MANAGEMENT THEORY & PRACTICE

Unit I
Chapter 1: Introduction: What is and why study management? Chapter 2: Problem Solving and Decision Making: Creative Problem analysis Chapter 3: Problem solving and decision-making: Managerial Decision Making. Chapter 4: Planning
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Chapter 1: Introduction To Management

Management Defined. Why Study Management Management: Science Or Art? Managerial Skills. Principles Of Management. Distinguishing Managers And Entrepreneurs. Key Characteristics To Understanding Management.
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1.1 Meaning Of Management

It is the art of getting work done by others in order to achieve a pediment objective. Activity that converts disorganized human & physical resources into useful and effective results.

Definitions:
Management is a distant process consisting of activities of planning, organizing, actuating & controlling performed to determine and accomplish stated objectives with the use of human beings and other resources. (Terry. G.)

1.1 Meaning Of Management

Basic Resources Fundamental Functions Stated Objectives

Planning

Organizing

Men Machine Money Material Methods Markets

Directing
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Actuating

Efficiency & Effectiveness in Management

Resource Usage Goal Attainment

Management Strives for: Low Resource Waste (high efficiency) High Goal Attainment (high effectiveness)

Efficiency and effectiveness in management

Managerial Concerns : To ensure how efficiently and effectively managers use resources to satisfy customers and achieve goals.

Efficiency: Doing things right A measure of how well resources are used to achieve a goal. Managers must try to minimize the input of resources to attain the same goal. Effectiveness: Doing the right things A measure of the appropriateness of the goals chosen (are these the right goals?), and the degree to which they are achieved. Organizations are more effective when managers choose the correct goals and then achieve them.
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1.2 Why Study Management?

Management makes human efforts more productive. It brings better equipment, plants, offices , products, services and human relations to our society. Helps in social economic life. Management brings order to endeavors by combining isolated events and disjointed information into meaningful relationships. Theses relationships then work to solve problems and accomplish goals.

1.3 Management Is Science Or Art?

As Art Doing the things in light of the realities of a situation. As Science Organized knowledge underlying the practice . If science teaches one to know , art teaches one to do..

1.4 Skill Required at Different Managerial Level

Conceptual
Top Managers

Human

Technical

Middle Managers

Line Managers

1.5 Principles Of Management

Good management principles should be practical. Relevant to the broad forms of organizational structure. Consistent in that for similar sets of circumstances. Flexible.

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1.6 Key Characteristics of Management

Is Purposeful Makes things happen Is an activity, not a person or group. Is accomplished by, with and through the effort of others. Is usually associated with the efforts of a group. Is intangible Is aided, not replaced by computers. Is an outstanding means for exerting real impact.

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Analysis of business failures made over many years has shown that a very high percentage of these failures have been due to unqualified or inexperienced management. Unless we can learn to harness human resources and co-ordinate the activities of the people inefficiency & waste in applying technical discoveries will continue. Managing is essential in all organization and at all levels of organization. In an enterprise it is the function not only up to co-operation president and army general but also of the shop supervisor & the company commander. No business executives say that the aim of business is only profit making is their goal. Profit is really only a measure of surplus of sales dollar over expense dollars in carrying out any kind of business. People can accomplish group mission /objectives with the least amount of such inputs as time, money, materials and personal dissatisfactions or where they can achieve as much as possible of desired mission or objective with available resources. If managers cannot be sure whether their goals are effectiveness & efficiency either of themselves or their groups. The aim of managers as managers is fundamentally the same in business and non-business enterprises it is also the same at every level.
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Manager Someone who works with and through other people by coordinating their work activities in order to accomplish organizational goals
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1.7 Types of Managers

top manager

Executive, vice president, president, managing director, CEO/ chairperson. Regional manager, project leader, plant manager, or division manager Supervisor, shift managers, district/ department/office managers.

middle manager

first line manager

non-managerial employees

workers

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1.8 Perceptions of characteristics and role demands

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1.9 Guidelines for managerial excellence in success

a. b. c. d. e. f. g. h. i. Know the companys goals. Select effective sub ordinates Delegate authority Check to ensure that the results obtained are satisfactory Select your group members carefully Motivate them Develop good communication Strive to attain effective interpersonal relationships Minimize conflicts
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a. b. c. d. e. f. g. h. i. j. k. l.

Strengthen human relations skills Learn to speak & listen effectively Set high standards Consider others point of view Become effective in decision making Give scope for new ideas Be a leader and take action View management as opportunity to influence people Evaluate and measure performances Spend time on important matters Meticulous planning Expression of emotions and understanding nature to be incorporated.
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 Looking At The Better Part Of Other Person. Delegation Of Right Job To The Right Person At The Right Time Encouraging Employees To Take Up Responsibilities. Appraisal Of Individuals Work Honestly. Evaluate The Group Members Consistently Keep Cost Under Control Increase Personal Knowledge
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Conclusion.
Management is a single term with complex functions.

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THANK YOU.

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