FUNDAMENTALS OF

MANAGEMENT
 WHAT IS MANAGEMENT?
• Management while performing the activities of getting
thins done by others is required to apply the knowledge
of certain underlying principles which are necessary for
every art
• Management gets perfection in the art of managing only
through continuous practice
• Management implies capacity to apply accurately the
knowledge to solve the problems, to face the situation
and to realise the objectives fully and timely
 PURPOSE OF MANAGEMENT

1. Reducing ambiguity in methods of working,

2. Keeping costs down, and motivating others to do the same.
3. Taking calculated risks
4. Managing prospective risk
5. Exercise good judgement
 Importance of Management
Achievement of Group Goals
Optimum Utilization of Resources
Fulfillment of Social Obligations
Stability
Human Development
 Why is managers important?

• Organizations need their managerial skill and ability

• Organizations faces a lot of challenges
• Managers play an important role in identifying
critical issues and crafting responses
• Managers are critical at getting things done
• Quality of relationship between employee and
direct supervisors
What does managers do?
Universality of Management
KEY CONCEPTS/FUNCTIONS
Planning
Select goals
& ways to
attain them
Controlling Organizing
Monitor activities & Assign
make corrections
responsibility
for tasks

Leading
Use
influence to
motivate
 KEY CONCEPTS/FUNCTIONS

• PLANNING
- Planning is the process of making decisions
about future. It is the process of determining
enterprise objectives and selecting future courses
of actions necessary for their accomplishment. It
is the process of deciding in advance what is to
be done, when and where it is to be done, how it
is to be done and by whom.
ORGANIZING
- Organising is concerned with the
arrangement of an organisation’s resources -
people, materials, technology and finance in
order to achieve enterprise objectives. It involves
decisions about the division of work, allocation
of authority and responsibility and the
coordination of tasks.
STAFFING
- Staffing is the function of employing
suitable persons for the enterprise. It may
be defined as an activity where people are
recruited, selected, trained, Developed,
motivated and compensated for manning
various positions
Directing/Controlling
- The function of guiding and supervising the activities
of the subordinates is known as directing .
Points to ponder:
1. Leadership
2. Motivation
3. Communication
4. Supervision
Controlling
- The objective of controlling is to ensure that
actions contribute to goal accomplishment. It helps
in keeping the organisational activities on the right
path and aligned with plans and goals