Business Studies( Management)

1. Business Studies( Management) By: Muhammad Suleman MBA MIT MSC Economics

2. RECOMMANDED BOOK Essentials of Management BY Harold Koontz Hienz Weihrich 7 th EDITION

3. Marks Distribution • Total Marks = 100 • Assignments 10 • Quizzes 10 • Presence 05 • Mid Term Exam 25 • Final Exam 50

4. Scope of the Lecture • What is management • Management is essential for organization • Levels of management First Line Manager(FLM) Middle Manager Top Manager. • Skills for the management Technical skills Human skills Conceptual Skills. • Functions of the Management Planning organizing leading Controlling Assurance Staffing

5. WHAT IS MANAGEMENT? • Getting work done by the others is management. • management is the process of achieving the goals collectively • Management is the process of designing and maintaining an environment in which individual work together in groups effectively and efficiently and accomplish the selected goals/aims…..

6. Management continue…. • It is only possible to achieve the organizational goals if management would be strong Effectiveness: • for the achieving of goals how many resources have been used is effectiveness • completing the activities so that organizational goals are achieved is effectiveness • Effectiveness is the ability to choose appropriate goals and to achieve those goals Efficiency : • getting the most output from the least input is efficiency • Efficiency is the ability to make the best use of available resources in the process of achieving goals

7. Management is essential for Organization • It is important in the organization because managers have to take task from their employees so that they can achieve their goals . • Without management organization is meaningless • Organization: • It is an entity where two or more persons work together in order to achieve a goal and having a common purpose. • e.g. Hospitals, Colleges, factories , Government offices, Mosque etc… • The role of management is to motivate the employee • Motivate: influencing others to work towards their goals • It is only management that provides coordinated environment in which every body share their views, sit together and discuss problems and hence find out remedy for the problems

8. Who are Managers: • A manager is a person who works with and through other people by coordinating their work activities in order to achieve their organizational goals • Managers perform various jobs and duties and are responsible for higher profits and for great performance.

9. What do Managers do? Traditionally manager’s job has been classified according to the following four functions: Planning: determining organizational goals and the mean for achieving them. Organizing: deciding where decisions will be made, who will do what jobs and tasks, and who will work for whom Leading: inspiring and motivating workers to work hard to achieve organizational goals Controlling: monitoring progress towards goals achievement and taking corrective actions when needed. A good manager is , who assure himself to perform these functions

10. Levels of the management There exists three levels of the management which are: First line Manager Middle Manager Top Managers

11. First Line Manager • These are the managers who manage the work of non managerial individuals who are directly involved with the achievements of organizational goals. • first-line managers are responsible to manage the day to day activities. • The process which is going on to achieve goals, is under the supervision of first line manager

12. Middle Managers All the managers between FLM and top management are the middle managers. e.g. Head of the departments Top Level Managers: • top managers are responsible for making organization wide decisions and establishing the plans and goals that effect the entire organization. • Top managers are responsible for overseeing the whole organization and typically engage in more strategic and conceptual matters • e.g. Chancellor , VC or Dean of the university

13. Skills for the Management Skills for the management are classified into three categories which are: • Technical Skills • Human Skills • Conceptual Skills

14. Technical Skills: • Technical skill is the knowledge and proficiency in a certain specialized field • One must be proficient in his/her field so that whatever is there in his/her mind bring it to the reality • e.g. Making soap in manufacturing company

15. Technical Skills: For example • a manager who is supervising accountants needs to know the accounting processes. • a manager who is supervising a machinist must know how to operate the equipment. • a manager who supervises the construction of a home must know the sequence of operations and how to perform them.

16. Human Skills • It is the ability to work with other people both individually as well as in a group. • Relating to other people is vital in order to be a good manager • Diversity in the workplace is commonplace. • Here we focus on the communication skills. • Communication skills must be powerfull.

17. Human Skills • The manager must understand different personality types and cultures to be able to supervise these workers. • Human skills cannot be learned in a classroom; they are best learned by working with people

18. Conceptual Skills: • It is the ability to think and to conceptualize about the abstract and complex things • Here the manager watch out organization as a whole. • Here managers are involved in team work so that find out remedy/ solution for the complex situation.

19. Some Other Skills For Managers • Communication Skills • Computer skills • Time Management Skills

20. Communication Skills • Communication skills fall into the broad categories of oral and written skills, both of which managers use in many different ways • It is necessary for a manager to orally explain processes and give direction to workers • Managers are also expected to conduct meetings and give talks to groups of people.

21. Communication Skills • An important part of the oral communication process is listening • Managers are expected to listen to their supervisors and to their workers. • A manager must hear recommendations and complaints on a regular basis and must be willing to follow through on what is heard

22. Communication Skills • Managers are also expected to write reports, letters, memos, and policy statements • All of these must be written in such a way that the recipient can interpret and understand what is being said. • This means that managers must write clearly and concisely

23. Computer skills • It is necessary for managers to have computer skills in order to keep up with these rapid changes. • Many of the processes that occur in offices, manufacturing plants, warehouses, and other work environments depend on computers and thus necessitate managers and to have computer skills.

24. Time Management Skills • Because the typical manager is a very busy person, it is important that time be managed effectively • This requires an understanding of how to allocate time to different projects and activities. • This requires an understanding of how to allocate time to different projects and activities.

25. Time Management Skills • Good time-management skills can be learned, but managers must be willing to prioritize activities, delegate, deal with interruptions, organize work, and perform other acts that will make them better managers.

26. Functions of the Managment Following are the functions of the management • Planning • Organizing • Leading POLCA Functions • Controlling • Assurance • Staffing

27. Functions of the Managment Planning Setting goals and deciding how to best achieve goals Organizing Allocating and arranging the resources Controlling Regulating activities to reach goals Assurance Leading Influencing others to work towards goals

28. What Should Come Next??? ENOUGH FOR TODAY OR TO CONTINUEE………….

29. QUIZ NO 2 Q #1 : ENLIST THE PROCESS/STEPS OF THE PLANNING AND EXPLAIN IT BREIFLY. Q#2 : WHAT ARE THE BENEFITS OF THE GOAL NOTE: UR TIME STARTS NOW 6:01 AM