Management intro.(1) 2


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Management intro.(1) 2

  1. 1. MANAGEMENT- DEFINITION <ul><li>Management is the art of securing maximum results with the minimum of efforts so as to secure maximum prosperity and happiness for both the employer and the employees and give the public the best possible service. </li></ul><ul><li>Management is the art of getting things done through and with the people in formally organized groups. </li></ul><ul><li>- Harold, Koontz and O’Donnell </li></ul>
  2. 2. MANAGEMENT IN 3 SENSES <ul><li>Management as a Noun </li></ul><ul><li>- Group of Managerial persons </li></ul><ul><li>Management as a Process </li></ul><ul><li>- Planning, organizing, staffing, directing, controlling </li></ul><ul><li>Management as a Discipline </li></ul><ul><li>- Separate field of study </li></ul>
  3. 3. OBJECTIVES OF MANAGEMENT <ul><li>Protecting the owner’s interest. </li></ul><ul><li>Helpful in achieving the predetermined objectives. </li></ul><ul><li>Helpful in the development of labour force. </li></ul><ul><li>Getting maximum results through minimum efforts. </li></ul><ul><li>To increase the efficiency of the factors of production. </li></ul><ul><li>To maintain cordial relationship between Capital and Labour. </li></ul><ul><li>Maximum utilization of all the available resources . </li></ul>
  4. 4. NATURE/ CHARACTERISTICS OF MANAGEMENT <ul><li>Goal Oriented Process </li></ul><ul><li>It is all Pervasive </li></ul><ul><li>Multidimensional </li></ul><ul><li>Continuous Process </li></ul><ul><li>It is a Group Effort </li></ul><ul><li>Dynamic Function </li></ul>
  5. 5. Contd.. <ul><li>Intangible Force </li></ul><ul><li>Distinct Entity </li></ul><ul><li>It is a Process </li></ul><ul><li>It is an Inborn & Acquired Ability </li></ul><ul><li>It involves Social Responsibility </li></ul><ul><li>It is Multidisciplinary. </li></ul>
  6. 6. IMPORTANCE OF MANAGEMENT <ul><li>Reduce Costs </li></ul><ul><li>Establishes a sound organization </li></ul><ul><li>Maintains Equilibrium </li></ul><ul><li>Generation of employment </li></ul><ul><li>Essential for prosperity of an organization. </li></ul><ul><li>Management helps to overcome competition </li></ul>
  7. 7. Contd… <ul><li>Survival & growth of an organization </li></ul><ul><li>It shoulders social responsibilities </li></ul><ul><li>Management helps in research & investigation </li></ul><ul><li>Development of the nation. </li></ul>
  8. 8. Management & Administration <ul><li>3 views- </li></ul><ul><li>Administration is wider than management. </li></ul><ul><li>Management is wider than administration </li></ul><ul><li>Management and administration are same. </li></ul>
  9. 9. Administration is above management (American Concept) <ul><li>Supported by Oliver Sheldon, William Spriegal etc. </li></ul><ul><li>Administration is the function in the industry concerned with the determination of the corporate policy, the coordination of finance, production and distribution, the settlement of the compass of the organization under the ultimate control of the executive. </li></ul>
  10. 10. Relationship b/w Admin. & Mgt. as per American Concept. Top-level Functions Middle-Level Functions Lower-Level Functions BOD & G.M General Manager Supervisor Determining the Policy & object Adminis- tration Accomplishment Of Pre-determined objectives Management
  11. 11. Management is wider than Administration (The English Concept) <ul><li>Supported by, E.F.L. Brech, F.W. Taylor </li></ul><ul><li>Management is connected with top-level functions while administration is only a part of it which follows the policies decided by the management. </li></ul>
  12. 12. Relationship b/w Admin. & Mgt. as per English Concept Administrative Management Management Operative Management <ul><li>Policy Making </li></ul><ul><li>Planning </li></ul><ul><li>Laying down standard for work performance </li></ul><ul><li>Comparing determined objectives with actual achievements </li></ul><ul><li>Utilizing man, material, machine & money </li></ul><ul><li>Giving practical shape to policies </li></ul><ul><li>Directing daily activities </li></ul><ul><li>Making efforts to achieve results </li></ul>
  13. 13. Management and administration are same (The Modern Concept ) <ul><li>Supported by Henry Fayol. </li></ul><ul><li>Term Administration- used in Government organizations </li></ul><ul><li>Term Management is used in Business activities. </li></ul>
  14. 14. Relationship b/w Admin. & Mgt. as per Modern Concept Administrative functions Managerial Functions ORGANISATION Top Level Management Middle Level Management Lower Level Management
  15. 15. Distinction b/w Administration & Management <ul><li>Administration </li></ul><ul><li>Thinking Function </li></ul><ul><li>Top Level </li></ul><ul><li>Policy formulation and Objective determination </li></ul><ul><li>Broad and Conceptual </li></ul><ul><li>Factors affecting- Mostly external </li></ul><ul><li>Quality required- Administrative </li></ul><ul><li>Functions are performed by the owner of the enterprise </li></ul><ul><li>Management </li></ul><ul><li>Executive Function </li></ul><ul><li>Middle and lower level </li></ul><ul><li>Policy execution and objective achievement </li></ul><ul><li>Narrow and operational </li></ul><ul><li>Mostly internal </li></ul><ul><li>Technical </li></ul><ul><li>Performing managerial functions work as subordinates of administrators </li></ul>