4. Goals
1. Maximum Profit Levels
2. Maintenance or growth of financial strength
3. Quality standards
4. Professional obligations
5. Societal concerns—Social Responsibility of
Business
5. Management is a multi-purpose organ that
manages business, managers, workers &
work
6. MANAGEMENT
• “Management is the art of getting things done
through and with people in formally organized
groups.”
• -
Koontz
7. • “Management is process involving planning,
organizing, staffing, directing, and controlling
human efforts to achieve stated objectives in
an organization.”
8. •“Management is simply the process of decision-
making and control over the actions of human
beings for the expressed purpose of attaining pre-
determined goals” -Stanley Vance
9. WHAT IS MANAGEMENT PROCESS?
WHAT IS MANAGEMENT PROCESS?
• Methodology of getting things done
• Series of actions or operations
• Functions performed and sequence of
performance
• Planning, Organizing, Actuating and Controlling
10. MANAGEMENT
Process of Organized Activities
For achievement of enterprise goals, management plans,
organizes co-ordinates, directs and controls group efforts
Existence of Objectives
Without objectives, it becomes difficult to define the direction
where organized group activities would lead to
11. Relationship Among Resources
Resources include (5 M’s of management) MEN,
MATERIAL, MONEY, MACHINES, METHODS
All these resources are made available to managers who
apply their knowledge, experience and principles for
getting the desired results
12. Working with and through People
Working with people and getting organizational objectives
achieved through them
Decision-making
Involves selecting the most appropriate alternative solution
out of the several alternatives available
13. DELEGATION OF AUTHORITY
• Refers to the entrustment of responsibility
and authority to another
• And creation of accountability for
performance
• Refers to conferring of authority by one
person to another, usually a subordinate
14. Power to command and give
orders
Right to give orders or power
to command others
OFFICIAL
•Authority of superior
which he possesses
because of his official
position and placement
in the organizational
structure.
PERSONAL
•Which a person enjoys
because of his popularity,
good public relations,
excellent charismatic
personality
15. RESPONSIBILITY
• Obligation of a subordinate to perform the duty as
required by the superior
• Refers to such duties and activities which are assigned to
a position or to an executive
• Responsibility cannot be transferred
16. • When an executive delegates his authority to his
subordinate, he cannot delegate responsibility
• A manager is responsible for the performance of his
duties even though he may delegate his authority to
a subordinate for the performance of the same task
17. ACCOUNTABILITY
• Obligation on the part of subordinate to carry out the
responsibility by exercising authority
• Every subordinate is answerable to his superior for
the tasks assigned to him
18. •14 PRINCIPLES OF
14 PRINCIPLES OF
MANAGEMENT
MANAGEMENT
•HENRy FAyOL
HENRy FAyOL
19. •1.
1. DIVISION OF WORK
DIVISION OF WORK
•Specialization and specification of job
•People need specialization for effective performance
20. 2. AUTHORITY AND
2. AUTHORITY AND
RESPONSIBILITY
RESPONSIBILITY
•Balance between Authority and responsibility
•If anyone is assigned any duty he must be vested with
requisite authority to carry out his responsibility.
•Personnel must know what activities they are to undertake
and what results they have to show.
21. •3. DISCIPLINE
3. DISCIPLINE
•Without discipline in the organization it is difficult to operate.
•Self- imposed- springs from within the individual
•Command-imposed- through remuneration, warning,
suspension, demotion, etc
22. •4. UNITY OF COMMAND
4. UNITY OF COMMAND
•It means an employee should receive orders from one superior
only
23. 5. UNITY OF DIRECTION
5. UNITY OF DIRECTION
•There should be one plan for one unit
•Objective is important
24. •6. SUBORDINATION OF INDIVIDUAL
6. SUBORDINATION OF INDIVIDUAL
INTEREST TO GENERAL INTEREST
INTEREST TO GENERAL INTEREST
•The interest of the group should supersede that of the individual
•Common interest is above individual interest
25. 7. REMUNERATION OF
7. REMUNERATION OF
PERSONNEL
PERSONNEL
•Remuneration and methods of payment should
be fair
•Provide maximum satisfaction to the employee
and employer
27. 9. SCALOR CHAIN
9. SCALOR CHAIN
•Communication can be established through proper channel.
•Scalar chain was a very time consuming process.
•Henri Fayol suggested gang plank policy according to which
there was a provision of lateral communication.
28. •10. ORDER
10. ORDER
•Right person at the right job and right place for material,
machine and stock.
•Meaning right thing in the right place.
29. 11. EQUITY
11. EQUITY
•Every manager should be unbiased towards the officials.
•Personal liking and disliking should not be involved.
30. •12. STABILITY OF TENURE
12. STABILITY OF TENURE
•Tenure and term of appointment should be stable.
•There should be reasonable security of job.
•
31. 13. INITIATIVE
13. INITIATIVE
•Within the limits of authority and discipline the manager should
encourage their employees to take initiative for establishing
team work in the organization.
•14.
14. ESPRIT DE CORPS
ESPRIT DE CORPS
•Union is strength
36. Traits of a manager
Best Traits
Fair/just in decisions
Trusting/trusted at the same time
Caring & analytical in thought
Empowering & capable/responsible
Always punctual
38. MAIN AND SUBSIDIARY FUNCTIONS
MAIN AND SUBSIDIARY FUNCTIONS
OF MANAGEMENT
OF MANAGEMENT
MAIN FUNCTIONS SUBSIDIARY
FUNCTIONS
PLANNING
PLANNING COMMUNICATION
COMMUNICATION
ORGANISING
ORGANISING DECISION-MAKING
DECISION-MAKING
STAFFING
STAFFING INNOVATION
INNOVATION
DIRECTION
DIRECTION
CO-ORDINATION
CO-ORDINATION
MOTIVATION
MOTIVATION
CONTROL
CONTROL
39. PLANNING
PLANNING
• Planning is deciding in advance what to do, when and
how to do it
• It is the blue-print for future action
• Determination of objectives and goals of the organization
and laying down specific targets
• Planning is deciding in the present what to do in future
40. ORGANISING
ORGANISING
• It is a structure involving a large number of people
engaging themselves in a multiplicity of tasks
• Systematic and rational relationship with authority and
responsibility between individuals and groups
• It involves dividing the entire work into manageable units—
departmentation, delegation, decentralization, and span of
control
41. STAFFING
•The process of recruitment, selection, training &
development, placing, evaluating and developing people
can be called staffing
44. MOTIVATION
MOTIVATION
• A psychological technique of executing the plans and
policies through the efforts of others.
• It is through motivation that the manager inspires the
subordinates to do what he wants them to do.
45. CONTROL
CONTROL
• Controlling function brings to light the deviations, and
assists management to correcting those deviations.
• It involves the process of visualizing whether the activities
have been or are being performed in the same way as
contained in the plans, because any deviations will result in
inefficiency in the organization.
46. COMMUNICATION
COMMUNICATION
• The exchange of facts, ideas, opinions or emotions by two or
more persons is known as communication
• Constant communication with personnel helps management to
remain informed of their problems, difficulties and grievances
47. DECISION MAKING
• The Selection from Among Alternatives of a Course of
Action
• “Management means Decision-making”—Moore
48. INNOVATION
• Relates to research and development
• All big business houses have started research and
development departments to keep pace with modern
technique and up-to-date demand
