Unit 1: Media Department management – Media Management Class Notes

Classical and Modern Approaches to Management

5 Major Functions of Management
  • Planning: Plan what’s need to be done in the future
    • Planning is looking ahead
    • According to Henry Foyle – “Drawing a good plan of action is the hardest for any company and requires the active participation of entire organisation with respect to time and implementation”.
    • Planning must be linked to and coordinated at different levels
    • Planning must take the organisation’s available resources and flexibility of a person into consideration as this will guarantee continuity
  • Organising: To bring everyone together for a common cause
    • An organisation can only function well if it is well-organised. This means there must be sufficient capital, staff and raw material for the smooth functioning of the organisation and that can build a good working structure.
    • The organisational structure with a good division of functions and tasks of its crucial importance.
    • When the number of functions increases, the organisation will expand both horizontally and vertically.
    • This requires a different type of leadership
    • Organising is an important function of the 5 important functions of management
  • Commanding: Leading the management – giving orders
    • When given orders and clear working instructions, employees will know exactly what is required of them. Returns from all the employees will be optimised if they are given concrete instructions with respect to the activities that must be carried out by them.
    • Successful managers have integrity, communicate clearly and base their decisions on regular ordeals. They are capable of motivating the team and encourage employees to take initiatives
  • Coordinating: Interact and work with different stakeholders
    • When all activities are harmonised, the organisation will function better. Positive influencing of employee behaviour is important in coordinating. Coordination, therefore, aims at stimulating motivation and discipline within the group dynamics.
    • This requires clear communication and good leadership
    • Only through the positive employee behaviour, management can achieve the objectives intended
  • Controlling: Getting a grip on different facets of the organisation
    • Takes part in 4 steps  – establish performance standards based on organisational objectives, measure and report an actual performance, compare results with performance and standards and take corrective or preventive measures as needed
    • By verifying whether everything is going according to the plan, the organisation knows exactly whether the activities are carried out in conformity with the plan
Management Tasks
Managing is one qf the most important tasks in all companies despite their type, size, market or industry. As an entrepreneur, you will also need to practice management. Here you can find 11 most important management tasks.
  • Coaching: One of the most important management tasks is coaching. Managers must be the persons who will show to their subordinate or team members the right direction where the organization will need to go. They are simply instructors and trainers. The goal is to develop business with high business potential energy in all organizational members.
  • Planning: Planning is one of the management functions and one of the most important everyday tasks of the managers. Managers are persons who plan the future of the company and think about all future activities that organizational members must accomplish. So, planning becomes one of the most management tasks.
  • Change agents: In reality, you can’t find even one day in your business without changes. A successful change process will require strong change agents, the persons who will initiate and facilitate the whole process. You must plan and manage the entire change process if you want to bring the desired results. Managers at the same time must ensure that the company will continue the current level of success and prepare to implement change that will bring future success.
  • Forecasting the future: Forecasting is another managerial task that will provide a picture of how the future will look like from the business perspective. This managerial task is very important because if you implement it in the right way, you will have a clear vision for the future. In such a way you can better prepare yourself for that future.
  • Motivating employees: Employees must be motivated if you want to get the best results from their work. You can’t find the person who will work for nothing. All employees have some motivational factors that will lead them to bring better results to your company. But these motivational factors are different for each employee. One of the management tasks is to optimize motivational processes and maximize employees’ working performances. So, create and spread motivation is another managerial task Management Task.
  • Organising: Organizing is also one of the management functions aside from planning and motivating. Without some level of organization, your company will exist in chaos. Businesses with more employees will have different ideas, different ways of doing things and different personal habits. Organizing is a management task that will make all organizational differentiations to work as one whole — the company.
  • Staffing: Staffing is another managerial task. Because the organizational members, or simply people are one of the most valuable resources for today’s companies, this task becomes crucial for managers. Selecting the right staff for the company is the heart of enabling successful company’s future operations A better team will mean the existence of a higher business potential energy in the enterprise.
  • Controlling: Controlling is also one of the managerial functions like planning, motivating, organizing, and staffing. This task is something that will give you the picture for possible mistakes and failures between what have planned and actual results from the implementation of your plans. The goal is to minimize the deviation between plans and the reality.
  • Negotiating: Another important management task is negotiating. In the business world, there are two types of negotiations: internal and external negotiations. Internal negotiation is in place when managers negotiate with the entities from inside the businesses, and external negotiation is in place when managers negotiate with external entities that are outside the company as suppliers, customers, and community. The better negotiation skills of managers will increase the overall business potential energy of the company.
  • Delegation: Successful managers know how to delegate the right tasks to the right people. We cannot find the perfect manager. Delegating tasks to team members is something that differentiates successful managers from the average and below average executives. The delegation process is a combination of different knowledge and experience that will bring better accomplishment of the tasks.
  • Representing: The last but not the less important managerial task is implementing the representative role of the company. The managers represent companies that they manage. How they look, how they talk, how they walk, and how they think will build the picture of the company in the eyes of the people from outside the enterprise.

Planning & Organising:

  • Formulate and implement media articles
  • Enhance reputation & raise awareness
  • To manage press releases, to get in touch with news agencies
  • Manage & plan of marketing and strategic media campaigns of different media such as print, radio, social media, digital

Initiative & Problem Solving:

  • Use the appropriate mode of media
  • Give advice on a successful media campaign
  • Handle difficult stories and situations
  • Advising on latest media tools and techniques
  • Look into the functioning of the media house

Decision Making:

  • Send accurate messages
  • Make plans as well as changes to the plans
  • Go to the PR, directors on any matters related to all important decisions

Oral Communication:

  • To communicate details to people at all levels
  • Clear communication of media strategies & campaigns
  • Communicate to 3rd parties & PRs
  • Give feedback

Written Communication:

  • Write and edit content
  • Communication is formal
  • Write for online publications

Liaising & Networking:

  • To communicate with the staff
  • Giving all updates
  • Networking and representing to outside agencies

Service Delivery:

  • Responsible for delivery of coverages
  • Responsible for drafting materials, press releases
  • Monitor and regularly report

Analysis & Research:

  • Analyse the competitors model
  • Research new techniques adopted in the industry
  • Analyse the functioning of the PR agencies

Team Development:

  • Empower and educate the colleagues at all times
  • Encourage employees to use the latest tools to engage in social media

Economics of Media

Economic Impact in India Media

FDI Influences on Media Management

  • Economy – capital, business revenue, demand & supply, money flow, etc.
  • Plan financials – inflow & outflow
  • Over employing of staff
  • Can’t depend only on advertisement to generate income
  • Avoid spending on unnecessary things
  • Media economics is a term that describes how the media is managed financially
  • Balance the resources
  • Raising capital is important in media
  • Command economics – govt deciding everything for the business. India doesn’t practice command economics

Macroeconomics of Media

  • Whole of India
  • Large-scale
  • Expected to generate at least $37.55 Billion by 2021
  • Employs over a million people in India

Microeconomics of Media

  • Small-scale

Revenue opportunities for the Media

  • Advertising: Common form of revenue in both old/new media
  • Subscription: Steady revenue
  • Pay-per-item: Specific movie item
  • Merchandising: