization
can be able to compete and penetrate the market.
3.2.5 Social Obligation Objectives
These objectives are many. They range from supplying of adequate product/services
at reasonable prices to the customers, ensuring that the share holders get good
dividends, giving employment to the members of the public, paying taxes to the
government among others. We shall be taking the social responsibilities of the
manager in due course in one of the subsequent notes.
3.3 Management Skills
For a manager to perform well and be seen to be performing
creditably, he needs some skills which must be brought to bear in his
functions. These skills are:
3.3.1 Technical Skills
Technical skills form the knowledge of and proficiency in
activities involving methods, procedures and processes. They involve working with
tools and techniques. As an example, the mechanics work with tools and their
supervisors should teach them the ability of how to use the tools. Also,
accountants require specific techniques based on principles on how to do
accounting work.
3.2.2 Human Skills
These are the ability to work with people. They involve
cooperating with one another as a team by creating an environment when people
feel secured and free to express their opinions.
3.3.3 Conceptual Skill
This is the ability to see the big picture of the end in view
(objective) of where you are going. It also demands that you should be able to
see those activities that are necessary to realize the big picture. The picture
must be clear, capable of excitement. Remember, the scripture says 137 people perish for lack of vision. We
should be able to see the picture of what we want. It is a skill which must be
learnt.
3.3.4 Design Skill
This is the ability to solve problems in ways that will benefit
the organization. This is done by working out practical solutions to identified
problems.
4.0 CONCLUSION
Throughout this note, we have discussed important aspects of management.
One of these is that the manager must have management objectives. We did
identify the features of a good management objective. We also describe types of
management objectives as well as examples of business objectives. We went a
step further that for the objectives to be achieved there is the need for the
manager to possess specific skills which he has to learn through training and retraining.
These skills are technical, human, conceptual and design skills.
5.0 SUMMARY
We have learnt the objectives of management and different forms of
management objectives. There are also important skills which the manager needs
to possess in other to be able to perform his functions. We have discussed
these skills. In our next note we will be discussing management functions which
separate him from his subordinates
0 comments:
Post a Comment