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19599461 Management Principles

19599461 Management Principles

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Management principles
Management principles

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Published by: vinothkumararaja8249 on Oct 19, 2009
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 Mr.M.John Paul/ Management studies /Sathyabama University/ Chennai.
 
 Mr.M.John Paul/ Management studies /Sathyabama University/ Chennai.
Management PrincipleUnit 1
Introduction to Management
Groups of people working in an organization to develop or appraise orattain the common goal of the organization by utilizing the available resourcesare called Management. In simple terms it means managing the work done bythe people. Just as the mind coordinates and regulates the various activities ofthe person, the management coordinates and regulates the activities of variousmembers of an organization.
Definition of Management
The definitions by some of leading management thinkers andpractitioners are as follows:(i)
 
“Management is the art of getting things done through the people.”- Mary Park Flott(ii)
 
“To manage is to forecast and to plan, to organize to command tocoordinate and to control.” - Henry Fayol(iii)
 
“Management is the art of knowing what you want to do and thenseeing that it is done in the best and the cheapest way.” – F.W.Taylor.
Need for Management
As the organization grows it faces a lot of problems like shortage of rawmaterial, labour problem, and misunderstanding among various groups etc. Sothere is a need to have a central body or point to a) coordinate the work and b)remove such hurdles both internally and externally. This center point is calledManagement.
Usage of Management
Management is very vital1)
 
To achieve the common goal.2)
 
To develop overall activity.3)
 
To motivate the people.4)
 
To work efficiency.5)
 
To control the overall operation.6)
 
To take up overall planning.7)
 
To maintain mutual relationship among various levels of management.8)
 
To increase the profit or gain.9)
 
To reduce the complexity, difficulties and obstacles.
 
 Mr.M.John Paul/ Management studies /Sathyabama University/ Chennai.
Functions of Management (“POSD CORB”)
1)
 
Planning
: Planning means forecasting or predicting the future activity in aspecific manner or structure. It is the basic function and essential for allthe organization.2)
 
Organizing
: It is collection or joining of all the resources available withinthe organizational and outside, in order to achieve the organizational goalwith efficiency.3)
 
Staffing
: It involves appointing the right man for the right job at the righttime. The management is to analyze the human resource, see if he issuitable for the job and accordingly allocate the work in the organization.4)
 
Directing
: It is showing the correct path or correct way to achieve theorganizational goal within the stipulated time.5)
 
Controlling
: Controlling as a function involves regulating the person orexamining the person whether he is working in the right way or not. Inorder to achieve the common goal as efficient as possible.6)
 
Coordinating
: It is a type of support function. It involves accumulating thework to achieve the task.7)
 
Budgeting
: It means allocation of the resources. It involves financialplanning for the future activities.8)
 
Reporting
: It is a statement showing the various activities to the topmanagement. It shows the status of the work done.
Levels of Management
The various levels of management are,Levels of ManagementAs authority goes up the level of management, responsibility comesdown. It means that the higher officials are more authority, while majorresponsibility are given to middle and lower level.
Top management
: The top management consists of the High officials likeChairman, Board, CEO, and Managing Director. They have a major role in

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