Management

Pooja Sehgal, GBS, Noida

Management

• Management in some form or another is an integral part of living and is essential wherever human efforts are to be undertaken to achieve desired goals.

• The recorded history shows application of some current management techniques as far back as 5000 B.C.

• The Egyptian pyramids, built as early as 3000 B.C., required the organized efforts of over 100,000 workers.

Management

• It would be natural to assume that all functions of modern management namely, planning, organizing, directing and controlling played a significant role in the construction of these monuments.

• The Importance of management was highlighted by the late president of United states, John Kennedy when he said that, the role of management in our society is critical in human progress.

Management

• Good Management is the backbone of successful organizations.

• Management is essential for organized life and necessary to run all types of organizations.

Management : Definitions

• Many management thinkers have defined management in their own ways.

• “Management is a set of activities directed at the efficient and effective utilization of resources in the pursuit of one or more goals.” By Van Fleet and Peterson

Management : Definitions

• Management is the accomplishment of results through the efforts of other people.

(Lawrence A. Appley)

• Management is a process of planning organising, actuating and controlling to determine and accomplish the objectives by the use of people and resources. (Terry G.)

Management : Definitions

• Management is working with human, financial and physical resources to achieve organizational objectives by performing the planning, organizing, leading and controlling functions. (Megginson, Mosley and Pietri)

Management : Components Human

Resources

Effective & Efficient

utilization

Effective & Efficient

utilizaton

Financial Resources

Physical resources

Goals

Informational resources

Managerial activities

Fig: Components of Management

Management Process

• Management is considered a process because it involves a series of interrelated functions. The management process includes: Planning, organizing, directing and controlling functions.

MANAGEMENT PROCESS

Planning Organizing Leading Controlling

Achievement of Goals

Lead To

Planning

• Planning is considered to be the central function of management and determines an organization’s direction.

• Planning is a management function that involves defining goals, establishing strategies for achieving those goals and developing plans to integrate and coordinate activities.

Organizing

• A management function that involves arranging and structuring work to accomplish the organizational goals.

• The function of organizing is primarily concerned with– Identifying the tasks that must be performed.– Assigning these tasks to personnel while defining

their authority and responsibility.– Coordinating all these activities.

Leading

• A management function that involves working with and through people to accomplish organizational goals.

• The leading function is concerned with leadership, communication, motivation and supervision so that the employees perform their activities in the most efficient manner possible in order to achieve the desired goals.

Controlling

• A management function that involves monitoring, comparing and correcting work performance.

• The function of control consists of those activities that are undertaken to ensure that the events do not deviate from the prearranged plans.

Features of Management

• Organised activities• Existence of objectives• Relationship among resources• Working with and through people• Decision-making

Organised activities

• Management can be called as a process of organised activities

• The organised activities may take a mixture of forms ranging from a strongly structured organisation to a very relaxed organisation. It can be a company like Tata Iron and Steel Company or a local social club.

Existence of objectives

• Every group or organisation should have an objective or a set of objectives.

• Without objectives, it becomes difficult to identify the direction in which organised group

activities are headed.

Working with and through people

• Management entails engaging people and getting organisational objectives accomplished through them.

• The basic idea is to delegate and assign specific duties and responsibilities to subordinates.

Relationship among resources

• The essence of management is the integration of the various organisational resources.

• Management is concerned with the proper utilisation of human resources.

Decision-making

• Decision-making involves selection of the best alternative out of the available alternatives.

• The quality the decision selected by the manager, determines the organisation's performance and the future of the organisation. Therefore, the success or failure rate of a manager can be judged by the quality of decisions he/she makes.

Nature of Management

Management is a universal Process

• Where there is human activity, whether individual or joint there is management.

• The basic nature of management activity remains same in all areas, whether the organization to be managed is a family, club, trade union, trust or the government.

Management is a Factor of Production

• Management is regarded as a factor of Production

• In the Modern industrial set up, qualified and efficient managers are essential to reap the fruits of huge production in business where the pattern of production has become capital intensive.

Management is a Goal Oriented

• The most important goal of all management activity is to accomplish the objectives of an enterprise.

• Management at different levels seeks to achieve these goals in different ways.

Management is supreme in thought & Action

• Determination of the objectives of an enterprise tests the collective wisdom and sense of imagination of its management.

• The objectives should be neither too high sounding or difficult to achieve.

Management is a Group Activity

• For the success of an enterprise, it is necessary that all the human and physical resources are efficiently coordinated to attain the maximum levels of productivity.

Management is a Social Science

• Management means getting the tasks done by different people with different qualities. This involves dealing with individuals .

Management is an Important Organ of Society

• Management shares a direct relationship with society. While the society influences the managerial actions, managerial actions influence the society.

Significance Of Management

• Encourages Initiative

• Encourages Innovation

• Facilitates growth and expansion

• Improves life of workers

Significance Of Management

• Improves corporate image

• Motivates employees

• Optimum use of resources

• Reduces wastage

Significance Of Management

• Increases efficiency

• Improves relations

• Encourages Team Work