OBJECTIVES:-After this presentation you will be able to define – Management Nature of Management Scope of Management Functions Of Management Role Of Managers
About Stephen Covey : Birth- Stephen Covey, a great motivational author of 7 Habits of Highly Effective People born on 24th october, 1932 in Utah, USA.Education- He studied in the university of Utah and completed his Master Of Business administrator (MBA) from Havard University and he also completed his Doctorate degree from the Brigham young university.
Cont… Work- Covey worked as a professor of business management and organisational behaviour at Brigham University. Famous Book- 7 Habits Of Highly Effective People.
What isManagement? What is Management? There is no precise definition of management. Management has decision oriented definition, people oriented definition, function oriented definition and production or efficiency oriented etc. But in general we define the management as follow;“ Management is the process involving planning, organizing, staffing, directing and controlling human efforts to achieve stated objectives in an organization.”
Nature of Management : Nature of Management The study and application of management techniques in managing the affairs of the organization have changed its nature over the period of time . Various contributions to the field of management have changed its nature. Therefore the nature of management can be described as follow;MultidisciplinaryDynamic nature of principlesRelative, not absolute principlesManagement: Science or ArtManagement as ProfessionUniversality of Management .
Management as Disciplinary :Management as Disciplinary Management isbasically multidisciplinary. This implies that,although management has been developed as aseparate discipline, it draws knowledge andconcepts from various discipline. It draws freelyideas and concepts from psychology, sociology,anthropology, economics, ecology ect.Management integrates the ideas and conceptstaken from these disciplines and presents newerconcepts which can be put into practice formanaging the organization. In fact the integrationof knowledge of various discipline is the majorcontribution of management and this integrateddiscipline is known as management.
Dynamic Nature Of Principles : Dynamic Nature Of Principles Principle is a fundamental truth which establish causes and effect relationships of function. Management has framed certain principles on the basis of integration and supported by practical evidences. These principles are flexible in nature and with the changed in the environment in which an organization exists. Because of the continuous development in nthe field, many older principles are being changed by new Principles. In fact, there is nothing permanent in the landslide of management.
Relative, not absolute Principle :Relative, not absolute Principle Managementprinciples are relative, not absolute and they shouldbe applied according to the need of the organization.Each organization may be different from others. Thedifference may exits because of time, place, socio-culture factors ect. However individuals workingwithin the same organization may also differ. Thus aparticular management should be applied in the lightof prevailing conditions.
MANAGEMENT: SCIENCEOR ART :There is a controversy whether management is science or art.Management is both science and Art.Management as Science: Management as an art.Management: science and art both.
Cont… Universality of Management arguments for universality Management as a process Distinction between management fundamental and techniques. Distinction between management fundamental and practice Arguments against universality .
SCOPE OF MANAGEMENT :Production Management:(a) designing the product(b) location and layout of plant and building(c) planning and control of factory operations(d) operation of purchase and storage of materials(e) repairs and maintenance(f) inventory cost and quality control(g) research and development etc.
Marketing Management Marketing involves following activities(a) Marketing research to determine the needs and expectation of consumers(b) Planning and developing suitable products(c) Setting appropriate prices(d) Selecting the right channel of distribution, and(e) Promotional activities like advertising and salesmanship to communicate with the customers
Financial Management selecting the appropriate source of funds raising the required funds at the right time administration of earnings Estimating the volume of funds
Personnel Management Manpower planning Recruitments, Selection, Training Appraisal, Promotions and transfers, Compensation, Employee welfare services, and Personnel records and research, etc.
PlanningPlanning is the first function which isbasically a logical thinking process thatdecides what needs to be done in orderto achieve organizations goals andobjectives. It focuses on the broaderperspective of the business as well astaking into consideration, the tacticalmethods to get the desired results.
OrganizingOrganizing is about setting up andmaintaining the internalorganizational structure in accordancewith objectives mentioned in planningstage. It also involves assigning tasksto various individuals for the largergoal of organizations missions andobjectives.
Staffing Staffing is the process of choosing right people for organization. It can be associated with humanresource management and involves recruitment, hiring, training and compensating the workforce.
Directing Directing is guiding people in theorganization through the means of counseling, instructing, motivating
ControllingThe process of leading andinfluencing the task relatedactivities of group members or an entire organization .
Leader or Manager? Innovate Administer Develop Maintain Inspire Control Long-term view Short-term view Originate Imitate Challenge Status quo Accept status-quo