Session 1 2025 Principles of Management PDF

1/3/2025 Management can be Exercised in Different Contexts...

1/3/2025 Management can be Exercised in Different Contexts Session 1 Introduction to Organization and Management Individual Family BSE 1401 – Principles of Management B.Sc. Business Studies (General) External Degree Part I Semester I Organizational Seminar Series – 2025 January National and International Department of Business Administration Faculty of Management Studies and Commerce University of Sri Jayewardenepura 03/01/2015 B.Sc. Business Studies (General) External Degree Part I 2025 Seminar Series 1 03/01/2015 B.Sc. Business Studies (General) External Degree Part I 2025 Seminar Series 2 Part I Introduction to Organization - Contents  What is an organization?  Common features of an organization  Different definitions of organizations What is an Organization ?  Why we need organizations?  What is a business organization?  Classification of business organizations  Objectives of organizations 03/01/2015 B.Sc. Business Studies (General) External Degree Part I 2025 Seminar Series 3 03/01/2015 B.Sc. Business Studies (General) External Degree Part I 2025 Seminar Series 4 An Organization - Definitions Common Features of an Organization  A group of people who work together in a structured way for a shared purpose.  People (Cambridge Advanced Learners Dictionary)  Structure  An organization is a collection of two or more people  Common objective/goal who work together in a structured way to achieve a (Robbins and Decenzo,2004) specific goal or set of goals. (Stoner and Freeman,2009)  An organization is a deliberate arrangement of people to accomplish some specific purpose. (Robbins and Coulter, 2007) 03/01/2015 B.Sc. Business Studies (General) External Degree Part I 2025 Seminar Series 5 03/01/2015 B.Sc. Business Studies (General) External Degree Part I 2025 Seminar Series 6 1  1/3/2025 An Organization is Other definitions on  “ a socio-economic entity”. Understanding an Organization This perspective views that organizations are entities which engaged in social as well as economic activities. 03/01/2015 B.Sc. Business Studies (General) External Degree Part I 2025 Seminar Series 7 03/01/2015 B.Sc. Business Studies (General) External Degree Part I 2025 Seminar Series 8 Why we need Organisations? What is a Business ?  To accomplishment of otherwise impossible tasks  To provision of means to achieve human needs A business is any economic activity carried  To accomplish psycho-emotional needs out to satisfy human needs and wants.  To produce, preserve and disseminate knowledge 03/01/2015 B.Sc. Business Studies (General) External Degree Part I 2025 Seminar Series 99 03/01/2015 B.Sc. Business Studies (General) External Degree Part I 2025 Seminar Series 10 Classification of business Business Organization organizations. A business organization is a collection of Private - Public Profit-Not for profit individuals and deliberately structured entity which produces goods and/or services utilizing limited resources to achieve its specific goals and objectives. Apply to all organizations: for profit, non-profit and not-for - profit. B.Sc. Business Studies (General) External 03/01/2015 B.Sc. Business Studies (General) External Degree Part I 2025 Seminar Series 11 03/01/2015 12 Degree Part I 2025 Seminar Series 2  1/3/2025 Bases for Classification of Objectives of Business Organizations Business Organisations  Objective  What is an objective?  Product Objectives are those end results toward which the organizational activities are directed.  Ownership (Koontz and Donnel)  Scale  Technology  Classification of objectives  Market Objectives can be classified based on the level of significance and time horizon.  Multiple objectives of an organisation 03/01/2015 B.Sc. Business Studies (General) External Degree Part I 2025 Seminar Series 13 03/01/2015 B.Sc. Business Studies (General) External Degree Part I 2025 Seminar Series 14 Stakeholders and their multiple objectives Trade Unions Political Parties Part II Customers Management - Contents General Community Media Debtors Employees  What is management?  Management as a process Competitors Business Organisations Suppliers  Management is an Art or a Science?  Core concepts of management Owners Educational Institutions  Why need management? Government Creditors Customers Trade Associations Financial Institutions 03/01/2015 B.Sc. Business Studies (General) External Degree Part I 2025 Seminar Series 15 03/01/2015 B.Sc. Business Studies (General) External Degree Part I 2025 Seminar Series 16 Management in Business Organisations Business What is Management? There is no universally accepted definition of Management. Organisation Management 03/01/2015 B.Sc. Business Studies (General) External Degree Part I 2025 Seminar Series 17 03/01/2015 B.Sc. Business Studies (General) External Degree Part I 2025 Seminar Series 18 3  1/3/2025 Management Definitions Different Definitions of Definition – 1 Management Management is the art of getting things done through other people. Mary Parker Follet (1868-1933) 03/01/2015 B.Sc. Business Studies (General) External Degree Part I 2025 Seminar Series 19 03/01/2015 B.Sc. Business Studies (General) External Degree Part I 2025 Seminar Series 20 Management Definitions Management Definitions Definition – 2 Definition – 4 Management is the process of planning, organizing, commanding, coordinating and controlling. Management is the attainment of organizational (Fayol,1930) goals in an effective and efficient manner through planning, organizing, leading and controlling Definition – 3 organizational resources. Management is the process of planning, organizing, (Daft,2012) leading and controlling, the efforts of organization members and of using all other organizational resources to achieve organizational goals. (Stoner and Freeman,2009) 03/01/2015 B.Sc. Business Studies (General) External Degree Part I 2025 Seminar Series 21 03/01/2015 B.Sc. Business Studies (General) External Degree Part I 2025 Seminar Series 22 22 Management in Organisations Hence, Management can be broadly defined as Environment a process of planning, organizing, leading and controlling the limited resources efficiently Planning Organizing and effectively to achieve predetermined goals Inputs from the environment Human resources Goals Attained and objectives in an ever changing business Financial resources Physical resources Efficiently Effectively Information resources environment. Controlling Leading (Source: Adapted from Van Fleet, David D., Contemporary Management, Second Edition.) 03/01/2015 B.Sc. Business Studies (General) External Degree Part I 2025 Seminar Series 23 03/01/2015 B.Sc. Business Studies (General) External Degree Part I 2025 Seminar Series 24 4  1/3/2025 Limited Resources Core Concepts of Management  Resources Money Information  Efficiency  Effectiveness  Productivity Minutes Machines  Process Men  Goals/Objectives  Environment Material Methods B.Sc. Business Studies (General) External 03/01/2015 B.Sc. Business Studies (General) External Degree Part I 2025 Seminar Series 25 25 03/01/2015 26 Degree Part I 2025 Seminar Series Resources Efficiency “Doing things right” An organization's resources include; (Drucker,2010)  Human Resources The ability to minimize the use of resources in achieving  Financial Resources organizational objectives. (Stoner and Freeman, 2009)  Physical Resources  Information Resources Getting the most output from the least amount of inputs.  Time (Robbins and Coulter, 2012)  Etc. A measure of how well or how productively resources are used to achieve a goal. (Jones and George, 2009) 27 03/01/2015 B.Sc. Business Studies (General) External Degree Part I 2025 Seminar Series 27 03/01/2015 B.Sc. Business Studies (General) External Degree Part I 2025 Seminar Series 2828 Effectiveness Efficiency and Effectiveness in Management “Doing the right thing” (Drucker,2010) The ability to determine appropriate objectives. (Stoner, Freeman and Gibert, 2008) A measure of the appropriateness of the goals an organization is pursuing and of the degree to which the organization achieves those goals. (Jones and George, 2009) (Robbins and Coulter, 2012) 03/01/2015 B.Sc. Business Studies (General) External Degree Part I 2025 Seminar Series 29 03/01/2015 B.Sc. Business Studies (General) External Degree Part I 2025 Seminar Series 30 29 5  1/3/2025 High Performing Organisations are Productivity Effective and Efficient Productivity is the relationship between the output generated by a production or service system and the input provided to create this output. Productivity = Efficiency + Effectiveness (John R. Schermerhorn) 03/01/2015 B.Sc. Business Studies (General) External Degree Part I 2025 Seminar Series 31 03/01/2015 B.Sc. Business Studies (General) External Degree Part I 2025 Seminar Series 32 31 Management – as a Process Four Functions of Management Planning Controlling Organizing Leading (Jones and George, 2008) 03/01/2015 B.Sc. Business Studies (General) External Degree Part I 2025 Seminar Series 33 03/01/2015 B.Sc. Business Studies (General) External Degree Part I 2025 Seminar Series 34 33 34  Management as a Science Science is a body of knowledge pertaining to a specific field of study. It contains theories, principles and facts. Management  Management as an Art Is it a Science or an Art? Art implies the application of knowledge and skills to bring about the desired results. Management is both a science as well as an art. Science(theory) and art (practice) are both essential for the success of management. 03/01/2015 B.Sc. Business Studies (General) External Degree Part I 2025 Seminar Series 35 03/01/2015 B.Sc. Business Studies (General) External Degree Part I 2025 Seminar Series 36 35 36 6  1/3/2025 Why Management?  To maximize the utilization of scarce resources  To face the increasing competition for inputs and outputs Management  To enhance the quality of the products and services or  To adopt/plan for the changes in the business Managing (People and Work) environment The ultimate aim of management is to enhance the organizational productivity and performance. 03/01/2015 B.Sc. Business Studies (General) External Degree Part I 2025 Seminar Series 37 38 38 Questions and Clarifications 03/01/2015 B.Sc. Business Studies (General) External Degree Part I 2025 Seminar Series 39 7