Management &

Entrepreneurship
BY : NITHIN NV A S S I S TA N T P R O F E S S O R I S E D E P T.
 Course objectives:
The objectives of this course is to
1. Understanding the fundamentals management functions of a manager. Also explain
planning and decision making processes.
2. Getting know about the organizational structure, staffing and leadership process.
3. The understanding of motivation and different control systems in management.
4. Understanding of Entrepreneurships and Entrepreneurship development process.
5. Illustrating Small Scale Industries, various types of supporting agencies and financing
available for an entrepreneur.
6. Finally the preparation of project report, need significance of report. Also to explain
about industrial ownership.
Management..?
Definition of management:
Simplest definition is that it is defined as the art of getting things Done
through people.

Management can also be defined as The process consisting of planning,

organizing, actuating, and controlling performed to determine and
accomplish the use of people and resources. Is systematic way of doing
things.
Authors :
“ Management is a multipurpose organ that manages a
business, manages a manger and manages workers and
work.”
-- Peter Drucker

“Management is knowing exactly what you want to do

and then seeing that they do it the best and cheapest
ways.”
-- F.W. Taylor
Scope of Management Science
Subject-matter of Management
Management is considered as a continuing activity made up
of basic management functions like planning, organizing,
staffing, directing and controlling. These components form
the subject-matter of management.
Functional Areas of Management
Financial Management: Financial management includes forecasting, cost
control, management accounting, budgetary control, statistical control, financial
planning etc.

Human Resource Management: Personnel / Human Resource Management

covers the various aspects relating to the employees of the organisation such as
recruitment, training, transfers, promotions, retirement, terminations,
remuneration, labour welfare and social security, industrial relations etc.
Functional Areas of Management
Marketing Management: Marketing management deals with
marketing of goods, sales promotion, advertisement and publicity,
channels of distribution, market research etc.
Production Management: Production Management includes
production planning, quality control and inspection, production
techniques etc.
Material Management: Material management includes purchase of
materials, issue of materials, storage of materials, maintenance of
records, materials control etc.
Functional Areas of Management
Purchasing Management: Purchasing management
includes inviting tenders for raw materials, placing orders,
entering into contracts etc.
Maintenance Management: Maintenance Management
relates to the proper care and maintenance of the buildings,
plant and machinery etc.
Office Management: Office management is concerned with
office layout, office staffing and equipment of the office.
Forecasting
Planning
Organizing
Staffing
Directing & Motivating
FUNCTIONS OF
Controlling MANAGEMENT

Co-ordinating
Communication
Leadership
Decision Making
Goals of management
Organization al Goals
• Be Specific
• Create Realistic Objectives
• Set Deadlines
• Give clear feedback to
employees
• Delegate work that’s
engaging
• Improve coaching skills
Social Goals
• Promote Industrialization & Large
Scale Employment
• Help people to develop new skills
and develop quality products
• Avoid hiring and firing
• Support cleanliness, education,
development etc..
• Support proper disposals of wastes as
per law.
Personal Goals
• Don’t see workers as like tools and see like
humans.
• Maintain good human relationships with
employees.
• Share ur profit with ur employees, Infosys
and Perhaps was the 1st company in India to
offer company shares to employees.
• Treat all workers equally without any bias of
colour, caste, religion or language.
• Pay same wages to both ladies and men, for
the same work done.
LEVELS OF MANAGEMENT :
UPPER LEVEL
• LONG TERM GOALS, PRODUCTS, MARKETS,
BUSINESS ORGANIZING.
• JOBS LIKE, CEO, COO, CTO, CFO, VP, MD

MIDDLE LEVEL
• INTERPRETS PLANS AND SET ACTIONS.
• JOBS LIKE, REGINAL PLANT MANGERS,
SUPERINTENDENTS, DEPARTMENTAL
HEADS.

LOWER LEVEL
• IMPLEMENTS PLANS, DIRECTS SUPERVISIONS
OF WORKERS AND THEIR WORK.
• TEAM LEADER, ASSISTANT MANAGER,
FOREMEN, SHIFT MANAGERS SUPERVISORS.
 Roles of Management
 Interpersonal roles
Figure Head
Leader
Liaison

 Decision roles
Entrepreneur
Disturbance Handler
Resource Allocator
Negotiator

Information roles
Monitor
Disseminator
Spokesman
Evolution of Management
Management is Very operative where ever the group of people lives together and works together
India
Ramayana
Mahabharata
“ Artha Shastra “ written by Koutilya in 3rd BC, Deals with topics of trade and management.
Rome – philosophers
Catholic Church
Egyptian’s
Greece
COMPARISONS ADMINISTRATION MANAGEMENT

Management is a thing of a business

The administration is a process of administering an
Meaning organization and organized way of managing
organization by a group of people.
people.
Authority Top-level Lower and Middle level
Concerned with Policy Formulation Policy Implementation
Role Decisive Executive
Area of Operation Fully controlled over the activities Worked under administration

Decides When it should be done? and What should be done? How will it be done? and Who will do the work?

Government offices, business enterprises, military,

Applicable to Profit-making organizations
religious, hospitals, clubs and educational organizations.

Key Person Administrator Manager

Function Determinative and Legislative Governing and Executive
Making the best possible allocation of limited
Focus on Managing work
resources.
Owners, who get a return on the capital invested by
Represents Employees, who work for remuneration
them.
 Management Cycle
Planning

Controlling Organising

Directing Staffing
Planning ?
 Planning
 Planning is referred to as “deciding in advance” as to what to do, how to do, when
to do and who has to do it.
 It is an Intellectual process, which requires a manager to think before acting. It is
nothing but thinking in advance.
 Planning involves selection of objectives and goals and determines the way and
means of achieving them.
 It must be efficient in such a manner so as to achieve the designed goals at the
least cost.
 Importance of planning

 It overcomes uncertainty, change and minimizes risk.

 It facilitates effective control.
 It focuses attention and concentration only on the objectives
of enterprise.
 It makes economic operation and leads to success.
 It forms the bridge between the present and the future.
Outlines of Planning
1. Planning provides direction
2. Planning minimizes risk and uncertainty
3. planning ensures co-ordination
4. planning leads to economy
5. planning facilitates decision making
6. planning reduces overlapping and wastage of efforts
 Purpose of planning

 Toselect from many available alternatives so as to achieve the objectives of the

enterprise, economically, effectively and efficiently.
 To direct all other functions of management.
 To set up the goals of an enterprise to break-up into more easily segmented goals.
 To form the basis for budget.
 To provide effective control.
 To focus the vision on the objectives and goals.
Types of plans
 Difference between
policy and procedure
 Hierarchy of plans

Goals
&
Objectives

Strategies
Single use plans and Standing
plans
Action plans
 Organizing
 “Organization provides the structure, the frame on which the
management of the enterprise is based”.

 The term organization is used in two different senses. In the

first sense it is used to denote the process of organizing and
the second is used to denote the result of that process called
organization structure.
Definiation
“Organization is system of co-operated activities of two or more
persons “
--- Chester Bernard

“Organization is a form of human association for the attainment of a

common purpose.”
-- Mooney & Relly
Nature of Organization
1. Organization is made of group of people.

2. Organization aims at common goals and not personal goals.

3. Organization have both vertical and horizontal relationships.

4. organization establishes authority or chain of command.

5. Dynamics of Organization.
 Purpose of an organization
 Establishes the pattern of relationship by giving duties and
responsibilities to an individual or group.
 Give the authority, responsibilities and duties of each
individual or group.
 Provides adequate communication.
 Coordinates or integrates and controls the activities of
individuals or groups to achieve common goals.
 Types of organization
1. Line organization

2. Functional or staff organization

3. Line and staff organization

4. Committee organization

5. Project/Product organization
Line organization
Functional or staff
organization
Line and
staff organization
Project/Product
organization
Committee Organization
1. Ad-hoc Committee
2. Standing or Permanent Committee
3. Advisory Committee
4. Educational Committee
 MANAGEMENT AND ENTREPRENEURSHIP FOR IT INDUSTRY
[ As per the Choice Based Credit System (CBSC) Scheme]
Module -1 , Assignment – 1
1. Define Management and explain management functions.
A. difference between management and administration
2. Define Planning and explain steps involved in planning.
A. Explain importance of planning.
3. Define Organization and explain nature of organization.
A. Briefly discuss about the types of organization and explain line and committee
organization.
4. Explain in detail with levels of management.
5. Explain the goals of organization in detail. Submission Date
September 4th
2019