MANAGEMENT CONCEPTS

AND FUNDAMENTALS
DEFINITION-MANAGEMENT
F.W. Taylor -Art of knowing what you want to do and
then seeing that it is done the best and cheapest way.
Henry Fayol To Manage is to forecast, to plan, to
organise, to command, to co-ordinate and to control.
Peter F.Drucker Management is work and as such it
has its own skills, its own tools and its own
techniques.
Management is the art of getting things done
through and with people.
IMPORTANCE OF
MANAGEMENT

The importance of management may be traced

in the following contexts:
Effective Utilization of Resources
Development of Resources
To incorporate Innovations
Integrating Various Interest Groups
Economic growth of the society
Functions of Management

The following are the functions of

management:
Planning,
Organizing,
Staffing,
Directing or Leading and
Controlling.
Management Process

Planning
Choose Goals

Controlling Organizing
Monitor & measure Working together

Directing
Coordinate
Staffing
Employment
Planning

Planning means the determination of what is to

be done, how and where it is to be done, who is

to do it, and how the results are to be evaluated.

Organising

Organising refers to the systematic arrangement

of different aspects of the business operations to

achieve the planned objectives.

Identifying and grouping works (Human

organization and material organization

Staffing

Staffing involves man in the organizational

structure through proper and effective selection,
appraisal and development of personnel to fill
the roles designed into the structure.

Identifying right person for each job

Directing

In Directing, managers determine direction, state

a clear vision for employees to follow, and help
employees understand the role they play in
attaining goals.
Leading-directing-motivating-actuating-inspire
Controlling

In controlling, managers evaluate how well the

organization is achieving its goals and takes

corrective action to improve performance.

Establishing standards of performance

Innovation & Representation

Creating new ideas

Representing his organization before various

outside groups
Roles of Manager
A role is a set of specific tasks a person performs
because of the position they hold.
Roles are directed inside as well as outside the
organization.
There are 3 broad role categories:
1. Interpersonal
2. Informational
3. Decisional
Interpersonal Roles

Roles managers assume to coordinate and

interact with employees and provide
direction to the organization.
Figurehead role-Doing Lunch-Attending wedding

Leader role Encourage the employee

Liaison role-Contact outside his vertical chain

Informational Roles

Associated with the tasks needed to obtain

and transmit information for management of
the organization.

Monitor role-Scan his environment

Disseminator role-Passing information

Spokesperson role-Present before outside

Decisional Roles

Associated with the methods managers use to

plan strategy and utilize resources to achieve
goals.
Entrepreneur role-Innovation to improve
Disturbance handler role-Solutions to problems
Resource allocator role-Divide work and
delegate authority
Negotiator role
Three Levels of Management

Top
Managers
(Board of
chairman)

Middle Managers
(sales managers)

First-line Managers
(Supervisors)

Non-management
Managerial Skills
There are three skill sets that managers
need to perform effectively.
1. Conceptual skills
2. Human skills
3. Technical skills
Skill Type Needed by Manager
Level

Top
Managers

Middle
Managers

Line
Managers

Conceptual Human Technical

MANGEMENT IS AN ART AND
SCIENCE

Science
Art
Empirically Derived
Practical know how
Critically tested
Technical skills General principles
Concrete results Cause and effect
Creativity relationship
Personalised nature Universal
applicability
Management Key Concepts
Organizations: People working together
and coordinating their actions to achieve
specific goals.
Goal: A desired future condition that the
organization seeks to achieve.
Management: The process of using
organizational resources to achieve the
organizations goals
Cont.
Resources are organizational
assets and include:
Man,
Machinery,
Materials,
Money
Managers - to meet its goals.
Organizational Performance
Managers use resources effectively and
efficiently to satisfy customers and to achieve
goals.
Efficiency: A measure of how well
resources are used to achieve a goal.
Effectiveness: A measure of the
appropriateness of the goals chosen (are
these the right goals?), and the degree to
which they are achieved.
Thank you