Professional Documents
Culture Documents
Science , Theory & Practice, Environment of Management, Managers and Entrepreneurs , Managerial Roles & Skills , Managers Social & Ethical Responsibilities
Introduction
With the increasing of complexities , managing
business is becoming more and more difficult. Management is not only essential to business concerns but also essential to Banks , Schools, Colleges, Hospitals etc. Management applies to any kind of organization. Management is all about maximizing results with the utilization of minimum resources. The need of existence of management has increased tremendously. Business objectives can be achieved with the cooperative efforts of several individuals.
Management is the Process of getting things done Effectively and Efficiently, through and with other people.
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Resource Usage
Goal Attainment
Low Waste
High Attainment
Management Strives For: Low resource waste (high efficiency) High goal attainment (high effectiveness)
GJ - IMT
Ashpillai
has been defined by different people in several ways such as plan of action, the art of maximizing efficiency, a social process, method of getting things done through the efforts of other people, direction of action by a co-operative group towards a common goal, art and science of decisionmaking and executive leadership, etc.
through the processes of planning, organizing, directing and controlling , motivating in order to attain the specific objectives.
Management
is process of designing and maintaining an environment in which individuals work together in group efficiently accomplishing selected aims and objectives. Managers carry out various managerial functions such as Planning Organizing Staffing
Planning
Planning includes defining goals, establishing strategy, and developing plans to coordinates activities. The process of planning consists of Establishing objectives Making forecasts Formulating policies, Procedures and rules Drawing programmes, schedules, budgets, etc.
Organizing
Organizing includes what tasks are to be done , who is going to perform them , how the tasks are to be grouped, who reports to whom, and where decisions are to be made. The process of organizing consists of Identifying the activities necessary to achieve the
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objectives Grouping the activities into manageable units Assigning duties or tasks to appropriate individuals Delegating necessary authority to individuals and fixing responsibilities for results Defining authority-responsibility relationships among individuals
Staffing
Staffing is filling and keeping filled with qualified people all positions in the business. Recruiting, hiring, training, evaluating and compensating are the specific activities included in the function. It is concerned with human resources. Staffing consists of the following activities: Manpower Planning, i.e., determining the quantity and quality of employees required in organization Recruitment, Selection and Placement Training and Development Appraisal, Promotion and Transfer 9 Employee Remuneration, etc.
Directing
Directing is influencing people's behavior through motivation, communication, group dynamics, leadership and discipline. The purpose of directing is to channel the behavior of all personnel to accomplish the organization's mission and objectives while simultaneously helping them accomplish their own career objectives. Directing is concerned with the execution of plans. Directing is also known as management in action. It involves: Influencing, guiding and motivating the subordinates for the achievement of organizational objectives.
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Controlling
Controlling is a four-step process of establishing
performance standards based on the firm's objectives, measuring and reporting actual performance, comparing the two, and taking corrective or preventive action as necessary. The essence of control is in determining whether the activity is achieving the desired results.
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Controlling
The process of control consists of the following steps: Setting standards or norms for the desired performance Measuring the actual performance Interpreting and comparing actual performance with the set standards Analyzing deviations to fix responsibility Taking corrective actions
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Summary
Planning: It includes defining goals, establishing
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strategy, and developing plans to coordinates activities. Organizing: It includes what tasks are to be done , who is to do them , how the tasks are to be grouped, who reports to whom, and where decisions are to be made. Leading : It includes motivating employees, directing the activities of others, selecting the most effective communication channel , and resolving conflicts. Controlling: The process of monitoring performance, comparing it with goals, and
Definitions
F.W. Taylor - Art of knowing what you want to do and then
seeing that it is done the best and cheapest way. organize, to command, to co-ordinate and to control. its own skills, its own tools and its own techniques.
Henry Fayol To Manage is to forecast, to plan, to Peter F. Drucker Management is work and as such it has
with people
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Nature of Management
Multidisciplinary
Dynamic
Relative Principles Universal principles but adaptive interpretation A science and an art A profession
Management
Management focuses on the entire organization from
both a short and a long-term perspective. Management is the managerial process of forming a strategic vision, setting objectives, crafting a strategy and then implementing and executing the strategy.
Management goes beyond the organizations internal
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operations to include the industry and the general environment. The key emphasis is on issues related to environmental scanning and industry analysis, appraisal of current and future competitors, assessment of core competencies, strategic control and the effective allocation of organizational
having universal applicability. But the result of all managerial policies always depends upon the personal skill of the manager. Besides being a science, it very much takes the form of an art. Management is both art and science. It is the art of making people more effective than they would have been without you. The science is in how you do that. With the growth and development in the principles and techniques of management, it is now very much becoming a profession.
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Management as Science
As a science: Science is a systematized body
of knowledge based on certain principles, capable of general application. This knowledge is obtained through the process of observation, experimentation and testing. Key elements are ;Systematic body of knowledge, universal principles, scientific experiments, cause-andeffect relationship, validity and predictability.
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Management as Science
Like other sciences Management too has a set
of internal hypotheses, though approximate. Measurement and definitions are exact in science, in Management exact they vary. Cause effect relationships Empirical testing and replication of the results is the hallmark of science. In Management this is lacking.
Management as an Art
Management
application of the principles of mgt and carrying out the processes differentiates a great manager from an ordinary one.
Management is personalized. There is
Management as a Profession
As
a profession: Specialized body of knowledge, formal education and training, service motive, representative association, and code of conduct. It is an (a) occupation for which specialized knowledge, skills and training are required and (b) these skills are used for larger interests of the society and (c) the success of these skills is not measured in monetary terms always.
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Is Management Universal??
NO
It is situational &
YEAH
It is a process
circumstantial Fundamentals, It is culture bound techniques and practices are similar. Depends on objectives of the organization Every org. and every manager has a different philosophy
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Policy
Points of Distinction 1. 2. 3. 4.
Nature Type of Work
Administration
A determinative or thinking function Concerned with the determination of major objectives and policies A top-level function Administrative decisions are influenced mainly by public opinion and other outside forces
Management
An executive or doing function Concerned with the implementation of policies Largely a middle and lower level function Managerial decisions are influenced mainly by objectives and policies of the organization
5.
6. 7. 8. 9.
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Superintendent
Supervisors
Management
Importance of Management
Maximum Production at Minimum Cost
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money, materials, machines, methods, motivation, markets and management. Management has control over all other Ms. Management meet the Challenge of Change , Maintains dynamic equilibrium Sound Organization Structure Management directs the organization Innovation Stability
Levels of Management
It refers to a line of demarcation between various
managerial positions. In every organization there is a chain of superiors and subordinates from the highest level to the lowest. This chain is known as chain of command .
Top Level Management
Laying down the overall objectives and broad policies of the enterprise. Organizing the business into various departments and divisions. Provides guidance and direction. Coordinating the work of different departments. Monitoring business environments Maintaining good public relations
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First-Line/Supervisory Managers
First-Line Managers Responsible for Managing the performance of entry-level employees Teaching entry-level employees how to do their jobs Making schedules and operating plans based on middle managements intermediate-range plans Team Leaders are Responsible for.. Facilitating team performance Managing external relationships
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Environment of Management
All organizations draw the inputs from the
environment, convert the inputs into outputs and send them back to the environment. The environment of the business consists of two componentsinternal(systems inside the organization such as, technology, structure, processes and people) and external environment. The external environment affecting the organization is divided into two major categories Direct action and indirect 33 action environment.
Environment of Management
and are affected by the organizations operations. These factors would include suppliers, labor unions, the various laws of land, customers and competitions. The indirect environment consists of those factors that may not have an immediate, direct effect on operations but nevertheless influence the activities of the firm. These include such as technology, socio-cultural and political factors, general economic conditions etc. The managers success lies in understanding the trend in the environment. The trends contain 34 signals and give clues about the potential
Direct consists of those factors that directly affect
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entrepreneur is a person who establishes a business unit and utilizes the other factors of production like land , labor & capital with a aim to earn profit. The manager is a person who utilizes the factors of production like land , labor & capital under a system i.e Organization on behalf of the entrepreneur.
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Points of Distinction
1.
Innovation
Entrepreneur
Manager
2.
3. 4. 5.
Type of Performance
Policy Uncertainty Risks
6.
7. 8. 9.
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Skills
Goals Status Reward
Creative Thinking
Determines the Goals Self-employed Increased Profit
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Interpersonal - Involve people and duties that are ceremonial /official and symbolic in nature collecting, and disseminating information making choices
Informational - Receiving,
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Management Skills
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Systems
System - a set of interrelated and interdependent parts arranged in a manner that produces a unified whole
interact
with
their
System
Transformation Employees work activities Management activities Technology and operations methods Feedback
Environment
GJ - IMT Ashpillai
GJ - IMT
Ashpillai
environments Economics - concern about the allocation and distribution of scarce resources Philosophy - examines the nature of things Political Science - effect of political environment on individuals and groups Psychology - seeks to measure, explain, and change human behavior Sociology - studies people in relation to their fellow human beings
Suppliers
Customers
Specific Environment
Organizational Stakeholders
View businesses are not just economic institutions, they have a responsibility towards protecting and creating social welfare
pursue long-term goals that help society goes beyond legal and economic requirements views business as a moral agent Social Obligation - obligation of a business to meet its economic and legal responsibilities pursues social goals only when they contribute to economic goals Social Responsiveness - capacity of a firm to adapt to changing societal conditions tries to satisfy social needs in line with social norms
Social Responsibility
Social Responsiveness
Social Obligation
Stage 1
Stage 2
Stage 3
Stage 4
Employees
Broader Society
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unionism Fair wage in relation to the cost of living Better working conditions Initiating appropriate measures for the development of human resource and Increase in productivity and efficiency by recognition of merit, by providing opportunities for creative talent and incentives.
company Proper appreciation of the value of their investment in the company by identifying new opportunities that contributes for the growth of business.
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business relations with them Meeting the payment obligations timely Providing true and correct picture about the financial aspects of the company Helping them grow along with the growth of the company, etc.
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Towards Government
Business enterprises should act like law-abiding
citizens Taxes and other duties should be paid timely and honestly Compliance with the rules and regulations as stipulated by various laws of the land, and Supplementing the governments efforts in the developmental activities, etc.
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the national priorities Preventing the creation of monopolies Ensuring hygienic disposal of smoke and waste and other effluents Providing to the community accurate information about its working; Preserving the national resources of the nation by not indulging in reckless exploitation of the resources, etc.
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Case Study
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The End
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