Unit 1: Fundamentals of Management PDF

UNIT 1: Fundamentals of Management Management Characteristics  Management is goal-oriented (focus on objectives).  It is continuous (ongoing process).  Involves teamwork (collaborative effort).  Operates in a dynamic environment (adapts to change).  Universal application (us...

UNIT 1: Fundamentals of Management Management Characteristics  Management is goal-oriented (focus on objectives).  It is continuous (ongoing process).  Involves teamwork (collaborative effort).  Operates in a dynamic environment (adapts to change).  Universal application (used in all organizations).  Example: A hospital’s management ensures patient care, efficient operations, and staff coordination. Management: Art or Science  Art: Uses creativity, intuition, and personal skills (e.g., motivating employees).  Science: Based on principles and research (e.g., Taylor’s scientific management).  Both: Managers blend creativity with scientific methods to solve problems.  Example: A manager uses motivational theories (science) and personalized communication (art) to improve team performance. Management as a Profession  Definition: Profession requires specialized knowledge, formal education, and ethics.  Arguments for: MBA programs, professional bodies like AIMA.  Arguments against: No mandatory certification for all managers.  Example: Doctors need degrees, while managers may not. Levels of Management  Top-Level: CEOs, directors (set goals).  Middle-Level: Managers (coordinate teams).  Lower-Level: Supervisors (execute plans).  Example: In a factory, the CEO plans expansion, middle managers arrange resources, and supervisors oversee production. Functions of Management 1. Planning: Setting objectives. 2. Organizing: Structuring resources. 3. Staffing: Hiring people. 4. Directing: Guiding employees. 5. Controlling: Monitoring performance. Example: In a restaurant, planning involves creating menus, organizing includes kitchen setup, and controlling ensures food quality. Taylor vs. Fayol  Taylor: Scientific approach (e.g., time studies).  Fayol: Administrative principles (e.g., discipline, equity).  Example: Taylor’s methods optimize worker productivity, while Fayol focuses on organizational structure. --- UNIT 2: Planning and Decision-Making Planning Process 1. Set objectives. 2. Analyse resources. 3. Develop strategies. 4. Implement plans. 5. Monitor progress. Example: A company launching a new product plans marketing, production, and distribution. Characteristics of Planning  Goal Oriented: Focuses on objectives.  Continuous: Requires updates.  Flexible: Adapts to changes.  Example: During COVID-19, businesses adjusted plans to shift online. Purpose of Policies and Objectives  Policies: Guide decisions (e.g., leave policy).  Objectives: Provide direction (e.g., increasing sales by 10%).  Example: A company’s policy ensures fair employee treatment, while objectives drive growth. Steps in Decision-Making 1. Identify the problem. 2. Analyze options. 3. Choose the best solution. 4. Implement the decision. 5. Evaluate outcomes. Example: A manager deciding between outsourcing or hiring in-house staff. --- UNIT 3: Organizing Principles of Organizing  Division of Work: Specialization.  Authority and Responsibility: Clear roles.  Coordination: Teams working together.  Example: A retail store assigns sales, billing, and inventory tasks to different employees. Formal and Informal Organization  Formal: Structured roles (e.g., departments).  Informal: Social interactions (e.g., friendships).  Example: A team has formal tasks but bonds over lunch breaks. Factors Influencing Span of Control  Complexity: More tasks = smaller span.  Skill Level: Skilled employees need less supervision.  Example: A manager supervises 10 clerks but only 3 engineers. Methods of Departmentation  By Function: HR, Finance.  By Product: Electronics, Furniture.  Example: A manufacturing company has separate departments for production, marketing, and sales. --- UNIT 4: Staffing and Motivation Sources of Recruitment 1. Internal: Promotions. 2. External: Job portals. Example: A company promotes an employee to manager instead of hiring externally. Selection Process 1. Screening applications. 2. Conducting interviews. 3. Offering jobs. Example: A startup interviews candidates to hire a developer. Training Methods  On-the-Job: Learning while working.  Off-the-Job: Classroom training.  Example: A chef learns cooking techniques on the job, while managers attend workshops. Steps in Controlling Process 1. Set standards. 2. Measure performance. 3. Take corrective action. Example: A factory monitors production quality and fixes defects. Maslow’s Need Theory 1. Physiological: Basic needs (food). 2. Safety: Job security. 3. Social: Relationships. 4. Esteem: Recognition. 5. Self-Actualization: Growth. Example: Employees work harder when promoted to higher roles. --- UNIT 5: Advanced Topics TQM Fundamentals  Focus on customer satisfaction.  Continuous improvement.  Example: Toyota ensures quality in every car through regular checks. Positive and Negative Impacts of Technology  Positive: Efficiency, innovation.  Negative: Job displacement.  Example: Automation speeds production but reduces manual jobs. Leadership Styles  Autocratic: One leader (e.g., military).  Democratic: Team input.  Free Rein -: Employee independence.  Example: Startups often adopt a free-rein style for creativity. Organizational Development Techniques  Training, team-building.  Example: Workshops improve collaboration in teams. CSR Responsibilities  Towards Society: Environmental care.  Towards Employees: Fair pay.  Example: TATA runs schools and provides employee benefits. --- Exam Writing Tips 1. Start with a definition or key point. 2. Use examples to clarify concepts. 3. Write in bullet points for clarity. 4. Add diagrams if applicable (e.g., Maslow’s pyramid).