scope and significance of management of management. how it is important to study

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Dr. Honey Gupta

2. 1:-Scope of Management
2:-Significance of Management
3:-Management As a Science or an Art
4 :-Levels of Management
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3.  Planning
 Organizing
 Staffing
 Directing
 Controlling
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4.  Planning means defining performance goals for the
organization and determining what actions and resources
are needed to achieve the goals. It defines what the future
of the organization should be and how to get there.
 Strategic plans – They are long-term and affect the entire
organization.
 Tactical plans - They translate strategic plans into specific
actions that need to be implemented by departments
throughout the organization.
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5.  Organizing function involves deciding how
the organization will be structured (by
departments, job responsibilities, etc.).
 Organizing involves assigning authority and
responsibility to various departments,
allocating resources across the organization,
and defining how the activities of groups and
individuals will be coordinated
 To best implement the plans .
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6.  The staff of an organization is made up of persons who
carry out the work allotted to them. The Organization is
so staffed that it attains objectives smoothly.
 It also foresee future manpower needs and plans to
acquire them.
 Training of staff
 Performance Appraisal
 Promotion and Transfer
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7.  The manager directs the efforts of the staff towards a
common goal. He acts a leader to the group to do so. He
takes into account the capacity of his staff to do a
particular work.
 Manager gives necessary orders/instruction to
subordinates regarding performing work .
 When and how a work is to be performed.
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8.  Planning is necessary for making preparations, but
when it’s time to implement the plan, everything will
not go as planned. Unexpected things will happen.
 Controlling is the process of monitoring activities,
measuring performance, comparing results to
objectives, and making modifications and corrections
when needed.
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10.  Production Management
 Marketing Management
 Financial Management
 Personnel Management
 Office Management
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11.  Designing the Product
 Location and Layout of Plant and Building
 Planning and Control of Factory Operations
 Operation of Purchase and Storage of Materials
 Inventory Cost
 Quality Control
 Research and Development
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12.  Marketing research to determine the needs and
expectation of consumers .
 Planning and developing suitable products.
 Setting appropriate prices .
 Marketing Segmentation
 Selecting the right channel of distribution.
 Promotional activities like advertising and
salesmanship.
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13.  Estimation of capital requirements.
 Selecting the appropriate source of fund.
 Raising the required funds at right time.
 Choosing the optimum capital mix.
 Dividend Policy
 Ensuring a fair return to investors.
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14.  Manpower Planning
 Recruitment
 Selection
 Training
 Orientation
 Appraisal
 Promotion and Transfers
 Compensation
 Employee Welfare Services
 Trade Unions
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15.  It is concerned with planning and coordinating and
controlling office activities. As the size of offices is
increasing and growing of computerization of office
work, proper handling of office activities has become an
important area of management.
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16.  Office management can be defined as, “the
organization of an office in order to achieve a
specified purpose and to make the best use of the
personnel by using the most appropriate machines
and equipment, the best possible methods of work
and by providing the most suitable environment.”
 Office accommodation
 layout and environment
 communication
 handling correspondence and mail
 typing and duplicating
 record management and filing, indexing
 forms and stationary, machines and equipments
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17.  Managing the technology resources of a
business to meet its needs and priorities is
referred to as IT management. IT managers
and teams are focused on making sure the
technology of a business is aligned with the
strategies set in place. IT management means
meeting business goals while fulfilling the
expectations of customers.
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18.  Systematic body of knowledge.
 Scientific principles are derived on the
basis of logical and scientific observations.
 Principles are based on repeated
experiments
 Universal Validity.
 Replication is possible.
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19.  Systematic body of knowledge/Existence
of theoretical knowledge.
 Personalized application.
 Perfection through practice.
 Creativity.
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20.  Management is both science as well as art.
Like science it has systematic and well-
organised body of knowledge and like art it
requires personal skill, creativity and practice
to apply such knowledge in the best possible
way. Science and art are not in contrast to
each other; both exist together in every
function of management.
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21.  Well defined Body of Knowledge
 Restricted Entry
 Presence of Professional Associations
 Existence of Ethical Codes
 Service Motive
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22.  Achievement of group objectives.
 Management meets the challenge of change .
 Optimum utilization of resources.
 Reduction in production cost.
 Stability.
 Ability to face competition.
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23.  Innovation.
 Effective functioning of business.
 Higher standard of living.
 Generation of employment.
 Development of nation.
 Fulfillment of social objectives and responsibility.
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27. Q1. Explain the term ‘Management'. Also discuss the scope
of management .
Q2. Is Management a Science , an Art or a Profession.
Q3.Define Management and discuss its importance.
Q4.Write a note on different levels of management.
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28.  Reference Books:-
i) Essentials of Management By Harold Koontz and
Heinz Weihrich
Publisher – McGraw Hill Education, Tenth Edition
ii) Management Principles and Practice By
R.Srinivasan and S.A Chunawalla
Publisher – Himalaya Publishing House, Revised
Edition - 2014
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