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Management and Entrepreneurship: Irfan Khan & Amogh Ballolli
Management and Entrepreneurship: Irfan Khan & Amogh Ballolli
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Course Outcomes:
At the end of the course the student will be able to:
1. CO1: Explain about the management and planning.
2. CO2: Apply the knowledge on planning, organizing, staffing, directing and
controlling.
3. CO3: Describe the requirements towards the small-scale industries and project
preparation.
Syllabus for the Management and Entrepreneurship
course
Module 1
Management: Definition, Importance-Nature and Characteristics of Management, Management Functions,
Roles of Manager, Levels of Management, Managerial Skills, Management & Administration, Management
as a Science, Art & Profession
Planning: Nature, Importance and Purpose Of Planning, Types of Plans, Steps in Planning, Limitations of
Planning, Decision Making-Meaning, Types of Decisions- Steps in Decision Making.
Module 2
Organizing and Staffing: Meaning, Nature and Characteristics of Organization-Process of Organization,
Principles of Organization, Departmentalisation, Committees -meaning, Types of Committees, Centralization
Vs Decentralization of Authority and Responsibility, Span of Control (Definition only), Nature and
Importance of Staffing, Process of Selection and Recruitment.
Directing and Controlling: Meaning and Nature of Directing-Leadership Styles, Motivation Theories
Communication-Meaning and Importance, Coordination- Meaning and Importance, Techniques of
Coordination. Controlling-Meaning, Steps in Controlling.
Continuation of syllabus
Module 3
Social Responsibilities of Business: Meaning of Social Responsibility, Social Responsibilities of Business towards
Different Groups, Social Audit, Business Ethics and Corporate Governance.
Entrepreneurship: Definition of Entrepreneur, Importance of Entrepreneurship, concepts of Entrepreneurship,
Characteristics of successful Entrepreneur, Classification of Entrepreneurs, Intrapreneur – An Emerging Class, Comparison
between Entrepreneur and Intrapreneur, Myths of Entrepreneurship, Entrepreneurial Development models, Entrepreneurial
development cycle, Problems faced by Entrepreneurs and capacity building for Entrepreneurship.
Module 4
Modern Small Business Enterprises: Role of Small Scale Industries, Concepts and definitions of SSI Enterprises,
Government policy and development of the Small Scale sector in India, Growth and Performance of Small Scale Industries
in India, Sickness in SSI sector, Problems for Small Scale Industries, Impact of Globalization on SSI, Impact of
WTO/GATT on SSIs, Ancillary Industry and Tiny Industry (Definition only).
Institutional Support for Business Enterprises: Introduction, Policies & Schemes of Central–Level Institutions, State-
Level Institutions.
Continuation of syllabus
Module 5
Project Management: Meaning of Project, Project Objectives & Characteristics, Project IdentificationMeaning
& Importance; Project Life Cycle, Project Scheduling, Capital Budgeting, Generating an Investment Project
Proposal, Project Report-Need and Significance of Report, Contents, Formulation, Project AnalysisMarket,
Technical, Financial, Economic, Ecological, Project Evaluation and Selection, Project Financing, Project
Implementation Phase, Human &Administrative aspects of Project Management, Prerequisites for Successful
Project Implementation.
New Control Techniques- PERT and CPM, Steps involved in developing the network, Uses and Limitations of
PERT and CPM
Topics of New/Bridge materials
• Managing technology & innovation. “Management of innovation and technology
is of particular importance right now,” says Sabatier. ...
• Social entrepreneurship. ...
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Topics of New/Bridge materials
• Managing technology & innovation. “Management of innovation and
technology is of particular importance right now,” says Sabatier. ...
• Social entrepreneurship. ...
“Management is the art of knowing what you want to do and then seeing that it is done in the best and
cheapest way” - -- F.W. Taylor
“Management is the accomplishment of results through the efforts of other people” --- Lawrence
“Management is to manage is to forecast and plan, to organize, to command, to coordinate and control”. --
Henry Fayol (1916)
MANAGEMENT
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CHARACTERISTICS
• Management is a distinct process.
• Management is an organized activity
• Management aims at the accomplishment of predetermined
objectives.
• Management is both a science and an art.
• Management is a group activity
• Management principles are universal in nature
• Management integrates human and other resources.
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Nature of Management
• Multidisciplinary
• Dynamic nature of Principles
• Relative, Not absolute Principles
• Management: Science or Art Management as
profession Universality of management
• Management is a Situational in Nature
Concept of management-Raymond G. Leon
• Management by Communication
• Management by Systems
• Management by Results
• Management by Participation
• Management by Motivation
• Management by Exception
• Management by Objectives
Importance of Management
• PLANNING
• ORGANIZING
• STAFFING
• DIRECTING
• CONTROLLING
PLANNING
• Planning is determining the objectives and formulating
the methods to achieve them. It is more simply said than
done. A job well planned is half done. During planning
one needs to ask oneself the following:
• What am I trying to accomplish i.e. what is my objective?
• What resources do I have and do I need to accomplish
the same?
• What are the methods and means to achieve the
objectives?
• Is this the optimal path?
Types of Planning
• Purposes or missions,
• Objectives-It is the ultimate goal towards which the activities of the
organization are directed
• Strategies-general program of action and deployment of resources
• Policies-general statement or understanding which guide or channel
thinking in decision making
• Procedures-states a series of related steps or tasks to be performed in a
sequential way
• Rules-prescribes a course of action and explicitly states what is to be done
• Programs-comprehensive plan that includes future use of different
resources
• Budgets-statement of expected results expressed in numerical terms
Principles of Planning
• Take Time to Plan
• Planning can be Top to Down or Bottom to Top
• Involve and Communicate with all those Concerned
• Plans must be Flexible and Dynamic
• Evaluate and Revise
Steps in Planning
1. Determining the goals or objectives for the entire organization.
2. Making assumptions on various elements of the environment.
3. To decide the planning period.
4. Examine alternative courses of actions.
5. Evaluating the alternatives.
6. Real point of decision making
7. To make derivative plans.
MCQ on Management Planning
a) Synergy planning
b) Ad hoc planning
c) Business level planning
d) Scenario planning
MCQ on Management Planning
a) Business
b) Succession
c) Ad hoc
d) Financial
a) Functional
b) Operational
c) Middle level
d) Top level
Definition 1
• Selecting and training individuals for specific job functions,
and charging them with the associated responsibilities.
Definition 2
• Number of employed personnel in an organization or program
. Also called workforce.
DIRECTING/LEADING
HUMAN CONCEPTUAL
TECHNI
CAL
TECHNICAL SKILLS
A persons’ knowledge and ability to make effective use of any
process or technique constitutes his technical skills.
a) Conceptual skills
b) Human skills
c) Technical skills
d) Writing skills
Students are requested to give there answer here :https://bit.ly/3iCOk2X
MANAGER’S ROLES
• Interpersonal role
• Informational role
• Decisional role
INTERPERSONAL ROLE
• Figurehead- ethical guidelines and the principles of behavior
employees are to follow in their dealings with customers and
suppliers
• Leader- give direct commands and orders to subordinates and
make decisions
• Liaison-coordinate between different departments and establish
alliances between different organizations
INFORMATIONAL ROLE
• Monitor- evaluate the performance of managers in different
functions
• Disseminator-communicate to employees the organization’s
vision and purpose
• Spokesperson- give a speech to inform the local community
about the organization’s future intentions
DECISIONAL ROLE
• Entrepreneur- commit organization resources to develop
innovative goods and services
• Disturbance handler- to take corrective action to deal with
unexpected problems facing the organization from the external
as well as internal environment
• Resource allocator- allocate existing resources among different
functions and departments
• Negotiator- work with suppliers, distributors and labor unions
Levels of Management
The term “Levels of Management’ refers to a line of demarcation between various managerial
positions in an organization. The number of levels in management increases when the size of
the business and work force increases and vice versa. The level of management determines a
chain of command, the amount of authority & status enjoyed by any managerial position.
LEVELS O M
F ANAGEMENT
Management – An Art, Science or Profession
Science: Any branch of knowledge to be considered a science (like – physics,
chemistry, biology etc.) should fulfill the following conditions:
• The existence of a systematic body of knowledge encompassing a wide
array of principles;
• The principle must explain a phenomenon by establishing cause – effect
relationship;
Over the years, thanks to the contributions of many thinkers and
practitioners, management, with its own principles has emerged as a
systematic body of knowledge.
Management – An Art, Science or Profession
• Towards customers
• Towards employees
• Towards shareholders
• Towards Government
• Towards society
MCQ on MANAGEMENT ROLE
a) Profit maximisation
b) Introducing private sector business principles into the public sector
c) Replacing public management with private sector management
d) Restructuring public organisations
MCQ on Management
Deciding how resources of the organization will be used to achieve strategic goal.
Ex1: Unit Director plans a meeting of staff nurses to reinforce knowledge gained
from orientation of new staff… may get endorsement from the Division Chief
Nurse who has set her own staff development plan for the whole division.
Ex2: Unit Director reviews with staff medicine supplies
Strategic Vs Tactical
Planning
Types of Plans
Objectives
Goals or aims which themanagementwishes to achieve.
Specific target to be reached by an organization Objective Vs
Vision
Vision is the dream that an entrepreneur creates in his waking hours
of his prefer future
Objective Vs Purpose
Purpose is primary role defined by the society or a broad aim
Objective Vs Mission
Mission is unique aim that sets the organization apart from other of
its type
Characteristics of objectives
a) Synergy planning
b) Ad hoc planning
c) Business level planning
d) Scenario planning
MCQ on Management Planning
a) Business
b) Succession
c) Ad hoc
d) Financial
Implement chosen
alternative
5. Implement
choose alternative: managers
must now carry out the alternative.
▪ Often a decision is made and not implemented.
Recognize need for
a decision
Implement chosen
alternative
Implement chosen
alternative
2.Intoduction to management
https://nptel.ac.in/courses/122/102/122102007/
3.Organisational management
https://nptel.ac.in/courses/110/102/110102016/
Case Study
• Dilemma faced by manager in decision making
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1791334
5. Decision making
https://nptel.ac.in/courses/110/105/110105082/
Text Books
• Principles of Management P.C.Tripathi, P.N.Reddy Tata Mc Graw Hill
• Dynamics of Entrepreneurial Development & Management Vasant Desai
Himalaya Publishing House
• Entrepreneurship Development Poornima. M. Charantimath Pearson Education
2006
Thank you