Management & Enterpreneurship

Important Points:
Introduction

to the subject A Business Scenario A five decade story of SSI in India Entrepreneurship Meaning & its Scope
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Important Points:
Entrepreneurship contribution to
big scale industries

Managing an Enterprise
Entrepreneur responsibilities

Important Points:
Organization goals

Projects of an Entrepreneur The Need of Management

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UNIT 1 - MANAGEMENT
Introduction

Meaning of the Management Importance of the Management

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It is all about a deal of 4 Ms Men,Money,Material & Machines Importance of the Management in two ways, 1. It Helps in growth of country 2. It is Dynamic & It is also life giving
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Preliminary Definition - 1
There is no universal definition for the Management. As per Mary Parker Follett it is Art of getting things done through people This definitions two weaknesses are, The word Art is simply half truth, which is not application of knowledge and also it doesnt show functions of Manager.

Preliminary Definition - 2

These weaknesses are covered in the next George R. Terrys definition saying ...

Management is a process consisting of planning, organizing, actuating and controlling, performed to determine and accomplish the objectives by the use of people & resources
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Management Category :

Management a Science

Management as Art
Management as Profession

Management & Administration

One approach Another approach Conclusive

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Management Functions :
Whatever

may be the objectives, Management is the process to achieve them. Achieving needs systematic functioning and their classifications. Even though there is conflict between the management writers towards classifying the functions from four to seven as per Luther Gulick it is Planning , Organizing, Staffing, Directing, Coordinating, Reporting and Budgeting 11

Management Functions:
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The same can be remembered with a keyword

POSDCORB
Organizing Staffing

Planning
Management Budgeting

Directing
Coordinating Reporting

Planning
Decision making advance and an action involving

4 important

Organizing
To

organize business well we need to satisfy the requirements in proper way.

Staffing

Adding up new staff and apprising the existing based on their skill is main function
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Directing
Leading the people towards the defines

objectives(communication, leadership & motivation)

Controlling

Measuring performance against plans and goals.

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Roles of Management:
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The standard 3 roles categorized are

Management

Interpersonal

Informational

Decisioanl

Levels of Management:
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3-standard types are

Top Line Mgr
Chairman, Director, President, vice-president, CEO
Finance mgr, sales mgr, mktg. mgr and other dept. heads.

Middle Line Mgr

First Line Mgr

Supervisor foreman and instructor

Levels and Skills

Top Level

Conceptual & Decision Skills

Human Skills Middle Level

Technical Skill First Line

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Early Management approach:

Psychological development Scientific Management Administrative Management Human relations Management

Development of Mgmt. a Example

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Modern Management Approach:

Behavioral approach Systems approach Quantitative approach Contingency approach

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Example