Understand the meaning and characteristics of management Enumerate the objectives, levels and functions of management Discuss the roles of management Differentiate between management and administration Debate whether management is science, art or profession List the challenges facing management
Principles of Management Author: Pravin Durai
What is management?
Management is all about managing people effectively and
It is a goal-directed activity, It is a decision-making activity, It involves effective integration and utilization, It is practiced at different levels of an organization, It is universal in character and It is a group-based activity.
productivity goals of the firm To develop an environment which facilitates minimum use of physical and human resources to achieve maximum output To build up a mutually beneficial relationship between employers and employees To ensure stability and growth to the operations of the organization To work continuously toward the betterment of the society by satisfying organization’s social responsibilities in an efficient and fair manner
highest level of an organization are usually called top managers. These managers are generally few in numbers but vested with enormous powers Middle Management- Managers belonging to this category are located in between the top management and front-line management. They get goals, orders and directions from the top-level management and implement them through front-line managers Frontline Management- These managers are positioned at the bottom of the managerial hierarchy. They act as the liaison between the management and the workers.
Production management Marketing management Financial management Human resource management
Principles of Management Author: Pravin Durai
Managerial process or functions Planning: It forms the basis and provides direction for other managerial functions Planning helps an organization in formulating clear cut objectives and determining the best course
of action for achieving them Organizing: It involves arrangement and allocation of necessary physical and human resources for achieving the goals of the firm Staffing: This function involves the selection of right person at the right time for the right position at the right cost. Managers may do staffing function jointly with the HR managers or alone in the absence of an exclusive HR department. Leading(Directing): Leading aims at positively influencing the behaviour of subordinates. It involves activities like directing, communicating with and motivating the employees. Controlling: This function involves the verification of the efficiency of the individuals and groups in accomplishing the organizational plans and goals by means of follow up measures.
Principles of Management Author: Pravin Durai
Managerial roles
i. Interpersonal roles- examples: Figure head, leader and
Objectives and policies Fulfillment of those objectives and formulations are the top plans is the priority of the management priorities It is a top level activity Middle and supervisory level activity
Planning and organizing are Controlling and employee motivation
the essential functions of are the important functions of administration management Conceptual skills Technical skills It consists of people who act It Consists of people who are on behalf of the capital professionals in their area of operations holders of the enterprises and employed by the organization Influenced by external factors Influenced by internal factor
Associated with non-business Associated with business enterprises
determining goals to be accomplished in the future. It may involve studying the internal and external environment of an organization Steps in the Strategic Management Process Determination of Vision and Mission Analysing the Environment Strategy Formulation Strategy Implementation Performance Evaluation