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Def -1 (Harold Koontz) <br />“MANAGEMENT is the process of designing and maintaining an environment in which individuals, working together in groups, efficiently accomplish selected aims”.<br />-Harold Koontz and Heinz Weihrich <br />And therefore –<br />As manager people carry out the function of Planning, Organizing, Staffing, Leading and Controlling.<br />,[object Object]
It applies to Managers at all organisational level.
The aim of all Managers is the same: To Create Surplus.
Managing is concerned with productivity
Productivity implies effectiveness and efficiency.
Effectiveness is the achievement of objectives
Efficiency is the achievement of ends with the least amount of resources.Def – 2 (George R. Terry)<br />“MANAGEMENT is the distinct process consisting of activities of planning, organizing, actuating and controlling, performed to determine and accomplish stated objectives with the use of human beings and other resources.”   - George R. Terry <br />Thus the six M’s of management, i.e. men (and women), materials, machines, methods, money and markets, or basic resources, as they are often called are subjected to the fundamental functions of management – planning, organizing, actuating and controlling to achieve stated objectives. <br />Def – 3 (Mary Parker Follet) <br />Management is the art of getting things done through people   <br />-    Mary Parker Follet <br />,[object Object]
Manager’s contribution to the organisation is indirect.
Person who is not a Manager contributes directly to the goal of the organisation.It does not mention various functions of management <br />Def – 4 (Another school of thought)<br />“Management is distinct process of effective utilization of human and material resources to achieve enterprise objectives.”  <br />-Another school of thought <br />Management involves following five major functions: - <br />,[object Object]
Plan
Organize
Command
Coordinate
ControlHuman resource imply <br />,[object Object]
-Irrespective of their position. Material resource includes <br />,[object Object]
-Machines
-Materials
-Technology Managing human resources and getting the best out of them in terms of productivity, integrity, loyalty to the organization and their retention in the organisation is a difficult task. <br />Material resources are procured, preserved and utilized systematically to accomplish organisational goal.<br />Both human resource and material resources are to be utilized optimally by the management. And therefore………….<br />‘Management is an activity that converts disorganized human and physical resources into useful and effective results.’<br />Def – 5 (Henry Fayol)<br />Management is process of functions. <br />-Henry Fayol <br />Roles of a Manager <br />,[object Object]
Figurehead: - Manager performs duties of a ceremonial nature like talking to an important customer.
Leader: - Motivates his employees and reconciles their needs and aspirations with organisational goals.
Liaison: - Cultivates contact outside vertical chain of command to collect information relevant to the organisation.
Informational roles -
Monitor: - This is continuous scanning of environment for information. This can be through personal contact or through subordinates or may be unsolicited information.
Disseminator: - Passing of information to subordinates in order to achieve goal of the organization.
Spokesman: - Relevant information is passed to various groups and people who influences the organization, they are – shareholders, government or any other organization including press.
Decisional role:-
Entrepreneur: - Look out for new ideas improves organization continually by adapting it to changing external environment.
Disturbance handler: - He is a fire fighter, finds solution for unanticipated problems. (i.e. strike, bankruptcy of major customer etc.).
Resource allocator: - Delegation of authority and allocation of resources.
Negotiator: - He spends considerable time in negotiation with supplier or employee. Management Art or Science<br />,[object Object]
Organizational knowledge underlying the practice may be referred to as ScienceManaging is an art for it entails doing things in the light of realities of the situation. Yet manager can work better by using the organized knowledge about management i.e. Science.<br />The Elements of Science <br />Science is organized knowledge. The salient feature of any science is the application of the scientific method to the development of knowledge. <br />The Scientific Approach <br />The Scientific method involves the determination of fact through observation. After classifying and analyzing these facts, scientists look for casual relationships. When these generalizations or hypothesis are tested for accuracy and appear to be true, that is to reflect or explain reality, they are called “principles”. Principles have value in predicting what will happen in similar circumstances.<br /> Theory is systematic grouping of independent concepts and principles that ties together a significant area of knowledge. <br />Evolution of Management thought<br />,[object Object]

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Principle and practices of management