Management Notes

1. UNIVERSITY : ALAGAPPAUNIVERSITY
COURSE : BSCCHA
SUBJECT : PRINCIPLESOFMANAGEMENT
SEMESTER : V
UNIT : I

2. UNIT – 1 INTRODUCTION TO BUSINESS AND MANAGEMENT
 Meaning, definition, characteristics, objectives, functions and scope of business
 Meaning, definition, nature and characteristics, scope and functional areas of
Management, Process of management
 Levels of management
 Management a Science or art or profession
 Management and administration
 Principles of Management
 Social responsibility of business and ethics

3. Meaning of Business
• A business is defined as an organization or
enterprising entity engaged in commercial,
industrial, or professional activities.
Businesses can be for-profit entities or non-
profit organizations.

4. Definition of Business

5. Characteristics of Business
(1) An Economic Activity
(2) Manufacturing or Procurement of Services and Goods
(3) Exchange or Sale of Goods and Services for the Satisfaction of Human Needs
(4) Dealings With Goods and Services on a Daily Basis
(5) Profit Earning
(6) Uncertainty of Return

6. Objectives of Business

7. Functions of Business

8. Meaning of Management
Management can be defined as a
process of getting the work or
the task done that is required for
achieving the goals of an
organisation in an efficient and
effective manner.
Process implies the functions of
the management. That is,
planning, organising, staffing,
directing and controlling.

9. Definition of Management
Louis E Boone & David L Kurtz- The use of
people and other resources to accomplish
objectives.
Mary Parker Follet- the act of getting things
done through people.
Frederick Taylor defines Management as the
art of knowing what you want to do in the
best and cheapest way
Henry Fayol – “To manage is to forecast and
to plan, to organize, to command, to co-
ordinate and to control.”
J.N. Schulze – “Management is the force
which leads, guides and directs an
organisation in the accomplishment of a pre-
determined object.

10. Nature of Management

11. CHARACTERISTICS OF MANAGEMENT

13. PROCESS AND FUNCTIONS
Management process/functions involve 5 basic activities;
• PLANNING
• ORGANIZING
• STAFFING
• DIRECTING
• CONTROLLING

16. CONCLUSION
SUCCESSFUL MANAGERS are made, not born. They are self-
made, through continuous and never-ending work on
themselves. Everyone starts at the bottom and then works his
or her way up through hard, hard work, sustained over a long
period of time.

17. LEVELS OF MANAGEMENT

18. MEANING
The term Levels of Management refers to the line of division that
exists between various managerial positions in an organization. As the
size of the company and workforce increases, the number of levels in
management increases along with it, and vice versa.
DEFINATION
Management levels are the divisions between degrees of authority
and responsibility in a company. The typical management levels are
top-level management, mid-level management and first-line
management. These levels determine the duties of various manager
positions, including who they report to and who reports to them.

20. Top Level Management
Top-level management
includes managers who work
at the highest level of the
organizational standard or
position. In this level, the
number of members is low
according to their other levels.
Following are the main
designations assigned to
individuals working at this
level:
• Managing Director
• Board of Directors
• Chairperson
• Chief executive Officers
• Chief product Officers
• Chief technology Officers

21. Functions performed at top level of management are :
• Making strategies and goals for the organisation.
• Taking decisions regarding activities to be
performed.
• Framing policies for the organisation.
• Responsible for welfare and survival of the
organisation.

22. Middle-Level Management
• Middle-level management includes
departmental heads or individuals.
• It is the connection between top
and lower level managers.
• Middle management is
accountable for executing and
regulating systems and
manoeuvrings generated by the top
management.
They consist of:
• Divisional heads and sub-divisional
heads.
• Departmental heads like purchase
manager, sales manager, finance
manager, personnel manager etc.
• Plant superintendent.

23. Functions performed at the middle level of management are
• Explain the policies to lower management.
• Taking decisions regarding the number of personnel in the department.
• Assigning duties and responsibilities to employees in their department.
• To act as a link between the lower level and the management.

24. Lower level management
• This level of management is also known as operational level management.
• They create a link between middle-level managers and non-managerial employees.
• They monitor the activities of non-managerial employees and coordinate their
work for better achievement.
• They train, motivate or inspire the workers. These managers are ‘foreman’,
‘supervisors’, ‘operating managers’, and so on.
This level consists of:
Supervisors
Foremen
Inspectors

25. Functions performed at the lower level of management are:
• Providing on the job training to the workers
• Ensuring the good performance of the workers
• Giving feedback to the workers
• Influence others to work more by setting an example
• Responsible for group unity
• Act as a link between the management and the workers

26. Management a Science or art or
profession
Meaning
It is considered a science because it has an
organized body of knowledge which
contains certain universal truths. It is called
an art because managing requires certain
skills which are personal possessions of
managers. Science provides knowledge &
art deals with the application of knowledge
and skills.

28. MANAGEMENT AND
ADMINISTRATION

29. MEANING
Management is a systematic way
of managing people and things
within the organization. The
administration is defined as an act
of administering the whole
organization by a group of people.
Management is an activity of
business and functional level,
whereas Administration is a high-
level activity.

30. Management decides who should do it & how should he do it. Administration
decides what is to be done & when it is to be done

31. BASIS FOR COMPARISON MANAGEMENT ADMINISTRATION
Meaning An organized way of managing
people and things of a business
organization is called the
Management.
The process of administering an
organization by a group of people is
known as the Administration.
Authority Middle and Lower Level Top level
Role Executive Decisive
Concerned with Policy Implementation Policy Formulation
Area of operation It works under administration. It has full control over the activities of
the organization.

32. PRINCIPLES OF MANAGEMENT

33. MEANING
• Formally defined, the principles of management are the
activities that “plan, organize, and control the operations of
people, materials, machines, money and markets, providing
direction and coordination.
• Principles of management serve as guidelines for managerial
decision-making and their course of action. It is through
principles that management predicts the result of their
actions.

34. Definition
• Principles of management are broad and
general guidelines for decision making and
behaviour. Division of work, discipline etc.
Developed and applied in business. Basic
truths or guidelines. Formed after research at
the workplace.

36. WHAT ARE THE ADVANTAGES OF PRINCIPLE OF
MANAGEMENT
• Managers can focus on optimum use of available
resources
• To achieve productive results at minimum cost and
maximum profits
• What are the Disadvantages of principle of
management?
• Neglects the most important aspect of the
businesses, i.e., the customer and customer
satisfaction.

37. Social responsibility of business and ethics

38. Introduction
• Social responsibility is a business's duty to make ethical
decisions that positively impact society.
• to create long-lasting trusting relationships. In order to be
socially responsible, companies must strictly follow their
codes of ethics

39. Social responsibility has
become increasingly important
to investors and consumers
who seek investments that not
only are profitable but also
contribute to the welfare of
society and the environment
MEANING

41. Over all view of social responsibility

42. CONCLUSION