NATURE AND SIGNIFIANCE OF MANAGEMENT

MANAGEMENT

Management is the process of designing and maintaining an environment in which individuals work together in groups and efficiently accomplish desired goals. (Koontz and Weihrich) Management is establishing an effective environment for people operating in formal operational groups. (Koontz and ODonnel)

Management is the process of getting things done with the aim of achieving goals effectively and efficiently

MANAGEMENT

PROCESS PROCESS
Planning Organizing Planning Organizing Staffing, Directing Staffing, Directing Controlling Controlling

EFFECTIVENESS EFFECTIVENESS
Competing the given Competing the given work on time work on time

EFFECIENCY
Complete work on time Min. cost, max. use of Resources.

FEATURES

Goal oriented process Group activity Intangible force MGT of work, people and operation Pervasive (applicable in Physical Financial and Informational Resources Human,
all organization)
PLANNING ORGANIZING LEADING CONTROLLING

Multi-dimensional Continuous Dynamic (adapting to

changes in environment)

OBJECTIVES

ORGANISATIONAL ORGANISATIONAL
SURVIVAL SURVIVAL PROFIT PROFIT GROWTH GROWTH

Quality products Employment User-friendly production process Financial support

SOCIAL SOCIAL

Financial Social needs Good working Conditions Growth needs

PERSONAL

IMPORTANCE

Helps in achieving group goals Creates Dynamic Organization Increases Efficiency Helps in achieving personal objectives Helps in development of society

FUNCTIONS OF MANAGEMENT

PLANNING

ORGANISING

CONTROLLING

STAFFING

DIRECTING

MANGEMENT AS SCIENCE

Systematic body of knowledge Based on principles Universal Validity MANAGEMENT CAN BE REGARDED AS INEXACT SCIENCE.

MANAGEMENT AS AN ART

Based on theoretical knowledge Personalized Application Practice and Creativity MANAGEMENT IS A FULL-FLEDGED ART.

MANAGEMENT AS PROFESSION

Systematic body of knowledge Professional Association Ethical Code of Conduct Restricted Entry Fees as Remuneration. MANGEMENT IS STILL TO BE EMERGED AS A PROFESSION.

LEVELS OF MANAGEMENT

Makes policies, arrange resources, Coordinate and control activities of different departments. Linking pin, Interpret goals into activities, Appoint staff, motivate workers. Instruct workers, assign work, close supervision, discipline, convert plans into actual performance.

TOP
BOD, Chairman MD President

MIDDLE
Departmental heads, Executives Functional Managers

LOWER Supervisors, Foremen Inspectors Workers

COORDINATION

Process of achieving unity of action among inter-dependent activities and harmonious implementation of plans for achievement of results. Process by which a manager synchronizes the activities of different departments.

PLANNING

ORGANISING

CONTROLLING

STAFFING

DIRECTING

COORDINATION ESSENCE OF MANAGEMENT

Like a thread in garland, it is a part of all management functions and levels

PLANNING
ORGANIZING

STAFFING DIRECTING
CONTROLLING TOP LEVEL MIDDLE LOWER

Master Plan and Supportive Plans. Resources- Authority Responsibility Accountability Skills of Person JOB Assigned Superior Instructions Subordinate Execution Standards Set Actual Performance Work Done according to Overall Policies Top and Lower level Management Activities of workers Overall Plan

NATURE OF COORDINATION

Integrates group efforts Ensures unity of Action Pervasive (needed at all levels of management) Responsibility of all managers Continuous function Deliberate function

COORDINATION

NEED Growth in Size Functional Differentiation Specialization

IMPORTANCE Unity of Action Efficiency and Economy Harmonious Implementation of Plans High Morale of Employees