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MODULE : W1001

PRINCIPLES OF MANAGEMENT

STUDENT ID _______________________________

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TABLE OF CONTENTS

1. Overview of a company .............................................3

2. Functions of management .........................................5

3. Good management skills..........................................15

4. Reference ..................................................................16

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Company’s Overview:-

About the company:

Company’s Background: Nissan Motors was found in 26 December 1933 by

Yoshisuke Aikawa. It has its headquarters in Nishi-ku, Yokohama, but officially

registered in Kaagawaku, Yokohama. its the 4th largest company of motors. Nissan

motors are served worldwide. It has produced its own motors known as the auto mobiles,

Outboard motors and Forklift trucks. In 1928, Yoshisuke Aikawa founded the holding

company Nihon Sangyo (Japan Industries or Nihon Industries). The name 'Nissan'

originated during the 1930s as an abbreviation used on the Tokyo stock market for Nihon

Sangyo. This company was the famous Nissan "Zaibatsu" which included Tobata Casting

and Hitachi. At this time Nissan controlled foundries and auto parts businesses.

Nissan eventually grew to include 74 firms, and became the fourth-largest combine in

Japan during World War II as it built trucks, airplanes, and engines for the Japanese

military.

Nissan’s summary & achievements: Nissan is known for building edgy-

looking vehicles that offer a respectable amount of performance. The company began life

in 1933 as the Jidosha Seizo Co. Ltd. After merging with another Japanese manufacturer

a year later, the name was changed to the Nissan Motor Co., which initially marketed its

products under the Datsun brand. In 1958 Nissan began exporting Datsun-badged

passenger cars to the U.S., and two years later Nissan Motor Corp. U.S.A. was

established. In 1981 the brand name on overseas models was changed from Datsun to

Nissan.

Today, many of the Nissan vehicles sold in this country are built by the Nissan Motor

Manufacturing Corp. (NMMC) in Smyrna, Tenn. Nissan is a full-line automaker with a

devoted following thanks to a renewed focus on product quality and engineering that

began with the new millennium.

,,

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Aim of Nissan Motors: Nissan aims to achieve sustainable, profitable growth.

At the same time, they desire to make enduring contributions to social development as a

valued and trusted member of society.

Vision of Nissan Motors: Under Nissan's corporate vision of "enriching

people's lives", they always think what they can do to realize people's enriching life, and

make social contributions continuously in the three main areas of "supporting education",

"taking care of environment", and "providing humanitarian relief when necessary".

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Introduction to Management:-

Management is the process of reaching organizational goals by working with and through

people and other organizational resources. Management in other words is for the

directors and managers who have the power and responsibility to make decisions and

oversee an enterprise. Management is often included as a factor of production along with

machines, materials, and money. The organization and coordination of the activities of

a business in order to achieve defined objectives.

The size of management can range from one person in a small organization to hundreds

or thousands of managers in multinational companies. In large organizations, the board of

directors defines the policy which is then carried out by the chief executive officer, or

CEO. Some people agree that in order to evaluate a company's current and future worth,

the most important factors are the quality and experience of the managers.

Functions of management:- There are four functions of management:

Planning

Organizing

Leading/ Directing

Controlling

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Planning:

Planning is the core area of all the functions of management. A manager is responsible

for creating a ‘game plan’ to reach a specific goal. It is the foundation upon which the

other three areas should be built. Planning activity focuses on attaining goals. Managers

outline exactly what organizations should do to be successful. Planning is concerned with

the success of the organization in the short term as well as in the long term. And it

requires management to evaluate where the company is currently, and where it would like

to be in the future. From there an appropriate course of action to attain the company's

goals and objectives is determined and implemented.

The planning process is ongoing. There are uncontrollable, external factors that

constantly affect a company both positively and negatively. Depending on the

circumstances, these external factors may cause a company to adjust its course of action

in accomplishing certain goals. This is referred to as strategic planning. During strategic

planning, management analyzes internal and external factors that do and may affect the

company, as well as the objectives and goals. From there they determine the company's

strengths, weaknesses, opportunities and threats. In order for management to do this

effectively, it has to be realistic and comprehensive.

Importance of planning: Managers plan in order to reach their goals on

schedule. Effective plans allow for efficient work and more evenly distributed

effort. In addition they plan to provide one direction, to reduce any kind of

anticipate change i.e. to reduce any uncertainty. It also sets the standard of

controlling the performances and reduces the overlapping and minimizes the

wasteful activities which might be good for nothing.

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Factors that affect planning:

1 Competition

2 Economy

3 Managers

4 Information

Companies that do not jump quickly into a promising product or service market

may be outmaneuvered by their competitors. Planning may take a backseat to

entering the profitable, emerging market for a new product or service when a

company wants to beat its competitors.

If the economy improves significantly, managers may scrap former plans and

begin new ones initially this way, overall economy or health of the company's

industry also may negatively affect a manager's ability to plan.

If managers are not good planners in general or do not have the experience,

education or background in planning required to be successful, they are more

likely to plan poorly. They may not full fill the required actual planning which has

to be done and might waste time as it will be complicated for them to visualize

and organize a project thus they might sacrifice their visions of the long term for

solving short-term problems.

When planning occurs, it is important to have accurate information from

consumers, the market, the economy, competitors and other sources. Managers

who do not have accurate and timely information are more likely to plan poorly

and inadequately.

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Organizing:

Whether it is the employees or resources, the manager is responsible for

organizing the daily functions of it all. Getting organized is the second function of

management. Management must organize all its resources in order to implement

the course of action it determined in the planning process. Through the process of

getting organized, management will determine the internal organizational

structure; establish and maintain relationships, as well as allocate necessary

resources. Organizing can be thought of as assigning the tasks developed in the

planning stages, to various individuals or groups within the organization.

Organizing is to create a mechanism to put plans into action. Accordingly, people

within the organization are given work assignments that contribute to the

company’s goals. Tasks are organized so that the output of each individual

contributes to the success of departments, which, in turn, contributes to the

success of divisions, which ultimately contributes to the success of the

organization. In determining the internal structure, management must look at the

different divisions or departments, the coordination of staff, and what is the best

way to handle the necessary tasks and disbursement of information within the

company. Management will then divide up the work that needs to be done,

determine appropriate departments, and delegate authority and responsibilities.

Purpose of Organizing: The purpose of organizing is to divide work

amongst different departments in a company i.e. by assigning tasks and

establishing relationships between groups and individuals in a department. In

other words, this is the process employees actually see and are affected by. If a

manager is disorganized there is a ripple effect. Employees will lose respect

for management; making the next function of management harder to achieve.

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Organizational Design: It is a process which involves 4 different

elements.

1. Work Specialization: Work specialization is the process of focusing

one's occupational concentration on a specific area of expertise. An increase

in job specialization among employees can make them less flexible since it

tends to reduce their ability to perform other types of work within

the business that fall outside their particular specialty.

Advantage of Work Specialization:

Disadvantage of Work Specialization:

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2. Departmentalization: It refers to the basis in which

related individual tasks and their allocation to work groups is combined.

There are five common forms for departmentalization.

Functional departmentalization: Jobs are grouped by the functions (i.e.,

marketing, finance, human resources) performed. This approach can be used in

all types of organizations, although the functions change to reflect the

organization’s objectives and work activities.

Product departmentalization: Jobs are grouped by product line. In this

case, each major product area is placed under the authority of a manager who’s

a specialist in, and is responsible for, everything having to do with that product

line.

Geographical departmentalization: Jobs are grouped on the basis of a

territory or geography such as southern, mid western, or northwestern regions

for an organization operating only in the United States; or for a global

company, maybe European, Canadian, and Asian-Pacific regions.

Process departmentalization: This method groups jobs on the basis of

product or customer flow. Here the work activities follow a natural processing

flow of product or even customers.

Customer departmentalization: Jobs are grouped on the basis of common

customers who have common needs or problems that can best be met by having

specialists for each.

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3- Chain of Command: All employees in the organization know the structure

of the company when following a chain of command. It clarifies who reports to

whom.

Responsibility and Authority: Each employee on the chain of

command is responsible for a particular area of the business. For instance,

operations supervisors or managers must ensure that workers complete

production tasks and activities, while upper-management employees

establish the high-level direction the company takes. For example, an

operations director may develop a plan to reduce lead time in production by

two days, but supervisors directing the activities of production workers

execute the high- level plan.

4- Span of Control: A span of control means a number of people who are

accountable to one manager in a chain of command.

Wide Span of Control: is the number of people who basically report

to one manager and it means the more people under the control of one

manager.

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Advantage & Disadvantage of Wide Span of Control:

Narrow Span of Control: Here a manager is responsible for a

few subordinates only.

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Advantage & Disadvantage of Narrow Span of

Control:

Leading:

It is defined as guiding the activities of organization members in the direction that helps the

organization move towards the fulfillment of the goals. However, Company objectives

cannot be achieved if the manager doesn’t lead to any direction; In contrary, if you haven’t

planned or organized you will not succeed with this function.. Through directing,

management is able to influence and oversee the behavior of the staff in achieving the

company's goals, as well as assisting them in accomplishing their own personal or career

goals. Moreover this influence can be gained through motivation, communication,

department dynamics, and department leadership. Employees that are highly motivated

generally go above and beyond in their job performance, thereby playing a vital role in the

company achieving its goals. For this reason, managers tend to put a lot of focus on

motivating their employees. They come up with reward and incentive programs based on job

performance and geared toward the employees' needs. Effective communication is vital in

maintaining a productive working environment, building positive interpersonal relationships,

and problem solving. Understanding the communication process and working on areas that

need improvement help managers to become more effective communicators. The best way to

find areas that need improvement is to periodically ask them and others how well they are

doing as the manager will find themselves to be an effective leader if their workers

understand what is required of them and why.

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Controlling:

Controlling is about monitoring the organization’s performance to ensure the ultimate goals

are being met and correcting any areas of the process that are restricting the outcome desired

and is the last of the four functions of management. It involves establishing performance

standards based on the company's objectives, and evaluating and reporting actual job

performance. Praise and recognition are controlled at this level. Once management has done

both of these things, it should compare the two to determine any necessary corrective or

preventive action. Management should not lower standards in an effort to solve performance

problems. Rather they should directly address the employee or department having the

problem. Conversely, if limited resources or other external factors prohibit standards from

being attained, management should lower standards as needed. The control process, as with

the other three, is ongoing. Through controlling, management is able to identify any

potential problems and take the necessary preventative measures. Management is also able

to identify any developing problems that need to be addressed through corrective action. In

order for management to be considered successful, it must attain the goals and objectives of

the organization. This requires creative problem solving in each of the four functions of

management. More so, success requires that management be both effective and efficient.

Therefore, it needs to not only accomplish those goals and objectives, but do it in a way that

the cost of accomplishment is viable for the company. Since the final data is gathered here

the manager generally knows who is and who isn’t excelling in their role of the processes.

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Good management skills:-

Human skills: A manager with good communication skills is able to instruct

as well as he listens. Managers who can communicate effectively can

process information, and then relate it back to their teams clearly. Effective

managers should be able to understand, lead, and relate the organization's

vision back to their employees in order to maintain productivity.

Expand leadership skills: It is a common practice for companies to promote

employees with the best results, but sometimes the best salesman doesn't

make the best manager. Leadership is a crucial attribute that many managers

lack despite their job title..

Expand leadership skills Encourage adaptability: Adaptability also

contributes to a manager's effectiveness. When a manager is able to adjust

quickly to unexpected circumstances, he is able to lead his team to adjust as

well. Adaptability also means that a manager can think creatively and find

new solutions to old problems.

Interpersonal skills: Effective managers should strive to build personal

relationships with their teams. Employees are more likely to exceed

expectations when they trust their manager. When managers establish a

relationship with employees, it builds trust and employees feel valued.

Valued employees are more willing to get the job done right. The best

managers know when their employees need more development, and how to

ensure those developments are successful.

Decision making skills: Assembling the work like distributing tasks,

supervising their execution and providing feedback involve a lot of decision

making, for which good manager needs to think rationally, analyze variables

effectively and strategize with skill.

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Reference:-

1. http://www.nissanusa.com/

2. http://www.nissan-global.com/EN/COMPANY/MESSAGE/VISION/

3. http://en.wikipedia.org/wiki/Nissan_Motor_Company

4. http://autos.msn.com/browse/Nissan.aspx

5. https://www.google.com.sa/search?q=nissan+motors+logo&hl=en&site

=imghp&source=lnms&sa=X&ei=1oVvUtCGLuSZ0QXFrYH4CA&ve

d=0CAgQ_AUoAA&biw=1366&bih=600&dpr=1

6. http://www.ask.com/question/definition-of-work-specialization

7. http://www.businessdictionary.com/definition/job-specialization.html

8. http://www.businessdictionary.com/definition/departmentalization.html

#ixzz2j9LjG0Uc

9. http://myllurmanagement.blogspot.com/2012/12/organizational-design-

list-and-discuss.html

10. http://www.peopleskillsdecoded.com/what-makes-a-good-manager/

11. http://www.profilesinternational.com/solutions/leadership-

development/effective-management-skills.php