Principle_and_practices_of_management_aim

8/8/2019 Principle_and_practices_of_management_aim

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Principles and practices of Principles and practices of

managementmanagement

Dr. Bijaya Mishra Dr. Bijaya Mishra


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Wh at is management ?Wh at is management ?

The process of reaching organizational goalsThe process of reaching organizational goals by working with and through people and other by working with and through people and other organizational resources.organizational resources.


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CHARACTERISTICS OF

M ANAGE M ENT

I s a Process /a function.I s a Social Process.I nvolves Group Effort.Aims at achieving predetermined objectives.Required at all levels of managementI s a ProfessionIs comprised of following functions: Planning, Organising,Staffing, Directing, Controlling

I s an art and science


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R ole of managementR ole of management

To guide the organizations towards goalTo guide the organizations towards goalaccomplishmentaccomplishment


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Chapter 1: PowerPoint 1.5Chapter 1: PowerPoint 1.5

Wh at I s A n Organization?

A formal and coordinated group of people w h ofunction to ac h ieve particular goalsT h ese goals cannot be ac h ieved by individuals

acting alone


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The functions of management The functions of management

Managers

Planningactivities toachieve theorganization'sobjectives

Organizing

resources andactivities toachieve theorganizationsobjectives

S taffing

theorganizationwith qualified

people

Directing

employeesactivitiestowardachievementof objectives

C ontrolling

theorganizationsactivitiesto keep iton course


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Functions of management contdFunctions of management contd

PlanningPlanning defining goals, establishing an overall strategy todefining goals, establishing an overall strategy toachieve the goals, developing a comprehensive set of plans toachieve the goals, developing a comprehensive set of plans tointegrate and coordinate activitiesintegrate and coordinate activities

OrganizingOrganizing the structuring of resources and activities tothe structuring of resources and activities toaccomplish objectives in an efficient and effective manner.accomplish objectives in an efficient and effective manner.B ringing people together and tying them together in the pursuitof common objectives.

Enumeration of activities, classification of activities, fittingindividuals into functions, assignment of authority for action


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S taffingS taffing -- hiring people to carry out the work of thehiring people to carry out the work of theorganization.organization.

Directing - act of guiding, overseeing and leading people,motivating, leadership, decision makingC ontrollingC ontrolling monitoring/measuring an organizationsmonitoring/measuring an organizations

performance, comparing results to plans, if needed performance, comparing results to plans, if neededcorrecting actual performancecorrecting actual performance


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M ANAGE M ENT AN D A DM INISTRATI O NDifferent

A dministration Management

F unction of industryconcerned

- with determination of corporate policy

-co

-ordination of finance, production and

distribution

F unction of industry

concerned- in the execution of policy

- within the limits setup by administrationadministration


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On Difference contdOn Difference contd

A process of thinking

more at higher levels

More at higher levelsLess at lower levels

A process of actual

operation.

Less at higher levelsMore at lower levels


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Management I ncludes A dministration

Management is an all inclusive function.Top Management -F ormulation of policy, co - ordination,motivation of personnel.Middle Management -F ormulation of policies to a lesserextent, co - ordination, motivation and planning control.Lower Management -S upervision and control of day today activities including administrative procedures.


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N o Distinction

Cannot distinguish which activities belong toManagement and which to administration .Administration -H igher executive functions ingovernment public utility etc.Management U sed for the same function in the

business sector.


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T h e Organization and I ts Ex ternalT h e Organization and I ts Ex ternalE nvironmentE nvironment


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(a) Competitors, industry size andcompetitiveness, related issues

( b) Suppliers,manufacturers, realestate, services

(c) Labor market,employment agencies,universities, trainingschools, employeesin other companies,unionization

(d) Stock markets, banks, savings andloans, privateinvestors

(e) Customers, clients, potential users of productsand services

(f) Techniques of production, science,computers, information technology

(g) Recession, unemployment rate,inflation rate, rate of investment,

economics, growth(h) City, state, federal laws

and regulations, taxes,services, court system,

political processes(i) Age, values, beliefs,

education, religion,work ethic, consumer

and greenmovements

( j) Competition fromand acquisition by

foreign firms,entry into overseas

markets, foreigncustoms, regulations,

exchange rates

A n Organization s Environment A n Organization s Environment

(j)International

Sector

(d)FinancialResources

Sector(e)

MarketSector

(f)Technology

Sector

(g)EconomicConditions

Sector

(a)IndustrySector

(h)Government

Sector

(c)Human

ResourcesSector

(b)Raw Materials

Sector

(i)Sociocultural

Sector

ORGANIZATION

DOMAIN


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What is CSR What is CSR

H ow companies manage the business processes toH ow companies manage the business processes to produce an overall positive impact on society. produce an overall positive impact on society.

conducting business in an ethical way & in theconducting business in an ethical way & in theinterest of the wider communityinterest of the wider communityResponding positively to emerging societal prioritiesResponding positively to emerging societal priorities

& expectations& expectationsShareholder interest + wider communityShareholder interest + wider communityB eing a good citizen in the communityB eing a good citizen in the community


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B enefitsB enefits

Attraction & retention of staff Attraction & retention of staff Attracts ethically conscious customer Attracts ethically conscious customer Differentiates firm from its competitor and can be aDifferentiates firm from its competitor and can be asource of competitive advantagesource of competitive advantageLead to increased profitability in the long runLead to increased profitability in the long run

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