MANAGEMENT SCIENCE
UNIT-I
INTRODUCTION TO MANAGEMENT

Definition:
“Management is knowing exactly what you want to do
and then seeing that they do it the best and cheapest ways”.
-F.W.Taylor
Nature of Management:
•Multidisciplinary
•Dynamic nature of principle
•Relative, not absolute principles
•Management - Science or Art
•Management as profession

Characteristics of Management:
•Management is Goal-Oriented:
•Management integrates Human, Physical and Financial Resources:
•Management is Continuous:
•Management is all Pervasive:
•Management is a Group Activity:

Importance of Management:
•Effective utilization of resources:
•Development of resources:
•To incorporate innovations:
•Integrating various interest groups:
•Stability in the society:

Levels of Management

Taylor’s Scientific Management:
Definition:
“Scientific management may be defined as the “Art
of knowing exactly what is to be done and the best way of
doing it”.
Principles of Scientific Management:
• Development of Science for each part of men’s job
(replacement of rule of thumb)
• Scientific Selection, Training & Development of Workers
• Co-operation between Management & workers or
Harmony not discord
• Division of Responsibility
• Mental Revolution
• Maximum Prosperity for Employer & Employees

Administrative Management Theory
Henry Fayol Principles
There are 14 Principles of Management described by Henry Fayol.
1. Division of work
2. Authority & Responsibility
3. Discipline
4. Unity of Command
5. Unity of Direction
6. Sub-Ordination of Individual Interest to General Interest
7. Remuneration
8. Centralization & De-Centralization
9. Scalar Chain
10. Order
11. Equity
12. Stability of Tenure
13. Initiative
14. Espirit De’ Corps (can be achieved through unity of command)

MOTIVATION
Maslow’s Hierarchy of Needs Theory

Theory X and Theory Y
Assumptions of Theory X
• Employees escape the work it whenever possible
• does not want to work
• does not have any aspiration/ambition
• Employees dislike responsibility
• Employees Resist Change
• Employees need formal direction
Assumptions of Theory Y
• Employees can perceive their job as relaxing and normal
• Employees can use self-direction and self-control
• Employees loyalty towards work
• Employees recognize the responsibility
• Employees have skills and capabilities

System Approach to the management :
Evaluation of System Approach:
Limitations of System Approach:

Herzberg’s Two-factors Theory :
Herzberg classified these job factors into two categories
a. Hygiene factors
•Pay
•Company Policies and administrative policies
•Fringe benefits
•Physical Working conditions
•Status
•Interpersonal relations
•Job Security

b) Motivational factors :
•Recognition
•Sense of achievement
•Growth and promotional opportunities
•Responsibility
•Meaningfulness of the work