management and principals

1
What is Management ?

• One of the most significant human activities is
  managing resources( the 4Ms Men, Machines,
  Material, and Money). Management ensures the
  coordination of individual efforts in groups.
• Management is comprising of five basic functions
  Planning, Organizing, Staffing, Leading, and
  Controllingwhich constitute the managerial
  process.
• Management has variety of applications and
  interpretations, all correct within a given set
  of conditions.

2
Management Defined

• Koonz and Weihrich define management as the
  process of designing and maintaining an
  environment in which individuals, working
  together in groups, efficiently accomplish
  selected aims.
• Mc Farland defines management a process by
  which managers create, direct, maintain and
  operate purposive organizations, through
  systematic, coordinated, cooperative human
  effort.
• As per these definitions management connotes
  following implications Carrying out functions of
  Planning,Organizing,Staffing,Leading, and
  Controlling.
• It applies to managers at all levels of
  hierarchy the goal of all managers is to produce
  surplus the aim of all managers is higher
  productivity, effectiveness and efficiency.

3
Management Principles

• PLANNING

A PLAN IS A REAL THING, AND THINGS PROJECTED ARE
EXPERIENCED. A PLAN ONCE MADE AND VISUALIZED
BECOMES A REALITY ALONG WITH OTHER REALITIES---
NEVER TO BE DESTROYED BUT EASILY TO BE ATTACKED.
John Steinbeck
4
Planning Defined

• Planning is selecting information and making
  assumptions regarding future to formulate
  activities necessary to achieve organizational
  objectives.
• It is composed of numerous decisions oriented to
  the future.
• It represents the expenditure of thought and time
  now for an investment in the future.

5
Advantages of Planning

• It makes for purposeful and orderly activities.
• Points out need for future change.
• Answers what if questions.
• Provides for Basis for Control
• Encourages Achievement.
• Compels visualization of Entirety.
• Increases and balances utilization of facilities.
• Assists managers in gaining status- by rendering
  confident and aggressive leadership.

6
Disadvantages of Planning

• Planning is limited by the accuracy of
  information and future facts.
• Planning costs too much.
• Planning has psychological barriers.
• Planning stifles initiatives.
• Planning delays action.
• Planning is overdone by planners.
• Planning has limited practical value.

7
Types of Management Plans

• One common ingredient of all planning is time
  which identifies Tactical Planning which
  encompasses Short and Intermediate range
  planning, and Long range for five years.
• Strategic Planning It consists of six distinct
  steps-Determining objectives gathering and
  analyzing information assessing the strategic
  dimensions of the environment affecting the
  organization Conducting a resource audit of the
  firm Establishing strategic alternatives for
  courses of action, and Choosing a strategic
  alternative to pursue and implement.

8
Factors that affect strategy Selection

• Managerial perception of external
  dependence(owners,competitors, customers,govt.comm
  unity.).
• Managerial Attitudes towards Risk
• Managerial awareness of past enterprise
  strategies
• Managerial power relationships and organizational
  structure.

9
Role of Management

• Henry Mintzberg has identified ten common
  managerial roles that can be grouped into three
  categories
• Interpersonal role as Figure Head- performing
  ceremonial and social duties as the
  organizations representative as
  Leader-motivating subordinates to get the job
  done properly Liaison-serving as a link in a
  horizontal chain of communication.
• Informational Role- Recipient of information
  about operation of an enterprise Disseminator-
  passing information to subordinates
  Spokesperson-transmitting selected information to
  outsiders
• Decisional roles- Entrepreneurs designing and
  initiating a change within an organization
  Disturbance handler taking corrective action
  when the need arises Resource allocator
  deciding exactly who should get what resources
  Negotiator dealing with persons and various
  groups of persons.

10
Organizing

• Organizing involves determining how activities
  and resources are to be grouped. It is the
  management functionthat focuses on allocating and
  arranging human and non-human resources, in order
  to carry out plans successfully.
• Organizing is a continuous process of determining
  which tasks are to be done how tasks can be
  best combined into specific jobs how jobs can be
  grouped into various units that make up the
  structure of the organization, and authority and
  reporting relationships within the corporate
  hierarchy.
• Effectiveness of a firms organizational
  structure is a key element in determining its
  success or failure.
• Failure to organize properly can adversely affect
  even the best of plans.

11
Staffing and Leading

• Staffing involves filling, and keep filled, the
  positions in the organizational structure.
• Staffing consists of determining the manpower
  requirements, inventorying the people available,
  and recruiting, selecting placing, inducting,
  compensating, promoting, appraising, planning
  careers of and training and otherwise developing,
  both recruits and existing job holders to achieve
  their goals effectively and efficiently.
• Leading is defined as the management function
  of influencing, motivating and directing human
  resources toward the achievement of
  organizational goals.Leading includes
  communicating with others, leadership styles and
  approaches, motivating people to put forth
  efforts required, .
• It is an act of making things happen.

12
Controlling

• It is the final step in management process.
• Controlling can be defined as continual analysis
  and measurement of actual operations against the
  established standards developed during the
  planning process.
• It involves Measuring performance against goals
  and plans Showing where negative deviation
  exists and Determining remedial measures to
  correct deviations.