1. Introduction to Management 24.1 (Student).pptx

1. Introduction to Management MGT 1131_Principles of Management Batch 24.1 Ms. Aushadharie Kaushalya Department of Management NSBM Green University - Department of Management (V#04_March 2024) 1 Introduction to Manag...

1. Introduction to Management MGT 1131_Principles of Management Batch 24.1 Ms. Aushadharie Kaushalya Department of Management NSBM Green University - Department of Management (V#04_March 2024) 1 Introduction to Management Lesson 01 Learning Outcomes At the end of the session, students should be able to, Identify the key concepts of management Explain the difference between efficiency and effectiveness and their importance for organizational performance Explain the process of Management Identify the roles and skills of managers Define organizations and reasons for existence of organizations Managemen t is… Management is the process of getting things done effectively and efficiently with and through the efforts of others. Coordinating and overseeing the work activities of others so their activities are completed efficiently and effectively. Use of resources to accomplish goals. Managers are responsible for the accomplishment of goals. Efficiency Vs. Effectiveness The process of getting things done, effectively and efficiently, through and with other people. EFFICIENCY Doing the thing correctly; refers to the relationship between inputs and outputs; seeks to minimize resource costs; getting the most output from the least amount of inputs EFFECTIVENESS Doing the right things; doing those work activities that will result in achieving goals; goal attainment EFFICIENCY It refers to the getting the most output from the least number of inputs or resources. Managers deal with scarce resources (ex: people, money and equipment) and want to use those resources efficiently. Efficiency is often referred to as “doing things right”, that is, not wasting resources. Hon’s (office equipment manufacturing company – Georgia) efficient work practices paid off, as the facility cut expenditures by more than $7 million in a single year. ……………………………………………………………………. ……………………………………………………………………. ……………………………………………………………………. EFFECTIVENESS Management is also concerned with employee effectiveness. It is often described as “doing the right things”, that is, doing those work activities that will result in achieving goals. At the Hon factory, goals included meeting customers’ rigorous demands, executing world-class manufacturing strategies, and making employees’ jobs easier and safer. Through various employee work initiatives, those girls were pursued and achieved. Whereas efficiency is concerned with the means of getting things done, effectiveness is concerned with the ends, or attainment of organizational goals. In successful organizations, high efficiency and high effectiveness typically go hand in hand. Four Functions of Management Who is a Manager? A manager is someone who coordinates and oversees the work of other people so that organizational goals can be accomplished. A manager’s job is not about personal achievement, it is about helping others do their work. Coordinating the work of a departmental group Supervising a single/ more employees Coordinating the work activities of a team with people from different departments or even people outside the organization such as temporary employees or individuals who work for the organization’s suppliers. Who are Managers? Every organization has 2 types of employees; Managerial Non- Managerial Levels of Management Top Management Middle Management Front line management  How Managers are Organized Levels of Management The most common view considers three basic levels of managers. TOP-LEVEL MANAGERS They are responsible for managing the overall organization. Major decisions related to the organization are made by them. Top managers establish plans, goals, overall strategy, and operating policies. They are mostly interrelated with the external environment. Different titles are used for them. (Example: President, CEO, Managing Director, COO, etc.) Management Levels cont.… MIDDLE-LEVEL MANAGERS They implement the policies and plans developed by the top managers and supervise & coordinate the activities of first-line managers. Traditionally we find more middle level managers in organizations, but with the recent trend of ‘downsizing’, there is a greater removal of managers from this level. Common titles: operations manager, marketing manager, regional manager, project manager, store manager, division manager Management Levels cont.… FRONT-LEVEL MANAGERS/ FIRST- LINE MANAGERS The lowest level of management Supervise and coordinate the activities of operating employees/ non-managerial employees (producing products or providing services for organization’s customers. The relative importance of these skills may differ according to various levels in the organizational hierarchy, e.g. Technical skills are of greatest importance at the supervisory level, while conceptual skills are more important at the top level Common titles are supervisor, coordinator, Managerial Skills  The ability to analyze CONCEPT and diagnose a UAL situation and distinguish between SKILLS cause and effect. The ability to understand, alter, HUMAN lead, and control the SKILLS behavior of other individuals and groups. The specific TECHNICA knowledge and techniques required L SKILLS to perform an organizational role. Management As a manager moves from supervisory/front line to top-management, conceptual skills become more Skill important than technical, but human skills remain Continuum important across all levels of management.  What Do Managers Do? MANAGEMENT ROLES APPROACH (HENRY MINTZBERG) Interpersonal roles Figurehead, leader, liaison Informational roles Monitor, disseminator, spokesperson Decisional roles Disturbance handler, resource allocator, negotiator, entrepreneur 1. Interpersonal Roles Roles that managers assume to provide direction and supervision to both employees and the organization as a whole: Figurehead—symbolizing the organization’s mission and what it is seeking to achieve. Leader—training, counseling, and mentoring high employee performance. Liaison—linking and coordinating the activities of people and groups both inside and outside the organization/department.  2. Decisional Roles Roles associated with methods managers use in planning strategy and utilizing resources: Entrepreneur—deciding which new projects or programs to initiate and to invest resources in. Disturbance handler—managing an unexpected event or crisis. Resource allocator—assigning resources between functions and divisions, setting the budgets of lower managers. Negotiator—reaching agreements between other managers, unions, customers, or shareholders. 3. Informational Roles Roles associated with the tasks needed to obtain and transmit information in the process of managing the organization: Monitor—analyzing information from both the internal and external environment. Disseminator—transmitting information to influence the attitudes and behavior of employees. Spokesperson—using information to positively influence the way people in and out of the organization respond to it. Where do managers work? What is an Organization? An Organization Defined A deliberate arrangement of people to accomplish some specific purpose (that individuals independently could not accomplish alone). Common Characteristics of Organizations Have a distinct purpose (goal) Composed of people Have a deliberate structure Organization In a system there are some sets of interacting components. as a System The interactive behavior of those components put them together to form an integrated whole. Those interactions among the elements take place within a certain boundary. Those elements interact and form an integrated whole to achieve some goals common to all. Activities of a Business  Nature of Management i. Management is a Science Management is explained as a science, a profession, and an art. Let us examine why we describe management in this manner. Many management issues and problems can be approached in ways that are rational, logical, and systematic. Managers can gather data and information and use quantitative models and decision-making techniques to arrive at correct decisions. When dealing with relatively routine and straightforward issues, managers use the scientific approach to solve problems.  Nature of Management ii. Management is an Art Management is an art as managers often make decisions and solve problems on the basis of experience, personal insights and sense. For example, for solving unusual and non-routine problems requires this personal insight and sixth sense. Successful managers apply the scientific methods and knowledge in their own way to each and any given situation, issue or problem. Some theorists argue that knowledge gathering should be  Nature of Management iii. Management is a Profession Management is a profession as there are certain skills and knowledge necessary for a successful manager. Technical and diagnostic skills are especially important in managing a business. Management is not a formal or traditional profession, but education and experience are necessary for a good manager. For example, when making a decision on centralization or decentralization of activities, or organizing activities it should be done with specific management concepts. Importance of Innovation to Success in business today demands innovation. the Innovation: exploring new territory, taking risks, doings things differently Manager’s Job Ex: Best Buy in Manchester Young staff/ not always committed long term to a retail career, needs high level of employee training (Challenge) Employees to suggest new ideas “team close” – employees scheduled to work at the store’s closing time, closed the store and walked out together as a team Resulted in to have a remarkable impact on employees’ attitude level and commitment  Importance of Sustainability to the Manager’s Job World’s largest retailer – Walmart “cut some 20 million metric tons of greenhouse gas emissions from its supply chain by the end of 2015 – the equivalent of removing more than 3.8 million cars from the road for a year” Reuses or recycles more than 80% of the waste produced in its domestic stores in other US Operations. This corporate action affirms that sustainability and green management have become mainstream issues for managers.  As a manager, You should have the responsibility of Also, you should respond strategically managing business operations in to a wide range of environmental and efficient and effective ways social challenges