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In the
managementManagement in all business and organizational activities is the act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively...
, the ultimate measure of management's
performanceA performance, in performing arts, generally comprises an event in which a performer or group of performers behave in a particular way for another group of people, the audience. Choral music and ballet are examples. Usually the performers participate in rehearsals beforehand. Afterwards audience...
is the metric of
management effectiveness which includes:
- Conflict management
Conflict management involves implementing strategies to limit the negative aspects of conflict and to increase the positive aspects of conflict at a level equal to or higher than where the conflict is taking place. Furthermore, the aim of conflict management is to enhance learning and group outcomes...
, or how well management is able to utilize confrontation and collaboration skills; management's ability to be flexible and appeal to common interests.
- Consideration
Consideration is the central concept in the common law of contracts and is required, in most cases, for a contract to be enforceable. Consideration is the price one pays for another's promise. It can take a number of forms: money, property, a promise, the doing of an act, or even refraining from...
, or how well managers seek to understand and appreciate others' values; and not merely as a means to a business goal.
- Delegation
Delegation is the assignment of authority and responsibility to another person to carry out specific activities. However the person who delegated the work remains accountable for the outcome of the delegated work. Delegation empowers a subordinate to make decisions, i.e...
, or how well management gives assignments and communicates instructions to members of the organization
- Execution, or how well management's plans are carried out by members of the organization
- Leadership
Leadership has been described as the “process of social influence in which one person can enlist the aid and support of others in the accomplishment of a common task". Other in-depth definitions of leadership have also emerged.-Theories:...
, or how effectively management communicates and translates the vision and strategy of the organization to the members
- Motivation
Motivation is the driving force by which humans achieve their goals. Motivation is said to be intrinsic or extrinsic. The term is generally used for humans but it can also be used to describe the causes for animal behavior as well. This article refers to human motivation...
, how management attempts to understand the needs of others and inspires them to perform. Motivation focuses on how performance is rewarded rather than how failure is punished.
- Return on investment
In finance, rate of return , also known as return on investment , rate of profit or sometimes just return, is the ratio of money gained or lost on an investment relative to the amount of money invested. The amount of money gained or lost may be referred to as interest, profit/loss, gain/loss, or...
, or how well management utilizes the resources (financial, physical, and human) of the organization to bring an acceptable return to shareholders