Principles of Management

• Every business needs to plan to achieve future success
• Decision-makers are responsible for the consequences of their choices
• Bradford and Johnson define management as an intangible part of production residing in people, involving mental processes, desires, and willpower
• Economically, management is a production factor alongside land, labor, and capital
• Management constitutes a system of authority
• Sociologists view management as a class and status system
• Newman and Summer consider management a process of organizing, planning, leading, and controlling

Organization

• Organization involves task assignment, coordination, and balancing different parts of an enterprise

Planning

• Planning sets goals, objectives, and targets
• Delineates mechanisms to achieve them across the organization

Leading

• Leading integrates employee needs
• Coordinates with departments and the total organization
• Effective leading requires clear direction, cooperation, high standards, discipline, authority, power, and influence

Controlling

• Controlling measures performance against plans
• Narrows the gap between planned and actual results
• Includes monitoring and corrective actions
• Management is a complex, integrated, and dynamic process
• Management can be viewed as an economic resource, a system of authority, or a class/elite

Nature of Management

• Management is a universal process present wherever there is any human activity
• Efficient management is essential for achieving company objectives
• Qualified and efficient managers are vital for using labor and capital
• The primary goal of management is to accomplish enterprise objectives
• Goals should be realistic and attainable
• Managers set realizable objectives and orchestrate action
• Requires support from all management levels
• All human and material resources should be coordinated for maximum productivity
• Lack of coordination results in chaos
• Management must adapt to changes in the business environment
• Management involves dealing with individuals with varying sensitivities and dynamism
• Society influences managerial action, and vice versa
• Managers should contribute to society through charity functions, sports, and donations
• Clear lines of command, delegation, authority, and responsibility are necessary at all levels of decision-making
• Essential for individual understanding of expectations and reporting lines
• Managers need managerial knowledge, training, and adherence to ethical conduct
• The management process is a series of actions towards an end

Management as a Process

• As a process, management is a series of inter-related functions
• George R. Terry states management is a distinct process of planning, organizing, actuating, and controlling to achieve objectives via resources
• Management consists of three aspects: social process, integrating process, and continuous process

Management as a Social Process

• Management focuses on developing relationships among people
• Productive and useful interactions help in obtaining organizational goals

Management as an Integrating Process

• Management combines human, physical, and financial resources for organizational purposes
• Essential for harmony among factors

Management as a Continuous Process

• Management is ongoing
• It identifies and solves problems continuously

Significance of Management

• Management arranges production factors
• Assembles and organizes resources
• Integrates resources effectively to accomplish goals
• Directs group efforts towards pre-set goals

Achieving Group Goals

• Clearly defined objectives prevent wastage
• Management converts disorganized resources into useful enterprises toward goal attainment

Optimum Utilization of Resources

• Management productively uses all physical and human resources
• Efficient resource use due to management efficacy
• Maximizes use of scarce resources by choosing the best alternative

Reduced costs

• Achieving max results through minimum input and planning
• Best combination of resources aids in cost reduction

Establishes Sound Organization

• Preventing overlapping in efforts
• Establishes authority with effective responsibility

Establishes Equilibrium

• Surviving in a changing envinronment
• Adapting to changing societal and market needs

Essentials for Prosperity of Society

• Improved economic production
• Enhanced welfare
• Reduced resource wastage
• Increased standards as a result of efficient management

Scope/Branches of Management

• An all pervasive function The scope covers the activities in a particular field:
• Planning
• Organization
• Staffing
• Directing
• Coordinating
• Control

Operational aspects

• Production Management: focuses use creation of utilities
• Marketing Management: focuses on the transfer of goods and services
• Finanacial Management: focuses on fund procurement of utilisation
• Personnel Management: focuses on the control and use of manpower
• Office Management: focuses on planning of business objectives

Function of Management

• Consists of planning
• Organising
• Directing
• Controlling
• Staffing

Five Functions of Management

• Planning: Involves thinking and forseeing the future
• Organisation: requires a formal structure
• Staffing: function of retaining a suitable work force
• Directing: concern with communication, motivation anf supervision
• Controlling: ensure events do not deviate from arrangements

Management as Science, Art and Profession

• Some believe management is a science due to wel tested principles
• Others see it as an art due to more experience
• Some view it as a growing direction

Management as a Science

• Is a systematic body of knowledge with facts and events

System of Knowledge

• Acquiring knowledge of science with management

Scientific Principles

• Scientist observe logically with principle theories

Based on repeated Experiments

• Scientists test principles under different conditions

Universal Validity

• Principles of managemnt modified in different circumstances

Replication is Possible

• Managers researching diffirent ways to use human behaviour

Management as an Art

• Systematic knowledge of skill and practive to get prefection

Systemic knowledge vs Theoretical

• Acquiring knowledge in management also, systematic studies

Personalised Application

• Artist use pre existing personal kills and implement knowledge

Based on creative Practices

• Regular practice with artistic creativity

Management: As Science and Art

• A form of well organised body of knowledge

As a profession

• By specialised knowledge and training

Well Defined body of Knowledge

• Practices of systematic knowledge helps professionals

Restricted Entry

• Doctors only enter with MbbE degree
• No restriction on appointment

Presence of professional Associations

• Association are established and every professional has to register

Existence of Ethical Codes

• By ethical codes fixed by professional association

Service Motive

• The basic move is to serve clients with dedication

Levels of Management

• Refers to the demarcation of managerial positions in an organisation
• The term increases in size as workforce increases

Levels

• Admin/Top
• Executory/Middle
• Managers/ first line

Roles of managements

• Executive coaching
• Performance
• Emotional intel

Top Level

• Contains Board of directors and managing directors
• Ultimate source of authority
• Devoes time in planning and coordination

Summarised Roles as

• Objective and broad policies
• Instruction on budget and procedures
• Strategic plan, policies of enterprise
• Apporinting for middle managment
• Guiding and direction

Middle Level

• Branch responsible to the management for functioning
• Organisation and direction functions

Role in

• Policies in accordance to plans
• Support system for organizations
• Employment and training
• Report and top level data
• Eval junior managers to improve performance

Lower Level

• Supervision and operation level
• Direction and controlling management
• Supervision relates to executives over seeing employees

Roles contain

• Assignment of jobs to workers
• Instructor on quality
• solving grievances

Development of Management Thought

Management as a theory on the development

• Classic school
• Behavior school
• quantitive school
• system school
• contingency school

Classic school

• Way to manage work and organisations efficiently

Scientific Management

• Systemic study of methods to improve efficacy
• Frederick W Taylor main propnent
• Scientific selection based on qualification
• Cooperation between worker/managment
• Fair performance standard

Administrative Management

• General theory
• Consiting of functions termed planning, organising ect..
• Principles of maxims in work
• Authority and Repsonsbibility
• Unity of comman an ddirection

Bureacratic Management

• Focus on the ideal form of organization
• Many early organisations were inefficiently managed
• Formed the basis of modern form of organisation

2. BEHAVIORAL SCHOOL

• Trying to understad human behavior

(a) Human Relations

• Hawthorne, Elton Mayo major contributors
• 3 major conciusions are attitude in work related to productivity, important factor in increasing job satisfaction
• Motavating and leading

(b) Behavioral Science

• conceptual and analyitical
• Understadning human behavior in the work plaxe
• Focus on attributes and attitudes

QUANTITATIVE SCHOOL

focuses on improving decision making via the application of quantitative techniques. Its roots can be traced back to scientific management.

• Scientific and statastical for industry
• Algebraic methods and simulation

a) Management Science and MIS

• Mthods of algeria of sccacrce resources with queueining models

Production and Operations Management

• Transfrom the operation process of resources into finished goods
• Use of management scinece

SYSTEMS SCHOOL

• School focuses on understand the org as ystems
• Based on biologi by Ludwig Von Bertalandffy
• Manage diffiernt specialires

5. CONTINGENCY SCHOOL

• MANANGEMENT principles applied by unic charaterisitcs
• No best way to manage as depends on vaiorus factors
• Original in the 1960s

SCHOOLS OF MANAGEMENT THOUGHT

• Scientific management
• Managment proccess school
• Human relation school
• Human behavioral school
• System approach school
• Decison theroy school
• mathe and quant school
• contigency approach school

Management Process

• Management is a series of interrelated activities
• Brings scarce resources together
• The process in which manager perform

Social Process

• Is regarding in the org
• success depnds on cooperating people
• Influence action on people

Cont Processs

• Ongoning activity
• repreated process

Universal process

• Managers function despite the nature with size
• Organisation with non business functions

Itterative + composite

• Is contained in another
• Mangerial function intergrated

Four Functions of Management

• planing
• organising
• leading
• controlling

Action towards goals

• Planning : Looking to the future
• Organisation: Coordinating to resources
• Leadign: leading motivation and direction
• Controlling: Monitoring activities