5. 6M Man Money Material Method Machine Market Man in management is referred to as a human resource. It is the recruitment, selection, training, promotion and grievances handling of personnel. Payment of compensation gratuity, termination of services are the few issues that have to be dealt effectively to retain the talent within an organization.Those four dimensions are: a high self-awareness, social awareness, self-management, and good social skills. All of these competencies are important, and they lead to great connections with people. They lead to stronger and more effective managerial performance. EQ is a very important component for excelling as a supervisor.
There are five M's in the business, which can be called as the resources of the business, viz. Man, machines, materials and money as tangible ones and Method as intangible one. 1. Man: As said earlier, Management is the art of getting things done by a group of people.
MA n A g e M e n t: definitiOn, fu n c t i O n s, A n d cOMPetencies 5 Managers implement six management functions as they carry out the process of man-agement (Longest et al., 2000): Planning: This function requires the manager to set a direction and determine what needs to be accomplished. It means setting priorities and determining performance
1. Presented by: Marianne M. Custodio 2 Management Terry & Rue A process or form of work that involves the guidance and direction of a group of people toward organizational goals or objectives. Johnson & Stinson The process of working with & thru people to accomplish organizational goals Stoner The process of planning, organizing, leading and controlling the efforts of organization members The six risk management process steps that we've outlined below will give you and your organization a starting point to implement or improve your risk management practices. In order, the risk management steps are: Risk identification. Risk analysis or assessment. Controls implementation. nBKkWQ4.