VALUES IN OB
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This document discusses the meaning, definition, characteristics, sources, and types of values. It states that values are basic principles that guide individuals' behaviors and judgments. Organizational values refer to the ethical ideals that all employees are expected to follow. Values are formed from social institutions like family and influences like work colleagues. There are different types of values including theoretical, economic, aesthetic, social, political, and religious values. The document also discusses the importance of values and ethics in ensuring loyalty and ethical behavior in organizations.
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This document proposes a curriculum on human values and environmental studies for a bachelor's degree in business administration. It discusses both secular and spiritual values, outlining key values within each category. The importance of values in business is explained, noting how values shape organizational culture and success. The document also covers implementing values through institutionalizing attention to specific values, setting performance standards, and developing an organizational culture centered around key values. Principles of ethics for business are provided, including honesty, fairness, integrity, respect, responsibility and law-abiding conduct.
foundations of values in understanding human behaviour in an organizational s...
Values determine attitudes and actions by helping individuals decide what is important. Value systems establish the order and weight given to ethical, moral, and ideological values. Values influence decision-making, perception, and behavior. Younger generations increasingly value independence, technology fluency, and work-life balance, while older generations emphasize rules, authority, and career paths. Understanding employee values can help organizations shape desired performance by balancing individual and cultural values to increase job satisfaction, commitment, and retention.
Lesson ObjectiveDefine the nature, purpose, and importance of.docx
Lesson Objective:
Define the nature, purpose, and importance of human relations in organizations.
Every individual has values and attitudes, and these influence whether they behave ethically. Every individual is motivated by certain things to behave in certain ways. To be successful, individuals need to have values, attitudes, and ethics that are acceptable to society, including the workplace. Organizations are comprised of individuals so for any organization to achieve success — whether a business, government, or nonprofit entity — it must be managed and staffed by individuals who possess the values, attitudes, and ethics needed to promote the organization’s mission and vision, helping it achieve its goals and objectives.
This lesson will explain how values and attitudes are developed and how these influence ethics. This lesson also will consider motivation, explaining how individuals are motivated and the techniques that organizations can use to ensure its managers and employees are motivated to support the organization in its endeavors.
Values are established from a very young age and can be influenced by people and environments. Most would agree that our values drive our behavior and our communication with others. Our behavior can be influenced by internal value conflicts. These conflicts shape our ethical instinct and attitudes toward right and wrong behavior. Attitude choices include decisions to be happy, sad, optimistic, open-minded, pessimistic, etc. With this said, there are a variety of factors that influence one's attitude, such as psychological, emotional, cognitive, and social needs being fulfilled.
Based on your readings, it is clear that “Attitude” is a choice.
Be creative in your answer!
What responsibility do we have to ourselves and others in the workplace to ensure that our attitude and values have a positive and empowering effect in our personal and professional lives?
350-400 words excluding references, APA style format and a minimum of 3 references.
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Lesson ObjectiveDefine the nature, purpose, and importance of.docx
Lesson Objective:
Define the nature, purpose, and importance of human relations in organizations.
Every individual has values and attitudes, and these influence whether they behave ethically. Every individual is motivated by certain things to behave in certain ways. To be successful, individuals need to have values, attitudes, and ethics that are acceptable to society, including the workplace. Organizations are comprised of individuals so for any organization to achieve success — whether a business, government, or nonprofit entity — it must be managed and staffed by individuals who possess the values, attitudes, and ethics needed to promote the organization’s mission and vision, helping it achieve its goals and objectives.
This lesson will explain how values and attitudes are developed and how these influence ethics. This lesson also will consider motivation, explaining how individuals are motivated and the techniques that organizations can use to ensure its managers and employees are motivated to support the organization in its endeavors.
Values are established from a very young age and can be influenced by people and environments. Most would agree that our values drive our behavior and our communication with others. Our behavior can be influenced by internal value conflicts. These conflicts shape our ethical instinct and attitudes toward right and wrong behavior. Attitude choices include decisions to be happy, sad, optimistic, open-minded, pessimistic, etc. With this said, there are a variety of factors that influence one's attitude, such as psychological, emotional, cognitive, and social needs being fulfilled.
Based on your readings, it is clear that “Attitude” is a choice.
Be creative in your answer!
What responsibility do we have to ourselves and others in the workplace to ensure that our attitude and values have a positive and empowering effect in our personal and professional lives?
350-400 words excluding references, APA style format and a minimum of 3 references.
.
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This document discusses the concept of value in management. It defines values and explains that values guide behavior and attitudes. Value in management applies value-oriented thinking to motivate employees and maximize organizational performance. There are three elements to value-based management: creating value, managing for value, and measuring value. Values provide direction for an organization and bind people together through a shared culture and language. Values can help managers make responsible decisions and resolve ethical dilemmas. When personal and organizational values are aligned, they provide consistency for decision-making and relationships within the business.
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They are the principles we use to define that which is right, good and just. Values provide guidance as we determine the right versus the wrong, the good versus the bad. They are our standards. Consider the word “evaluate”. When we evaluate something we compare it to a standard. We determine whether it meets that standard or falls short, comes close or far exceeds. To evaluate is to determine the merit of a thing or an action as compared to a standard. Typical values include honesty, integrity, compassion, courage, honour, responsibility, patriotism, respect and fairness.
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I. Leaders play a key role in establishing organizational values and setting the direction of the organization. Values guide leader's decisions and perceptions.
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The document discusses ethics in human resource management. It defines ethics and discusses an HR manager's ethical responsibilities, including not blaming others for unethical actions and being responsible for one's own actions and those of subordinates. It also discusses how to determine if an action is unethical and provides the Code of Ethical Conduct from the Society for Human Resource Management, which addresses principles like professional responsibility, development, leadership, fairness and conflicts of interest.
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Sole Proprietorship
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Features
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• The liability of the sole proprietor is unlimited.
• Being the sole owner, the sole proprietor bears all the risk and receives all the profits.
• All the decisions are taken and implemented in the organisation by the owner.
• Owners and businesses have no separate entity and are considered one in the eyes of the law.
• Even in case of a lack of business continuity, the business can continue until the owner wants.
Advantages
• Prompt decision-making as all the decisions are to be taken by the owner.
• Being a sole owner, it is easy to maintain business secrecy.
• The owner enjoys all the profits as there is no one to share profits.
• A successful business provides satisfaction to the owner and a sense of achievement.
• No legal formalities are required for a business’s formation and closure, making it easy to start and end the business.
Disadvantages
• Due to limited resources, a business can be funded from the owner’s savings or money borrowed from friends or relatives.
• The business’s continuity depends on the owner’s health and state of mind.
• If the business fails to repay debts, the sole proprietor’s personal assets are at risk.
• One person may not possess the ability to manage all the functions.
Joint Hindu Family Business
In this form of business organisation, the business is owned and managed by the members of an undivided Hindu family, with the possibility of three successive generations as members of the business.
Features
• The business is formed with at least two members of a Hindu Undivided Family having ancestral property. The Hindu Succession Act, 1956, governs it.
• Except for Karta, all the family members have limited liability up to their share in the business property.
• Karta has the right to control all the activities in the business organisation.
• The business can be discontinued based on the consent of all the members of the family.
• Membership in the organisation is by birth.
Advantages
• Karta has complete control of the business, thus effective decision-making is ensured.
• The business continues till all the members wish to continue, and control is transferred to the next elder member in case of the death of ‘Karta’.
• Members of the family enjoy liability limited to their share in the business party.
• All the work is done with the common objective of growth as the family members have a sense of belongingness and loyalty.
Limitations
• Due to limited financial resources, businesses can be funded mainly from ancestral property.
FORMAL & INFORMAL ORGANIZATION.pptx
Organization is the backbone of management. Sound organization contributes greatly towards continuity & success of the organization.
Organizing is the process of integrating the physical, financial & human resources & establishing the productive relationship across them to accomplish the pre-determined goals.
It is concerned with the building up a stable framework or structure of various inter-related parts of the enterprise; each part having its own function & being centrally regulated.
Basic principles of organizing: Achievement of Goal
Division of work
Well defined jobs & Authority
Discipline
Co-ordination
Security & support
Better Human Relation
Adaptability
Formal organization consists of pre defined goal & well defined structure of the jobs having clear cut authority & responsibility.
It is based on basic rules, regulations, principles & practices where employees accomplish their task & achieve the goal of the organization.
In formal organization each & every employee is responsible for his/her own task & performance.
Examples: Production house & Service sectors
Informal organization values both personal & social relationship which is spontaneously established within the formal set up.
There is not any strict rules & regulations, but there is high scope of liberty & feelings.
The relationships are voluntary based on emotional set up. Therefore, no conscious effort is required to hold the relations.
Examples: friendship group.
Both formal & informal organizations play very vital role in organizational set up. Formal organizations work independently & informal organizations depend upon formal organizations.
Line organization is the most oldest & simplest form of administrative organization.
Line organization is also known as scalar organization as authority flows from top to bottom.
There is the line officer who has unified control and independent decision making power in their field.
Specialized or supportive services do not take place in line organizations.
There is also inadequate communication & some times lack of proper co-ordination due to one way communication.
Example: President, Vice President, Supervisor & Employees.
Line & Staff organization is a modification of the line organization & it is more complex than the pure line organization.
In this kind of organization, line officers & staff officers (Generalists & Specialists) work together. Line officers plan & execute the work whereas staff officers play advisory role.
Power of command remains with the line executives & staff serves only as counselors who reduce the burden of the line managers & help to take quick decision.
Centralization refers to the process in which organizations take decisions & plan. The decision making power is retained in the hand of the head of the organization & all other employees have to obey this.
Decentralization is just the opposite of centralization. It refers to delegation of decision making authority through out an organization.
EVOLUTION OF MANAGEMENT THOUGHTS.pptx
Henry Fayol is known as the Father of “Administrative Management”. He contributed fourteen management principles on the basis of his experience.
According to Fayol, the business operations of an organization can be divided into six activities: Technical, Commercial, Financial, Security, Accounting & Managerial.
These fourteen principles are: Specialisation of Labour, Authority, Discipline, Unity of Command, Unity of Direction, Subordination of Individual Interests, Remuneration, Centralization, Scalar Chain, Order, Equity, Personal Tenure, Initiative & Esprit de corps (SADUSRCSOEPIE).
Weber believed that bureaucracy was the most efficient way to set up & manage an organization, and absolutely necessary for larger companies to achieve maximum productivity with many employees & tasks.
The idea of Bureaucracy Favors efficiency, uniformity & a clear distribution of power.
Weber argued that bureaucracy constitutes the most efficient & rational way in which human activity can be organised.
Hierarchies are necessary to maintain order, to maximise efficiency & to eliminate favouritism.
The Hawthorne Studies (Experiments) were conducted from 1927-1932 at Western Electric Hawthorne Workers in Chicago ; which was engaged in producing bells & other electrical equipment for telephone industry.
George Elton Mayo (1880-1949) was born on 26th December, 1880 in Adelaide, Australia. He is known for his research including the “Hawthorne Studies”, & his book “The human problems of an Industrialised civilization”.
The conclusion of the study is the work performance of people is dependent on both social issues & job content. He suggested a tension between workers’ “logic of sentiment” & managers “logic of cost & efficiency” which could lead to conflict within organizations.
Mayo has conducted a series of experimental observations in plant & interview of employees. These are:
Illumination Experiment (1924-27)
Relay Assembly Test Room Experiments (1927)
Mass Interviewing Programme (1928-31)
Bank Wiring Observation Room Experiments (1931-32)
Chester Irving Barnard was a telecommunication executive looked at systems of the organization.
The author focused on two basic theories: the theory of Authority & theory of initiatives. Both are seen in the context of a communication system.
Everyone should know the channels of communication.
Everyone should have access to the formal channels of communication.
Lines of communication should be a short & as direct as possible.
Mary Parker Follett has focused on dynamics of the organization & groups. She has advocated “Pull” rather than “Push” approach for employee motivation.
She has differentiated between “Power Over” & “Power With” and given ideas on negotiation, conflict resolution, power sharing etc.
Conflict resolution through integration often results in a win-win situation. Integration refers to identifying & meeting each party’s underlying & often compatible need.
EVOLUTION OF MANAGEMENT THOUGHTS.pptx
In Pre-classical theory the structure of the organization is mechanical.
Its main focus is on work.
It emphasizes on order, rules & regulations.
The practice of leadership is authoritarian.
It focuses on 5Ps: Power, Position, Production, Profit & Punishment.
It results workers’ dis satisfaction.
As a result Industrial Revolution got its root
Classical Theory emphasizes on both orders & rationality. It consists of basic rules & regulations for smooth running of the organizations.
Classical approaches can be explained in the following manner.
Scientific Management by F.W. Tayler, Frank & Gilbreth & Henry Gantt.
Administrative Management by Henri Fayol.
Bureaucratic Management by Max Weber
Frederick Winslow Taylor was an American engineer who is known as the Father of “Scientific Management” which studies the application of science in management.
According to Taylor there is “One Best Way” to do each thing.
He stressed on involvement of science for each element of man’s work to replace the old rule-of-thumb method.
Scientific training & development helped workers to perform in a better manner than allowing them to choose their own task & perform.
There was the development of spirit of hearty cooperation between workers & management.
Each group was assigned the task for which it was best fitted.
The father of “Motion Study” are Frank & Gilbreth which involves finding the best sequence & minimum number of motions needed to complete a task.
Both were mainly involved in exploring new ways for eliminating unnecessary motions & reducing work fatigue.
They introduced the concept of “Therbligs” which consists of different basic motions like: Search, Select, Position & Hold.
Both are very famous for their experiment of reducing the number of motions in “Bricklaying”, by analyzing brick layers jobs & reducing the number of motions in bricklaying from 18.5-4.
Henry Laurence Gantt was a mechanical engineer & management consultant who is the most famous personality for developing “Gantt Chart” in 1910.
He is one of the associate of F.W. Taylor & his contribution is very helpful in project management task.
Gantt Chart is used for scheduling multiple overlapping tasks over a time period.
He focused on leadership qualities along with motivational schemes & emphasized the greater effectiveness of rewards for good work rather than penalties for poor performance.
He developed a “Pay Incentive System” with a guaranteed minimum wage & bonus for workers. If the workers completed their task before the standard time they would receive bonus definitely.
Henry Fayol is known as the Father of “Administrative Management”. He contributed fourteen management principles on the basis of his experience.
According to Fayol, the business operations of an organization can be divided into six activities: Technical, Commercial, Financial, Security, Accounting & Managerial.
These fourteen principles are: Specialisation of Labour, Authority, Discipline, Unity of Command, Unity
EVOLUTION OF MANAGEMENT THOUGHTS.pptx
In Pre-classical theory the structure of the organization is mechanical.
Its main focus is on work.
It emphasizes on order, rules & regulations.
The practice of leadership is authoritarian.
It focuses on 5Ps: Power, Position, Production, Profit & Punishment.
It results workers’ dis satisfaction.
As a result Industrial Revolution got its root
Classical Theory emphasizes on both orders & rationality. It consists of basic rules & regulations for smooth running of the organizations.
Classical approaches can be explained in the following manner.
Scientific Management by F.W. Tayler, Frank & Gilbreth & Henry Gantt.
Administrative Management by Henri Fayol.
Bureaucratic Management by Max Weber
Frederick Winslow Taylor was an American engineer who is known as the Father of “Scientific Management” which studies the application of science in management.
According to Taylor there is “One Best Way” to do each thing.
He stressed on involvement of science for each element of man’s work to replace the old rule-of-thumb method.
Scientific training & development helped workers to perform in a better manner than allowing them to choose their own task & perform.
There was the development of spirit of hearty cooperation between workers & management.
Each group was assigned the task for which it was best fitted.
His studies helped to improve the working conditions of industrial workers & were instrumental in enhancing the productivity of the organization.
He propounded sound management practices by stressing on division of labor, scientific selection, placement & training of workers.
Taylor was also instrumental in introducing the differential piece rate system in organization.
His studies helped to improve the working conditions of industrial workers & were instrumental in enhancing the productivity of the organization.
He propounded sound management practices by stressing on division of labor, scientific selection, placement & training of workers.
Taylor was also instrumental in introducing the differential piece rate system in organization.
Piece Rate-Incentive System: Incentives are being received according to the maximum pieces produced.
Time-&-Motion Study: Jobs are broken down into various small tasks or motions & unnecessary motions are removed to find out the best way of doing a job.
Scientifically performing the job with proper selection & training.
Harmony between management & employees to perform the task.
Mental revolution towards the thought of workers who are not the mere wage earners. They are the assets.
The father of “Motion Study” are Frank & Gilbreth which involves finding the best sequence & minimum number of motions needed to complete a task.
Both were mainly involved in exploring new ways for eliminating unnecessary motions & reducing work fatigue.
They introduced the concept of “Therbligs” which consists of different basic motions like: Search, Select, Position & Hold.
Nature & characteristics of Management.pptx
Management is goal oriented as every organization has to achieve some specific predetermined goals.
To achieve goals managers have to formulate, implement & control plans & programs.
Goals can be further divided into objectives & then tasks can be assigned.
To achieve goals & objectives organizations are connected with group of people.
Every organization focuses on team work. In a team there are different types of personnel who have different knowledge, skill & ability along with diversified age, gender & religion.
Organizations maintain unity in diversity and act as a group to accomplish the tasks.
Management makes different rules & imposes authority for the smooth run of the organization.
It has to maintain proper superior-subordinate & peers relationship.
It clearly indicates who is accountable towards whom, who will perform what activity etc.
Management states getting things done by others. It involves delegation of authority.
In order to achieve goals & objectives management has to direct, coordinate & regulate personnel.
To get optimum output management makes proper allocation & utilization of resources which can be done through social process.
Management is applicable to all-over the world.
The organization may be big or small, private or public undertaking management plays very vital role.
As a dynamic function management has to change policies & processes according to change in environment.
Organization consists of three levels to be managed. These are:
Top level
Middle level
Lower level
Management is different from activities, processes & techniques.
It has to achieve goals & objectives of the organization by preparing strategy.
It has to make planning, organizing, staffing, leading & controlling
Management means manage men tactically & getting things done through others which act can not be seen, but felt only.
The manager is tangible, but skill of management is intangible.
Management integrates different functional areas such as: marketing, finance, production, operation, human resource, research & development etc.
It also focuses on different divisions such as: customer, product, geographic etc.
It co-ordinates individual efforts into teams.
CONCEPT OF MANAGEMEENT.pptx
Management means proper allocation & utilization of resources to achieve the goals of the organization.
Our resources are 6Ms, 2Is & T.
6Ms are: Man, Money, Material, Method & Market.
2 Is are: Idea & Information.
T stands for Time.
Mary Parker Follett : Management is an art of getting things done through others.
Peter Drucker: Management is doing the things right & Leadership is doing the right things.
Peter Drucker: Management is a multi-purpose organ that manages business & manages managers & manages workers & work.
Henry Fayol: Management is the systematic process of five functions; Planning, Organizing, Commanding, Coordinating & Controlling.
According to Fayol, to manage is to forecast & to plan, to organize, to command, to coordinate & to control.
Harold Koontz: Management is the art of getting things done by others & with people in formally organized groups.
The concept of management consists of four following points.
Management as an activity
Management as a group
Management as a discipline
Management as a process
Management as both Science & Art
Nature & characteristics of Management.pptx
Goal oriented
Group activity
System of authority
Social process
Universal
Levels of management
Dynamic concept
Distinct feature
Intangible
Integrated
Multi disciplinary
Science-Art-Profession
MANAGERIAL ROLES & sKILLS.pptx
Henry Mintzberg has identified ten common roles of all managers.
The roles are divided into three groups:
Interpersonal
Informational
Decisional
Under interpersonal role management involves managers to act as:
Figurehead
Leader
Liaison manager
Figurehead performs ceremonial & symbolic duties such as greeting visitors, signing legal documents, attaining social functions etc. on behalf of the organization.
As a Leader managers have to direct & motivate subordinates, provide training & counselling etc.
As a Liaison manager maintains information, links both inside & outside organizations through mail, phone, meeting etc.
Under informational role managers have to play as:
Monitor
Disseminator
Spokes person
The main role of a Monitor is to seek & receive information, scan periodic reports & maintain personal contacts.
Disseminator has to forward information to other members of the organization through memos, reports, phones etc.
Spokes Person transmits information to outsiders through speeches, reports etc.
Under decisional role managers have to act as:
Entrepreneur
Disturbance handler
Resource allocator
Negotiator
Entrepreneur has to indicate projects, identify new ideas, focus on creativity, take risk & exploit opportunities.
As a Disturbance Handler manager takes corrective action during disputes or crises. Managers have to resolve conflicts among subordinates & remain adaptive to face environmental changes & challenges.
As a Resource Allocator manager decides allocation of resources on priority basis & prepares budget.
A Negotiator represents department during negotiation of union contracts, sales, purchases etc.
Robert Katz has suggested three managerial skills that are essential to the success of management.
These skills are:
Technical
Human
Conceptual
Technical skill involves process or technical knowledge & proficiency.
It belongs to the lower level of the hierarchy.
Managers use the processes, techniques & tools of a specific area.
It is the ability & knowledge needed to accomplish complex action actions, tasks & processes.
Human skill involves the ability to interact effectively with people.
Middle level managers should have strong human skill.
Managers interact & cooperate with employees. Human relations skills are directly related to a manager’s leadership abilities.
It focuses on the ability to get things done by understanding & working through others outside of formally prescribed organizational mechanisms is crucial for managerial success.
Conceptual skill involves the formulation of ideas.
It is associated with top level management.
Managers understand abstract relationships, develop ideas & solve problems creatively.
Conceptual skill focuses on the ability to see the enterprise as a whole & recognise how various functions of the organization are interrelated & how changes in one part affect all the others.
It helps to visualize internal & external relationship.
Example: Articulating a vision for the organization
LEVELS OF MANAGEMENT.pptx
The levels of management refers to a line of action between various managerial positions in the organization.
It determines a chain of command, the elasticity of authority & status enjoyed by each managerial position.
The levels of management can be broadly categorized into three parts such as:
Top Level
Middle Level
Lower Level
Top level management consists of directors, CEO & MD.
The top level sets the vision & formulates the strategy to achieve it.
It is responsible for strategy implementation & evaluation.
It devotes maximum time on planning. Co-ordinating, directing & controlling.
Top management lays down the objectives & broader policies of the organization.
It issues necessary instructions for preparation of departmental budgets, different procedures & schedules.
It prepares strategic plans & policies for the enterprise.
It appoints executives or divisional heads for middle level.
It deals with both internal & external environment of the organization.
The divisional managers, departmental or branch managers constitute middle level.
They are accountable to the top management for the functioning of their department.
They devote more time to organizational & directional functions.
In small organizations, there is only one layer of middle level of management, but in large organizations, there may be senior & junior middle level management.
Middle level managers execute plans of organization in accordance with the policies & 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 & explain policies from top level management to lower level.
The middle level managers are responsible for coordinating the activities within the division or department.
It sends important reports & other important data to top level management.
They evaluate performance of junior managers.
They are responsible for inspiring lower level managers towards better performance.
Lowe level is also known as supervisory or operative level of management.
It consists of supervisors, foreman, section officer & superintendent.
The managers direct operative employees.
They are concerned with direction & controlling function of management
Assigning of jobs & tasks to various workers.
Guide & instruct workers for day-to-day activities.
They are responsible for the quality as well as quantity of production.
They are entrusted with the responsibility of maintaining good relation in the organization.
They communicate workers problems, suggestions & recommendatory appeals etc. to the middle level.
Lower level management helps to solve the grievances of the workers.
They supervise & guide the sub-ordinates.
They are responsible for providing training to the workers.
They arrange necessary materials, machines, tools etc. for getting the things done.
They prepare periodical reports about the performance of the workers.
They ensure discipline in the enterprise.
They mot
CONCEPT OF MANAGEMEENT.pptx
Management means proper allocation & utilization of resources to achieve the goals of the organization.
Our resources are 6Ms, 2Is & T.
6Ms are: Man, Money, Material, Method & Market.
2 Is are: Idea & Information.
T stands for Time.
Management also means manage men tactfully to fulfill the vision of the organization.
Management is the application of knowledge & skill of managers to achieve the goals & objectives of the organization.
Mary Parker Follett : Management is an art of getting things done through others.
Peter Drucker: Management is doing the things right & Leadership is doing the right things.
Peter Drucker: Management is a multi-purpose organ that manages business & manages managers & manages workers & work.
Henry Fayol: Management is the process of five functions; Planning, Organizing, Commanding, Coordinating & Controlling.
Henry Fayol: Management is the systematic process of five functions; Planning, Organizing, Commanding, Coordinating & Controlling.
According to Fayol, to manage is to forecast & to plan, to organize, to command, to coordinate & to control.
Harold Koontz: Management is the art of getting things done by others & with people in formally organized groups.
The concept of management consists of four following points.
Management as an activity
Management as a group
Management as a discipline
Management as a process
As an activity management plans & controls human efforts to achieve common goals of an organization.
Management has to play different roles like:
Interpersonal
Informational
Decisional
Under interpersonal role management involves managers to act as:
Figurehead
Leader
Liaison manager
Under informational role managers have to play as:
Monitor
Disseminator
Spokes person
Under decisional role managers have to act as:
Entrepreneur
Disturbance handler
Resource allocator
Negotiator
As a group management consists of personnel from top level to bottom level such as : BOD, CEO, Departmental Heads, Functional Heads & many others.
There are several types of managers such as:
Family managers
Professional managers
Civil managers
Management as a discipline deals with specific areas such as:
Production
Marketing
Sales
Finance
Research & Development
HR etc
Management as a discipline focuses on different principles & theories.
HUMAN RESOURCE ACCOUNTING.pptx
HRA is the systematic process of identifying, measuring & communicating data about human resources.
According to Flamhoitz HRA involves measuring the costs incurred by business firms & other organizations to recruit, select, hire, train & develop human assets.
HRA therefore, shows how the organization makes investment in its people & how the value of the people change over time. Value of the employees increases by training (the core HRD activity ) & experience over a time period.
With the help of HRIS (personal profile, career profile, benefits profile ) organizations collect basic information while doing HRA.
Personal profile – name, age, gender, address, phone number, service date.
Career profile – education, training, certificate, license, degrees, skills, hobbies, requisite training etc.
Benefits profile – insurance coverage, disability provisions, pension, profit sharing, vacation, holidays, sick leave etc.
HRIS consists of
Number of employees
Categories
Grades
Total value of HRs
Value per employee
Number of employees acquired during the year
Cost of acquisition
Levels for which they were acquired
HR development
HR maintenance
Cost related to HR maintenance
HR separation
Cost related to HR separation
Detail of benefits provided to the employee
Methods of evaluation can be non-monetary & monetary
Non- monetary measures – It involves the classification of human resources in terms of skills, performance evaluation, potentiality for development & promotion, attitude surveys & subjective values
Skill is coordinated series of actions to attain some goal. Skills are defined widely as overt responses & controlled stimulation.
Overt responses may either be verbal, motor or perceptual.
Verbal responses typically stress on speaking.
Motor responses stress on movements of limbs & body.
Perceptual responses stress on understanding of sensory responses.
Controlled stimulation are energy inputs to the workers which we express in units of frequency, length, time & weight.
Monetary measures are
Capitalization of historical costs method
Replacement cost method
Opportunity cost method
Economic value method
Present value method
Historical cost method was developed by Likert.
It capitalizes all costs of recruitment, hiring, training & other initial costs involved in the development of HRs.
The amount which is capitalized is written off over the period of an employee remains with the organization.
If he leaves before the expected service period, the amount remaining as an asset is written off in the year of leaving.
Replacement cost method measures the cost to replace an organization’s existing human resources.
It indicates what it would cost the concern to recruit, hire, train & develop human resources to match the present level of efficiency.
Under opportunity cost method, the value of HRs is determined on the basis of the value of an individual employee in an alternative use.
If an employee can be hired externally, there is no opportunity cost for him.
FACTORS INFLUENCING HRP - 2.pptx
Internal Factors consist of
JOB ANALYSIS – It is a basic exercise of HRM which provides the necessary inputs for both Job Description & Job Specification. Job description consists of information related to jobs ( job characteristics, location, physical setting, hazards & discomforts of a job, responsibility related, materials, tools & equipments required, nature of operation etc). Job specification specification focuses on the information related to the employee who will perform that job ( personal attributes like – experience, training, physical strength, mental capabilities , education required for efficient performance of the job etc ).
MGT POLICIES – Policies related to vision, mission, goals & objectives. Under management policies we can also discuss about production operation such as – what products are produced in terms of quantity & quality. To achieve that particular level, employees are required.
.HR POLICIES – A policy is a pre determined established guideline towards the attainment of accepted goals & objectives. So HR policies are basic guidelines related to recruitment, selection, placement, induction, performance appraisal, remuneration & reward, training, labor relations, QWL etc. All these policies influence HR Planning.
COMPANY STRATEGIES – Different companies follow different strategies such as expansion, diversification etc & on these basis HRP will be designed.
COMPETITIVE STRATEGIES – Cost leadership, differentiation, focus etc. are competitive strategies which influence HRP
External factors are also known as Environmental factors which are beyond direct control of any organization. So environmental feed back plays very important role in strategy formulation & implementation. Those who are always active towards environmental changes appoint knowledgeable employees, who help to collect accurate information & prepare strategy.
POLITICAL FACTORS – Political & legal factors such as GOVT. rules & regulations influence HRP. For example – policies related to industrial relation, quota & reservation system, different Acts related to factory, mines, disputes, compensation, etc.
ECONOMIC FACTORS – The country which is economically developed have high employment rate, high standard of living & low poverty. It basically focuses on selection of HRs qualitatively & takes steps for training & developmental needs of employees.
SOCIAL FACTORS – Rapid changes in social conditions influence HRP. For example – nuclear family, employment of women, elementary education, community development programs & other welfare activities etc. similarly there is rapid change in our traditions , false beliefs & old thoughts which influence HRP.
TECHNOLOGICAL FACTORS – Due to globalization MNCs can easily operate in every country. MNCs bring developed technology. Technology determines the HRs required in the organization. To run large scale industries heavy machineries are required & to run those efficient HRs are required.
CAREER PLANNING & DEVELOPMENT.pptx
A career is defined as a sequence of related jobs and work activities over a person's lifetime. It involves progression to roles with increasing responsibility, status, and rewards within an organization. Career development is the systematic process of planning one's career path and developing necessary skills. It involves different stages - exploratory, establishment, maintenance, and decline. The goals of career development programs are to attract, retain, and motivate employees while allowing them to advance their skills and roles over time.
APPROACHES TO HRP.pptx
MRA has been developed by Youdi in 1985. It is one of the dominant model of MPP.
It establishes linear relationship between manpower category in different industry groups & their output.
Example – This model is used by our country for the educational planning at the national level.
This model consists of 3 steps. These are
(a) Assessing the demand for manpower,
(b)Assessing the supply of manpower,
( c)Balancing the supply & demand.
Demand side consists of some basic aspects such as –
Estimation of future level of GDP.
Estimation of distribution of output by economic sectors.
Estimation of labor productivity by economic sector.
Estimation of occupational structure of labor force within economic sectors.
Estimation of educational structure of the labor force in given occupations within economic sectors over time.
Supply side consists of Estimation of population & categorization on the basis of age, gender & educational level.
Estimation of number of graduates.
Distribution of labor force & participation rates to the number of graduates.
Estimation of occupational supply based on the labor supply by education level.
While developing a MPP if the planner is too optimistic about labor productivity, his forecasting may fall short of actual labor demand & labor force participation rate can increase the actual supply of labor.
So it is very important to maintain a balance in between demand for & supply of man power.
Sometimes due to poor data quality it then tends to use an ad hoc adjustment mechanism which is helpful to revise one or more of the key assumptions.
RRA is also known as cost-benefit analysis of human capital.
It is applied to decide the aggregate investment requirement for different skill development.
Cost & earnings of an individual over his productive life cycle is computed first & then their discounted value is estimated to assess the rate of return.
LECT-9-BUSINESS PORTFOLIO ANALYSIS.pptx
PORTFOLIO RESTRUCTURING/BUSINESS PORTFOLIO ANALYSIS:
Large diversified organizations basically use combination strategy. For example: an organization may simultaneously seek growth through the acquisition of new businesses, employ a stability strategy for some of it existing businesses and divest of any other business which runs in loss.
It is very complicated to identify a consistent strategy for large diversified organizations, because a number of different business-level strategies need to be coordinated to achieve overall organizational objectives.
Business portfolio models are tools for analyzing: the relative position of each of an organization’s businesses in its industry & the relationships among all the businesses of the organization.
The well-known approaches to develop business portfolio include: BCG Matrix, GE 9 Cell, 7s Framework & Balance Score Card.
BCG Matrix is also known as BCG Growth-Share Matrix.
It states that the organization should have a balanced portfolio of businesses such that some generate more cash than they use and can support other businesses that need cash to develop & become profitable.
The role of each business is determined on the basis of two factors: the growth rate & market share
The vertical axis indicates the market growth rate which is the annual growth percentage of the market (current or forecasted) in which the business operates.
The horizontal axis indicates the market share dominance or relative market share. It is computed by dividing the firm’s market share (in units) by the market share of the largest competitor.
The matrix is the combination of rows & columns. The growth-share matrix has four cells.
A star is the market leader in a high growth market (HMS & HMG). They are question mark business that become successful.
The organization has to spend a great deal of money keeping up with the market’s growth rate & fighting off competitor’s attack.
Stars are often cash using category rather than cash generating. They are profitable units and provide high ROI as compared to others.
Hold strategy is maintained for this success and benefit from market growth by means of a Star.
Question mark is also known as problem child as it operates in high growth market, but low relative market share (LMS & HGR).
The term question mark or problem child is well chosen, because the organization has to think hard about whether to keep investing funds to become a star or it comes down to dog category.
Most business start off as question marks, in that they enter in a high growth market in which there is already a leader.
A question mark generally requires the infusion of a lot of funds to keep adding plant, equipment, personnel to keep up with fast growing market & it wants to overtake the leader.
Build strategy is appropriate for question mark as it increases share inorder to become a star by creating a new brand and a new target audience.
Question mark is also known as problem child as it operates in high growth.
LECT-10-STRATEGY FORMULATION, IMPLEMENTATION, EVALUATION & CONTROL.pptx
STRATEGY FORMULATION, IMPLEMENTATION, EVALUATION & CONTROL:
Strategy formulation includes planning & decision-making and developing plans to achieve organizational goals & objectives.
It is an entrepreneurial activity based on strategic decision making to reach at vision.
It demands co-ordination of personnel of each and every level of organizational hierarchy.
It requires strong analytical and conceptual skill.
Choice of strategy involves understanding and choosing the best formulated strategy across different strategic alternatives.
Its first step is SWOT analysis.
Management needs to seek to identify & evaluate alternative courses of action to ensure that the business reaches the objectives they have set.
It is a creative process of generating alternatives, building on the strengths of the business & allowing it to tackle new products or markets to improve its competitive position.
STEPS IN STRATEGIC CHOICE
Strategy formulation
Focusing on strategic alternatives
Evaluating strategic alternatives
Considering decision factors
Choice of strategy.
Strategy implementation involves all those means related to executing the strategic plans.
It is mainly a administrative task based on strategic & operational decisions.
It is an operational process which requires co-ordination among all employees.
It requires specific leadership & motivational traits
Evaluation of strategy is as significant as strategy formulation because it throws light on the efficiency & effectiveness of comprehensive plans in achieving the desired results.
The managers can also assess the appropriateness of the current strategy in today’s dynamic world which is influenced by PEST (Political, Economic, Social & Technological )
It is very significant because of various factors such as: developing inputs for new strategic planning, the urge for feedback, appraisal & reward, development of strategic management process, judging the validity of strategic choice etc.
PROCESS/ STEPS OF STRATEGIC EVALUATION
Setting standard performance or expected performance or benchmarking performance.
Measure the actual performance.
Analyzing the variance by comparing standard and actual performance.
Taking corrective action to achieve the target
LECT-8-Global Environment In Corporate Strategy.pptx
Global Environment:
Global environment is the most vital component of macro environment.
It refers to operating in more than one country in the world & gain its R & D, production, marketing & financial advantages in terms of cost & reputations that are not available to domestic competitors.
Globalization of markets refers to the process of integrating & merging of world markets into a single market. This process involves the identification of some common norm, value, taste, preference & cultural shift towards the use of common product or services.
The Example of products having global acceptance are: Coca-Cola, Pepsi, Mc Donald’s, Citicorp Credit cards etc.
Characteristics of Global Environment:
Global Environment treats the whole world as a common village focuses on how organizations are related to each other.
It consists of a set of fresh beliefs, working methods, economic, political and socio-cultural relatives in business.
It integrates the world economy & opens scope for new potential of huge market.
It intends to remove all global barriers among countries.
Global Company:
Global company is a firm which having multiple units that are located in different parts of the world, but all are being linked by common ownership of umbrella.
Global multiple units draw a common pool of resources like: money, credit, information, patent, trade name & control system.
Its shareholders & human capital are of different nations. The company follows common strategy to sell its products in most of the countries.
Reasons For Globalization:
The large scale industries have mass production. So they focus on foreign market.
They try to reduce the risk of diversity of portfolio of countries.
Companies globalize markets in order to increase their profits & achieve goals.
The adverse business environment in the home country pushes the companies to globalize their market.
The failure of domestic companies in catering the needs of their customers pulled the foreign countries to market their products.
It is particularly important to industries which are directly depending on imports & exports.
Advantages Of Globalization:
Free flow of capital & increase in the total capital employed.
Free flow of technology from developed countries to developing countries.
Increase in industrialization.
Spread production facilities throughout the globe.
Balanced development of world economies.
Increased in production & consumption of outputs.
Commodities available at lower price with high quality.
Cultural exchange & demand for a variety of products in foreign market.
Increase in job opportunities & income for the country along with welfare & prosperity.
Disadvantage Of Globalization:
Globalization kills domestic small business firms.
It exploits human resources in global firms.
It leads to unemployment & underemployment in developing countries.
It declines income & standard of living due to unemployment & increases high gap between rich & poor.
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VALUES IN OB
- 2. MEANING DEFINITION CHARACTERISTICS SOURCES TYPES LOYALTY & ETHICAL BEHAVIOR
- 3. Values are basic principles which guide individuals. These are strong beliefs, deep rooted ideologies & core thoughts which are carried by individuals.
- 4. Values can be defined as basic standards or ideal behavior that states about one’s judgment – what is important in life. Organizational values can be defined as a set of ethical ideals which must be obeyed by all employees.
- 8. Values set moral standards. Attitudes & behavior are based on values. Values are permanent & close. Values prepare scope for motivation.
- 9. Value-forming activities of various social institutions (family, school, state & religion ) Values of an organization (levels, structure, strategy & goal congruence ) Peers / colleagues in the organization (we feeling, team work, caring & empathy ) Work & career aspects ( planning, organizing, staffing, leading, controlling & career planning ) Professional code of conduct (increasing source of ethical norms for managers in business organizations.
- 10. Theoretical Economic Aesthetic Social Political Religious
- 11. Theories are based on reasoning & systematic thinking. It is the discovery of truth. For example – If all the employees practice truth in true sense, the organization would operate itself & there won’t be any need for supervision.
- 12. It focuses on wealth maximization & proper allocation & utilization of resources. For example – if the project is economically viable, then it can be undertaken.
- 13. It is based on appreciation of beauty & harmony. It refers to perform your duty with beauty. It refers to all work must be done in a smooth manner & that there is mutual understanding & sense of participation among all human elements. Aesthetic value is displayed by cordial relations between various levels of organization, effective communication & conflict free environment.
- 14. Social values are based on society which consists of human beings & their relations. It is related to love of people, sense of belonging & an attitude of we feeling. For example – In the organization employees work together & for this there is increase in productivity & motivation.
- 16. Political values are based on gaining power & influencing people. Right people must be placed at the right position. For example – motivation & leadership
- 17. These are regarded as devotional values & sacred thoughts. It is used in the organization & all employees believe that duty is God.
- 18. INSTRUMENTAL VALUES – It helps to achieve the goals of organization. These are ambition, honesty, self sufficiency, courage, broad minded, help, responsible, forgiving & self controlled etc. These values are universally applicable. TERMINAL VALUES – Instrumental values make way for terminal values. It is the ultimate goal which must be achieved. For example – salvation, world at peace, happiness, precious life, equity, national security, freedom & world of beauty.
- 19. Work values are very important as they affect work atmosphere. Work values are deep rooted in organizations. Every individual must possess a high degree of value system, he must be loyal to his work, the superior & behave ethically in common interest of the society.
- 20. ACHIEVEMENT – It refers to advancement in one’s career due to hard effort. HONESTY – It refers to truthfulness or accuracy. It also focuses on values like do not mislead others & provide right information. FAIRNESS – It focuses on avoidance of discrimination & inequality regarding pay, promotion etc.
- 21. Ethics are morale guidelines or basic code of conduct on which value stands. Managerial ethics are basic values or philosophy which is the foundation of the organization. There are 3 types of managerial ethics – immoral management, moral management & amoral management.
- 22. Immoral management Moral management Amoral management
- 23. Immoral managers are only profit oriented. They have lack of social concern, legal practices & ethical principles.
- 24. Managers having high moral use fair & justice practices & procedures for success. They follow ethical principles & legal behavior.
- 25. Amoral managers are neither moral nor immoral. They can be of 2 types – intentional & unintentional amoral. Intentional amoral – They do not follow any ethical principles in decision making. They also feel ethical principles have value in life not in business. Unintentional amoral – Here managers ignore ethical principles, because they are insensitive by their nature.
Editor's Notes
- BY: DEBAJANI PALAI, FACULTY: IMIT, CUTTACK, ODISHA