PRINCIPLES OF MANAGEMENT

Faculty: Prof. Ankur Srivastava Email id: ankurs.ibshyd@gmail.com

Office: E112 (IBS CAMPUS) Mob: 9666464971

FOR Consumption Of Section B Of POM (B.Tech-3rd sem.) only. DO NOT DISTRIBUTE.

Introduction to Management
Chapter 1

What is Management?
Process of designing and maintaining an environment in which individuals, working together as groups efficiently and effectively accomplish selected aims

Efficiency and Effectiveness: Whats the difference?

Effectively: Correctly Efficiently: More productively

Q. You have designed a new water pump which pumps out more water than other water pumps using same resources (time and electricity). What purpose does this pump serve? A) Efficiency B) Effectiveness Q. You have designed a new weighing machine which has precision up to .000001 milligram. What purpose does this weighing machine serve? A) B) Efficiency Effectiveness

Roles of a Manager
Figure head Leader Spokesman Recipient Disseminator Entrepreneur Disturbance handler Resource allocator Negotiator

Managerial Skills
Technical Skill Human Skill Conceptual Skills (theoretical skills) Design Skills

DICTUM
Q1) Management is a science or art?
Management knowledge is science Management practice is art
Principles: Fundamental Truths Techniques: Ways of doing things

Approaches to Management
Case study based approach Interpersonal behavior Group behavior Co-operative social systems Socio technical systems Decision theory approach Systems approach Mathematical approach Contingency approach Managerial roles approach

Functions of Managers
Planning: Setting missions and objectives Organizing: Establishing organizational structure and roles to the members Staffing: Recruiting and de-recruiting Leading: Influencing people Controlling: Measuring performance against goals Co-ordinating: Interdepartmental interpersonal co-ordination

Management and Society

Chapter 2

External Environment
Political Economic Social Technological Ecology Legal

Kinds of Societies
Pluralistic: Organized groups, no group exerts in-ordinate pressure Implications of operating in pluralistic society? Monistic: Single group exerts power over all other groups

Implications of pluralistic society to business

Business power is kept in balance Business interest can be widened by joining various groups Participation in projects with other groups Increases awareness about what others are doing

Organizations and Society

Social Responsibility: Seriously considering the impact of companys actions on society Social Responsiveness: The ability of corporation to relate its operations and policies to social environment in ways that are mutually beneficial to company and society

Examples of Social Responsiveness initiatives? E-Choupal by ITC

How should corporations behave?

Proactive instead of reactive Ex: TISS

Include social responsiveness as a part of evaluation where-ever possible

Social Audit
A commitment to systematic assessment of and reporting on some meaningful definable domain of company activities that have social impact

Some components of Corporate Social Audit Child labor, Forced labor. Health & Safety. Freedom of association and right to bargain. Discrimination. Disciplinary practices. Working hours and Environment. Compensation. Management Systems.

Ethics in Managing
Ethics = Moral Duty Business Ethics Advertising Social Responsibilities Corporate Behavior

Theories of Ethics
Utilitarian Theory: Greatest good to greatest number of people Theory of rights: All people of have basic rights

Theory of justice: Fairness, equality and impartiality

Institutionalizing Ethics
Teach Ethics to Managers Establish code of ethics Set of principles that guide ethical behavior Appoint ethics committee

Thank you..