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16224405 Introduction to Management

16224405 Introduction to Management

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Principles of Management: Introduction
WHAT IS ORGANIZATION AND MANAGEMENT?
An organization is a group of people working together in a structured and coordinated fashion toachieve a set of goals.
(
Ricky W. Griffin,
Management 
7
th
Edition, Houghton Mifflin Book Company, Boston, USA)
Organization is a systematic arrangement of people to accomplish some specific purpose.
(Stephen P. Robbins and Mary Coulter
,
Management 
, 5
th
Edition, Prentice Hall of India Ltd)Organization implies a formalized intentional structure of roles or positions.
 
(Heinz Weihrich andHarold Koontz,
 
Management: A Global Perspective,
11
th
Edition, Tata McGraw-Hill Book Company, India.)
An organization is a group of two or more people that exists and operates toachieve clearly stated, commonly held objectives.
 
(Straub and Attner,
 Introduction to Business,
 
Kent publishing, 2004.p. 9109.)
 
From the above definitions it is clear to us that people create organizations to help achieved some pre-specific objectives or purposes.
WHAT IS MANAGEMENT?
Some people define management as managing people tactfully. People are the most valuable resourcesused by any organization. Others defined it as getting things done throughout the effort of other people.Here we are citing some definitions of eminent writers on management:Management is the process aimed at accomplishing organizational objectives by: I) effectivelycoordinating the procurement, allocation, and utilization of human, physical resources of theorganization; and 2) maintaining the organization in a state of dynamic equilibrium with theenvironment. This definition plays important on two aspects namely, coordinating among differentresources and maintaining harmony with the environment in which the organization is continuing itsoperations.(
Arvind V. Phatak 
, International; Dimensions of Management, The Kent InternationalBusiness Series, PWS-KENT PUBLISHING COMPANY, BOSTON, USA)Management is the process of efficiently getting activities completed with and through other people.The management process includes the planning, organizing, leading and controlling activities that take place to accomplish objectives (
David A. DeCenzo and Stephen P. Robbins, Personnel/HRM 3
rd
Ed,Prentice-hall of India)
.Management can be defined as a set of activities (including planning and decision making, organizing,leading, and controlling) directed at an organization’s resources (human, financial, physical andinformation) with the aim of achieving organizational goals in an efficient and effective manner.
(RickyW. Griffin,
 
Management 
, 7th Edition, Houghton Mifflin Book Company , Boston, USA)
The term management refers to the process of getting activities completed efficiently and effectivelywith and through other people.
 
(Stephen P. Robbins and Mary Coulter,
 
Management,
5
th
Edition, Prentice Hall of India Ltd)
1
 
Management is the process undertaken by one or more individuals to coordinate the activities of othersto achieve results not possible by one individual acting alone. (DONNELY, GIBSON, IVANCRVICH,MANAGEMENT)Management is the process of working with and through others to achieve organizational objectives in achanging environment. Central to this process is the effective and efficient use of limited resource. Fivecomponents of this definition requires close examination: 1) working with and through others, 2)achieving organizational objectives, 3) balancing effectiveness and efficiency, 4) making the most of limited resources and 5) coping with a changing environment
(
ROBERT KRETNER,
 
Management 
, 7
th
Edition,A.I.T.B.S. PUBLISHERS AND DISTYRIBUTORS, NEW DELHI, INDIA)
Management is the process of designing and maintaining an environment in which individuals, workingtogether in groups, efficiently accomplish selected aims.
( (Heinz Weihrich and Harold Koontz,
 
Management: A Global Perspective,
11
th
Edition, Tata McGraw-Hill Book Company, India)
The basic definition needs to be expanded:
As managers, people carry out the managerial functions of planning,organizing, staffing, leading and controlling.
Management applies to any kind of organization.
It applies to managers at all organizational levels.
 The aim of all managers is the same: to create a surplus.
Managing is concerned with productivity, which implies effectiveness andefficiency.
PRODUCTIVITY, EFFICIENCY AND EFFECTIVENESS:
What is Productivity?
In a general sense, productivity is an economic measurer of efficiency that summarizers the value of outputs relative to the value of the inputs used to create them. Productivity can be and often is assessedat different levels and in different forms. Successful companies create a surplus through productiveoperations. Although there is no complete argument on the true meaning of productivity, let us define itas the input-output ratio within a time period with due consideration for quality. Productivity is ameasure of how much value individual employees add to the goods or services that the organization produces. The greater the output per individual, the higher the organization’s productivity. (Louis R.Gomez-Mejia and others,
Managing Human Resources,
Prentice Hall India, 3
rd
Edition, New Delhi.)Productivity is doing more with less. ( Michael Le Boeuf, The Productivity Challenge ( New York:McGraw-Hill, 1982), p.8Productivity is the efficiency with which outputs are produced-the ration of output to input.( Charles E.Craig, and R. Clark Harris, “Total Productivity at the Firm Level,Sloan Management Review,Spring1973,pp.13-19.Productivity designates how efficiently a business uses its resources. Le Boeuf, ProductivityChallenges, pp.9-10.)2
 
Productivity can be defined in simple terms as any ratio of output to one or more corresponding inputs.The unit of output can be anything-dollars, units of products, customers served, patient treated or whatever is meaningful to the job or organization. (Ivancevich & others, Fundamentals of Management, fifth edition, p.49)Productivity can be expressed as follows:
Productivity =Output/Input (with a time period, quality considered)
This formula indicates that productivity can be improved
a) by increasing outputs with the same inputs,b) by decreasing inputs but maintaining the same output, or c) by increasing output and decreasing inputs such as labor, materials, and capital.
Total factor productivity combines various inputs to arriveat a composite input. In the past, productivity improvement program were mostly aimed at the worker level. Yet, as
 
P. F. Drucker,
one of the most prolific writers in management observed, “
The greatest opportunity for increasing productivity is surely to be found in knowledge work itself and especially inmanagement.”
WHAT IS EFFICIENCY AND EFFECTIVENESS?
Efficiency is a vital part of management. It refers to the relationship between inputs and outputs. If youcan get more outputs from the given inputs, you have increased efficiency. Since managers dealwith input resources that are scarce-mainly people, money, and equipment –they are concernedwith efficient use of these resources. Management, therefore, is concerned with minimizingresource costs. Efficiency refers to as
“doing things right.”
However, it is not enough simply to be efficient. Management is also concerned with getting activitiescompleted; that is, it seeks effectiveness. When managers achieve their organization’s goals, we saythey are effective. Effectiveness can be described to as
“ doing the right things.”
So efficiency isconcerned with means and effectiveness with ends.By efficient, we mean using resource wisely and in a cost-effective manner. For example, if acorporation like Square Pharmaceutical can produce high quality drugs at relatively low cost it isefficient.By effective, we mean making the right decisions and successfully implementing them. If a firm can produce high quality product that are inspired by customers is effective.
 Effectiveness
entails promptly achieving a stated objective. While,
efficiency
, enters the picture whenresources required to achieve an objective are weighted against what was actually accomplished. Themore favorable the ration of benefits to costs, the greater the efficiency.
(
ROBERT KRETNER,
Management 
, 7
th
Edition, A.I.T.B.S. PUBLISHERS AND DISTYRIBUTORS, NEW DELHI, INDIA)
Efficiency denotes most effective use of society’s resource in satisfying people want and needs.
( Samuelson)
Effectiveness denotes right use of society’s resources.
( Samuelson)
Effectiveness refers to the achievement of objectives.3

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