Astranti Theory Revision: Management

Introduction

• Presenter: Molly from Astranti
• Topic: Management
• Focus: A specific model useful for E2 and MCS exams
• Expert: Anthony

Definition of Management

• Coordination of people's efforts to accomplish organizational goals and objectives efficiently and effectively
• Managers are typically reactive, addressing issues as they arise and planning short-term

Henri Fayol's Five Management Functions

1. Planning and Forecasting

   • Define goals and establish strategies
   • Forecast results and develop plans to coordinate activities
   • Example: Joe (Manager of a doll-making company)
     • Plans strategy for revenues, profits, production, new products
     • Ensure staff roles and organizational structure are clear
     • Establish procedures for management and operations

2. Organizing

   • Arrange work to achieve organizational goals
   • Break down plans into detailed tasks and allocate them
   • Example: Joe
     • Define manufacturing process
     • Select and train staff
     • Create staff schedules for production lines

3. Commanding (Communicating)

   • Inform staff of tasks and schedules
   • Modern term: Communicating (implies two-way interaction)
   • Example: Joe
     • Explain tasks and production shifts to staff

4. Coordinating

   • Ensure all staff activities are aligned and working towards the same objectives
   • Important in team settings
   • Example: Joe
     • Coordinate between production foreman, operators, and dispatch staff

5. Controlling

   • Monitor performance, compare actual to standard, take necessary action
   • Example: Joe
     • Review staff performance against plans
     • Ensure quality checks and standard procedures

Conclusion

• Overview of Fayol's theory
• Introduction to broader Astranti study materials and support:
  • Comprehensive study texts
  • Practice test questions
  • Revision notes
  • Tutor support from Astranti
• Additional resources available at Astranti's website
• Encouragement to subscribe to Astranti's YouTube channel for more content

• Important Note: Fayol's theory is part of a larger set of models and teachings offered by Astranti, including free samples and additional study aids.