Management PDF

Management Mgmt is the art of getting things done through other ppl to achieve pre-determined goals. Getting maximum output from the minimum possible input Characteristics/ Nature/ Feature/ Essentials 1. Goal oriented Concerned with the desire of ppl where they want to reach a c...

Management Mgmt is the art of getting things done through other ppl to achieve pre-determined goals. Getting maximum output from the minimum possible input Characteristics/ Nature/ Feature/ Essentials 1. Goal oriented Concerned with the desire of ppl where they want to reach a certain level or place Every org has its own set of goals towards which they work EG: ABC company has a goal to launch a new product by next month 2. Universal Where there is human activity, there is mgmt principles of mgmt is universally applicable 3. Integrative force Everything under mgmt should be integrated for its effective and efficient work. Department, ppl 4. Multidisciplinary Mgmt brings concepts and ideas involving ppl from various backgrounds, knowledge, and work. Mgmt uses those various ideas and concepts taken from others to manage the org. 5. Intangible A good mgmt is an intangible force It can only be seen when an org goal is accomplished and also when employees and clients are happy.y 6. Social Process Mgmt consists of getting things done through other ppl It is an activity that involves interaction, communication and relationships among individuals within an org 7. Art as well as science Mgmt requires both creative thinking as well as depends on universally applicable principles. 8. Dynamic The system of mgmt of today may not be applicable for tomorrow So mgmt must be flexible enough to modify its style and system according to the change in situation, and time and adjust to the changing environment of an org Function 1. Planning That part of mgmt that answers all the wh questions of business Gives guidance and direction on the entire process of mgmt Way of deciding the best action in adv 2. Organising Concerned with building reln with all the available resources which are integrated for better efficiency of an org All abt building formal reln among the resources required for the mgmt 3. Leading Influencing in such a way that they follow the direction of a leader Act of getting things done through other ppl 4. Controlling Assures that the standard required is achieved Done by controlling ppl and checking timely whether they are carrying out the tasks as per the instructions provided Also assures that the org is working as per the plan 5. Staffing All the activities linked to human resources Involves recruitment, selection, and retention of the right individual at the right time in the right place Ensures a qualified, efficient, experienced individual is hired 6. Communicating An art of making ppl understand the msg u want to convey Good communication results in 7. Motivating Booster dose Act of encouragement to an individual/ ppl to make them an extra effort on their work 8. Coordinating Way of developing synchronize among the group of ppl in their work who are working towards achieving the same org goals.. Levels of Mgmt: It is impossible for managers to manage all the organizational performance without delegating to subordinates of the org. As a result, mgmt system can be separated into several tiers depending on the nature and size of the org. However, in business org, the levels of mgmt may be classified into three levels: 1. Top-level mgmt Has the highest authority Also called mgmt’s brain The main responsibility is to make plans, and policies to attain the organizational goals. Consists of BOD, MD, GM etc It defines long tern obj of org Develops organizational structure Exercises overall control to all the authorities of the org 2. Middle-level mgmt It consists of departmental heads such as human resource managers, finance managers, finance managers, etc. Are in charge of all the activities of their respective departments The backbone of the org Act as the bridge of communication between lower and top levels Top-level mgmt delegates a major part of its authority and responsibility to this level Determine the short-term obj of an org Delegates authority and responsibility to the subordinate-level manager Prepares short-term plan for achieving short-term obj of the org Divides the work among the subordinates and maintains coordination among them 3. Lower level mgmt Known as the first-line or operating level of mgmt Consists of supervisor, sales offices, account officers and other operational heads Direct relations with the employees and work with them Main responsible for carrying out day-to-day activities Communicate the plan & policies guided by the middle level of mgmt