Management: Science, Theory & Practice

METHODS OF ASSESSMENTAttendance 05Quizzes, Case Study, etc 15 Seminar & exam 20Final exam 60Total1001Reference Books:

Essentials of ManagementHarold Koontz & Heinz WeihrichManagementHeinz Weihrich, Mark V Cannice, Harold KoontzManagementByJames Arthur Finch Stoner, Freeman R, Jr Gilbert Daniel R

2By the end of today's session you will understand1) Why learn Management, What is Management? 2)Meaning, definition, objectives and importance of Management 3) Nature of Management 4)Functions of Management 5) Who are managers?6) Role of Managers, Managerial skills

3Why study this subject?1)To understand the process of business management and its functions, and2) To familiarize the students with current management practices. .3) To understand the importance of ethics in business, and4) To acquire knowledge and capability to develop ethical practices for effective management.

4Introduction to Management Chapter15Why Study Management?

6The Value of Studying ManagementThe universality of managementGood management is needed in all organizations.The reality of workEmployees either manage or are managed.Rewards and challenges of being a managerManagement offers challenging, exciting and creative opportunities for meaningful and fulfilling work.Successful managers receive significant monetary rewards for their efforts.

Need for Management?7Who Are Managers?ManagerSomeone who coordinates and oversees the work of other people so that organizational goals can be accomplished.

8Definition of Management:Management is the process of designing and maintaining an environment in which individuals, working together in groups, efficiently accomplish selected aims.

9What Is An Organization?An Organization DefinedA deliberate arrangement of people to accomplish some specific purpose (that individuals independently could not accomplish alone).Common Characteristics of OrganizationsHave a distinct purpose (goal)Composed of peopleHave a deliberate structure

10Managerial Concerns:

EfficiencyDoing things rightGetting the most output for the least inputs

EffectivenessDoing the right thingsAttaining organizational goals

11Management Strives For:Low resource waste (high efficiency)High goal attainment (high effectiveness)ResourceUsageEfficiency (Means)GoalAttainmentEffectiveness (Ends)Low WasteHigh AttainmentEfficiency and Effectiveness in Management

12113Managers have to cope with diverse and far-reaching challengesTo keep pace with ever-advancing technologyTo find ways to incorporate the Internet and e-business into their strategies and business modelStrive to remain competitive in a dynamic and far reaching world013Managerial LevelsMiddle Line ManagersTop Line ManagersFirst Line ManagersNon Managerial Employees14First-line managers hold positions like office manager, shift supervisor, or department manager. First-line managers are the only managers who dont supervise other managers.They are closest to employees and have daily contact with employees.Are at the lowest level of management and manage the work of nonmanagerial employees

Middle managers hold positions like plant manager, regional manager, or divisional manager. Note how middle managers responsibilities are influenced by those of top managers.Note also how their responsibilities are more narrowly focused than of top managers.Manage the work of first-line managers

Top managers hold positions like chief executive officer (CEO) or chief operating officer (COO) and are responsible for the overall direction of the organization.

Are responsible for making organization-wide decisions and establishing plans and goals that affect the entire organizationLevels of ManagementTop Level ManagementMiddle Level ManagementFirst-LineManagement15The jobs and responsibilities of the four kinds of managers are shown in Exhibit 1.2.Top ManagersResponsible forCreating a context for changeDeveloping attitudes of commitmentand ownership in employeesCreating a positive organizational culture through language and actionMonitoring their business environments16Top managers hold positions like chief executive officer (CEO) or chief operating officer (COO) and are responsible for the overall direction of the organization.Middle ManagersResponsible forSetting objectives consistent with top management goals, planning strategiesCoordinating and linking groups, departments, and divisions

Monitoring and managing the performance of subunits and managers who report to themImplementing the changes or strategiesgenerated by top managers

17Middle managers hold positions like plant manager, regional manager, or divisional manager.

Note how middle managers responsibilities are influenced by those of top managers.

Note also how their responsibilities are more narrowly focused than of top managers.

First-Line ManagersResponsible forManaging the performance of entry-level employeesTeaching entry-level employees how to do their jobs

Making schedules and operating plans based on middle managements intermediate-range plans18First-line managers hold positions like office manager, shift supervisor, or department manager.

First-line managers are the only managers who dont supervise other managers.

They are closest to employees and have daily contact with employees.

Management Levels and Functional Areas

19Types of ManagersGeneral ManagersSupervise the activities of several departments.Functional ManagersSupervise the activities of related tasks.Common functional areas:MarketingOperations/productionFinance/accountingHuman resources/personnel managementProject ManagersCoordinate employees across several functional departments to accomplish a specific task.20What Do Managers Do?Functional ApproachPlanningDefining goals, establishing strategies to achieve goals, developing plans to integrate and coordinate activities.OrganizingArranging and structuring work to accomplish organizational goals.LeadingWorking with and through people to accomplish goals.ControllingMonitoring, comparing, and correcting work.

21ResourcesHumanFinancialRaw MaterialsTechnologicalInformationPerformanceAttain goalsProductsServicesEfficiencyEffectivenessLeadingUse influence to motivate employeesPlanningSelect goals and ways to attain themOrganizingAssign responsibility for task accomplishmentControllingMonitor activities & make corrections22

23What Do Managers Do? (contd)Skills ApproachTechnical skillsKnowledge and proficiency in a specific fieldHuman skillsThe ability to work well with other peopleConceptual skillsThe ability to think and conceptualize about abstract and complex situations concerning the organization24

Skills @ Different Management Levels25Conceptual Skills:Using information to solve business problemsIdentifying of opportunities for innovationRecognizing problem areas and implementing solutionsSelecting critical information from masses of dataUnderstanding of business uses of technologyUnderstanding of organizations business model

Managerial Roles Approach (Mintzberg)

Managers play various roles as necessary while performing their management functions so as to achieve organizational objectives.26What Companies Look for in ManagersTechnicalInterpersonal Conceptual Diagnostic Communication Decision-Making Time-Management17New Workplace Issues and ChallengesTechnology and SpeedGlobalization and DiversityKnowledge, Learning, Quality, and Continuous ImprovementChange, Creativity, Innovation, and EntrepreneurshipParticipative Management, Empowerment, and TeamsKnowledgeManagementEthics and Social ResponsibilityNetworking and Boundaryless Relationships2814 Principles of Management

291. Division of Labor

2. Authority & Responsibility

3. Unity of Command

4. Unity of Direction

5. Equity

6. Order

7. DisciplineWork of all kinds must be divided & subdivided and allotted to various persons according to their expertise in a particular area.

308. Initiative

9. Remuneration

10. Stability of Tenure

11. Scalar Chain

12. Sub-Ordination of Individual Interest to common goal

13. Espirit De Corps

14. Centralization Initiative means eagerness to initiate actions without being asked to do so.Management should provide opportunity to its employees to suggest ideas, experiences& new method of work.

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