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Module 1 pom

  1. 1. Principles of Management4th Year Semester - I
  2. 2. Principles Of Management Module No. 1
  3. 3. Module No. 1 – Historical development • Define Management • Science or Art • Management and Administration • Development of Management thoughts • Contribution of Taylor and Fayol • Functions of Management • Types of Business Organization • Business Ethics and Social Responsibility • Shift to Ethics and Tools of Ethics
  4. 4. Definition of Management• Management can be defined as a process of “ getting things done through the efforts of others”.• “Getting work done with least expenditure of time, money and efforts”
  5. 5. Orientation of Defining Management1. Production Oriented2. Decision Oriented3. People Oriented4. Function Oriented
  6. 6. Production Oriented Definition Taylor Defined “ Management is the art of knowing what you want to do and then seeing that it is done in the best and cheapest way”
  7. 7. Decision Oriented Definition “Management is simply the process of decision making and control over the action of human beings for the expressed purpose of attaining pre-determined goals.”
  8. 8. People Oriented Definition “Management is the accomplishment of results through the efforts of other people.”
  9. 9. Function Oriented Definition “Management is a process involving planning, organising, staffing, directing, and controlling human efforts to achieve stated objectives in an organisation.”
  10. 10. ManagementandAdministration
  11. 11. Approaches 1. Administration is above Management 2. Administration is a part of Management 3. Management and Administration is Same
  12. 12. Administration is Above Management TOP Administration (Policy Formulation)Organizational Level Management Lower (Policy Execution) Functions in Organization
  13. 13. Administration is Above Management SR Basis of Difference Administration Management No 1 Level in Organisation Top level Middle and Lower 2 Major Focus Policy Formulation Policy Execution 3 Nature of Functions Determinative Executive 4 Scope of Functions Broad and Narrow and Conceptual Operational 5 Factors affecting Mostly external Mostly Internal Decision 6 Qualities required Administrative Technical
  14. 14. Administration is a Part of management According to Brech Administration becomes a subordinate function to overall management functions. Administration is concerned with day-to-day function and is a part of management.
  15. 15. Management and Administration are same Most Popular and Practical approach Both involve the same functions, principles and objectives.
  16. 16. Management and Administration are same Board of Directors Presidents General ManagerWork Manager Foreman Management Functions
  17. 17. ManagementA Science or Art
  18. 18. Management as a Science1. Methods of Inquiry are systematic and empirical2. Information can be ordered and analyzed3. Results are cumulative and communicable.
  19. 19. Management as an Art1. How a particular work can be accomplished.2. Skill of applying principles3. Analyse situation and make decisions
  20. 20. Development ofManagement Thoughts
  21. 21. Evolution of Management1. Early Classical Approaches2. Neo-Classical Approaches3. Modern Approaches
  22. 22. Early Classical ApproachesA. Scientific Management –• Contributed by Frederick Taylor(1856-1915)• It has developed into a movement and dominated the industrial management
  23. 23. Early Classical ApproachesA. Scientific Management – Contribution• Time and Motion Study• Differential Payment• Drastic Reorganization of Supervision• Scientific Recruitment and Training• Intimate Friendly Cooperation between Management and Workers.
  24. 24. Early Classical ApproachesB. Administrative Management• Henri Fayol (1841-1925) considered as the Father of Administrative Management
  25. 25. Early Classical ApproachesB. Administrative Management1. Division of work2. Authority and Responsibility3. Discipline4. Unity of Command5. Unity of Direction6. Subordination of Individual Interest to General Interest.
  26. 26. Early Classical ApproachesB. Administrative Management7. Remuneration8. Centralisation9. Scalar Chain10. Order11. Equity12. Stability of Tenure of Personnel
  27. 27. Early Classical ApproachesB. Administrative Management13. Initiative14. Espirit De Corps
  28. 28. Early Classical ApproachesC. Bureaucracy• Leader Oriented• Tradition Oriented• Bureaucratic
  29. 29. Early Classical ApproachesC. Bureaucracy In Bureaucratic management, Delegation of management responsibility is based on the person‟s ability to hold the position.
  30. 30. Neo-Classical ApproachesA. The Human Relations Movement Experiments of HR are divided into 4 Parts1. illumination Experiment2. Relay Assembly Test Room3. Interviewing Programme
  31. 31. Neo-Classical ApproachesA. The Human Relations Movement4. Bank Wiring Test Room - Rate busters - Chisellers - Squealers
  32. 32. Neo-Classical ApproachesB. Behavioral Approach Recognizes the Practical and Situational constraint Self direction and control instead of imposed control. Study leadership
  33. 33. Modern ApproachesA. Quantitative ApproachB. Systems ApproachC. Contingency Approach
  34. 34. Quantitative Approach• Focus is on Decision making• It facilitates disciplined thinking• Tools and Techniques to be used.
  35. 35. System Approach1. A system is a set of Interdependent parts2. Central to the systems approach is the concept of „holism‟3. A system can be either open or closed4. Every System has a boundary
  36. 36. System Approach ENVIRONMENT Input of Output of Information Transformation of Energy Products(Materials, en (Ideas, services,ergy, Imports export) ENVIRONMENT ORGANISATION AS AN OPEN SYSTEM
  37. 37. Contingency Approach• Management principles have no general and universal applicability under all conditions.• Organisation need to be flexible and dynamic
  38. 38. Functions Of Management
  39. 39. Functions of Management1. Planning2. Organising3. Staffing4. Directing5. Controlling
  40. 40. Types of Business Organisation• Sole Proprietorship• Partnership• HUF• Co-Operative societies• Joint Stock Company
  41. 41. Sole Proprietorship• When an individual promotes, owns, finance, manages and controls a business, that type of business is known as sole traders or individual Proprietorship
  42. 42. Joint Hindu FamilyA form of business in which all members of a Hinduundivided family do business jointly under thecontrol of the head of the family who is known asthe „karta‟.Other partners of HUF are called Co – Parceners.
  43. 43. Partnership• A partnership is an association of two or more individuals who agrees to carry on a business together for the purpose of sharing profits.
  44. 44. Co-Operatives• A society which has its objects the promotion of the economic interests of its members in accordance with co-operative principles.• The principle are service and not profit, co-operation and not competition.
  45. 45. Joint Stock CompanyA Joint stock company is an artificial legalperson having an independent legal entityand joint capital divided into transferableshares of a fixed value.
  46. 46. Business Ethics & SocialResponsibility
  47. 47. Contents• Social Responsibility• Origin and Growth of the Concepts• Social Audit• Business Ethics
  48. 48. Social Responsibility• It Refers two types of business obligationsA. The Socio-Economic ObligationB. The Socio-Human Obligation
  49. 49. Origin and Growth of the ConceptA. Idea of a welfare StateB. The changing image of businessC. Changing attitude of Businessmen
  50. 50. Different views on Social Responsibility1. Communist View2. Capitalist View3. Pragmatic View4. Trusteeship View
  51. 51. Social Audit• A social audit is a systematic study and evaluation of the organizations social performance as distinguished from its economic performance.
  52. 52. Business Ethics• Business Ethics is the application of moral principles to business problems.
  53. 53. 4 Factors affecting Ethical decisions• Government Legislation• Business codes• Pressure Groups• Personal values of the Manager
  54. 54. Corporate Governance• It is used to denote the extent to which companies run in an open and honest manner in the best interest of all stake- holders.
  55. 55. THANK YOU!!!! 55