Management Journal Essay Example | Topics and Well Written Essays - 1000 words

Management Journal - Essay Example The big question will be how to allocate the available time, say twelve hours and the activities of the day. Theoretically, management can be a cheap course but it is more interesting in a real life situation as the application of the effective concepts of management to actual personal and societal needs and wants (Mejia & Cardy, 2008). We shall analyze management in real life and how proper management or mismanagement is a cost to both the individual and society at large. Management and Planning Our day to day lives involves a lot of activities from waking up, preparing breakfast, going to work, attending social functions etc. Considering the limitation of time in a day, that is, twenty four hours a day and you subtract the medically recommended resting hours, we are left with sixteen hours. The big puzzle is how to attend to all these functions and activities still maximizing their benefits and these calls for planning. This would involve listing down the activities of the day in t heir order of priority and try to allocate appropriate time and resources so as to achieve the desired objective. In real life situation, we will find that during the week some activities will not be of great importance on weekdays and can be scheduled for the weekends. Planning will be of a paramount goal so as rule in the objectivity of an activity and its corresponding returns to you as a person and to the society. Management and Organization After planning your activities and the functions of the day or week, how do you organize them for smooth transfer? As discussed above planning will curtail the order of priority of activities of the day. Organizing these activities is of the paramount importance so as save time and foresee the accomplishment of each one of them. For instance, if on a given day you are supposed to report to work, take your child to the school and visit your bank or financial broker, then you can organize these activities in relation to the length of time allo cated to each activity and the convenience involved. It will be prudent if you first report to work, and then finish our morning duties at work, take the child to the school and finally you can visit the broker in the evening or afternoon. At this juncture, reporting to work and taking the child to school will require the opportunity cost involved such that if the kid is supposed to be in school in the morning, then you can opt to be late to work for a few minutes but first take the child to school. Management and Control In real life situations we are faced with activities which tend to pull us away from the expected or targeted objective. These are short term positive and luring incidences which are too sweet to ignore but they carry a substantial drag of our objectives. For instance, you have a long term goal of saving one million dollars to finance the purchase of a house. After evaluating all of your income sources, factoring out the basic necessities and outsourcing the extra funds, your final plans shows a period of five months to achieve the objective. During this time period, unnecessary opportunities may arise which may require you to withdraw some of the saved income or at the same time divert the monthly saving to cater for â€Å"short- term† that opportunity which in most case they do not bring forth returns so you end up making losses in the venture. Effective management and a solid ground, will allow you to control your spending so as to achieve the intended goal. Management and