Management PDF

# Management ## R.S.D ### Categorize Management into 18 Types / Categories: - Manage Men - Tactfully - Tactfully management of men is called management. - Rose Morrey - Management is decision making. - Merry Parker Follett - Management is an art of getting things done through o...

# Management ## R.S.D ### Categorize Management into 18 Types / Categories: - Manage Men - Tactfully - Tactfully management of men is called management. - Rose Morrey - Management is decision making. - Merry Parker Follett - Management is an art of getting things done through others. - Harold Koontz - Management is an art of guiding things done through a wealth of people in a formally organized group. - F.W. Taylor (Father of Scientific Management) - Management is an art of knowing what you want to do and then seeing it is done in the best and cheapest way. ## Managerial Roles * Henry Mintzburg conducted research in America for 2 years and chose the top 5 companies to observe working: - 5 CEOs - 10 Managerial Roles ### Inter Personal Role - Figurehead Role - Greetings - Sign - Participate in social events - Leader Role - Sets an example of hard work and dedication. - Ability to encourage or motivate others. - Liaison Officer Role - Internal employees: Top Management - External: Investors, Government ### Informational Role - Monitor - Disseminator - Spokesperson ### Decisional Role - Entrepreneur - Disturbance Handler - Resource Allocator - Gives right resources to the right person. - Negotiator - Employee, Investor, Government, Financial Institutes ### Management Characteristics / Nature - A Process - A Human Process - A Social Process - A Universal Process - An Intellectual Process - The Ability of Decision Making - Ability of Leadership - Different from Ownership - Goal Oriented - Intangible - Applicable at All Levels - Multi-Disciplinary ## Approaches of Management - 1900 - 1930 ### Classical Approach - Theory: M.C. Gregor - Negative aspect towards employees - Founder: - Chester I. Barnard - Organization: Machine - Relation employees: Tools - Formal relations - Threat - Punishment - Controlling - Centralization ### 4 Pillars of Classical Approaches - Division of work - Principles of management - 14 Principles given by Henry Fayol (France, mining engineer) - Productivity: ↑ employee, ↑ work - Divide / Allocate on the basis of specialization - Scalar Process - Structure - Span of Control ## Neo-Classical Approach - 1930 - 1960 - George Elton Mayo (Father of Human Resource Mgmt) - Informal Relation - Decentralization - Coordination - Theory of Motivation ## Planning - Theo Haimann - What to do, deciding in advance. - What to do, when to do, how to do. - Planning (Top level mgmt.) - Forecasting (Ability of experienced person) ### Types of Planning - Hierarchy - Strategic Planning - Long Term - More than 5 years - Mid Term - Less than 5 years, more than 1 year - Short Term - Less than 1 year ### Process of Planning - Aware of opportunities - Establishing objectives - Developing alternatives - Determining alternatives - Evaluating alternatives - Selecting the best - Formulating/the plan - Implementing - Follow Up ### Characteristics of Planning - Planning provides direction - Reduces the risk of uncertainty - Reduces overlapping of activities - Promotes innovative ideas - Planning facilitates decision-making - Establishes standards for controlling ### Limitations of Planning - Inflexibility - Costly - Mental Laziness - Unreliable forecasting - Time Consuming - Sudden emergencies - Lack of practicality ## Management by Objectives - Propounded by/given by Peter F. Drucker in 1954. - M.B.O. also known as Management by Planning, Management by Results. - Peter F. Drucker wrote a book: “The Practice of Management" ### Process of Management by Objectives - Goal Setting (Special Goal, Individual/Departmental) - Action Plan - Appraising Performance - Final Review - Standard Work - Actual Work - 1500 - 1450 - Deviation (Difference): 50 - Corrective Action ### Benefits/Advantages - Clear Goals - Better Planning - Faciliates Control - Objective based Appraisal - Motivation Force - Result oriented Philosophy - Better Moral ### Limitations - Time Consuming - Procedure oriented - Increase Paper Work - Technical Upgradation ## Decision Making - Decision making means choosing the best alternative amongst all possible alternatives. - Decision making is a choice based action. - Decision making is a work of experienced persons. - Decision is taken to achieve organizational objectives. ### Characteristics - Goal oriented - Based on alternatives - Analytical of intellectual process - Universal function - Commitment of time, money, & efforts - Integrated plan of planning - Dynamic process ## Types of Decision - Basic & Routine Decision - Basic - Unique - Large investment - One-time decision (top management/forecasting ability, example: launching of new product) - Routine - Routine decision - Day to day work - Repetition - Strategic & Tactical Decision - Strategic - Long term - By top management - No Delegation Of Authority - Tactical - Short term - Bottom/lower level - Delegation of Authority - Programmes & Unprogrammes Decision - Programme - Planned - Routine - Repetition - Unprogramme - Unplanned - Situational - Contingency ### Decision Making Process - Problem Identification - Diagnosing the Problem - Developing the Alternative - Analysis and Evaluation of Alternatives - Selection of Best Alternatives - Implementation of Decision - Follow up ## Organization - A group of employees working together to achieve common goals of enterprise is called an Organization. ### Characteristics - Koontz and O’Donnel - Coordination is the essence of management. - A Group of employees - Common group - Division of work - Resources - Hierarchy of Authority - Roles of positions - Dependence on environment - Functional Approach