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UNIT-1 Introduction To Management

UNIT 1: INTRODUCTION TO MANAGEMENT: 8 hours Concept and Nature –Types of Managers- Responsibilities and skills of Professional Manager- Functions of Management – Fayol’s Principles of Management – Administration vs. Management– Management Process – Levels of Management – Approaches to the study of Management - Challenges of managing 21st century Corporations/Organisations.

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24.7upskill Lakshmi V
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794 views

UNIT-1 Introduction To Management

UNIT 1: INTRODUCTION TO MANAGEMENT: 8 hours Concept and Nature –Types of Managers- Responsibilities and skills of Professional Manager- Functions of Management – Fayol’s Principles of Management – Administration vs. Management– Management Process – Levels of Management – Approaches to the study of Management - Challenges of managing 21st century Corporations/Organisations.

Uploaded by

24.7upskill Lakshmi V
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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UNIT-1

INTRODUCTION TO MANAGEMENT

By

Prof. Lakshmi V MBA, M.Com, M.Phil, NET-JRF,(PhD)


Assistant Professor and Head
Department of Commerce
Acharya Institute of Graduate Studies
Acharya Institutes, Bengaluru
E-mail: [email protected]
Mobile:9964005825
Topics covered in this session
• Introduction
• Meaning
• Definition
• Concept of Management
• Nature of Management
a) Management as Art
b) Management as Science
c) Management as Profession
BUSINESS
• B=BUSY
• U=UNIVERSAL
• S=SALES
• I=INVESTMENT
• N=NEED
• E=ECONOMY
• S=SUPPLY
• S=SATISFACTION
Evolution of BUSINESS
• https://youtu.be/REm0aqPvRb8

• https://youtu.be/eUyRI66JkgQ
Introduction and Meaning

• Management is the attainment of


organizational goals in an effective and
efficient manner through planning, organizing,
staffing, directing and controlling
organizational resources. Organizational
resources include men(human beings), money,
machines and materials
Definition
• According to Mc Farland, "Management is
defined for conceptual, theoretical and
analytical purposes as that process by which
managers create, direct, maintain and operate
purposive organization through systematic, co-
ordinated co-operative human effort
Definition
• Peter F. Drucker defines, "management is an
organs- organs can be described and defined
only through their functions”.

• Henry Fayol, "To mange is to forecast and


plan, to organize, to compound, to co-ordinate
and to control."
Conclusion from the definitions
Management is the sum-total of all those activities that
• (i) determine objectives, plans, policies and
programmes;
• (ii) secure men, material, machinery cheaply
• (iii) put all these resources into operations through
sound organization
• (iv) direct and motivate the men at work,
• (v) supervises and control their performance and
• (iv) provide maximum prosperity and happiness for both
employer and employees and public at large.
Nature of management

• Management as a Science

• Management as Art

• Management as Profession
Management as a Science
• Scientific Methods, Analysis, Observation
• Experimentation
• Mathematical Models
• Not Pure or natural Science its Social Science
• Behavioral Science
In total its systematic study of knowledge
Management as Art

• Application of knowledge

• Thinking Ability

• Situational analysis

• Leadership abilities
Management as Profession

• According to McFarland a profession possess the following


characteristics :
• (i) a body of principles, techniques, skills, and specialized
knowledge;
• (ii) formalized methods of acquiring training and experience;
• (iii) the establishment of a representative organization with
professionalization as its goal;
• (iv) the formation of ethical codes for the guidance of
conduct; and
• (v) the charging of fees based on the nature of services
CHARACTERISTICS OF MANAGEMENT

• Management is goal oriented


• Management is universal
• Management is integrative force
• Management is Social Process
• Management is Multidisciplinary
• Management is continuous process
CHARACTERISTICS OF MANAGEMENT

• Management is Intangible
• Management is art as well as science
• Management is economic activity
• Management is step by step process
• Management is system of authority
Managers
“Managers are organizational
members who are responsible for
the work performed by other
organizational members”
Levels of managers
Functions of Managers
• Planning the work
• Proper and effective communication
• Taking decisions
• Encouraging team sprit
• Delegating authority
• Solving problems
• Coordinating various individual efforts
Functions of managers
• Better utilization of work
• Stimulating workers
• Setting targets
• Motivating sub-ordinates
• Arranging training and development
• Controlling the deviations
• Maintain good human relations
RESPONSIBILITIES OF MANAGERS
• Responsibility towards customers
• Responsibility towards Shareholders
• Responsibility towards employees
• Responsibility towards suppliers
• Responsibility towards distributers and retailers
• Responsibility towards industry and competition
• Responsibility towards unions
• Responsibility towards society
• Responsibility towards government
SKILLS OF PROFESSIONAL MANAGER

• Conceptual skills
• Human relation skills
• Technical skills
• Communication skills
• Administrative skills
• Leadership skills
• Problem solving skills
• Decision making skills
FUNCTIONS OF MANAGEMENT
• Planning
• Organizing
• Staffing
• Directing
• Controlling
Henri Foyal’s 14 Principles of Management
Management V/S Administration
Management Process
Approaches to study management
• Scientific management approach
• Administrative management approach
• Human Relation approach
• Social system approach
• Decision theory approach
• Management Science approach
• Human behavioral approach
• Mathematic or quantitative approach
• System approach
• Contingency or situational approach
Scientific management approach
A) Science not rule of thumb;
• Each and every job and its method of doing it should be based
on scientific study and analysis rather than on trial and error.
• Each task should be scientifically planned.
B) Harmony not Discord;
• There should be healthy cooperation between employer and
employees According to Taylor management should adopt an
enlightened attitude and share the gains of productivity with
workers.
• Workers should perform their duty with discipline and loyalty.
Administrative management approach
• Firstly, they find out certain universal principles, which they think
universally valid, as they are derived from experience of industrial
organization.
• Secondly, they believe that the principles they have develop are
scientifically valid, as these principles are based on empirical
observation. They considered that the application of such principles
would ensure greater economy and efficiency in the organization.
• Thirdly, they think about the structure of the administration or
organization. They consider that without structure, organization
cannot function. For them “Structure is a device through which the
human beings working in an organization, are assigned the tasks and
are related to each other. They believe that structure moulds the
nature of human being according to the needs of organization.”
Human Relation approach

• 1.People are emotional rather than economic


rational beings
• 2.Organizations are co-operative, social
systems rather than mechanical ones
• 3.Organizations are composed of informal
structures, rules and norms as well as formal
practices and procedures
Social system approach
• This approach says management is a social
system composed of people who work in
cooperation.
• Relationships exist between the external and
internal environment of organisation.
• There should be harmony between the goals
of organisation and goals of the group.
• Co-operation amongst the group is necessary.
Decision theory approach
• Specify objectives and criteria for making
decisions
• Developing alternatives
• Analyzing and comparing alternatives
• Select the best alternatives
• Implement the chosen alternatives
• Monitor the results to ensure tha
• Desired results are achieved.
Management Science approach
Human behavioral approach
• The behavioral school of management
emphasized what the classical theorists ignored
– the human element.
• Behavioral theorists viewed organization from
individual’s point of view.
• It emphasizes individual attitudes and
behaviors and group processes, and recognized
the significance of behavioral processes in the
workplace.
Mathematic or quantitative approach
• Aims at higher degree of precision and perfection
by using mathematical and statistical tools.
• Offers a systematic and scientific analysis and
solution to problems.
• Consistent use of logical reasoning to solve
problems helps in reducing personal bias and
intuition of managers.
• Involves knowledge and skill of statistics ,
engineering, electronics, accounting etc.
System approach
• A system approach is set of interrelated and
inter dependent parts arranged in a manner that
produces a unified whole.
• The human body is a system with all the organs,
muscles, bones and conscious that likes all of its
parts.
• In a company a group of division people working
for a common goal or success. So this system for
mainly approach to the management.
Contingency or situational approach
• Implies there is no “One best way” of managing
,it depends upon situations and circumstances.
• It requires thorough knowledge of situational
variables and external factors.
• Widens the horizon of management from
management theory, principles, techniques.
• Calls for knowledge and analytical abilities on the
part of managers.
Challenges of managing 21st century organizations

• Impact of globalization
• Managing cross borders
• Revolution of Information Technology
• Security issues
• Knowledge workers
• Ethical issues
• Social responsibilities
• Ecological Challenges
• Corporate strategy
• Striving to eliminate internal problems

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