introduction to management

WELCOME

NEED FOR MANAGEMENT

Dhruvin

Doshi- 5428

Sahil Shah-

5435

Mohit Goyal-

5401

Kiran Nair-

5436

Rahul Dhoka-

5439

Vishal

Kachhdiya-

5415

Introduction To Management :Management is, above all, a practice where science, art and crafts meet.

Applicable in all walks of life.

Management is like a “Master Key” to open all doors to success.

An organization without a manager is like a car without an engine.

“The conventional definition of management is getting work done through people,

but real management is developing people through

work”

DEFINITIONS:-Abedi Agha Hasan

Management is efficiency in climbing the ladder of success

Stephen R. Covey

“Good management is the art of making problems so

interesting and their solutions so constructive that everyone wants to

get to work and deal with them.”

Paul Hawken

Characteristics of Management :

Continuous Process. Group Activity. Result oriented. Follows well established rules. Flexibility. Intangible. Universally applicable. Situational in nature.

Functions of management

Functions Of

Management

Controlling

Planning Organising

Staffing

Directing

Co- ordinating

Planning :“PLANNING IS LOOKING AHEAD”

Planning is a mechanism for doing things In an orderly manner.

CONCEPTS OF PLANNING :-I. Determining the objectives.II. Deciding the course of action.III. Selecting the best course of

action.

Organizing : Organizing is a tool which gives shape to business plan.

CONCEPTS OF ORGANIZATION :-I. It’s a group activity.II. It’s a continuous process.III. Delegates duties and authorities.

Staffing : Human factor is the most important factor in management.

CONCEPTS OF STAFFING :-I. Recruitment.II. Development and training.III. Motivating and rewarding.

Directing : It is an heart, soul and essence of management.

It involves instructing, guiding and inspiring people.

CONCEPTS OF DIRECTING :-I. Effective communication.II. Effective leadership.III. Maintaining discipline.

Co- ordinating : Establishes links between various department of organisation. It provides unity of action in pursuit of common purpose.

Co- Ordination at different levels :-I. Top level co- ordinates activities of middle level.II. Middle level co- ordinates activities of lower level.III. Lower level co- ordinates activities of subordinates.

Controlling : Controlling is seeing that the actual performance corresponds to expected performance.

Controlling finds out deviation in plans and take corrective actions to assure realisation of plan.

Controlling involves three elements :I. StandardsII. EvaluationIII. Corrective action

Management is an Art :

Mary Parker Foilet , Harold Koontz and several other management authors called management as “The art of getting things done through people”.

Management is an art due to the following reasons :

I. Result oriented.II. Application and dedication.III. Innovation.IV. Individual approach.V. Initiative.VI. Intelligence.

Management is a Science :

F.W.Taylor, father of scientific management was

perhaps the first person to consider management as a science.

Management is a social science

I. Systematic Decision MakingII. Output may vary, input being same.III. Universally followed process.IV. Universally Accepted.

Management is a social science due to:-

Management is a Profession:

Profession is an occupation carried by Professional like Lawyer ,C.A etc.

There is a debate whether management is profession.

Management and Profession has following similarity:-

I. Expert Knowledge.II. Specialization.III. Social Responsibilty.

Management and profession DON’T have following

similarities:-

I. Formal Education.II. Code of Conduct.III. Fees.IV. License.V. Premises.

Thus we can say that management is partly

Profession and partly Non Profession.

Levels of Management:

Top level Management:

It performs administrative functions.

They are responsible for framing plan and policies of organisation.

The nature of work of this level is determinative. It is more administrative than managerial. It requires creative skills.

It covers long span of period. It involves very few people.

It has Board of Directors, C.E.O, Chairman etc.

The main functions are:-

I. Framing objectives of businessII. Taking decisions on important matters.III. To establish long term plans.IV. Structuring the organisationV. Providing leadership and direction to the company.VI. Reviewing and controlling finances.VII. Assembling the resources needed to put the plans into operation.

Middle level management:

Different departmental heads are included a middle level management. They receive orders and instructions from top level management.

It is more executory and managerial than administrative.

It requires pursuasive skills.

It covers intermediate range.

It functions are:-

I. To interpret ,explain and communicate the policies of top management.

II. Operating performance is controlled and monitored by middle level management.

III. Encouraging,training and developing subordinates for higher productivity.

IV. Preparing rules and regulation for lowest management .

Lower level of Management:

Lower level of management is directly linked to routine work of firm. The nature of work of this level is operative . It is more managerial than administrative.

It is link between management and workers.

It consists large number of persons.

It is easy evaluate its performance. It is concerned with short period.

It’s functions are as follows:

I. Planning day to day work.II. Carrying out instructions of middle level management.III. Alloting duties to workers, inspecting and supervising their work.IV. Attending the problems of workers and making arrangement for their training and development.V. To maintain discipline.VI. Create goodwill of the enterprise before workers. and ensure safety of workers, machinery and tools.

Comparison with human Body:

Need for management:

Higher efficiency

Corporate image/Goodwill/Reputation.

Team work.

Motivation.

Reduction in labour Turnover.

Better Relation

Growth and expansion.

Quality of worker’s.

Smooth flow of activities.

Less burden on superiors.

Mutual respect.

Management approach:

Old management Approach:

Autocratic.

Lack of training.

No social responsibility.

No participation in management by employees.

Negative attitude towards workers.

New management approach:

Emphasis on social responsibility.

Proper training.

Delegation of authority.

Workers participation in management.

New Management Trends:

Professional management.

Disaster management.

Event management.

Total quality management.

Professional management:

I. It helps to develop innovative ideas.

II. It facilitate team work.

III. Ensures optimum use of resources.

IV. Generates higher efficiency.

Imporatance:

Disaster management:

Importance:

I. It helps in averting disaster.

II. It helps to manage disaster.

III. It undertakes various relief measure.

Event management:

Importance:

I. It facilitates proper planning of the event.

II. It enables proper organizing of resources.

III. It helps in managing the promotion of the event.

IV. It enables follow up activities relating to the event.

Total quality management:

Importance:

I. It generates satisfaction.

II. It helps produce defect free product.

III. It facilitates optimum use of resources.

IV. It develops team work in the organization

Case study:

Warren Buffet:

“In the business world, the rearview mirror is always clearer than

the windshield.”

Guru:

“VILLAGER

VISIONARY

WINNER”

Nature’s Management: