This document discusses definitions and concepts of management. It provides 4 definitions: 1) management as an art of getting things done through others, 2) management as a process consisting of planning, organizing, commanding, coordinating and controlling, 3) management as the art of getting things done through people in formally organized groups, and 4) management as a specialized field of study. It then discusses the nature of management as multi-disciplinary, with dynamic and relative principles. Management can be considered both a science and an art. Finally, it outlines characteristics of management such as the existence of objectives, its continuous nature, and being a social and decision-making process.
Management is the art of securing maximum results with a minimum of effort so as to secure maximum prosperity and happiness for both employer and employee and give the public the best possible service.
~John Mee
1) Administration involves organizing and directing resources to achieve goals. It includes planning, organizing, staffing, directing, coordinating, reporting, budgeting and evaluating.
2) The scope of nursing administration includes political, legislative, financial, defensive, educational, social, economic and foreign functions. It also involves standards of nursing practice and professional performance.
3) Nursing administration manages nursing personnel, patient care and facility resources through policies to ensure safe and cost-effective healthcare facility operations.
This document summarizes the major schools of management thought including classical, behavioral, and modern. The classical school focused on scientific management, bureaucracy, and administrative principles. Scientific management aimed to maximize efficiency through matching tasks to workers. Bureaucracy structured organizations hierarchically. Administrative management identified general management principles. The behavioral school emphasized the human element and how relationships impact productivity. The modern school integrates multiple theories and recognizes there is no universal approach, favoring contingency based on situational factors. Systems and contingency theories view organizations holistically and advocate different structures depending on the environment.
This document provides an overview of key management concepts and theories including: Taylor's scientific management theory, Fayol's principles of management, Mayo's Hawthorne experiments, Maslow's hierarchy of needs, McGregor's Theory X and Theory Y, Herzberg's two-factor theory, systems approach to management, leadership styles, and the social responsibilities of management. It defines management, discusses its nature and importance, and outlines common management functions proposed by various theorists.
Theories & models of Management in ppt use in ANP and Managementsonal patel
The document discusses various theories and models of nursing management. It covers classic organizational theory pioneers like Fayol and Weber who emphasized hierarchy, rules, and impersonal relationships. Human relations theorists like Follett and Lewin focused on meeting employee needs and involving them in planning. Behavioral science theory uses scientific methods to study human behavior in organizations. Modern theories include systems approaches that view organizations as unified systems and contingency approaches that emphasize fitting management styles to situations. Theories provide frameworks to understand, communicate about, and continually learn about the world.
1. The document discusses various management theories and concepts including classical, modern, and Japanese management techniques.
2. Key classical theories covered include scientific management, human relations school, and administrative management. Modern theories discussed include systems theory, contingency approach, and total quality management.
3. The document also provides an overview of characteristics of Japanese management techniques such as lifetime employment, seniority-based compensation, consensus decision-making, and quality circles.
The document outlines several theories of school management:
1. Classical theory emphasizes clear structure and division of labor from the industrial revolution.
2. Scientific theory focuses on efficiency and productivity using latest technology.
3. Bureaucratic theory as described by Max Weber involves standardized procedures and clear roles to ensure efficiency.
4. Human relations theory focuses on human motivation factors.
5. Contingency theory says the right approach depends on the situation.
6. System theory views the school as interconnected parts that must work together harmoniously.
This document outlines the objectives, expected outcomes, modules, and evaluation criteria for a course on Management Process & Organizational Behavior. The objectives are to provide an understanding of management tasks and functions, familiarize students with individual and group behavioral patterns in organizations, and enhance students' ability to predict and control human behavior. The course covers fundamentals of management, planning, organizing, controlling, and organizational behavior at individual, group and organizational levels. Students will learn management principles, decision making, structure, and dynamics of interaction between individuals and organizations. Evaluation includes exams, quizzes, assignments, and attendance requirements.
Management is the art of securing maximum results with a minimum of effort so as to secure maximum prosperity and happiness for both employer and employee and give the public the best possible service.
~John Mee
1) Administration involves organizing and directing resources to achieve goals. It includes planning, organizing, staffing, directing, coordinating, reporting, budgeting and evaluating.
2) The scope of nursing administration includes political, legislative, financial, defensive, educational, social, economic and foreign functions. It also involves standards of nursing practice and professional performance.
3) Nursing administration manages nursing personnel, patient care and facility resources through policies to ensure safe and cost-effective healthcare facility operations.
This document summarizes the major schools of management thought including classical, behavioral, and modern. The classical school focused on scientific management, bureaucracy, and administrative principles. Scientific management aimed to maximize efficiency through matching tasks to workers. Bureaucracy structured organizations hierarchically. Administrative management identified general management principles. The behavioral school emphasized the human element and how relationships impact productivity. The modern school integrates multiple theories and recognizes there is no universal approach, favoring contingency based on situational factors. Systems and contingency theories view organizations holistically and advocate different structures depending on the environment.
This document provides an overview of key management concepts and theories including: Taylor's scientific management theory, Fayol's principles of management, Mayo's Hawthorne experiments, Maslow's hierarchy of needs, McGregor's Theory X and Theory Y, Herzberg's two-factor theory, systems approach to management, leadership styles, and the social responsibilities of management. It defines management, discusses its nature and importance, and outlines common management functions proposed by various theorists.
Theories & models of Management in ppt use in ANP and Managementsonal patel
The document discusses various theories and models of nursing management. It covers classic organizational theory pioneers like Fayol and Weber who emphasized hierarchy, rules, and impersonal relationships. Human relations theorists like Follett and Lewin focused on meeting employee needs and involving them in planning. Behavioral science theory uses scientific methods to study human behavior in organizations. Modern theories include systems approaches that view organizations as unified systems and contingency approaches that emphasize fitting management styles to situations. Theories provide frameworks to understand, communicate about, and continually learn about the world.
1. The document discusses various management theories and concepts including classical, modern, and Japanese management techniques.
2. Key classical theories covered include scientific management, human relations school, and administrative management. Modern theories discussed include systems theory, contingency approach, and total quality management.
3. The document also provides an overview of characteristics of Japanese management techniques such as lifetime employment, seniority-based compensation, consensus decision-making, and quality circles.
The document outlines several theories of school management:
1. Classical theory emphasizes clear structure and division of labor from the industrial revolution.
2. Scientific theory focuses on efficiency and productivity using latest technology.
3. Bureaucratic theory as described by Max Weber involves standardized procedures and clear roles to ensure efficiency.
4. Human relations theory focuses on human motivation factors.
5. Contingency theory says the right approach depends on the situation.
6. System theory views the school as interconnected parts that must work together harmoniously.
This document outlines the objectives, expected outcomes, modules, and evaluation criteria for a course on Management Process & Organizational Behavior. The objectives are to provide an understanding of management tasks and functions, familiarize students with individual and group behavioral patterns in organizations, and enhance students' ability to predict and control human behavior. The course covers fundamentals of management, planning, organizing, controlling, and organizational behavior at individual, group and organizational levels. Students will learn management principles, decision making, structure, and dynamics of interaction between individuals and organizations. Evaluation includes exams, quizzes, assignments, and attendance requirements.
Classical & Neo classical theory of managementOliviaJustin
This document provides an overview of several management theories: classical theory, scientific management, administrative management, bureaucratic management, neo-classical theory, human relations theory, and behavioral science approach. It defines each theory, discusses their key contributors like Taylor, Fayol, and Mayo, and summarizes their main principles and concepts. The document traces the evolution of management thought from a focus on efficiency under classical theory to consideration of human factors in neo-classical, human relations, and behavioral theories.
The classical school of management thought includes scientific management, administrative management, and bureaucratic management. Scientific management focused on applying scientific principles to work to improve efficiency. Administrative management examined management as a process. Bureaucratic management proposed that a hierarchical bureaucracy would lead to more efficient organizations. The behavioral school later emerged and examined human behavior and relations in organizations. This included studies like the Hawthorne experiments, which found that social and psychological factors influenced productivity. The behavioral science movement further applied analytical tools to understand workplace behavior. Overall, these schools of thought have all contributed to modern management theory and practice.
The document discusses the historical evolution of management approaches from classical to modern theories. It covers classical approaches like scientific management which emphasized efficient work methods. Next it discusses administrative management which focused on managing the entire organization. The human relations movement highlighted the importance of human behavior and motivation, as shown through the Hawthorne Studies. Finally, behavioral science and quality management introduced a more holistic and contingency-based view of organizational management.
Theories & models of Management in ppt use in ANP and Managementsonal patel
This document discusses various theories and models of nursing management. It covers scientific management theory proposed by Taylor, classic organizational theory, human relations theory, and behavioral science theory. For each theory, it provides details on key contributors such as Taylor, Fayol, Follett, McGregor, and Maslow. It discusses concepts from each theory and provides implications for how nursing management can apply concepts from theories such as setting objectives, defining managerial tasks, emphasizing staff development, and fostering positive attitudes and participation. In conclusion, it states that cooperation, coordination, interpersonal relationships, and teamwork are keys to success for nursing management.
1. Henry Fayol was a pioneer in the study of management principles and functions. He identified five primary functions of management - planning, organizing, commanding, coordinating, and controlling.
2. Fayol also developed 14 principles of management to help managers, including division of work, authority and responsibility, discipline, unity of command, and subordination of individual interests.
3. Some of Fayol's key contributions to the administrative management approach include making a clear distinction between operating and managerial functions, and emphasizing the importance of concepts like unity of direction, order, equity, stability of tenure, and initiative.
The document discusses several theories of management including:
1) Scientific Management Theory proposed by Frederick Taylor which emphasized time-motion studies, piece-rate wages, division of labor, and functional foremanship.
2) Bureaucratic Theory proposed by Max Weber which advocated for hierarchies, rules, impersonality, and career advancement based on qualifications.
3) Administrative Management principles proposed by Henri Fayol including planning, organizing, commanding, coordinating, and controlling.
4) Human Relations Approach advocated by Mary Parker Follett and Elton Mayo which emphasized cooperation between employers and employees, job satisfaction, and team spirit.
This document provides an overview of classical and modern organization theory as applied to health care organizations. It discusses several theories of organization including scientific management, administrative management, behavioral, systems, and contingency theories. Scientific management theory focuses on standardization, time studies, and dividing work responsibilities. Administrative theory examines formal structure, rules, and principles of management. Behavioral theory emphasizes human factors like motivation, leadership, and group dynamics. Systems theory views organizations as goal-oriented systems, while contingency theory contends there is no single best way to manage and the approach must fit the situation. The theories provide frameworks for functions like management structures, performance evaluation, process standardization, and adapting to changing environments in health care.
1. The document discusses the evolution of management theories from early periods of management awakening during the Industrial Revolution to modern theories of scientific management proposed by Taylor and Fayol's principles of administrative management.
2. Taylor introduced the theory of scientific management which emphasized separating planning from execution of work and standardizing tasks through time and motion studies to maximize efficiency.
3. Fayol identified managerial activities and proposed 14 general principles of management including division of work, authority and responsibility, and unity of command.
This document provides an overview of the evolution of management theories from the early 1900s to recent times. It discusses four main approaches: scientific management, general administrative theories, organizational behavior/human relations, and quantitative approaches. It also summarizes the contributions of important theorists like Taylor, Fayol, Weber, Barnard, and Maslow. Recent decades have seen a movement toward integrating different theories and addressing new issues like diversity, ethics, innovation, and contingent workforces.
This document summarizes several theories and models of management, including classical, neoclassical, and modern approaches. The classical approach includes scientific management theories by Taylor and Gilbreth, as well as bureaucracy/organizational theories from Weber. Neoclassical theories incorporate human relations perspectives from Mayo and Barnard. Content theories of motivation are discussed, including those from Maslow, Herzberg, and McGregor.
The document discusses the evolution of management thought through different stages and theories over time. It covers the classical, neoclassical, and modern theories of management. The classical stage included Max Weber's bureaucratic model and Frederick Taylor's scientific management approach. Henry Fayol contributed the administrative management approach. The human relations movement emerged through the Hawthorne Studies of Elton Mayo. Modern theories include quantitative approaches using mathematics, systems approaches viewing organizations as systems, and contingency approaches tailoring management to situations.
The document discusses several key concepts in management:
1. It defines management as tactfully managing men, technology, teams, competencies, objectives, and resources to achieve results.
2. Several management theorists are discussed, including their definitions of management and contributions to the field.
3. The five universal management functions are identified as planning, organizing, coordinating, motivating, and controlling.
General management theory and practice-bttssanjayjha
This document provides an overview of a course on general management theory and practice. It includes:
1. An outline of the course contents which covers topics such as planning, organizing, staffing, directing, and controlling.
2. Descriptions of management definitions, principles, functions, levels, and skills. It discusses management as both an art and a science.
3. Details on management approaches like Fayol's principles of management and the roles and differences between managers and leaders.
4. Lists of managerial skills needed at different levels and the roles and functions of top, middle, and frontline managers.
This document discusses organizational theories and management concepts. It begins by defining key terms like management, organization, and theories. It then summarizes three classic organization theories: classical, neoclassical, and modern structural. It also outlines principles and approaches within each theory. The document discusses strengths and weaknesses of each theory. Finally, it explores levels of management, management functions, skills, and styles.
This document provides an overview of organizing theories. It defines key terms like organization and theory, and discusses the evolution of organizing theory from classical to modern approaches. The classical theories focused on efficiency and included scientific management, bureaucratic, and administrative approaches. Neoclassical theory emphasized human relations. Modern theories view the organization as an open system that adapts to its environment, including the systems approach, socio-technical theory, and contingency theory. The document categorizes and explains different organizing theories.
This document explains Henri Fayol's 14 principles of management which were developed in the early 1900s to help manage large organizations. The 14 principles address topics such as the division of labor, unity of command, authority and responsibility, remuneration, and esprit de corps. While developed over a century ago, many of these principles remain relevant to modern management practices.
Philosophies & approaches to management practiceslavnigam
Management involves coordinating resources to achieve goals effectively and efficiently. It is a process where managers create an environment for employees to achieve personal and organizational growth. The evolution of management thought progressed from ancient civilizations emphasizing division of labor, to scientific management in the industrial era focusing on standards and efficiency, to behavioral management recognizing human factors. The five major schools of management are classical, behavioral, quantitative, systems, and contingency approaches. The Hawthorne studies highlighted the importance of human relationships in organizations.
Management theories can be categorized into different groups such as motivation theories, scientific management theories, bureaucratic theories, and human relations theories. Motivation theories try to explain what motivates employee behavior and include theories such as Maslow's hierarchy of needs and Herzberg's hygiene theory. Scientific management theories focus on improving efficiency and include Taylor's principles of scientific management and Gantt charts. Bureaucratic theories emphasize hierarchy, rules, and standardization as represented by Weber's bureaucracy model. Human relations theories view employees as the source of productivity and include the work of Elton Mayo and William Ouchi's Theory Z.
Evolution of management theory,Scientific Management School
Classical Organization Theory school
Behavioral School
Management Science School
The System Approach
The Contingency Approach
Dynamic Engagement Approach
1. Management principles provide understanding and guidance for thinking and practice, though they should not be treated as rigid rules. They represent generalizations from experience.
2. Principles of management can never be stated as rigorously as principles of physical science because human behavior is more erratic. They are general ideas to guide sound action, not absolute truths.
3. Management principles help increase efficiency, crystallize the nature of management, improve management research, and attain social goals by bringing order and committing resources advantageously. They provide a foundation for efficient management.
Skymo Digiworld an SEO Company in Pune which provides Digital marketing services in India and develop E-commerce, Dynamic Websites for all type of business.
The document is a resume for Manjunath B.H. that summarizes his professional experience and qualifications. It highlights his over 13 years of experience in finance and accounting roles, including expertise in accounts receivables, accounts payables, cost analysis, and financial reporting. Recent roles include a Cost Accounting Analyst position at Hewlett Packard India and prior roles include Financial System Analyst and Financial Analyst positions at Hewlett-Packard Global e: Business.
Classical & Neo classical theory of managementOliviaJustin
This document provides an overview of several management theories: classical theory, scientific management, administrative management, bureaucratic management, neo-classical theory, human relations theory, and behavioral science approach. It defines each theory, discusses their key contributors like Taylor, Fayol, and Mayo, and summarizes their main principles and concepts. The document traces the evolution of management thought from a focus on efficiency under classical theory to consideration of human factors in neo-classical, human relations, and behavioral theories.
The classical school of management thought includes scientific management, administrative management, and bureaucratic management. Scientific management focused on applying scientific principles to work to improve efficiency. Administrative management examined management as a process. Bureaucratic management proposed that a hierarchical bureaucracy would lead to more efficient organizations. The behavioral school later emerged and examined human behavior and relations in organizations. This included studies like the Hawthorne experiments, which found that social and psychological factors influenced productivity. The behavioral science movement further applied analytical tools to understand workplace behavior. Overall, these schools of thought have all contributed to modern management theory and practice.
The document discusses the historical evolution of management approaches from classical to modern theories. It covers classical approaches like scientific management which emphasized efficient work methods. Next it discusses administrative management which focused on managing the entire organization. The human relations movement highlighted the importance of human behavior and motivation, as shown through the Hawthorne Studies. Finally, behavioral science and quality management introduced a more holistic and contingency-based view of organizational management.
Theories & models of Management in ppt use in ANP and Managementsonal patel
This document discusses various theories and models of nursing management. It covers scientific management theory proposed by Taylor, classic organizational theory, human relations theory, and behavioral science theory. For each theory, it provides details on key contributors such as Taylor, Fayol, Follett, McGregor, and Maslow. It discusses concepts from each theory and provides implications for how nursing management can apply concepts from theories such as setting objectives, defining managerial tasks, emphasizing staff development, and fostering positive attitudes and participation. In conclusion, it states that cooperation, coordination, interpersonal relationships, and teamwork are keys to success for nursing management.
1. Henry Fayol was a pioneer in the study of management principles and functions. He identified five primary functions of management - planning, organizing, commanding, coordinating, and controlling.
2. Fayol also developed 14 principles of management to help managers, including division of work, authority and responsibility, discipline, unity of command, and subordination of individual interests.
3. Some of Fayol's key contributions to the administrative management approach include making a clear distinction between operating and managerial functions, and emphasizing the importance of concepts like unity of direction, order, equity, stability of tenure, and initiative.
The document discusses several theories of management including:
1) Scientific Management Theory proposed by Frederick Taylor which emphasized time-motion studies, piece-rate wages, division of labor, and functional foremanship.
2) Bureaucratic Theory proposed by Max Weber which advocated for hierarchies, rules, impersonality, and career advancement based on qualifications.
3) Administrative Management principles proposed by Henri Fayol including planning, organizing, commanding, coordinating, and controlling.
4) Human Relations Approach advocated by Mary Parker Follett and Elton Mayo which emphasized cooperation between employers and employees, job satisfaction, and team spirit.
This document provides an overview of classical and modern organization theory as applied to health care organizations. It discusses several theories of organization including scientific management, administrative management, behavioral, systems, and contingency theories. Scientific management theory focuses on standardization, time studies, and dividing work responsibilities. Administrative theory examines formal structure, rules, and principles of management. Behavioral theory emphasizes human factors like motivation, leadership, and group dynamics. Systems theory views organizations as goal-oriented systems, while contingency theory contends there is no single best way to manage and the approach must fit the situation. The theories provide frameworks for functions like management structures, performance evaluation, process standardization, and adapting to changing environments in health care.
1. The document discusses the evolution of management theories from early periods of management awakening during the Industrial Revolution to modern theories of scientific management proposed by Taylor and Fayol's principles of administrative management.
2. Taylor introduced the theory of scientific management which emphasized separating planning from execution of work and standardizing tasks through time and motion studies to maximize efficiency.
3. Fayol identified managerial activities and proposed 14 general principles of management including division of work, authority and responsibility, and unity of command.
This document provides an overview of the evolution of management theories from the early 1900s to recent times. It discusses four main approaches: scientific management, general administrative theories, organizational behavior/human relations, and quantitative approaches. It also summarizes the contributions of important theorists like Taylor, Fayol, Weber, Barnard, and Maslow. Recent decades have seen a movement toward integrating different theories and addressing new issues like diversity, ethics, innovation, and contingent workforces.
This document summarizes several theories and models of management, including classical, neoclassical, and modern approaches. The classical approach includes scientific management theories by Taylor and Gilbreth, as well as bureaucracy/organizational theories from Weber. Neoclassical theories incorporate human relations perspectives from Mayo and Barnard. Content theories of motivation are discussed, including those from Maslow, Herzberg, and McGregor.
The document discusses the evolution of management thought through different stages and theories over time. It covers the classical, neoclassical, and modern theories of management. The classical stage included Max Weber's bureaucratic model and Frederick Taylor's scientific management approach. Henry Fayol contributed the administrative management approach. The human relations movement emerged through the Hawthorne Studies of Elton Mayo. Modern theories include quantitative approaches using mathematics, systems approaches viewing organizations as systems, and contingency approaches tailoring management to situations.
The document discusses several key concepts in management:
1. It defines management as tactfully managing men, technology, teams, competencies, objectives, and resources to achieve results.
2. Several management theorists are discussed, including their definitions of management and contributions to the field.
3. The five universal management functions are identified as planning, organizing, coordinating, motivating, and controlling.
General management theory and practice-bttssanjayjha
This document provides an overview of a course on general management theory and practice. It includes:
1. An outline of the course contents which covers topics such as planning, organizing, staffing, directing, and controlling.
2. Descriptions of management definitions, principles, functions, levels, and skills. It discusses management as both an art and a science.
3. Details on management approaches like Fayol's principles of management and the roles and differences between managers and leaders.
4. Lists of managerial skills needed at different levels and the roles and functions of top, middle, and frontline managers.
This document discusses organizational theories and management concepts. It begins by defining key terms like management, organization, and theories. It then summarizes three classic organization theories: classical, neoclassical, and modern structural. It also outlines principles and approaches within each theory. The document discusses strengths and weaknesses of each theory. Finally, it explores levels of management, management functions, skills, and styles.
This document provides an overview of organizing theories. It defines key terms like organization and theory, and discusses the evolution of organizing theory from classical to modern approaches. The classical theories focused on efficiency and included scientific management, bureaucratic, and administrative approaches. Neoclassical theory emphasized human relations. Modern theories view the organization as an open system that adapts to its environment, including the systems approach, socio-technical theory, and contingency theory. The document categorizes and explains different organizing theories.
This document explains Henri Fayol's 14 principles of management which were developed in the early 1900s to help manage large organizations. The 14 principles address topics such as the division of labor, unity of command, authority and responsibility, remuneration, and esprit de corps. While developed over a century ago, many of these principles remain relevant to modern management practices.
Philosophies & approaches to management practiceslavnigam
Management involves coordinating resources to achieve goals effectively and efficiently. It is a process where managers create an environment for employees to achieve personal and organizational growth. The evolution of management thought progressed from ancient civilizations emphasizing division of labor, to scientific management in the industrial era focusing on standards and efficiency, to behavioral management recognizing human factors. The five major schools of management are classical, behavioral, quantitative, systems, and contingency approaches. The Hawthorne studies highlighted the importance of human relationships in organizations.
Management theories can be categorized into different groups such as motivation theories, scientific management theories, bureaucratic theories, and human relations theories. Motivation theories try to explain what motivates employee behavior and include theories such as Maslow's hierarchy of needs and Herzberg's hygiene theory. Scientific management theories focus on improving efficiency and include Taylor's principles of scientific management and Gantt charts. Bureaucratic theories emphasize hierarchy, rules, and standardization as represented by Weber's bureaucracy model. Human relations theories view employees as the source of productivity and include the work of Elton Mayo and William Ouchi's Theory Z.
Evolution of management theory,Scientific Management School
Classical Organization Theory school
Behavioral School
Management Science School
The System Approach
The Contingency Approach
Dynamic Engagement Approach
1. Management principles provide understanding and guidance for thinking and practice, though they should not be treated as rigid rules. They represent generalizations from experience.
2. Principles of management can never be stated as rigorously as principles of physical science because human behavior is more erratic. They are general ideas to guide sound action, not absolute truths.
3. Management principles help increase efficiency, crystallize the nature of management, improve management research, and attain social goals by bringing order and committing resources advantageously. They provide a foundation for efficient management.
Skymo Digiworld an SEO Company in Pune which provides Digital marketing services in India and develop E-commerce, Dynamic Websites for all type of business.
The document is a resume for Manjunath B.H. that summarizes his professional experience and qualifications. It highlights his over 13 years of experience in finance and accounting roles, including expertise in accounts receivables, accounts payables, cost analysis, and financial reporting. Recent roles include a Cost Accounting Analyst position at Hewlett Packard India and prior roles include Financial System Analyst and Financial Analyst positions at Hewlett-Packard Global e: Business.
The document discusses various topics related to property management, including:
1) It outlines the five phases of property management: acquisition, implementation, stabilization, growth, and exit strategy.
2) It discusses the importance of performing strategic evaluations of target areas to analyze demographic and economic indicators before acquiring properties.
3) It provides an overview of common legal entities for real estate such as sole proprietorships, partnerships, corporations, and LLCs.
4) It discusses key financial metrics used to evaluate rental properties such as net operating income, capitalization rates, and cash-on-cash returns.
This document describes a Gladstone bed set made of prelam board in a chocco maple color. The set includes a bed measuring 1610mm x 2201mm x 1050mm, a cot measuring 500mm x 390mm x 500mm, a bed side table measuring 450mm x 420mm x 1800mm, and a dresser measuring 1350mm x 550mm x 1900mm. The set is delivered flat packed with assembly instructions and is available for delivery across India in less than 14 days.
How can a franchisee owner reverse declining sales?Trần Thủy
This document outlines a case study about declining sales at the Firehouse Subs franchise sandwich shop. It discusses the chain's history and expansion over 16 years to over 400 locations across 21 states. In 2008, the recession caused unexpected declining system-wide sales. Management is considering three options to reverse this: 1) Continue existing local marketing by franchisees; 2) Discount sandwich prices; 3) Launch a new marketing campaign. The document analyzes advantages and disadvantages of each option. It recommends option 3, launching a new marketing campaign advised by an experienced advertising company, as it has proved successful for other chains. It suggests Firehouse Subs' unique selling proposition should focus on its reputation for quality ingredients and special firefighting-themed
360 million people worldwide have disabling hearing loss. Hearing loss can cause social isolation and difficulties working. It is most prevalent in East Asia, affecting 22% of the population there. The main causes are ear infections, certain drugs, noise, and aging. Many people do not get help for hearing loss because of costs, lack of services, or stigma. Actions are needed for prevention, vaccination programs, children's programs, and noise protection worldwide.
The document provides announcements for various clubs, programs, and events happening at the school. It includes notices about an upcoming Girls Who Code club meeting, a Junior High Math club meeting, volunteering with a Special Olympics program, upcoming college visits, ACT prep classes, opportunities for community service hours by playing music, and voting for St. Louis homecoming candidates.
This document describes a shoe rack made of prelam board available in cherry, wenge, or beech colors. It measures 430mm wide, 250mm deep, 750mm tall and comes flat packed with assembly instructions. The shoe rack ships across India within 14 days.
This study generated a transgenic knockin mouse model expressing the Pro32Pro33 variant of the integrin β3 subunit. Compared to wild-type mice, Pro32Pro33 mice showed decreased bleeding and clotting times, increased thrombosis risk, and enhanced platelet adhesion and spreading through increased integrin αIIbβ3 function. Under unstimulated conditions, Pro32Pro33 mice had elevated Src phosphorylation and talin interactions with the β3 cytoplasmic domain, priming the integrin for activation. Acute treatment with a Src inhibitor rescued the clotting phenotype in Pro32Pro33 mice to wild-type levels. These findings establish that the Pro32Pro33 variant modifies integrin αIIbβ3
The document discusses the definition, nature, and characteristics of management. It provides multiple definitions of management from different perspectives. While management draws from various disciplines, it is regarded as both a science and an art. As a science, management involves systematic processes and principles, but as an applied discipline it also requires creativity, problem-solving skills, and the ability to get things done through people, which are characteristics of an art. The document also examines whether management can be considered a true profession, noting that while it satisfies some criteria of a profession, it does not fully meet all requirements such as a universally accepted system of training and ethical codes.
This document provides an introduction to management, including definitions of management, the nature and importance of management, and the functions and levels of management. Some key points:
- Management involves planning, organizing, staffing, directing, and controlling organizational resources and activities to achieve goals. It is the process of working with and through people.
- Management principles have both universal and situational aspects and are drawn from various disciplines like psychology, economics, and statistics. Management can be considered both an art and a science.
- The importance of management includes effective resource utilization, development of resources, ensuring organizational continuity, and integrating various stakeholder groups.
- Managers at different levels perform different functions, with top managers
Management and Organisational Behaviour.docxveena755113
This document provides information on the course "Management and Organizational Behaviour" for MBA students. It includes the course aim, learning outcomes, unit topics, and references. The course aim is to understand fundamentals of management and organizational behaviour dynamics. Key topics covered include management theories, planning and organizing, leadership and motivation theories, and group behaviour. The document defines management and its principles, functions, and levels. Classical management theories like scientific management and bureaucratic theory are also summarized.
Management involves coordinating human, physical, and financial resources to achieve organizational goals. It is a universal process that directs group efforts. Management integrates these resources and creates an environment where people can work efficiently. It aims to do tasks appropriately and efficiently using minimum resources. Management is goal-oriented, continuous, and requires integrating different resources. It is both a science, with principles and theories, and an art, requiring skill and discretion in application.
Management education is aimed at developing students into managers who can think ahead, exercise good judgment, make ethical decisions, and consider the implications of their proposed actions.
This document provides an overview of management concepts and principles. It discusses management as an art, process, discipline, science, and emerging profession. It defines management and describes its nature, objectives, importance, levels, and functions. It distinguishes management from administration. It also outlines management skills and the roles and responsibilities of managers at different levels.
Concept of management (UGC NET Commerce & Management)UmakantAnnand
Management can be considered both an art and a science. As an art, management requires practical experience and the ability to adapt to changing situations creatively. As a science, management involves systematic principles and processes that can be studied, tested, and taught.
Planning is the first function of management and involves determining goals and actions to achieve those goals. The planning process includes analyzing internal and external environments, determining objectives and strategies, forecasting, evaluating alternatives, and establishing action plans. Setting clear objectives is important for planning so that efforts can be directed towards desired results.
Key managerial functions beyond planning include organizing, staffing, directing, motivating, and controlling. These functions work together as part of the management process
Introduction to Management: Concept of Management, Importance & Nature of Management, Management as profession, professionalization of management in India.
UNIT - I: OVERVIEW OF MANAGEMENT: Concept – Definition; Nature - Process and
Significance of Management; Managerial Roles (Mintzberg) - Trends and challenges of
Management in Global Scenario; An Overview of Functional areas of Management –
Marketing – Finance – Production – HRM – IT and R&D.
Management involves coordinating human, material, and financial resources to achieve organizational goals. It is a universal process needed wherever coordinated human activity occurs. Management functions include planning, organizing, staffing, directing, and controlling. It has aspects of both a science and an art. As a science, management principles can be universally applied and tested. As an art, management requires practical skills and creativity in applying principles to diverse situations. Early management theorists like Taylor, Fayol, and Mayo contributed important principles still used today to increase efficiency and incorporate the human element. Effective management is key to an organization's success.
This document discusses the definition and characteristics of management. It defines management as the process of coordinating work activities to achieve organizational goals through planning, organizing, leading, and controlling resources, with a focus on integrating human resources. Some key characteristics of management mentioned are that it is goal-oriented, involves authority and coordination, and deals with both technical and human aspects of an organization. The document also discusses whether management is an art, science, or both - concluding that while management has systematic principles, it also requires flexible application since it involves unpredictable human behavior.
FUNDAMENTALS OF MANAGEMENT ON ACCOUNTING - IFM2.pptxcharichamakori
Management involves planning, organizing, staffing, directing and controlling organizational resources to achieve goals. It is a universal process that occurs at multiple levels within organizations. Top-level managers focus on long-term strategy, middle managers implement plans tactically, and front-line managers oversee daily operations. Effective management requires both a scientific approach using data and a creative art involving communication and problem-solving skills. It is a professional discipline involving specialized knowledge acquired through formal education and training.
This document provides an overview of management as a discipline, process, and career. It discusses several key concepts in management theory including:
1. Classical and behavioral approaches to management that focus on organizational structure and human behavior respectively.
2. The management functions of planning, organizing, leading, and controlling and how they are interrelated.
3. Influential early theorists like Taylor, Fayol, and Weber who contributed principles of scientific management and bureaucracy.
4. The goal of management education to teach students how to apply theory to solve challenges and make effective decisions.
"Essentials of Management" is a foundational subject that is commonly taught in various business-related degree programs such as BCom (Bachelor of Commerce), BBA (Bachelor of Business Administration), MBA (Master of Business Administration), and BCom (Honours) programs. This subject provides students with a comprehensive understanding of the fundamental principles, concepts, and practices of management in the context of business and organizational settings. The subject covers a wide range of topics related to planning, organizing, leading, and controlling various resources to achieve organizational goals effectively and efficiently. Here is a general overview of the topics covered under the subject:
Introduction to Management:
Definition of management and its significance.
Evolution of management theories and practices.
Role of managers in organizations.
Functions of Management:
Planning: Setting goals, objectives, and strategies for achieving them.
Organizing: Structuring resources and tasks to achieve goals.
Leading: Motivating, influencing, and guiding employees to work towards goals.
Controlling: Monitoring progress, measuring performance, and taking corrective actions.
Types of Management:
Strategic Management: Long-term planning and decision-making at the top level.
Tactical Management: Implementing strategies at the middle level for specific units or departments.
Operational Management: Day-to-day activities and processes to achieve operational efficiency.
Organizational Structure:
Different types of organizational structures (functional, divisional, matrix, etc.).
The concept of chain of command and delegation of authority.
Decision-Making:
The decision-making process and various models.
Factors influencing decision-making.
Leadership and Motivation:
Different leadership styles and their impact on teams.
Theories of motivation and their application in the workplace.
Communication:
Importance of effective communication in management.
Different communication channels and barriers.
Team Management:
Building and managing effective teams.
Conflict resolution and team dynamics.
Human Resource Management:
Recruitment, selection, training, and performance evaluation of employees.
Employee development and retention strategies.
Ethics and Social Responsibility:
Business ethics and ethical decision-making.
Role of businesses in society and corporate social responsibility.
Change Management:
Managing organizational change and resistance to change.
Techniques for successful change implementation.
Globalization and Diversity:
Managing in a global context.
Dealing with cultural diversity and cross-cultural communication.
The depth and emphasis on each of these topics may vary depending on the level of the program (BCom, BBA, MBA, BCom Honours) and the specific curriculum of the institution. Overall, the subject "Essentials of Management" provides students with a solid foundation in the principles and practices of effective management.
This document discusses several topics related to organizational behavior. It begins by examining the significance of organizational behavior, noting its focus on understanding employee behavior to improve organizational effectiveness.
It then examines reasons for group formation, including personal characteristics, opportunity for interaction, common interests/goals, and the influence/power of groups.
Next, it critically examines McGregor's Theory X and Theory Y of human motivation, contrasting their assumptions about internal motivation, attitudes towards work, control/authority, and leadership styles.
It concludes by defining organizational change as a strategy to improve administrative, social, and technical management in response to environmental changes. It also discusses the concept of organization development, which incorporates changes through management development/training
This document provides an overview of various management theories and approaches. It begins by defining management and outlining its key characteristics. It then describes several classic theories of management, including:
1) Administrative Theory, which focuses on standardization and hierarchy
2) Bureaucratic Theory, which emphasizes clear rules and roles
3) Scientific Management, which aims to optimize efficiency
It also covers more modern theories like Contingency Management, which states there is no single best approach and the approach must fit the situation. Overall, the document surveys the development of management theories over time.
Principles of management is a broad and general guideline for managerial decision-making and behavior of employees towards the organization.
At the most fundamental level, management is a discipline that consists of a set of five general functions: planning, organizing, staffing, leading, and controlling.
This document discusses the nature and principles of management. It defines management as the process of achieving organizational goals through planning, organizing, leading, and controlling resources effectively and efficiently. The document outlines different styles of management that have been used over time, including scientific management and human relations approaches. It also discusses the roles and types of managers, describing managers as those who carry out the key functions of planning, organizing, staffing, leading, and controlling. Top, middle, and first-level managers are compared based on their relative responsibilities and time spent on different management tasks.
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তাই একজন নাগরিক হিসাবে এই তথ্য গুলো আপনার জানা প্রয়োজন ...।
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This document provides an overview of wound healing, its functions, stages, mechanisms, factors affecting it, and complications.
A wound is a break in the integrity of the skin or tissues, which may be associated with disruption of the structure and function.
Healing is the body’s response to injury in an attempt to restore normal structure and functions.
Healing can occur in two ways: Regeneration and Repair
There are 4 phases of wound healing: hemostasis, inflammation, proliferation, and remodeling. This document also describes the mechanism of wound healing. Factors that affect healing include infection, uncontrolled diabetes, poor nutrition, age, anemia, the presence of foreign bodies, etc.
Complications of wound healing like infection, hyperpigmentation of scar, contractures, and keloid formation.
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This presentation was provided by Steph Pollock of The American Psychological Association’s Journals Program, and Damita Snow, of The American Society of Civil Engineers (ASCE), for the initial session of NISO's 2024 Training Series "DEIA in the Scholarly Landscape." Session One: 'Setting Expectations: a DEIA Primer,' was held June 6, 2024.
A review of the growth of the Israel Genealogy Research Association Database Collection for the last 12 months. Our collection is now passed the 3 million mark and still growing. See which archives have contributed the most. See the different types of records we have, and which years have had records added. You can also see what we have for the future.
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1. Management Concepts and Business Ethics
Chapter 1
Management
Management is universal in nature as every organisation requires making of decisions, procurement of
resources, coordination of activities leading of people, and evaluation of performance directed towards
its objectives. This note summarises the essential concepts and techniques of management.
DEFINITION OF MANAGEMENT
In management literature, we find a large number of definitions of management given by different
writers who have different orientation. Various definitions can broadly classify as follows.
1. Management as an art of getting things done.
2. Management as a process.
3. Management as a group of managers.
4. Management as a discipline.
1. Mary Parker Follett defined management as “the art of getting things done through others” this
definition emphasis that the managers achieve organisational objective by getting work from others
and not performing the task themselves. The above definition represents the traditional view of
management under which the workers are treated as a factor of production only.
2. According to Henri Fayol, “to mange is to forecast and plan, to organise to command, to coordinate,
and to control.” Thus Fayol viewed management as a process consisting of five function viz., Planning,
organising, commanding, coordinating and controlling. Management is the process of effective
utilisation of human and material resources to achieve enterprise objective.
3. Harold Koontz defines management in a very simple form where he states that ―Management is the
art of getting things done through and with the people in formally organized groups .‖
4. Management has emerged as field of study or a specialised branch of knowledge which is thought in
various business schools, institution and universities.
NATURE OF MANAGEMENT
The study and application of Management techniques in managing the affairs of the organization have
changed it‘s nature over the period of time. The nature of Management can be described as;
• Multi disciplinary: - Management integrates the ideas and concepts taken from disciplines such
as psychology, sociology, anthropology, economics, ecology, statistics, operation research,
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2. history etc. and presents newer concepts which can be put in practice for managing the
organizations. Contributions to the field of management can be expected from any discipline
which deals with some aspects of human beings.
• Dynamic Nature of Principles: - Principles are a fundamental truth which establish cause and
effect relationship of a function. Based on practical evidences, management has framed certain
principles, but these principles are flexible in nature and change with the changes in the
environment in which an organization exists. In the field of Management, organization
researches are being carried on to establish principles in changing society and no principles can
be regarded as a final truth.
• Relative, Not Absolute Principles: - Management Principles are relative, not absolute and they
should be applied according to the need of the organization. Each organization may be
different from others. The difference may exist because of time, place, socio-cultural factors
etc. A particular management Principles has different strength in different conditions and
therefore Principles of Management should be applied in the light of the prevailing conditions.
• Management, science or Art: - Science is based on logical consistency, systematic explanation,
critical evaluation and experimental analysis. It is a systematized body of knowledge.
Management, being a social science may be called as an inexact or pseudo science. The
meaning of art is related with the bringing of desired result through the application of skills. It
has to do with applying of knowledge or science or of expertness in performance. Management
can be considered as an art and a better manager is one who knows how to apply the
knowledge in solving a particular problem.
• Management as a Profession: - The word profession may perhaps be defined as an occupation
based upon specialized intellectual study and training, the purpose of which is to supply skilled
service or advice to others for a definite fee or salary. Profession is an occupation for which
specialized knowledge, skills and training are required and the use of these skills is not meant
for self satisfaction, but these are used for the larger interests of the society and the success of
these skills is measured not in terms of money alone. Management possess certain
characteristics of profession, while others are missing. Therefore, it cannot be said to be a
profession, though it is emerging as a profession and the move is towards management as a
profession.
• Universality of Management
There are arguments in favour and against the concept of universality. The arguments in favour of
universality are:-
[a] Management as a process and the various process of management are universal for all
organizations
[b] Distinction between management fundamentals and techniques
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3. [c] Distinction between management fundamentals and practices.
The arguments against universality are:-
[a]management is culture bound
[b]management depends upon the objectives of an enterprise
[c]management depends upon the differences in philosophies of organization
• Intangible: - Management is intangible it cannot be seen with the eyes or touched.
CHARACTERISTICS OF MANAGEMENT
1. Existence of Objectives: The existence of objectives is a basic criterion of every human
organization. The organizational objectives are the desired state of affairs which an
organization attempts to realize. This realization of objectives is sought through the
coordinated efforts of the people constituting an organization.
2. Management is Continuous: Management is an ongoing process. It involves continuous
handling of problems and issues. It is concerned with identifying the problem and taking
appropriate steps to solve it. For achieving this target various policies have to be framed but
this is not the end. Marketing and Advertising is also to be done. For this policies have to be
again framed. Hence this is an ongoing process.
3. Management is all Pervasive: Management is required in all types of organizations whether it
is political, social, cultural or business because it helps and directs various efforts towards a
definite purpose. Thus clubs, hospitals, political parties, colleges, hospitals, business firms all
require management. Whenever more than one person is engaged in working for a common
goal, management is necessary. Whether it is a small business firm which may be engaged in
trading or a large firm like Tata Iron & Steel, management is required everywhere irrespective
of size or type of activity.
4. Decision-making: Management process involves decision making at all levels. Decision-
making describes the process by which a course of action is selected as the way to deal
with a specific problem. If there is only one alternative, the question of decision making
does not arise. The quality of alternatives which a manger selects determines the
organization’s performance, and the future of the organization.
5. It is a process: Management is a process of planning, organising, co- ordinating, and
controlling the activities of people working in a group to achieve the organisational
objectives.
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4. 6. It is a Social Process: Management is concerned with getting things done through the
effort of other people. in other words the manager’s job is getting things done through
people. So it is a social process.
Management as a Science
Science is a systematic body of knowledge pertaining to a specific field of study that contains
general facts which explains a phenomenon. It establishes cause and effect relationship between two
or more variables and underlines the principles governing their relationship. These principles are
developed through scientific method of observation and verification through testing.
Science is characterized by following main features:
1. Universally acceptance principles – Scientific principles represents basic truth about a particular
field of enquiry. These principles may be applied in all situations, at all time & at all places. E.g. –
law of gravitation which can be applied in all countries irrespective of the time.
Management also contains some fundamental principles which can be applied universally like the
Principle of Unity of Command i.e. one man, one boss. This principle is applicable to all type of
organization – business or non business.
2. Experimentation & Observation – Scientific principles are derived through scientific
investigation & researching i.e. they are based on logic. E.g. the principle that earth goes round the
sun has been scientifically proved. Management principles are also based on scientific enquiry &
observation and not only on the opinion of Henry Fayol. They have been developed through
experiments & practical experiences of large no. of managers. E.g. it is observed that fair
remuneration to personal helps in creating a satisfied work force.
3. Cause & Effect Relationship – Principles of science lay down cause and effect relationship
between various variables. E.g. when metals are heated, they are expanded. The cause is heating &
result is expansion. The same is true for management; therefore it also establishes cause and effect
relationship. E.g. lack of parity (balance) between authority & responsibility will lead to
ineffectiveness. If you know the cause i.e. lack of balance, the effect can be ascertained easily i.e. in
effectiveness. Similarly if workers are given bonuses, fair wages they will work hard but when not
treated in fair and just manner, reduces productivity of organization.
4. Test of Validity & Predictability – Validity of scientific principles can be tested at any time or
any number of times i.e. they stand the test of time. Each time these tests will give same result.
Moreover future events can be predicted with reasonable accuracy by using scientific principles.
E.g. H2 & O2 will always give H2O. Principles of management can also be tested for validity.
E.g. principle of unity of command can be tested by comparing two persons – one having single
boss and one having 2 bosses.
It cannot be denied that management has a systematic body of knowledge but it is not as exact as
that of other physical sciences like biology, physics, and chemistry etc. The main reason for the
inexactness of science of management is that it deals with human beings and it is very difficult to
predict their behaviour accurately. Since it is a social process, therefore it falls in the area of social
sciences. It is a flexible science & that is why its theories and principles may produce different
results at different times and therefore it is a behaviour science. Ernest Dale has called it as a Soft
Science.
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5. Management as an Art
Art implies application of knowledge & skill to trying about desired results. An art may be defined
as personalized application of general theoretical principles for achieving best possible results. Art
has the following characters –
Practical Knowledge: Every art requires practical knowledge therefore learning of theory is
not sufficient. It is very important to know practical application of theoretical principles. E.g.
to become a good painter, the person may not only be knowing different colour and brushes
but different designs, dimensions, situations etc to use them appropriately. A manager can
never be successful just by obtaining degree or diploma in management; he must have also
known how to apply various principles in real situations by functioning in capacity of
manager.
Personal Skill: Although theoretical base may be same for every artist, but each one has his
own style and approach towards his job. That is why the level of success and quality of
performance differs from one person to another. E.g. there are several qualified painters
but M.F. Hussain is recognized for his style. Similarly management as an art is also
personalized. Every manager has his own way of managing things based on his
knowledge, experience and personality, that is why some managers are known as good
managers (like Aditya Birla, Rahul Bajaj) whereas others as bad.
Creativity: Every artist has an element of creativity in line. That is why he aims at
producing something that has never existed before which requires combination of
intelligence & imagination. Management is also creative in nature like any other art. It
combines human and non-human resources in useful way so as to achieve desired results. It
tries to produce sweet music by combining chords in an efficient manner.
Perfection through practice: Practice makes a man perfect. Every artist becomes more and
more proficient through constant practice. Similarly managers learn through an art of trial
and error initially but application of management principles over the years makes them
perfect in the job of managing.
Goal-Oriented: Every art is result oriented as it seeks to achieve concrete results. In the
same manner, management is also directed towards accomplishment of pre-determined
goals. Managers use various resources like men, money, material, machinery & methods to
promote growth of an organization.
Thus, we can say that management is an art therefore it requires application of certain principles
rather it is an art of highest order because it deals with moulding the attitude and behaviour of
people at work towards desired goals.
Management as both Science and Art
Management is both an art and a science. The above mentioned points clearly reveal that
management combines features of both science as well as art. It is considered as a science because it
has an organized body of knowledge which contains certain universal truth. It is called an art
5
6. because managing requires certain skills which are personal possessions of managers. Science
provides the knowledge & art deals with the application of knowledge and skills. A manager to be
successful in his profession must acquire the knowledge of science & the art of applying it.
Therefore management is a judicious blend of science as well as an art because it proves the
principles and the way these principles are applied is a matter of art. Science teaches to ’know’ and
art teaches to ’do’. E.g. a person cannot become a good singer unless he has knowledge about
various ragas & he also applies his personal skill in the art of singing. Same way it is not sufficient
for manager to first know the principles but he must also apply them in solving various managerial
problems that is why, science and art are not mutually exclusive but they are complementary to each
other (like tea and biscuit, bread and butter etc.).The old saying that “Manager are Born” has been
rejected in favour of “Managers are Made”. It has been aptly remarked that management is the
oldest of art and youngest of science. To conclude, we can say that science is the root and art is the
fruit.
Management as a Profession
It is unresolved issue – whether management is a profession or not. A profession possesses certain
attributes or characteristics they are;
There must be an organised and systemized body of knowledge, principles and technique.
The knowledge is acquired through education and training.
There must be a professional body required to regulate the behaviour of the members of the
profession. E.g. Indian Medical Association work as professional body for medical
professionals.
Entry into a profession is restricted by the standard established by a professional body.
Prevalence of the ethical standards to guide the activities of the members of the profession.
Service to the society should receive priority over economic consideration.
Importance of Management
1. It helps in Achieving Group Goals – It arranges the factors of production, assembles
and organizes the resources, integrates the resources in effective manner to achieve
goals. It directs group efforts towards achievement of pre-determined goals. By defining
objective of organization clearly there would be no wastage of time, money and effort.
Management converts disorganized resources of men, machines, money etc. into useful
enterprise. These resources are coordinated, directed and controlled in such a manner
that enterprise work towards attainment of goals.
2. Optimum Utilization of Resources – Management utilizes all the physical & human
resources productively. This leads to efficacy in management. Management provides
maximum utilization of scarce resources by selecting its best possible alternate use in
industry from out of various uses. It makes use of experts, professional and these
services leads to use of their skills, knowledge, and proper utilization and avoids
wastage. If employees and machines are producing its maximum there is no under
employment of any resources.
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7. 3. Reduces Costs – It gets maximum results through minimum input by proper planning
and by using minimum input & getting maximum output. Management uses physical,
human and financial resources in such a manner which results in best combination. This
helps in cost reduction.
4. Essentials for Prosperity of Society – Efficient management leads to better economical
production which helps in turn to increase the welfare of people. Good management
makes a difficult task easier by avoiding wastage of scarce resource. It improves
standard of living. It increases the profit which is beneficial to business and society will
get maximum output at minimum cost by creating employment opportunities which
generate income in hands. Organization comes with new products and researches
beneficial for society.
5. Maximum Prosperity for Employer & Employees – Management ensures smooth and
coordinated functioning of the enterprise. This in turn helps in providing maximum
benefits to the employee in the shape of good working condition, suitable wage system,
incentive plans on the one hand and higher profits to the employer on the other hand.
6. Establishes Sound Organization – No overlapping of efforts (smooth and coordinated
functions). To establish sound organizational structure is one of the objective of
management which is in tune with objective of organization and for fulfilment of this, it
establishes effective authority & responsibility relationship i.e. who is accountable to
whom, who can give instructions to whom, who are superiors & who are subordinates.
Management fills up various positions with right persons, having right skills, training
and qualification. All jobs should be cleared to everyone.
Level of management
Level of management refers to the categories or layers of managerial positions in an
organization. The level of management determines the amount of authority and status of the
person occupying the position at that level. These managerial positions divided into various
categories according to their amount of authority and status, they are known as the level of
management.
Managerial Hierarchy consists of;
a. Top Level Management or senior management
b. Middle Level Management
c. Lower Level Management
7
8. Top-level management
• Require an extensive knowledge of management roles and skills.
• They have to be very aware of external factors such as markets.
• Their decisions are generally of a long-term nature
• Their decisions are made using analytic, directive, conceptual and/or
behavioural/participative processes
• They are responsible for strategic decisions.
• They have to chalk out the plan and see that plan may be effective in the future.
• They are executive in nature.
These includes board of Directors, CEO’s they comprise small groups but are responsible for overall
management they formulate plans, decide objectives & communicate to middle level management.
Middle Level of Management
The branch managers and departmental managers constitute middle level. They are responsible to
the top management for the functioning of their department. They devote more time to
organizational and directional functions. In small organization, there is only one layer of middle
level of management but in big enterprises, there may be senior and junior middle level
management.
Their role can be emphasized as –
• They execute the plans of the organization in accordance with the policies and directives of
the top management.
• They make plans for the sub-units of the organization.
• They participate in employment & training of lower level management.
• They interpret and explain policies from top level management to lower level.
• They are responsible for coordinating the activities within the division or department.
• It also sends important reports and other important data to top level management.
• They evaluate performance of junior managers.
• They are also responsible for inspiring lower level managers towards better performance.
Lower Level of Management
Lower level is also known as supervisory / operative level of management. It consists of supervisors,
foreman, section officers, superintendent etc. According to R.C. Davis, “Supervisory management
refers to those executives whose work has to be largely with personal oversight and direction of
operative employees”. In other words, they are concerned with direction and controlling function of
management.
Their activities include –
• Assigning of jobs and tasks to various workers.
• They guide and instruct workers for day to day activities.
• They are responsible for the quality as well as quantity of production.
• They are also entrusted with the responsibility of maintaining good relation in the
organization.
• They supervise & guide the sub-ordinates.
• They are responsible for providing training to the workers.
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9. • They arrange necessary materials, machines, tools etc for getting the things done.
• They prepare periodical reports about the performance of the workers.
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10. • They arrange necessary materials, machines, tools etc for getting the things done.
• They prepare periodical reports about the performance of the workers.
9