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Management

Management comprises directing and controlling a group of one or more people or


entities for the purpose of coordinating and harmonizing that group towards
accomplishing a goal. Management often encompasses the deployment and manipulation
of human resources, financial resources, technological resources, and natural resources.
Management can also refer to the person or people who perform the act(s) of
management.
The verb manage comes from the Italian maneggiare (to handle especially a horse),
which in turn derives from the Latin manus (hand). The French word mesnagement (later
mnagement) influenced the development in meaning of the English word management
in the 17th and 18th centuries.
Management has to do with power by position, whereas leadership involves power by
influence. Compare stewardship.

Functions of management
Management operates through various functions, often classified as planning, organizing,
leading/motivating and controlling.
Planning: deciding what needs to happen in the future (today, next week, next
month, next year, over the next five years, etc.) and generating plans for action.
Organizing: making optimum use of the resources required to enable the
successful carrying out of plans.
Leading/Motivating: exhibiting skills in these areas for getting others to play an
effective part in achieving plans.
Controlling: monitoring checking progress against plans, which may need
modification based on feedback.

Theoretical scope
Mary Parker Follett (18681933), who wrote on the topic in the early twentieth century,
defined management as "the art of getting things done through people". One can also
think of management functionally, as the action of measuring a quantity on a regular
basis and of adjusting some initial plan; or as the actions taken to reach one's intended
goal. This applies even in situations where planning does not take place. From this
perspective, Frenchman Henri Fayol considers management to consist of five functions:
1. planning
2. organizing
3. leading
4. co-ordinating
5. controlling
Some people, however, find this definition, while useful, far too narrow. The phrase
"management is what managers do" occurs widely, suggesting the difficulty of defining
management, the shifting nature of definitions, and the connection of managerial
practices with the existence of a managerial cadre or class.
One habit of thought regards management as equivalent to "business administration",
although this then excludes management in places outside commerce, as for example in
charities and in the public sector. Nonetheless, many people refer to university
departments which teach management as "business schools." Some institutions (such as
the Harvard Business School) use that name while others (such as the Yale School of
Management) employ the more inclusive term "management."
Speakers of English may also use the term "management" or "the management" as a
collective word describing the managers of an organization, for example of a corporation.
Human resource management
Operations management or production management
Strategic management
Marketing management
Financial management
Information technology management responsible for management information
systems

Nature of managerial work


In for-profit work, management has as its primary function the satisfaction of a range of
stakeholders. This typically involves making a profit (for the shareholders), creating
valued products at a reasonable cost (for customers), and providing rewarding
employment opportunities (for employees). In nonprofit management, add the importance
of keeping the faith of donors. In most models of management/governance, shareholders
vote for the board of directors, and the board then hires senior management. Some
organizations have experimented with other methods (such as employee-voting models)
of selecting or reviewing managers; but this occurs only very rarely.
In the public sector of countries constituted as representative democracies, voters elect
politicians to public office. Such politicians hire many managers and administrators, and
in some countries like the United States political appointees lose their jobs on the election
of a new president/governor/mayor. Some 2500 people serve at the pleasure of the United
States Chief Executive, including all of the top US government executives.
Public, private, and voluntary sectors place different demands on managers, but all must
retain the faith of those who select them (if they wish to retain their jobs), retain the faith
of those people that fund the organization, and retain the faith of those who work for the
organization. If they fail to convince employees of the advantages of staying rather than
leaving, they may tip the organization into a downward spiral of hiring, training, firing,
and recruiting. Management also has the task of innovating and of improving the
functioning of organizations.

The importance of control


At least two perspectives on role of control exist:
Top management expects to control everything, making all decisions, while
middle and lower managers implement decisions, and production workers operate
only as instructed
Top management does not decide the "right" way to do something, and lower-
level staff become involved in decision-making processes.
Some companies use "slopey shoulder syndrome" style management, where
people will take credit for when things go right. However when things go wrong
they will pass the blame and responsibility to people either below or adjacent in
the company structure.

Managerial levels/hierarchy
The management of a large organisation may have three levels:
Senior management (or "top management" or "upper management")
Middle management
Low-level management, such as supervisors or team-leaders

Contribution of henry foyal


Foyal found that activities of an industrial organisation could be divided into six group:
Technical (relatingto production)
Commercial (buying, selling, exchange)
Financial ( protection of property, property, person)
Security (protection of property, person)
Accounting (including statistics )
Managerial (plannning, organizing, command, coordination and control
Scientific management
Scientific management, Taylorism or the Classical Perspective is a method in management theory which
determines changes to improve labour productivity. The idea first coined by Frederick Winslow Taylor in his
The Principles of Scientific Management (Online version) who believed that decisions based upon tradition
and rules of thumb should be replaced by precise procedures developed after careful study of an individual
at work. In management literature today, the greatest use of the concept of Taylorism is as a contrast to a
new, improved way of doing business. In political and sociological terms, Taylorism can be seen as the
division of labour pushed to its logical extreme, with a consequent de-skilling of the worker and
dehumanisation of the workplace.

General approach, contributions and elements
General approach

Standard method for performing each job.

Select workers with appropriate abilities for each job.

Training for standard task.

Planning work and eliminating interruptions.

Wage incentive for increase output.

Contributions

Scientific approach to business management and process improvement

Importance of compensation for performance

Began the careful study of tasks and jobs

Importance of selection and training

Elements

Labour is defined and authority/responsibility is legitimised/official

Positions placed in hierarchy and under authority of higher level

Selection is based upon technical competence, training or experience

Actions and decisions are recorded to allow continuity and memory

Management is different from ownership of the organization

Managers follow rules/procedures to enable reliable/predictable behaviour

Principles of scientific management

First. They develop a science for each element of a man's work, which replaces the old
rule-of-thumb method.

Second. They scientifically select and then train, teach, and develop the workman,
whereas in the past he chose his own work and trained himself as best he could.
Third. They heartily cooperate with the men so as to insure all of the work being done in
accordance with the principles of the science which has been developed.

Fourth. There is an almost equal division of the work and the responsibility between the
management and the workmen. The management take over all work for which they are
better fitted than the workmen, while in the past almost all of the work and the greater
part of the responsibility were thrown upon the men.

14 Principles of Management
(Henri Fayol)
1. Division of Work. Specialization allows the individual to build up
experience, and to continuously improve his skills. Thereby he can be more
productive.
2. Authority. The right to issue commands, along with which must go the
balanced responsibility for its function.
3. Discipline. Employees must obey, but this is two-sided: employees will
only obey orders if management play their part by providing good leadership.
4. Unity of Command. Each worker should have only one boss with no
other conflicting lines of command.
5. Unity of Direction. People engaged in the same kind of activities must
have the same objectives in a single plan. This is essential to ensure unity and
coordination in the enterprise. Unity of command does not exist without unity of
direction but does not necessarily flows from it.
6. Subordination of individual interest (to the general interest).
Management must see that the goals of the firms are always paramount.
7. Remuneration. Payment is an important motivator although by analyzing
a number of possibilities, Fayol points out that there is no such thing as a perfect
system.
8. Centralization (or Decentralization). This is a matter of degree depending
on the condition of the business and the quality of its personnel.
9. Scalar chain (Line of Authority). A hierarchy is necessary for unity of
direction. But lateral communication is also fundamental, as long as superiors
know that such communication is taking place. Scalar chain refers to the number
of levels in the hierarchy from the ultimate authority to the lowest level in the
organization. It should not be over-stretched and consist of too-many levels.
10. Order. Both material order and social order are necessary. The former
minimizes lost time and useless handling of materials. The latter is achieved
through organization and selection.
11. Equity. In running a business a combination of kindliness and justice is
needed. Treating employees well is important to achieve equity.
12. Stability of Tenure of Personnel. Employees work better if job security
and career progress are assured to them. An insecure tenure and a high rate of
employee turnover will affect the organization adversely.
13. Initiative. Allowing all personnel to show their initiative in some way is a
source of strength for the organization. Even though it may well involve a
sacrifice of personal vanity on the part of many managers.
14. Esprit de Corps. Management must foster the morale of its employees.
He further suggests that: real talent is needed to coordinate effort, encourage
keenness, use each persons abilities, and reward each ones merit without
arousing possible jealousies and disturbing harmonious relations.

What is Management? Five elements


Fayol's definition of management roles and actions distinguishes between Five
Elements:
1. Prevoyance. (Forecast & Plan). Examining the future and drawing up a
plan of action. The elements of strategy.
2. To organize. Build up the structure, both material and human, of the
undertaking.
3. To command. Maintain the activity among the personnel.
4. To coordinate. Binding together, unifying and harmonizing all activity
and effort.
5. To control. Seeing that everything occurs in conformity with established
rule and expressed command.

Usage of the 14 Management Principles. Applications


Change and Organization.
Decision-making.
Skills. Can be used to improve the basic effectiveness of a manager.
Understand that management can be seen as a variety of activities, which
can be listed and grouped.
Planning

Planning is the (psychological) process of thinking about the activities required to create
a desired future on some scale. This thought process is essential to the creation and
refinement of a plan, or integration of it with other plans. The term is also used to
describe the formal procedures used in such an endeavor, such as the creation of
documents, diagrams, or meetings to discuss the important issues to be addressed, the
objectives to be met, and the strategy to be followed. Beyond this, planning has a
different meaning depending on the political or economic context in which it is used.

1.1 Purpose of Plan


Just as no two organizations are alike, so also their plans. It is therefore important to
prepare a plan keeping in view the necessities of the enterprise. A plan is important aspect
of business. It serves following three critical functions: Helps management to clarify,
focus and research their businesses or project's development and prospects. Provides a
considered and logical framework within which a business can develop and pursue
business strategies over the next three to five years. Offers a benchmark against which
actual performance can be measured and reviewed.
1.2 How a plan should be?
A plan should be a realistic view of the expectations. Depending upon the activities, a
plan can be Long Range, Intermediate range and of Short range. It the framework within
which it must operate. For management seeking external support, the plan is the most
important document and key to growth. Preparation of a comprehensive plan will not
guarantee success, but lack of a sound plan will, almost certainly, ensures failure.
1.3 Importance of the planning Process:
A plan can play a vital role in helping to avoid mistakes or recognize hidden
opportunities. Preparing a satisfactory plan of the organization is essential. The planning
process enables management to understand more clearly what they want to achieve, and
how and when they can do it.
A well-prepared business plan demonstrates that the managers know the business and that
they have thought through its development in terms of products, management, finances,
and most importantly, markets and competition.
1.4 Preparing Plan:
Planning is not done off hand. It is prepared after careful and extensive research. For a
comprehensive business plan, management has to
Clearly define the target / goal in writing. 1. It should be set by person having authority
2. The goal should be realistic 3. Specific 4. Acceptability 5. Easily measurable Identify
all the main issues, which need to be addressed. Review past performance. Decide
budgetary requirement Focus on matters of strategic importance. What are
requirements and how will it be met. What will be the likely length of the plan and its
structure? Identify Shortcomings in the concept and gaps. Strategies for
implementation. Review periodically.

In organizations
Planning is also a management function, concerned with defining goals for future
organizational performance and deciding on the tasks and resources to be used in order to
attain those goals. To meet the goals, managers may develop plans such as a business
plan or a marketing plan. Planning always have a purpose. The purpose may be
achievement of certain goals or targets. The planning helps to achieve these goals or
target by using the available time and resources. To minimize the timing and resources
also require proper planning.

Strategic management

Strategic management is the art and science of formulating, implementing and


evaluating cross-functional decisions that will enable an organization to achieve its
objectives. It is the process of specifying the organization's objectives, developing
policies and plans to achieve these objectives, and allocating resources to implement the
policies and plans to achieve the organization's objectives. Strategic management,
therefore, combines the activities of the various functional areas of a business to achieve
organizational objectives. It is the highest level of managerial activity, usually formulated
by the Board of directors and performed by the organization's Chief Executive Officer
(CEO) and executive team. Strategic management provides overall direction` to the
enterprise and is closely related to the field of Organization Studies.
Strategic management is an ongoing process that assesses the business and the industries
in which the company is involved; assesses its competitors and sets goals and strategies
to meet all existing and potential competitors; and then reassesses each strategy annually
or quarterly [i.e. regularly] to determine how it has been implemented and whether it has
succeeded or needs replacement by a new strategy to meet changed circumstances, new
technology, new competitors, a new economic environment., or a new social, financial, or
political environment. (Lamb, 1984:ix)
Strategic management is a combination of three main processes namely; 1) strategy
formulation 2) strategy implementation and 3) strategy evaluation
Strategy formulation involves:
Performing a situation analysis, self-evaluation and competitor analysis: both
internal and external; both micro-environmental and macro-environmental.
Concurrent with this assessment, objectives are set. This involves crafting vision
statements (long term view of a possible future), mission statements (the role that
the organization gives itself in society), overall corporate objectives (both
financial and strategic), strategic business unit objectives (both financial and
strategic), and tactical objectives.
These objectives should, in the light of the situation analysis, suggest a strategic
plan. The plan provides the details of how to achieve these objectives.

This three-step strategy formulation process is sometimes referred to as determining


where you are now, determining where you want to go, and then determining how to get
there. These three questions are the essence of strategic planning. SWOT Analysis: I/O
Economics for the external factors and RBV for the internal factors.
Strategy implementation involves:
Allocation of sufficient resources (financial, personnel, time, technology support)
Establishing a chain of command or some alternative structure (such as cross
functional teams)
Assigning responsibility of specific tasks or processes to specific individuals or
groups
It also involves managing the process. This includes monitoring results,
comparing to benchmarks and best practices, evaluating the efficacy and
efficiency of the process, controlling for variances, and making adjustments to the
process as necessary.
When implementing specific programs, this involves acquiring the requisite
resources, developing the process, training, process testing, documentation, and
integration with (and/or conversion from) legacy processes.

Strategy evaluation involves:


Measuring the effectiveness of the organizational strategy.

General approaches
In general terms, there are two main approaches, which are opposite but complement
each other in some ways, to strategic management:

The Industrial Organization Approach

based on economic theory deals with issues like competitive rivalry, resource
allocation, economies of scale
assumptions rationality, self discipline behaviour, profit maximization
The Sociological Approach
deals primarily with human interactions

assumptions bounded rationality, satisfying behaviour, profit sub-optimality. An


example of a company that currently operates this way is Google

Strategic management techniques can be viewed as bottom-up, top-down, or


collaborative processes. In the bottom-up approach, employees submit proposals to their
managers who, in turn, funnel the best ideas further up the organization. This is often
accomplished by a capital budgeting process. Proposals are assessed using financial
criteria such as return on investment or cost-benefit analysis. The proposals that are
approved form the substance of a new strategy, all of which is done without a grand
strategic design or a strategic architect. The top-down approach is the most common by
far. In it, the CEO, possibly with the assistance of a strategic planning team, decides on
the overall direction the company should take. Some organizations are starting to
experiment with collaborative strategic planning techniques that recognize the emergent
nature of strategic decisions.

The strategy hierarchy


In most (large) corporations there are several levels of strategy. Strategic management is
the highest in the sense that it is the broadest, applying to all parts of the firm. It gives
direction to corporate values, corporate culture, corporate goals, and corporate missions.
Under this broad corporate strategy there are often functional or business unit strategies.
Functional strategies include marketing strategies, new product development strategies,
human resource strategies, financial strategies, legal strategies, and information
technology management strategies. The emphasis is on short and medium term plans and
is limited to the domain of each departments functional responsibility. Each functional
department attempts to do its part in meeting overall corporate objectives, and hence to
some extent their strategies are derived from broader corporate strategies.
Many companies feel that a functional organizational structure is not an efficient way to
organize activities so they have reengineered according to processes or strategic business
units (called SBUs). A strategic business unit is a semi-autonomous unit within an
organization. It is usually responsible for its own budgeting, new product decisions,
hiring decisions, and price setting. An SBU is treated as an internal profit centre by
corporate headquarters. Each SBU is responsible for developing its business strategies,
strategies that must be in tune with broader corporate strategies.
The lowest level of strategy is operational strategy. It is very narrow in focus and
deals with day-to-day operational activities such as scheduling criteria. It must operate
within a budget but is not at liberty to adjust or create that budget. Operational level
strategy was encouraged by Peter Drucker in his theory of management by objectives
(MBO). Operational level strategies are informed by business level strategies which, in
turn, are informed by corporate level strategies. Business strategy, which refers to the
aggregated operational strategies of single business firm or that of an SBU in a
diversified corporation refers to the way in which a firm competes in its chosen arenas.
Corporate strategy, then, refers to the overarching strategy of the diversified firm. Such
corporate strategy answers the questions of "in which businesses should we compete?"
and "how does being in one business add to the competitive advantage of another
portfolio firm, as well as the competitive advantage of the corporation as a whole?"
Since the turn of the millennium, there has been a tendency in some firms to revert to a
simpler strategic structure. This is being driven by information technology. It is felt that
knowledge management systems should be used to share information and create common
goals. Strategic divisions are thought to hamper this process. Most recently, this notion of
strategy has been captured under the rubric of dynamic strategy, popularized by the
strategic management textbook authored by Carpenter and Sanders. This work builds on
that of Brown and Eisenhart as well as Christensen and portrays firm strategy, both
business and corporate, as necessarily embracing ongoing strategic change, and the
seamless integration of strategy formulation and implementation. Such change and
implementation are usually built into the strategy through the staging and pacing facets.

] Reasons why strategic plans fail


There are many reasons why strategic plans fail, especially:
Failure to understand the customer
Why do they buy
Is there a real need for the product
inadequate or incorrect marketing research
Inability to predict environmental reaction
What will competitors do
Fighting brands
Price wars
Will government intervene
Over-estimation of resource competence
Can the staff, equipment, and processes handle the new strategy
Failure to develop new employee and management skills
Failure to coordinat
Reporting and control relationships not adequate
Organizational structure not flexible enough
Failure to obtain senior management commitment
Failure to get management involved right from the start
Failure to obtain sufficient company resources to accomplish task
Failure to obtain employee commitment
New strategy not well explained to employees
No incentives given to workers to embrace the new strategy
Under-estimation of time requirements
No critical path analysis done
Failure to follow the plan
No follow through after initial planning
No tracking of progress against plan
No consequences for above
Failure to manage change
Inadequate understanding of the internal resistance to change
Lack of vision on the relationships between processes, technology and
organization
Poor communications
Insufficient information sharing among stakeholders
Exclusion of stakeholders and delegates

SWOT analysis
SWOT Analysis, is a strategic planning tool used to evaluate the Strengths, Weaknesses,
Opportunities, and Threats involved in a project or in a business venture. It involves
specifying the objective of the business venture or project and identifying the internal and
external factors that are favorable and unfavorable to achieving that objective. The
technique is credited to Albert Humphrey, who led a research project at Stanford
University in the 1960s and 1970s using data from the Fortune 500 companies.

Strategic and Creative Use of S.W.O.T Analysis

Strategic Use: Orienting SWOTs to An Objective


If SWOT analysis does not start with defining a desired end state or objective, it runs the
risk of being useless. A SWOT analysis may be incorporated into the strategic planning
model. An example of a strategic planning technique that incorporates an objective-
driven SWOT analysis is SCAN analysis. Strategic Planning, including SWOT and
SCAN analysis, has been the subject of much research.
If a clear objective has been identified, SWOT analysis can be used to help in the pursuit
of that objective. In this case, SWOTs are:
Strengths: attributes of the organization that are helpful to achieving the objective.
Weaknesses: attributes of the organization that are harmful to achieving the
objective.
Opportunities: external conditions that are helpful to achieving the objective.
Threats: external conditions that are harmful to achieving the objective.

.
Identification of SWOTs is essential because subsequent steps in the process of planning
for achievement of the selected objective are to be derived from the SWOTs.
First, the decision makers have to determine whether the objective is attainable, given the
SWOTs. If the objective is NOT attainable a different objective must be selected and the
process repeated.

Creative Use of SWOTs: Generating Strategies


If, on the other hand, the objective seems attainable, the SWOTs are used as inputs to the
creative generation of possible strategies, by asking and answering each of the following
four questions, many times:
How can we Use each Strength?
How can we Stop each Weakness?
How can we Exploit each Opportunity?
How can we Defend against each Threat?

Ideally a cross-functional team or a task force that represents a broad range of


perspectives should carry out the SWOT analysis. For example, a SWOT team may
include an accountant, a salesperson, an executive manager, an engineer, and an
ombudsman.

Internal and external factors


The aim of any SWOT analysis is to identify the key internal and external factors that are
important to achieving the objective. SWOT analysis groups key pieces of information
into two main categories:
Internal factors The strengths and weaknesses internal to the organization.
External factors The opportunities and threats presented by the external
environment.

The internal factors may be viewed as strengths or weaknesses depending upon their
impact on the organization's objectives. What may represent strengths with respect to one
objective may be weaknesses for another objective. The factors may include all of the
4P's; as well as personnel, finance, manufacturing capabilities, and so on. The external
factors may include macroeconomic matters, technological change, legislation, and socio-
cultural changes, as well as changes in the marketplace or competitive position. The
results are often presented in the form of a matrix.
SWOT analysis is just one method of categorization and has its own weaknesses. For
example, it may tend to persuade companies to compile lists rather than think about what
is really important in achieving objectives. It also presents the resulting lists uncritically
and without clear prioritization so that, for example, weak opportunities may appear to
balance strong threats.
It is prudent not to eliminate too quickly any candidate SWOT entry. The importance of
individual SWOTs will be revealed by the value of the strategies it generates. A SWOT
item that produces valuable strategies is important. A SWOT item that generates no
strategies is not important.

Avoiding Errors

Conducting a SWOT analysis before defining and agreeing upon an objective (a desired
end state). SWOTs should not exist in the abstract. They can exist only with reference to
an objective. If the desired end state is not openly defined and agreed upon, the
participants may have different end states in mind and the results will be ineffective.

Opportunities external to the company are often confused with strengths internal to the
company. They should be kept separate.

SWOTs are sometimes confused with possible strategies. SWOTs are descriptions of
conditions, while possible strategies define actions. This error is made especially with
reference to opportunity analysis. To avoid this error, it may be useful to think of
opportunities as "auspicious conditions".
Examples of SWOTs

Strengths and weaknesses


Resources: financial, intellectual, location
Cost advantages from proprietary know-how
Creativity/ ability to develop new products
Valuable intangible assets: intellectual capital
Competitive capabilities

Opportunities and threats


Takeovers
Market Trends
Economic condition
Mergers
Joint ventures
Strategic alliances
Expectations of stakeholders
Technology
Public expectations
Competitors and competitive actions
Poor Public Relations Development
Criticism (Editorial)
Global Markets

Environmental conditions

Use of SWOT Analysis


The usefulness of SWOT analysis is not limited to profit-seeking organizations. SWOT
analysis may be used in any decision-making situation when a desired end-state
(objective) has been defined. Examples include: non-profit organizations, governmental
units, and individuals. SWOT analysis may also be used in pre-crisis planning and
preventive crisis management.

Corporate planning
As part of the development of strategies and plans to enable the organization to achieve
its objectives, then that organization will use a systematic/rigorous process known as
corporate planning. SWOT alongside PEST/PESTLE can be used as a basis for the
analysis of business and environmental factors.[1]

Set objectives defining what the organisation is intending to do

Environmental scanning
Internal appraisals of the organisations SWOT, this needs to include an assessment of the
present situation as well as a portfolio of products/services and an analysis of the
product/service life cycle

Analysis of existing strategies, this should determine relevance from the results
of an internal/external appraisal. This may include gap analysis which will look at
environmental factors
Strategic Issues defined key factors in the development of a corporate plan
which needs to be addressed by the organisation
Develop new/revised strategies revised analysis of strategic issues may mean
the objectives need to change
Establish critical success factors the achievement of objectives and strategy
implementation
Preparation of operational, resource, projects plans for strategy implementation
Monitoring results mapping against plans, taking corrective action which may
mean amending objectives/strategies.

Human resources
A SWOT carried out on a Human Resource Department may look like this:

Strengths Weaknesses Opportunities Threats

Developed Reactive rather than New management HR contribution not


techniques for pro-active; needs to team, wanting to recognised by top
dealing with major be asked rather than improve overall management who by-
areas of HR, job developing organizational pass it by employing
evaluation, unsolicited ideas effectiveness through external consultants
psychometric testing organizational
and basic training development and
cultural management
programmes

A SWOT carried by an individual manager could look like this:

Strengths Weaknesses Opportunities Threats

Enthusiasm, energy, Not good at achieving


imagination, results through
expertise in subject undirected use of
area, excellent track personal energies,
record in specialized trouble at expressing
area themselves orally and
on paper may have
ideas but these come
over as incoherent,
management
experience and
expertise limited

Principle of motivation
Principle of exception-
Principle of participation-taking employ suggestion
Managerial qualities
Educational qualification
Technical knowledge
Health
Morale
Work experience
Admin power
Knowledge about the company
Creativity
Ability to instruct & inspire
Ability to communicate
Listener
Cooperation
To judge the people
Leadership qualities
Social responsibilities
Human relation

New classical theory


Human relation

Moder mgmtt theory


Quantative approach
System approach
Contingency

AIMS AND OBJECTIVE OF SCIENTIFIC MANAGEMENT

To determine industrial & market trends


To assure employement secutity to the employee
To obtain gain for the concern and its employees
To improve the living standards of workers