Principles and Practices of Management. Meaning & Nature of Management. Meaning & Nature of Management. In the modern world, one should utilize economically & efficiently, resources of all kinds- human, physical, technological, financial, intangible etc.
In the modern world, one should utilize economically & efficiently, resources of all kinds- human, physical, technological, financial, intangible etc.
Management plays a catalytic role in optimizing the use of these resources.
The people who manage the resources in organization is known as Manager.
The knowledge, skills, techniques and practices; they use in managing are broadly referred to the Field of Management.
Management is a broad field as it is an attempt to create a desirable future, keeping the past and present in Mind.
Thus Management is the process that unifies various resources together and co-ordinate them to help accomplish the organizational goal.
Management is the principal activity that makes a difference in how well organizations serve people affected by him.
Manager is the thinking organ of the enterprise. All the policy decisions are taken by him.
How successfully an organization achieves its objectives and satisfies social responsibilities as well, depends to a large extent on its managers.
If managers do their jobs well, the organization will definitely achieve its goal.
Definitions can be categorized on the basis of:
Art of Getting Things Done:
The Term Management refers to the process of getting things done, effectively and efficiently, through and with people, in formally organized groups.
It is also the art of creating friendly environment in which people can perform as individuals and yet cooperate towards achievement of group and organizational goal.
The primary job of management is to convert the disorganized resources of men, money, machines, methods and materials into a productive organization.
Management is the practice of Intentionally and continually shaping organizations.
Process Of Managing:
Management is a different process.
This process consists of planning, organizing, staffing, directing and controlling.
It utilizes both human and other resources.
It leads to accomplishment of predetermined objectives.
Management as a group of Team/ Managers:
Management is a group or team of managers who together carry out various managerial activities in the form of POSDC.
It includes all managers from CEO to the first line supervisors.
Practically, the term management is used to indicate only the TOP MANAGEMENT that has the authority for making important decisions like introduction of a new product, issue of shares, joint venture with MNCs etc.
Management as a Discipline or Field of study:Management is the organized body of knowledge which can be learnt in business schools & Institutes which consists of principles, practices, techniques and skills of management that help in achieving organizational objectives.
Management is called a PROCESS as it involves a series of functions as shown:
It starts with planning and ends with controlling but they always do not maintain a rigid sequence.
A practical manager performs all the functions simultaneously as management is a never ending process.
Management is regarded as an Integrating Process as it integrates all human efforts with non-human resources like materials, machines, methods, money etc. by their concerted efforts.
Management is regarded as a Social Process as every manager is required to use various skills of human relations to achieve good relations with the various groups of stakeholders like shareholders, workers, consumers, government, suppliers etc.
Finally, A process is a systematic way of doing things. We refer to management as a process as it emphasizes that all managers, regardless of their particular aptitudes or skills, engage in certain interrelated activities in order to achieve their desired goals.
•F.W. Taylor -“Art of knowing what you want to do and
then seeing that it is done the best and cheepest way”.
•Henry Fayol –“To Manage is to forecast, to plan, to
organise, to command, to co-ordinate and to control”.
•Peter F.Drucker –”Management is work and as such it
has its own skills, its own tools and its own techniques”.
•“Management is the art of getting things done through and with people”.
WHAT IS MANAGEMENT?
1.Psychology:Includes determinants of behavior in the form of personality, perception, attitude, learning, motivation etc.
Focuses attention on behavior of groups, organization and societies rather than individuals.
3.Anthropology: Its studies include individual culture, organizational culture and external environment.
MANAGEMENT AND ADMINISTRATION
I . No Distinction
Fayol-cannot distinguish which activities belong to Management and which to administration .
Administration -Higher executive functions in government public utility etc.
Management –Used for the same function in the business sector,company,corporate.
MANAGEMENT AND ADMINISTRATION
First Time HENRI FAYOLSuggested-
According to Luther Gulick
Koontz and O’Donnell
Planninginvolves tasks that must be performed to attain organizational goals, outlining how the tasks must be performed, and indicating when they should be performed.
Levels of Management
Chief Executive Officer(CEO), President, Vice President
A Model of Managerial Competencies/skills/abilities
A Model of Managerial Competencies
1. Insensitive, intimidating (unapproachable), bullying (harassment)
2. aloof (unfriendly), arrogant (proud,superior,overconfidence)
3. Untrustworthy (unreliable, dishonest)
4. Too ambitious, playing politics
5. Specific performance problems
6. Over managing -- not delegating
7. Ineffective staffing
8. Can’t think strategically
9. Can’t adapt to different bosses
10. Over dependency on mentor (guru,teacher,guide,advisor)
Manager demand rainbow or mixture of skills
The job of a manager demands a combination of many types of skills, whether he belongs to business organization, educational institution, a hospital or a club.
A manager is successful when he is able to make a smooth functioning team of people working under him.
Example of Ethical business practices-
Nature of business Ethics—
-Sense of right and wrong
-Sale of products injurious to public health.ex-charas,heroine
-False claims in advertisement
-Exploitation of workers
-Plain water in injuction
-Duplicate products under popular brand names.
-Using company property for personal use.
Modern viewof social responsibility
-Microsoft corporation donated $100 million (more than 400 crore) for the containment of AIDS in India.
» Understand the reasons for GM’s success in China, and the growing importance of the Chinese market for GM’s overall strategy.
» Discuss and debate whether the Chinese automobile industry was witnessing structural changes and what GM could do about it.
» Understand the threats to GM China’s long-term success and how it could overcome these threats while taking advantage of the opportunities provided by China.
» Understand the scene of social networking websites and the competition existing there.
» Understand the issues and challenges in managing networked businesses.
» Understand whether social networks are a 'winners take all' market.
» Understand how network markets are different from other markets.
» Discuss the strategies of Google regarding entry into the field of social networking and how they learned from their previous mistakes.
» Compare Google + with existing players to understand where it is better or worse.
» Discuss the chances of Google’s success with Google + and its possible future.
1.Explain the concept of management and bring out its importance in present day context.
2. “Management is the effective utilization of human and material resources to achieve the enterprise’s objectives. "comment.
3.Discuss the nature and scope of management. Is management a science or an art or both?
4.Is management a profession? give arguments for and against the professionalization of management.
5.Clearly explain the concept and significance of management. Distinguish between management and administration.
6.How would you argue that management is important for all organizations?
7. “Management is the art of getting things done through people". Comment.
8.Define the term management and explain its basic features.
9.What are the functions of a manager? Briefly explain various managerial skills.
10.“The fundamental functions of management are universal. they are applicable to all situations." Discuss.
11.Difference between authority and responsibility.
12.Distinguish between management process, principle and practices
1.Which one of the following approaches is adopted in studying management?
a) Profession b) Art
c) Science d) Process
a) Pure Science b) applied science
c) Art d) science and art both
3.The concept of scientific management was given by
a) Frederick Taylor b) Henery Fayol
c) Elton Mayo d) Peter Drucker
4.Management as a system emphasises on-
a) close system perespective
b) open system perespective
c) socio-technical system
d)None of these
5.What is the natur of management process?
a) Time-bound b) Continuous
c) Procedural d) disjointed
6.Top management functions are the most important because these take care of-
a)Overall organisation b)specific problems
c)Routine problem d)extraordinary problems
7.Which one of the following terms is not associated with social responsibility?
a) Social commitment b) Social concern
c) Social programme d) Social structure
8.Business organisations should feel concerned with social responsibility because they-
c)Can be more efficient d)can complete in better way