Introduction to Management PDF

Management: Definition “A set of activities (including planning and decision making, organizing, leading, and controlling) directed at an organization’s resources (human, financial, physical, and information), with the aim of achieving organizational goals in an efficient and effective manne...

Management: Definition “A set of activities (including planning and decision making, organizing, leading, and controlling) directed at an organization’s resources (human, financial, physical, and information), with the aim of achieving organizational goals in an efficient and effective manner.” - Griffin Management: Definition Human resources: talent and labor Financial resources: capital to finance ongoing and long-term operations Physical resources: raw materials, office and production facilities, and equipment Information resource: usable data needed to make effective decision Management: Definition “Management is the art of getting things done through & with an formally organized group.”- Koontz Management: Definition “Management is the art of getting things done through & with an formally organized group.”- Koontz  “Management is the process of working with and through other to achieve organizational objectives in a changing environment.” – R. Kreitner Management: Definition “Management is the art of getting things done through & with an formally organized group.”- Koontz  “Management is the process of working with and through other to achieve organizational objectives in a changing environment.” – R. Kreitner PODSCORB: Planning, Organizing, Directing, Staffing, Controlling, Co- ordinating, Reporting & Budgeting Features of Management Management is very old concept Art as well as Science Management is an activity Management is a continuous process Management achieving pre-determined objectives Organized activities Management is a factor of production Management as a system (a set of connected things) Management is a discipline Features of Management Management is a distinct entity Management aims at maximising profit Management is a purposeful activity Management is a profession Universal application Management is getting things done Management is needed at all levels Importance of Management Management meet the challenge of change Accomplishment of group goals Effective utilization of resources Effective functioning of business Resource Development Sound organization Structure Management directs the organization Integrates various interests Stability Importance of Management Innovation Co-ordination and team-spirit Tackling problems A tool for Personality Development Who Are Managers? Manager Someone who works with and through other people by coordinating their work activities in order to accomplish organizational goals Types of Managers Top Managers Are responsible for making organization-wide decisions and establishing plans and goals that affect the entire organization. Made up relatively small group of executives Titles: President, Vice President, CEO Creates organization’s goal, overall strategy, and operating policies Officially represents organization to external environment Types of Managers (Cont’d) Middle Managers Large group of managers Responsible primarily for implementing policies and plans develop by top managers Title: Plant manager, operations manager, division head Manage the work of first-line managers Types of Managers (Cont’d) First-line Managers Are at the lowest level of management and manage the work of non-managerial employees (e.g. worker) Supervise and coordinate activities of operating Title: Supervisor, Coordinator, Office Manager Exhibit 1.1 Managerial Levels Top Top Managers Managers Middle Managers Middle Managers First-Line Managers First-Line Managers Nonmanagerial Employees Nonmanagerial Employees Kinds of Managers by Level and Area Time Spent in Carrying in Managerial Functions Organization A consciously coordinated social unit, composed of two or more people, that functions on a relatively continuous basis to achiesve a common goal or set of goals. Management: Science or Art Science of Management: Managers can use quantitative models and decision-making techniques to arrive at “correct” decisions Art of Management: Managers frequently make decisions and solve problems on the basis of intuition, experience, instinct, and personal insights. Effective management is a blend of both science and art. Productivity, Effectiveness and Efficiency Productivity implies effectiveness and efficiency in individual and organizational performance Effectiveness is the achievement of objectives Efficiency is the achievement of the ends with the least amount of resources (time, money, etc.) Productivity, Effectiveness and Efficiency Productivity  Output-input ratio within a time period with due consideration for quality  Productivity improved: increased output with same inputs, or decreased input maintaining same output Efficiency  “Doing things right”  Getting the most output for the least input Effectiveness  “Doing the right things”  Attaining organizational goals Why Study Management? Universality of Management The reality that management is needed  in all types and sizes of organizations  at all organizational levels  in all organizational areas  in all organizations, regardless of location Managers (or administrators) Individuals who achieve goals through other people. Managerial Activities Make decisions Allocate resources Direct activities of others to attain goals What Do Managers Do? Functions Planning Organizing Leading Controlling Planning A process that includes defining goals, establishing strategy, and developing plans to coordinate activities. Organizing Determining what tasks are to be done, who is to do them, how the tasks are to be grouped, who reports to whom, and where decisions are to be made. Leading A function that includes motivating employees, directing others, selecting the most effective communication channels, and resolving conflicts. Controlling Monitoring activities to ensure they are being accomplished as planned and correcting any significant deviations. Management Functions Planning Organizing Leading Controlling Lead to Defining goals, Determining Directing and Monitoring establishing what needs motivating all activities Achieving the strategy, and to be done, involved parties to ensure organization ’s developing how it will and resolving that they are stated subplans to be done, and conflicts accomplished purpose coordinate who is to do it as planned activities Management Process What Do Managers Do? (cont’d) Mintzberg’s Management Roles Approach Interpersonal roles  Figurehead, leader, liaison Informational roles  Monitor, disseminator, spokesperson Decisional roles  Entrepreneur, disturbance handler, resource allocator, negotiator What Do Managers Do? (cont’d) Management Skills (Approach) Technical skills Human skills Conceptual skills Others: interpersonal, diagnostic, decision making, time management Technical skills The ability to apply specialized knowledge or expertise. Human skills The ability to work with, understand, and motivate other people, both individually and in groups. Conceptual Skills The mental ability to analyze and diagnose complex situations. Exhibit 1.4 Skills Needed at Different Management Levels Top Conceptual Managers Skills Middle Human Managers Skills Lower-level Technical Managers Skills Importance Sources of Management Skills Thank You 