This document discusses management concepts and provides definitions of key terms. It summarizes Armenia's positions related to management in the Global Competitiveness Report, and defines management, organization, and manager. It also outlines the management process including planning, organizing, leading, and controlling. Effectiveness and efficiency are discussed as important criteria for measuring management. The roles and skills required of managers are summarized.

1. Management Concepts

3. Definitions and terms Management A set of activities directed at an organization’s resources with the aim of achieving the organizational goals in an efficient and effective manner. Organization A group of people working together in a structured and coordinated fashion to achieve a set of goals. Manager Planning Decision making Organizing Leading The set of processes used to get members of the org.-n to work together to advance the interests of the org.-n. Controlling Monitoring organizational progress toward goal attainment. Someone whose primary responsibility is to carry out the management process. Setting an organization’s goals and deciding how best to achieve them. Part of planning process that involves selecting a course of action from a set of alternatives. Grouping activities and resources in a logical fashion.

8. Management Process Planning and decision making Organizing Controlling Leading Human resources Financial resources Physical resources Information resources Efficiently Effectively G O A L S

9. Efficiency versus Effectiveness

11. What is a Manager? Someone whose primary responsibility is to carry out the management process. Someone who plans and makes decisions, organizes, leads, and controls human, financial, physical, and information resources.

16. 10 Managerial Roles Interpersonal Figurehead Leader Liaison Ribbon cutting ceremony, dinners, etc. Hiring, training and motivating employees Serving as a coordinator or link between people, groups, organizations Informational Monitor Disseminator Spokesperson Seeking information that may be of value Transmitting relevant information back to others External communication - carry information and communicate to others Decisional Entrepreneur Disturbance handler Resource allocator Initiation of ideas Handling problems – conflicts, strikes, resource shortages, etc. Allocation of funds Negotiator Negotiating with other groups and organizations as a representative of the company

18. Managerial skills Technical Skills necessary to accomplish or understand tasks relevant to the organization. Interpersonal The ability to communicate with, understand and motivate both individuals and groups. Conceptual Skills that depend on the ability to think in the abstract. Diagnostic and analytical Skills that enable a manager to visualize the most appropriate response to a situation.

19. Fundamental Management Skills Management Skill Mixes at Different Organizational Levels