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basics of principles of management and economics

basics of principles of management and economics

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    Pme(lec 01) Pme(lec 01) Presentation Transcript

    • Lecture-01 Principles of Management and Economics RGIIIT, B.Tech (IT) 2 ND Semester Presented By MONARK BAG Lecturer Indian Institute of Information Technology, Allahabad 11/01/2012 Indian Institute of Information Technology, Allahabad
    • Learning Objectives
      • Define Managers And Management.
      • Explain What Managers Do.
      • Describe The Competencies Used In Managerial Work And Assess Your Current Competency Levels.
      11/01/2012 Indian Institute of Information Technology, Allahabad
    • Management: A Competency Base Approach 11/01/2012 Indian Institute of Information Technology, Allahabad
    • Introductory Concepts: What Are Managerial Competencies?
      • Competency – a combination of knowledge, skills, behaviors, and attitudes that contribute to personal effectiveness
      • Managerial Competencies – sets of knowledge, skill, behaviors, and attitudes that a person needs to be effective in a wide range of positions and various types of organizations
      11/01/2012 Indian Institute of Information Technology, Allahabad
    • Why are Managerial Competencies Important?
      • You need to use your strengths to do your best
      • You need to know your weaknesses
      • You need developmental experiences at work to become successful leaders and address your weakness
      • You probably like to be challenged with new learning opportunities
      • Organizations do not want to waste human resources
      • Globalization deregulation, restructuring, and new competitors add to the complexity of running a business
      11/01/2012 Indian Institute of Information Technology, Allahabad
    • A Model of Managerial Competencies Teamwork Competency Global Awareness Competency Strategic Action Competency Planning and Administration Competency Self-Management Competency Communication Competency 11/01/2012 Indian Institute of Information Technology, Allahabad
    • A Model of Managerial Competencies Teamwork Competency Global Awareness Competency Strategic Action Competency Planning and Administration Competency Self-Management Competency Communication Competency Managerial Effectiveness 11/01/2012 Indian Institute of Information Technology, Allahabad
    • What Is An Organization?
      • A formal and coordinated group of people who function to achieve particular goals
      • These goals cannot be achieved by individuals acting alone
      • An organization has a structure.
      11/01/2012 Indian Institute of Information Technology, Allahabad
    • Management Organization Two or more people who work together in a structured way to achieve a specific goal or set of goals. Goals Purpose that an organization strives to achieve; organizations often have more than one goals, goals are fundamental elements of organization. The Role of Management To guide the organizations towards goal accomplishment. 11/01/2012 Indian Institute of Information Technology, Allahabad
    • - People responsible for directing the efforts aimed at helping organizations achieve their goals. Manager - A person who plans, organizes, directs and controls the allocation of human, material, financial, and information resources in pursuit of the organization’s goals. 11/01/2012 Indian Institute of Information Technology, Allahabad
    • Management
      • Management refers to the tasks and activities involved in directing an organization or one of its units: planning, organizing, leading, and controlling.
      • The process of reaching organizational goals by working with and through people and other organizational resources.
      11/01/2012 Indian Institute of Information Technology, Allahabad
      • Functional Managers: A manager responsible for just one organizational activity such as accounting, human resources, sales, finance, marketing, or production
      • Focus on technical areas of expertise
      • Use communication, planning and administration, teamwork and self-management competencies to get work done
      • Function: A classification referring to a group of similar activities in an organization like marketing or operations.
      11/01/2012 Indian Institute of Information Technology, Allahabad
    • What are the Types of Managers?
      • General Managers: responsible for the operations of more complex units—for example, a company or division
      • Oversee work of functional managers
      • Responsible for all the activities of the unit
      • Need to acquire strategic and multicultural competencies to guide organization
      (cont’d)
      • Many Other types of managers
      11/01/2012 Indian Institute of Information Technology, Allahabad
    • Basic Managerial Functions 11/01/2012 Indian Institute of Information Technology, Allahabad Organizing Planning Controlling Leading
    • Management Process and Goal Attainment 11/01/2012 Indian Institute of Information Technology, Allahabad
    • Management and Organizational Resources 11/01/2012
        • Planning involves tasks that must be performed to attain organizational goals, outlining how the tasks must be performed, and indicating when they should be performed.
      Planning 11/01/2012 Indian Institute of Information Technology, Allahabad
    • Planning
      • Determining organizational goals and means to reach them
      • Managers plan for three reasons
      • Establish an overall direction for the organization’s future
      • Identify and commit resources to achieving goals
      • Decide which tasks must be done to reach those goals
      11/01/2012 Indian Institute of Information Technology, Allahabad
        • Organizing means assigning the planned tasks to various individuals or groups within the organization and cresting a mechanism to put plans into action .
      Organizing 11/01/2012 Indian Institute of Information Technology, Allahabad
    • Organizing
      • Process of deciding where decisions will be made, who will perform what jobs and tasks, and who will report to whom in the company
      • Includes creating departments and job descriptions
      11/01/2012 Indian Institute of Information Technology, Allahabad
        • Leading ( Influencing ) means guiding the activities of the organization members in appropriate directions. Objective is to improve productivity.
      Leading 11/01/2012 Indian Institute of Information Technology, Allahabad
    • Leading
      • Getting others to perform the necessary tasks by motivating them to achieve the organization’s goals
      • Crucial element in all functions
      11/01/2012 Indian Institute of Information Technology, Allahabad
          • 1. Gather information that measures recent performance
          • 2. Compare present performance to pre-established standards
          • 3. Determine modifications to meet pre-established standards
      Controlling 11/01/2012 Indian Institute of Information Technology, Allahabad
    • Controlling
      • Process by which a person, group, or organization consciously monitors performance and takes corrective action
      11/01/2012 Indian Institute of Information Technology, Allahabad
    • Basic Levels of Management Top Managers Middle Managers First-Line Managers Non managers 11/01/2012 Indian Institute of Information Technology, Allahabad
    • Levels of Management
      • First-line Managers: have direct responsibility for producing goods or services Foreman, supervisors, clerical supervisors
      • Middle Managers:
        • Coordinate employee activities
        • Determine which goods or services to provide
        • Decide how to market goods or services to customers
        • Assistant Manager, Manager (Section Head)
      • Top Managers: provide the overall direction of an organization Chief Executive Officer, President, Vice President
      11/01/2012 Indian Institute of Information Technology, Allahabad
    • First-line Managers
      • Directly responsible for production of goods or services
      • Employees who report to first-line managers do the organization’s work
      • Spend little time with top managers in large organizations
      • Technical expertise is important
      • Rely on planning and administration, self-management, teamwork, and communication competencies to get work done
      11/01/2012 Indian Institute of Information Technology, Allahabad
    • Middle Managers
      • Responsible for setting objectives that are consistent with top management’s goals and translating them into specific goals and plans for first-line managers to implement
      • Responsible for coordinating activities of first-line managers
      • Establish target dates for products/services to be delivered
      • Need to coordinate with others for resources
      • Ability to develop others is important
      • Rely on communication, teamwork, and planning and administration competencies to achieve goals
      11/01/2012 Indian Institute of Information Technology, Allahabad
    • Top Managers
      • Responsible for providing the overall direction of an organization
      • Develop goals and strategies for entire organization
      • Spend most of their time planning and leading
      • Communicate with key stakeholders—stockholders, unions, governmental agencies, etc., company policies
      • Use of multicultural and strategic action competencies to lead firm is crucial
      11/01/2012 Indian Institute of Information Technology, Allahabad
        • Management Level and Skills
      11/01/2012
    • Six Core Managerial Competencies: What It Takes to Be a Great Manager
      • Communication Competency
      • Planning and Administration Competency
      • Teamwork Competency
      • Strategic Action Competency
      • Multicultural Competency
      • Self-Management Competency
      11/01/2012 Indian Institute of Information Technology, Allahabad
    • Communication Competency
      • Ability to effectively transfer and exchange information that leads to understanding between yourself and others
      • Informal Communication
      • Used to build social networks and good interpersonal relations
      • Formal Communication
      • Used to announce major events/decisions/ activities and keep individuals up to date
      • Negotiation
      • Used to settle disputes, obtain resources, and exercise influence
      11/01/2012 Indian Institute of Information Technology, Allahabad
    • Planning and Administration Competency
      • Deciding what tasks need to be done, determining how they can be done, allocating resources to enable them to be done, and then monitoring progress to ensure that they are done
      • Information gathering, analysis, and problem solving from employees and customers
      • Planning and organizing projects with agreed upon completion dates
      • Time management
      • Budgeting and financial management
      11/01/2012 Indian Institute of Information Technology, Allahabad
    • Teamwork Competency
      • Accomplishing tasks through small groups of people who are collectively responsible and whose job requires coordination
      • Designing teams properly involves having people participate in setting goals
      • Creating a supportive team environment gets people committed to the team’s goals
      • Managing team dynamics involves settling conflicts, sharing team success, and assign tasks that use team members’ strengths
      11/01/2012 Indian Institute of Information Technology, Allahabad
    • Strategic Action Competency
      • Understanding the overall mission and values of the organization and ensuring that employees’ actions match with them
      • Understanding how departments or divisions of the organization are interrelated
      • Taking key strategic actions to position the firm for success, especially in relation to concern of stakeholders
      • Leapfrogging competitors
      11/01/2012 Indian Institute of Information Technology, Allahabad
    • Strategic Action Competency Snapshot “ Sony must sell off businesses that don’t fit its core strategy of fusing gadgets with films, music, and game software. That means selling off its businesses in its Sony Financial Holdings, which are very profitable.” Howard Stringer, CEO, Sony 11/01/2012 Indian Institute of Information Technology, Allahabad
    • Multicultural Competency
      • Understanding, appreciating and responding to diverse political, cultural, and economic issues across and within nations
      • Cultural knowledge and understanding of the events in at least a few other cultures
      • Cultural openness and sensitivity to how others think, act, and feel
      • Respectful of social etiquette variations
      • Accepting of language differences
      11/01/2012 Indian Institute of Information Technology, Allahabad
    • Self-Management Competency
      • Developing yourself and taking responsibility
      • Integrity and ethical conduct
      • Personal drive and resilience
      • Balancing work and life issues
      • Self-awareness and personal development activities
      11/01/2012 Indian Institute of Information Technology, Allahabad
    • Snapshot “ My strengths and weaknesses haven’t changed a lot in 51 years. The important thing is to recognize the things you don’t do well and build a team that reflects what you know the company needs.” Anne Mulcahy, CEO, Xerox Self-Management Competency 11/01/2012 Indian Institute of Information Technology, Allahabad
    • Learning Framework for Managing Part I: Overview of Management Part II: The Challenges of Management Part III: Planning and Control Part IV: Organizing Part V; Leading 11/01/2012 Indian Institute of Information Technology, Allahabad
    • Text Books
      • Management , Stoner et al(PHI)
      • Management- A global Perspective, Weihrich and Koontz(TMH)
      • Management: Text and cases , R.Satya Raju and A. Parthasarathi (PHI)
      • Fundamentals of Management , Robins and DeCenzo (PHI)
      • Management, Bartol and Martin(McGraw-Hill)
      11/01/2012 Indian Institute of Information Technology, Allahabad
    • 11/01/2012 Indian Institute of Information Technology, Allahabad