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Management. MEANING: “Management is the process of Planning, organizing, directing & controlling for achievement of Goal” CHARACTERISTICS: Management is Goal Oriented Management is Universal Management is Continuous Process Management is Group activity Management is Profession

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management
Management

MEANING:

“Management is the process of Planning, organizing, directing & controlling for achievement of Goal”

CHARACTERISTICS:

Management is Goal Oriented

Management is Universal

Management is Continuous Process

Management is Group activity

Management is Profession

Management is art & science

Management is dynamic

Management is decision making

Prepared by Ghanshyam M.Bhuva

management1
Management

IMPORTANCE

Optimum Utilization of Resources

Achievement of Goal

Establishment of Sound Industrial Relationship

Effective Leadership

Raise the standard of Living

Accelerate the process of development

It is universal process

LIMITATION

It is not possible to formulate definite principle

Dynamism reduce the effectiveness of planning and forecasting

Uniform principle cannot be applicable for all type of organization

Prepared by Ghanshyam M.Bhuva

management2
Management

FUNCTION

Planning

Organization

Staffing

Directing

Motivation

Coordinating

Controlling

Reporting

Budget

Prepared by Ghanshyam M.Bhuva

management3
Management
  • MANAGEMENT AS A PROCESS
  • “Management included the general principle that the reason its called management as a process”
  • Every function work Sequencly like planning, organization, staffing, directing and controlling
  • This function are interdepended on each other
  • Dr. Terry says that the management process consist of four function Planning, Organization, Actuating & Controlling.
  • They distinguish between Manager and Non manager
  • Universal Process- Use by Government, Army, Education field, Business.
  • Management Applicable in all Level

Prepared by GhanshyamM.Bhuva

management4
Management
  • MANAGEMENT IS SCIENCE OR AN ART
  • Management is Science:

“science is specialized & systematic knowledge based on principle”

  • Science teaches Principles
  • To think: Determine the Goal, Planning, method, Strategies.
  • Characteristics:
  • Systematic body of knowledge
  • Management is social science
  • Management is an inexact science

Prepared by Ghanshyam M.Bhuva

management5
Management
  • Management is an Art:

“Art is application of knowledge & skill to achieve the results:

  • The function of Art like Achievement of Goal, Implementation of Planning
  • Characteristics
  • Use of knowledge
  • Creative Art
  • Personalization
  • Management is an Art & Science

“Science formulate the principle which is implement by Art that called management is an Art &Science”

  • Science teaches the Principles, Art teaches how to implement them.
  • Good Sentence:
  • “Knowledge is power is not completely true. In fact, applied Knowledge is Power

Prepared by Ghanshyam M.Bhuva

management6
Management

MANAGEMENT AS A PROFESSION

“Profession is an activity where specialized knowledge is used after getting the training and experience for the same”

Example: Lawyer, C.A, Doctore.

Characteristics

Specialized skill

Training

Ethical standard

Association of member

Prepared by Ghanshyam M.Bhuva

management7
Management

OBJECTIVES

Economical Objectives

To earn enough profit

Production of goods and services

Creation of market

Innovation

Growth

Social Objective

Production of goods & service to satisfy the requirement of society

Production of goods of good quality

Supply of goods at a reasonable price

Provide employment

Not to create artificial scarcity of goods

Human Objective:

To give fair wages to workers

To provide good working condition

To provide for self development and education

Fair dealing with workers

Giving them a share in Management

Prepared by Ghanshyam M.Bhuva

management8
Management

FREDERICK TAYLOR’S PRINCIPLES OF MANAGEMENT

Fraderick Taylor’s is the father of scientific management

Two classes are engaged in business like

Taylor’s says that “knowing exactly what you want your men to do, then see to it that they do it in the best and the cheapest way”

Taylor’s gives suggestion:

To assign work to every workers according to his capacity

To give incentive up to 30% to 100%

Prepared by Ghanshyam M.Bhuva

management9
Management

Scientific Principle of Taylor’s

Separation of planning & doing

Functional foremanship

Job analysis

Standardization

Scientific selection & training

Financial incentives

Mental revolution(mental harmony)

Prepared by Ghanshyam M.Bhuva

management10
Management
  • HENRY FAYOL’S PRINCIPLE OF MANAGEMENT
  • Henry fayol’s is the father of Modern Management
  • Taylor suggested new standard of work like piece- rate system. This system is well organized but Fayol Presented the same more effectively.
  • Henry Faloy concentrated on the Top and Bottom level management also.
  • Theory of management
  • Technical activity : Production
  • Commercial activity : Sales, Purchase
  • Financial activity : Fund management
  • Security activity : Protection of Property
  • Accounting Activity : recording of Transaction
  • Managerial Activity : Management Function

Prepared by Ghanshyam M.Bhuva

management11
Management

Henry Fayol’s Principles

Division of work

Authority and responsibility

Discipline

Unity of command

Unity of direction

Subordination of individual interest to general interest

Remuneration

Centralization

Scalar chain

Order

Equity

Stability

Initiative

Team spirit

Prepared by Ghanshyam M.Bhuva

management12
Management

THREE LEVEL OF MANAGEMENT

Top level

Middle level

Bottom level

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management13
Management

Top Level

Function

Trusteeship

Determination of objectives

Selecting the executives

Approving budget

Distribution of earning

To secure long range stability

Bottom Level

Implement order of the CEO

Prepared Plan

Prepared Budget

Formulate police

Increase efficiency

Help top level management in policy decision

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management14
Management

BOTTOM LEVEL

Get instructions & order

Plan for the daily routine

Maintain proper human resources

Reporting to Middle level

DIFFERENCES

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planning
Planning

MEANING:

“According to Henry Fayol Planning refers to a Preview of future activity”

“Planning is the set of premises for achievement of predetermine goal”

CHARACTERISTICS:

Planning is goal oriented

Planning is primary function

Planning is all pervasive

Planning is continuous process

Planning is flexible

Planning concern with future

Planning is mental process

Planning is choice of alternatives

Prepared by Ghanshyam M.Bhuva

planning1
Planning

IMPORTANCE

Planning provide direction

Planning provide framework

Achievement of goal

Reduce the wastage

Reduce uncertainty

Effective control

Coordination

LIMITATION

Planning is Time consuming

Planning is Costly

Planning is unnecessary

Planning is an attack on the freedom of the employee

Incomplete information: Ex:-Credit card

Uncertainty of external factors

Prepared by Ghanshyam M.Bhuva

planning2
Planning

PROCESS

Prepared by Ghanshyam M.Bhuva

planning3
Planning

TYPES OR ELEMENTS OR COMPONENTSOF PLANS

Objectives: Mission, Vision

Policies : Strategies are decided for achievement of goal is called Policies.

Strategies: Set of Action or tactic are called Strategies

Rules :Rules establish order for getting discipline, Coordination, how to work for fulfilling a Program.

Programs: Policies and Plan are called Program(They guides to action or Sequence of activities)

Budgets

TYPES OF PLANNING

On the basis of objectives

Planning of the Existing business

Reform Oriented planning

Developmental planning

On the basis of time

Long range and Short Range

Other types of Planning

Prepared by Ghanshyam M.Bhuva

planning4
Planning

FACTORS AFFECTING SUCCESS OF PLANNING OR PRINCIPLE OF EFFECTIVE PLANNING

Clarity of objectives

Clarity of alternatives

Accurate forecasts and data

Cooperation of staff

Resources

Practical and realistic

Flexible

Adjustment to environment

Prepared by Ghanshyam M.Bhuva

planning5
Planning

BARRIERS TO EFFECTIVE PLANNING

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planning6
Planning

OVERCOMING BARRIERS TO EFFECTIVE PLANNING

Conduct the management Programmes

Effective system of Planning

Employees involved in planning

Proper Communication system should be developed

Technical Training

Prepared by Ghanshyam M.Bhuva

planning premises
Planning Premises

Meaning:

“Premises are assumptions providing a background against which estimated events affecting the planning will take place”

Types of Premises:

Internal Premises and External Premises

Controllable and Non Controllable Premises

Tangible and Intangible Premises

Prepared by Ghanshyam M.Bhuva

planning premises1
Planning Premises

Internal Planning Premises

Sales forecast

Capital Investments

Basic Policies

Supply of Materials and Parts

Development of Unit

Capacity of Employees

External Premises

Relating to general business environment

Political stability

Government control

Government fiscal policy

Population trends

Employment, productivity and National Income

Prepared by Ghanshyam M.Bhuva

planning premises2
Planning Premises

Price level

Technological changes

International Political system

Trade cycles

2. Relating to product Market

Industry Demand

Individual Demand

3. Relating to factor Market

Business Location

Labour availability

Sources of materials and parts

Availability of capital

Prepared by Ghanshyam M.Bhuva

forecasting
Forecasting

Methods of Sales forecasting

Jury-of-Executive Opinion method

Survey of buyers intentions

Trend projection method

Correlation analysis method

Economical indicators method

Controlled experiments

Econometric model method

Procedure for Determining Premises/Elements of Forecasting

Developing the Groundwork

Estimating future demand

Comparing actual with Estimated results

Modifying the Forecast Process

Prepared by GhanshyamM.Bhuva

planning premises3
Planning Premises

Importance of Premises

For Effective Planning

For Reducing risk and Uncertainties

Change in Planning

Co-ordination

Prepared by Ghanshyam M.Bhuva

paper
Paper

Q. A. For the following questions write the correct option selecting from the given option (1 Mark each)

  • The first function of management is………………….

a. Planningb. organizationc. Staffingd. Controlling

2. Management structure has………………………..Levels

a. Oneb. twoc. threed. four

3. In large units what is used as effective medium of planning?

a. Reporting b. Budget c. Planning d. Directing

4. The pre-thinking for future in present is called…………….

a. Planning b. Management c. Directing d. Control

5. The statement of future income and expenditure is called……………

a. Planning b. Organization c. Budget d. Program

6. The arrangement for carrying out Programs is………….

a. Objective b. Policy c. Method d. Rules

7. Who was the promoter of the concept of scientific management?

a. Mr. George R. Terry c. Mr. F.W.Taylor

b. Mr. Henry Fayol d. Mr. Luther Gulick

Prepared by Ghanshyam M.Bhuva

paper1
Paper

8. The winner of title “Father of modern management” is …………………..

a. Frederick Taylor b. George Terry c. Henry Fayold. Harold Kuntzand

9. The easy method to put knowledge into practice is……………….

a. Science b. Art c. Profession d. Employment

10. The art of getting work done through others staying with them is called…………….

a. Planningb. Management c. Administration d. Controlling

Q.B. Answer the following questions- Attain any three (5 Marks Each)

  • What is the management? And explain the functions of management.
  • Give the Meaning of Planning and Explain the step or Process of Planning.
  • “Management is a Science or an Art” Explain Statement.
  • Describe the Henry Fayol Principle of management.

Prepared by Ghanshyam M.Bhuva