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  • 1. Management  Management is the process of designing and maintaining an environment in which individuals, working together in groups, efficiently accomplish selected aims.Present context  Corporate environment moved from a closed, planned economy into global, wired and turbulent economy  CEOs – Required to know domestic market , know the government, make short term plans , able to handle diversified businesses, implement the vision of the “BABU”  Harsh Mariwala – Chairman, MARICO : The Indian CEO is facing competition not from MNCs but from local CEOs.The job of CEO has become more complex  Tarun Das – CII : Industry needs CEOs who are technologically proficient, analytical and willing to face challenges head-on  AzimPremji – Not many indian CEOs have ‘ fire in the belly’Present context ( contd …)  AshwinDani, MD of Asian Paints – CEOs should have wide project implementation skills, international exposure, good communication skills  Kumaramangalam Birla, AV Birla Group – CEO should be friendly and flexible, but firm and decisive  CEO should be young and restless , but unemotional. He is a hands-on manager , but thinks long- term. He is a techie ,but people oriented. He is multi skilled , experienced and a visionary  If you deliver ,you are a target for competition. If you don’t , you are asked to leave. Either way , you go.What is “Management”?  Management as a noun  Management as a Process  Management as a group/ team  Management as a Discipline  Management as an activity
  • 2. Characteristics  Intangible  Goal oriented  Universal  A social process  A Group activity  A system of authority  Is an activity  Dynamic  Science ( Based on principles that can be generalised) as well as an Art ( application of knowledge to achieve results)  MultidisciplinaryScience and ArtScience ArtAdvances by knowledge Advances by practiceProves FeelsPredicts GuessesDefines DescribesMeasures OpinesImpresses ExpressesManagement as a “Profession”  Well defined body of knowledge  Formal education and training  Minimum qualification  Representative body  Service above self
  • 3.  Ethical code of conductFunctions of Management  The five managerial functions around which managerial knowledge are organized: planning, organizing, staffing, leading, controlling.External Environment  The external elements that affect operations can be grouped into:  – Economic factors  – Technological factors  – Social factors  – Ecological factors  – Political/legal factors  – Ethical factors Time Spent in Carrying Out Managerial Functions Managerial Skills The four skills required of administrators:  Technical skills  Human skills  Conceptual skills  Design skills Skills and Management Levels
  • 4. Goals of All Managers  The aim of all managers should be to create a surplus.  To establish an environment in which people can accomplish group goals with the least amount of time, money, materials, and personal dissatisfactionTop 10 companies in America’s Fortune list, 2010 1. Apple 2. Google 3. Berkshire Hathaway 4. Johnson & Johnson 5. Amazon.com 6. Procter & Gamble 7. Toyota Motor 8. Goldman Sachs 9. Wal-Mart 10. Coca-ColaAdaptations of companies to 21st Century  Take advantage of the new information technology—Internet  Embracing Globalization  Encouraging entrepreneurshipEntrepreneurship  Entrepreneurship is a creative process that is centered in the notion of identifying market opportunities and unmet needs. It is building solutions that meet these needs and bring value to customers
  • 5. Five Fast Growing Companies 2010  Google  Apple  Facebook  GE  IDEOProductivity  The output-input ratio within a time period with due consideration for quality.Effectiveness & Efficiency  Productivity implies effectiveness and efficiency in individual and organizational performance.  Effectiveness is the achievement of objectives.  Efficiency is the achievement of the ends with the least amount of resources (time, money, etc.).Managing: Science or Art?  Managing as a practice is an art; the organized knowledge underlying the practice may be referred to as a science.Mintzberg’sManagerial Roles Approach  3 interpersonal roles - Figurehead ,Leader , Liaison  3 informational roles - Monitor , Disseminator , Spokesperson  4 decision roles - Entrepreneur, Disturbance handler, Resource Allocator , Negotiator
  • 6. Evolution of Management Thought  Frederick Taylor and Scientific Management  Fayol, the Father of Modern Operational Management Theory  Elton Mayo’s Hawthorne Studies  Recent Contributors to Management Thought, includes Peter DruckerHawthorne Studies.  The improvement in productivity was due to social factors such as morale, satisfactory interrelationships between members of a work group (a "sense of belonging")  Effective management—a kind of managing that would understand human behavior.Recent Contributors to Management Thought  Peter F. Drucker  Keith Davis  W. Edwards Deming  Joseph M. Juran  Laurence Peter  William Ouchi  Thomas Peters and Robert WatermanPatterns of Management Analysis: A Management Theory Jungle? 1. The empirical or case approach 2. The managerial roles approach 3. The contingency or situational approach 4. The mathematical or management science approach 5. The decision theory approach
  • 7. 6. The reengineering approach 7. The systems approach 8. The socio technical systems approach 9. The cooperative social systems approach 10. The group behavior approach 11. The interpersonal behavior approach 12. McKinseys 7-S framework 13. The total quality management approach 14. The management process or operational, approachThe Management Process or Operational Approach
  • 8. Management Process or Operational Approach  This approach draws together the pertinent knowledge of management by relating it to the managerial job—what managers do.  It tries to integrate the concepts, principles, and techniques that underlie the task of managing.A Basic Input-Output Model
  • 9. The Five Managerial Functions  Planning :Selecting missions and objectives and the actions to achieve them, which requires decision making.  Organizing: involves establishing an intentional structure of roles for people to fill in an organization.  Staffing: involves filling, and keeping filled, the positions in the organization structure.  Leading: is influencing people so that they will contribute to organization and group goals.  Controlling : Controlling is measuring and correcting individual and organizational performance to ensure that events conform to plansKey concepts: 1. Management
  • 10. 2. Managerial functions3. Managerial skills in the organizational hierarchy4. The goal of all managers5. Characteristics of excellent and most admired companies6. Three major trends: Advances in technology, globalization, and entrepreneurship7. Productivity, effectiveness, and efficiency8. Managing: science or art?9. Managerial roles10. Major contributors to management thought11. Contributors to scientific management12. Fayol’s operational management theory13. Elton Mayo’s Hawthorne Studies14. Management theory jungle : Patterns of management analysis15. Management process, or operational approach16. Systems approach to the management process17. Five managerial functions