*MANAGEMENT THEORY & PRACTICE Unit I

Chapter 1: Introduction: What is and why study management?

Chapter 2: Problem Solving and Decision Making: Creative Problem analysis

Chapter 3: Problem solving and decision-making: Managerial Decision Making.

Chapter 4: Planning

Chapter 1: Introduction To Management

Management Defined. Why Study Management Management: Science Or Art?Managerial Skills. Principles Of Management. Distinguishing Managers And Entrepreneurs.Key Characteristics To Understanding Management. *

1.1 Meaning Of Management

It is the art of getting work done by others in order to achieve a pediment objective. Activity that converts disorganized human & physical resources into useful and effective results.

Definitions:Management is a distant process consisting of activities of planning, organizing, actuating & controlling performed to determine and accomplish stated objectives with the use of human beings and other resources. (Terry. G.)

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1.1 Meaning Of Management

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Men MachineMoneyMaterial Methods Markets

PlanningOrganizing Directing Actuating Basic Resources Fundamental Functions Stated Objectives

Efficiency & Effectiveness in Management

*Resource UsageGoal AttainmentManagement Strives for:Low Resource Waste (high efficiency)High Goal Attainment (high effectiveness)

Efficiency and effectiveness in managementManagerial Concerns : To ensure how efficiently and effectively managers use resources to satisfy customers and achieve goals.

Efficiency: Doing things right A measure of how well resources are used to achieve a goal. Managers must try to minimize the input of resources to attain the same goal.

Effectiveness: Doing the right things A measure of the appropriateness of the goals chosen (are these the right goals?), and the degree to which they are achieved. Organizations are more effective when managers choose the correct goals and then achieve them.

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1.2 Why Study Management?Management makes human efforts more productive.It brings better equipment, plants, offices , products, services and human relations to our society.Helps in social economic life.Management brings order to endeavors by combining isolated events and disjointed information into meaningful relationships.Theses relationships then work to solve problems and accomplish goals.

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1.3 Management Is Science Or Art? As Art Doing the things in light of the realities of a situation. As Science Organized knowledge underlying the practice .

If science teaches one to know , art teaches one to do..

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1.4 Skill Required at Different Managerial Level*TopManagersMiddleManagersLineManagersConceptualHumanTechnical

1.5 Principles Of ManagementGood management principles should be practical.Relevant to the broad forms of organizational structure.Consistent in that for similar sets of circumstances. Flexible.

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1.6 Key Characteristics of Management

Is PurposefulMakes things happenIs an activity, not a person or group.Is accomplished by, with and through the effort of others.Is usually associated with the efforts of a group.Is intangibleIs aided, not replaced by computers.Is an outstanding means for exerting real impact.

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Analysis of business failures made over many years has shown that a very high percentage of these failures have been due to unqualified or inexperienced management. Unless we can learn to harness human resources and co-ordinate the activities of the people inefficiency & waste in applying technical discoveries will continue. Managing is essential in all organization and at all levels of organization. In an enterprise it is the function not only up to co-operation president and army general but also of the shop supervisor & the company commander. No business executives say that the aim of business is only profit making is their goal. Profit is really only a measure of surplus of sales dollar over expense dollars in carrying out any kind of business. People can accomplish group mission /objectives with the least amount of such inputs as time, money, materials and personal dissatisfactions or where they can achieve as much as possible of desired mission or objective with available resources. If managers cannot be sure whether their goals are effectiveness & efficiency either of themselves or their groups. The aim of managers as managers is fundamentally the same in business and non-business enterprises it is also the same at every level.

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*Manager Someone who works with and through other people by coordinating their work activities in order to accomplish organizational goals

workersSupervisor, shift managers, district/ department/office managers.Executive, vice president, president, managing director, CEO/ chairperson.Regional manager, project leader, plant manager, or division manager1.7 Types of Managers*

1.8 Perceptions of characteristics and role demands

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1.9 Guidelines for managerial excellence in success Know the companys goals.Select effective sub ordinatesDelegate authorityCheck to ensure that the results obtained are satisfactorySelect your group members carefullyMotivate themDevelop good communicationStrive to attain effective interpersonal relationshipsMinimize conflicts

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Strengthen human relations skillsLearn to speak & listen effectivelySet high standardsConsider others point of viewBecome effective in decision makingGive scope for new ideasBe a leader and take actionView management as opportunity to influence peopleEvaluate and measure performancesSpend time on important mattersMeticulous planningExpression of emotions and understanding nature to be incorporated.

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Looking At The Better Part Of Other Person.Delegation Of Right Job To The Right Person At The Right TimeEncouraging Employees To Take Up Responsibilities.Appraisal Of Individuals Work Honestly.Evaluate The Group Members ConsistentlyKeep Cost Under ControlIncrease Personal Knowledge *

Conclusion.Management is a single term with complex functions.

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THANK YOU.*

- BY Deparment of Humanitie, BVBCET Hubli*- BY Deparment of Humanitie, BVBCET Hubli- BY Deparment of Humanitie, BVBCET HubliDefinationIt is the process by which managers create, direct, maintain and operate purposive organizations through systematic, coordinated, cooperative human effort. (Me. Farland.)Management is said to be the process of designing & maintaining an environment in which individuals working together in group, effectively accomplish selected aims (Koontz Weihrich)

- BY Deparment of Humanitie, BVBCET Hubli*- BY Deparment of Humanitie, BVBCET Hubli- BY Deparment of Humanitie, BVBCET Hubli- BY Deparment of Humanitie, BVBCET HubliManagerial Concerns : To ensure how efficiently and effectively managers use resources to satisfy customers and achieve goals.

Efficiency: Doing things right A measure of how well resources are used to achieve a goal. Managers must try to minimize the input of resources to attain the same goal.

Effectiveness: Doing the right things A measure of the appropriateness of the goals chosen (are these the right goals?), and the degree to which they are achieved. Organizations are more effective when managers choose the correct goals and then achieve them.

- BY Deparment of Humanitie, BVBCET Hubli*- BY Deparment of Humanitie, BVBCET Hubli- BY Deparment of Humanitie, BVBCET Hubli- BY Deparment of Humanitie, BVBCET Hubli - BY Deparment of Humanitie, BVBCET Hubli*- BY Deparment of Humanitie, BVBCET Hubli- BY Deparment of Humanitie, BVBCET Hubli- BY Deparment of Humanitie, BVBCET HubliAnalysis of business failures made over many years has shown that a very high percentage of these failures have been due to unqualified or inexperienced management. Unless we can learn to harness human resources and co-ordinate the activities of the people inefficiency & waste in applying technical discoveries will continue. Managing is essential in all organization and at all levels of organization. In an enterprise it is the function not only up to co-operation president and army general but also of the shop supervisor & the company commander. No business executives say that the aim of business is only profit making is their goal. Profit is really only a measure of surplus of sales dollar over expense dollars in carrying out any kind of business. People can accomplish group mission /objectives with the least amount of such inputs as time, money, materials and personal dissatisfactions or where they can achieve as much as possible of desired mission or objective with available resources. If managers cannot be sure whether their goals are effectiveness & efficiency either of themselves or their groups. The aim of managers as managers is fundamentally the same in business and non-business enterprises it is also the same at every level.

- BY Deparment of Humanitie, BVBCET Hubli*- BY Deparment of Humanitie, BVBCET Hubli

Types of Managers:First-line Managers: Managers at the lowest level manage the work of non-managerial employees directly or indirectly involved with the production or creation of the organizations products.

Middle Managers: Managers between the first-line level and the top level of the organization who manage the work of first-line managers

Top Managers: Managers at or near the top level are responsible for making organization-wide decisions and establishing plans and goals affecting the entire organization

Managers: Also deal with complicated ethical and social responsibility issues as they plan, organize, lead and control.When considering the managers terrain, managers might ask these questions:What is my role as a manager?What constraints do I face as a manager both within the organization and from the external environment?How does the global environment affect my ability to manage?What can I do to be an ethical and socially responsible manager?

- BY Deparment of Humanitie, BVBCET Hubli*- BY Deparment of Humanitie, BVBCET Hubli- BY Deparment of Humanitie, BVBCET Hubli*- BY Deparment of Humanitie, BVBCET Hubli- BY Deparment of Humanitie, BVBCET Hubli