principles of management- lecture 1

1Alauddin M A Wadud

INTRODUCTION to

MANAGEMENT

2Alauddin M W Wadud

What is Management ?

A set of functions directed at the efficient and effective uses of resources in the

pursuit of Organizational goals.

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Efficient

Using resources wisely and in a cost effective manner.

EffectiveMaking right decisions and

successfully implementing that.

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OrganizationA collection of people working together to achieve Organizational Goal.

Goal

Desired outcome that an Organization istrying to achieve in future.

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Resources

■Men and Women■Materials■Machines■Methods■Money■Market

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Men & WomenMaterialsMachinesMethodsMoney

Markets

Goal

Planning

ControlOrganizin

g

Leading

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Should We Study Management?

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Principles of Management

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What is Principles ?Fundamental Statement providing

Guidelines to action.

A table of Materials- Experience

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Characteristics of Good Management

• Should be practical• Relevant to the Organizational Structure• Consistent• Flexible

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Kinds of Manager

• Classifications based on Levels• Classifications based on Areas

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Classifications of Manager- Level wise

• Top Level Managers• Middle Level Managers• First Line Managers

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Top Managers

Middle Managers

First-line Managers

Non-manager

Three Levels of Management

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Top Level Managers

Basic Functions :

• Establish Organizational Goal.• Decide overall strategy.• Decide operating policies.• Diversification decisions.

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Middle Managers

Basic Functions:

• Implementing policies, plan decidedby the Top level managers.• Coordinate the activities of Lower levelmanagers.• Supervise/monitor activities of Lowerlevel managers.

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First Line Managers

Basic Functions:

• Supervise/monitor activities of operating employees.• Coordination with the operatingemployees.

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Classification of Managers- Area wise

• Marketing Manager.• Finance Manager.• Production Manager.• Administrative Manager.• IT Manager.• Human Resource Manager.

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Basic Management Function

• Planning• Organizing• Leading • Controlling

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Four Functions of Management

PlanningChoose

Goals

OrganizingWorking

together

Leading

Coordinate

ControllingMonitor & measure

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Planning

• Setting Goals.

• Decide how best to achieve Goals.

Selecting a course of actions from a set of alternatives.

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Organizing

Grouping activities and resources ina logical fashion.

Allocating resources as needed.

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Leading

A set process used to get members of the Organizations working together to the interestof the Organization.

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Controlling

• Monitor activities.• Coordinate actions.• Provide Feedback.• Performance appraisal.• Give corrections.• Reward and Punishment.

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Management - Science or Arts ?

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See U in the next Class !!

till then bye …..