MANAGEMENT

DEFINITIONS: F.W. Taylor - Art of knowing what you want to do and then seeing that it is done the best and cheapest way. Henry Fayol To Manage is to forecast, to plan, to organize, to command, to co-ordinate and to control. Peter F.Drucker Management is work and as such it has its own skills, its own tools and its own techniques. Management is the art of getting things done through and with people.

MANAGEMENT AS SCIENCE OR ART: Management is the art of getting things done through others

Art Practical know how Technical skills Concrete results Creativity Personalised nature

Science Empirically Derived Critically tested General principles Cause and effect relationship Universal applicability

MANAGEMENT AS A SCIENCE PROVIDES PRINCIPLES AND AS AN ART HELPS IN TACKLING SITUATIONS.

MANAGEMENT AS A PROFESSION ??
Existence of an organized and systematic body of knowledge, Formalized methods of acquiring knowledge and skills, Existence of an apex level body with Professionalisation as its goal, Existence of an ethical code to regulate the behaviour of the members of the profession, Charging of fees based on service and A concern for social responsibilities.

A close scrutiny of management as a profession reveals that it has a long way to go to have a universally acceptance of management as a profession. Unlike other profession such as medicine, law etc., the practice of management is not restricted to individuals with a special degree.

5 Ms of Management 1. 2. 3. 4. 5. Money Manpower Materials Machinery Methods

NATURE/CHARACTERISTICS OF MANAGEMENT
1. 2. 3. 4. 5. 6. 7. 8. 9. Universal Process Purposeful Creative Group Phenomenon Social Process Multidisciplinary Continuous Process Intangible Both Science and Art

DIFFERENT ROLES OF A MANAGER

INTERPERSONAL ROLES INFORMATIONAL ROLES DECISION ROLES

 Interpersonal Roles:

1. The figurehead role (performing ceremonial/social duties as the organizations chief) 2. The leader role 3. The liaison role (particularly communicating with the outsiders)

Informational Roles:

1. The recipient role (receiving information about the organization) 2. The disseminator role (passing information to subordinates) 3. The spokesperson role (transmitting information to those outside)

Decision Roles:

1. The entrepreneurial role 2. The disturbance-handler role 3. The resource allocator role

Levels of Management
Board of Directors Managing Director Executive Directors TOP MANAGEMENT

MIDDLE MGT Marketing Manager Finance Manager Personnel Manager

Branch Manager

Chief Accountant

Labor Officers

Sale Officers

Finance Officers LOWER MGT

FUNCTIONS OF TOP LEVEL MANAGEMENT

1. To provide a basic sense of direction to the activities of the company by setting its long range mission and translating into clear set of objectives 2. To design the organization structure of the company in terms of differentiated and integrated activities, role of various positions, authority & responsibility between them. 3. Top management must ensure the quality of personnel in terms of their skills, orientations and commitment 4. To ensure that the resource conversion and exchange systems are designed and operated efficiently. 5. Periodic review of objectives for necessary modifications is a part of this function

FUNCTIONS OF MIDDLE LEVEL MANAGEMENT

To interpret and explain the plans and policies formulated by top management To monitor & control the operating performance To cooperate among themselves so as to integrate the various activities of a department To train, motivate and develop supervisory personnel; and To lay down rules & regulations to be followed by supervisory personnel.

FUNCTIONS OF LOWER LEVEL MANAGEMENT

1. To plan day to day production within the goal laid down by higher authorities 2. To assign jobs to workers and to make arrangements for their training and development 3. To issue orders & instructions 4. To supervise & control workers operations and to maintain personal contact with them 5. To arrange materials and tools and to maintain machinery 6. To advise & assist workers by explaining work procedures, solving their problems etc. 7. To maintain discipline and good human relations among workers 8. To report feedback information and workers problems to the higher authorities.

FUNCTIONS OF MANAGEMENT
PLANNING:
Plans give the org its objectives and set up the best procedures for reaching them.

ORGANISING:

It is the process of arranging and allocating work, authority and resources among organizations members so they can achieve the orgs goals.

LEADING:

It involves directing, influencing, and motivating employees to perform essential tasks.

CONTROLLING:

There are three main elements of controlling: 1. establishing standard of performance 2. measuring current performance 3. Comparing these performance to the established standards 4. taking corrective action