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    UNIT 1: INTRODUCTION TO MANAGEMENT: 8 hours Concept and Nature –Types of Managers- Responsibilities and skills of Professional Manager- Functions of Management – Fayol’s Principles of Management – Administration vs. Management– Management Process – Levels of Management – Approaches to the study of Management - Challenges of managing 21st century Corporations/Organisations.

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    UNIT 1: INTRODUCTION TO MANAGEMENT: 8 hours Concept and Nature –Types of Managers- Responsibilities and skills of Professional Manager- Functions of Management – Fayol’s Principles of Management – Administration vs. Management– Management Process – Levels of Management – Approaches to the study of Management - Challenges of managing 21st century Corporations/Organisations.

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    616 views36 pages

    UNIT-1 Introduction To Management

    Uploaded by

    24.7upskill Lakshmi V
    UNIT 1: INTRODUCTION TO MANAGEMENT: 8 hours Concept and Nature –Types of Managers- Responsibilities and skills of Professional Manager- Functions of Management – Fayol’s Principles of Management – Administration vs. Management– Management Process – Levels of Management – Approaches to the study of Management - Challenges of managing 21st century Corporations/Organisations.

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    of 36

    UNIT-1

    INTRODUCTION TO MANAGEMENT

    By

    Prof. Lakshmi V MBA, M.Com, M.Phil, NET-JRF,(PhD)


    Assistant Professor and Head
    Department of Commerce
    Acharya Institute of Graduate Studies
    Acharya Institutes, Bengaluru
    E-mail: [email protected]
    Mobile:9964005825
    Topics covered in this session
    • Introduction
    • Meaning
    • Definition
    • Concept of Management
    • Nature of Management
    a) Management as Art
    b) Management as Science
    c) Management as Profession
    BUSINESS
    • B=BUSY
    • U=UNIVERSAL
    • S=SALES
    • I=INVESTMENT
    • N=NEED
    • E=ECONOMY
    • S=SUPPLY
    • S=SATISFACTION
    Evolution of BUSINESS
    • https://youtu.be/REm0aqPvRb8

    • https://youtu.be/eUyRI66JkgQ
    Introduction and Meaning

    • Management is the attainment of


    organizational goals in an effective and
    efficient manner through planning, organizing,
    staffing, directing and controlling
    organizational resources. Organizational
    resources include men(human beings), money,
    machines and materials
    Definition
    • According to Mc Farland, "Management is
    defined for conceptual, theoretical and
    analytical purposes as that process by which
    managers create, direct, maintain and operate
    purposive organization through systematic, co-
    ordinated co-operative human effort
    Definition
    • Peter F. Drucker defines, "management is an
    organs- organs can be described and defined
    only through their functions”.

    • Henry Fayol, "To mange is to forecast and


    plan, to organize, to compound, to co-ordinate
    and to control."
    Conclusion from the definitions
    Management is the sum-total of all those activities that
    • (i) determine objectives, plans, policies and
    programmes;
    • (ii) secure men, material, machinery cheaply
    • (iii) put all these resources into operations through
    sound organization
    • (iv) direct and motivate the men at work,
    • (v) supervises and control their performance and
    • (iv) provide maximum prosperity and happiness for both
    employer and employees and public at large.
    Nature of management

    • Management as a Science

    • Management as Art

    • Management as Profession
    Management as a Science
    • Scientific Methods, Analysis, Observation
    • Experimentation
    • Mathematical Models
    • Not Pure or natural Science its Social Science
    • Behavioral Science
    In total its systematic study of knowledge
    Management as Art

    • Application of knowledge

    • Thinking Ability

    • Situational analysis

    • Leadership abilities
    Management as Profession

    • According to McFarland a profession possess the following


    characteristics :
    • (i) a body of principles, techniques, skills, and specialized
    knowledge;
    • (ii) formalized methods of acquiring training and experience;
    • (iii) the establishment of a representative organization with
    professionalization as its goal;
    • (iv) the formation of ethical codes for the guidance of
    conduct; and
    • (v) the charging of fees based on the nature of services
    CHARACTERISTICS OF MANAGEMENT

    • Management is goal oriented


    • Management is universal
    • Management is integrative force
    • Management is Social Process
    • Management is Multidisciplinary
    • Management is continuous process
    CHARACTERISTICS OF MANAGEMENT

    • Management is Intangible
    • Management is art as well as science
    • Management is economic activity
    • Management is step by step process
    • Management is system of authority
    Managers
    “Managers are organizational
    members who are responsible for
    the work performed by other
    organizational members”
    Levels of managers
    Functions of Managers
    • Planning the work
    • Proper and effective communication
    • Taking decisions
    • Encouraging team sprit
    • Delegating authority
    • Solving problems
    • Coordinating various individual efforts
    Functions of managers
    • Better utilization of work
    • Stimulating workers
    • Setting targets
    • Motivating sub-ordinates
    • Arranging training and development
    • Controlling the deviations
    • Maintain good human relations
    RESPONSIBILITIES OF MANAGERS
    • Responsibility towards customers
    • Responsibility towards Shareholders
    • Responsibility towards employees
    • Responsibility towards suppliers
    • Responsibility towards distributers and retailers
    • Responsibility towards industry and competition
    • Responsibility towards unions
    • Responsibility towards society
    • Responsibility towards government
    SKILLS OF PROFESSIONAL MANAGER

    • Conceptual skills
    • Human relation skills
    • Technical skills
    • Communication skills
    • Administrative skills
    • Leadership skills
    • Problem solving skills
    • Decision making skills
    FUNCTIONS OF MANAGEMENT
    • Planning
    • Organizing
    • Staffing
    • Directing
    • Controlling
    Henri Foyal’s 14 Principles of Management
    Management V/S Administration
    Management Process
    Approaches to study management
    • Scientific management approach
    • Administrative management approach
    • Human Relation approach
    • Social system approach
    • Decision theory approach
    • Management Science approach
    • Human behavioral approach
    • Mathematic or quantitative approach
    • System approach
    • Contingency or situational approach
    Scientific management approach
    A) Science not rule of thumb;
    • Each and every job and its method of doing it should be based
    on scientific study and analysis rather than on trial and error.
    • Each task should be scientifically planned.
    B) Harmony not Discord;
    • There should be healthy cooperation between employer and
    employees According to Taylor management should adopt an
    enlightened attitude and share the gains of productivity with
    workers.
    • Workers should perform their duty with discipline and loyalty.
    Administrative management approach
    • Firstly, they find out certain universal principles, which they think
    universally valid, as they are derived from experience of industrial
    organization.
    • Secondly, they believe that the principles they have develop are
    scientifically valid, as these principles are based on empirical
    observation. They considered that the application of such principles
    would ensure greater economy and efficiency in the organization.
    • Thirdly, they think about the structure of the administration or
    organization. They consider that without structure, organization
    cannot function. For them “Structure is a device through which the
    human beings working in an organization, are assigned the tasks and
    are related to each other. They believe that structure moulds the
    nature of human being according to the needs of organization.”
    Human Relation approach

    • 1.People are emotional rather than economic


    rational beings
    • 2.Organizations are co-operative, social
    systems rather than mechanical ones
    • 3.Organizations are composed of informal
    structures, rules and norms as well as formal
    practices and procedures
    Social system approach
    • This approach says management is a social
    system composed of people who work in
    cooperation.
    • Relationships exist between the external and
    internal environment of organisation.
    • There should be harmony between the goals
    of organisation and goals of the group.
    • Co-operation amongst the group is necessary.
    Decision theory approach
    • Specify objectives and criteria for making
    decisions
    • Developing alternatives
    • Analyzing and comparing alternatives
    • Select the best alternatives
    • Implement the chosen alternatives
    • Monitor the results to ensure tha
    • Desired results are achieved.
    Management Science approach
    Human behavioral approach
    • The behavioral school of management
    emphasized what the classical theorists ignored
    – the human element.
    • Behavioral theorists viewed organization from
    individual’s point of view.
    • It emphasizes individual attitudes and
    behaviors and group processes, and recognized
    the significance of behavioral processes in the
    workplace.
    Mathematic or quantitative approach
    • Aims at higher degree of precision and perfection
    by using mathematical and statistical tools.
    • Offers a systematic and scientific analysis and
    solution to problems.
    • Consistent use of logical reasoning to solve
    problems helps in reducing personal bias and
    intuition of managers.
    • Involves knowledge and skill of statistics ,
    engineering, electronics, accounting etc.
    System approach
    • A system approach is set of interrelated and
    inter dependent parts arranged in a manner that
    produces a unified whole.
    • The human body is a system with all the organs,
    muscles, bones and conscious that likes all of its
    parts.
    • In a company a group of division people working
    for a common goal or success. So this system for
    mainly approach to the management.
    Contingency or situational approach
    • Implies there is no “One best way” of managing
    ,it depends upon situations and circumstances.
    • It requires thorough knowledge of situational
    variables and external factors.
    • Widens the horizon of management from
    management theory, principles, techniques.
    • Calls for knowledge and analytical abilities on the
    part of managers.
    Challenges of managing 21st century organizations

    • Impact of globalization
    • Managing cross borders
    • Revolution of Information Technology
    • Security issues
    • Knowledge workers
    • Ethical issues
    • Social responsibilities
    • Ecological Challenges
    • Corporate strategy
    • Striving to eliminate internal problems

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