Date post: | 17-Jul-2015 |
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Principles of Management
Prepared by:
Mehwish Farooq
Learning Outcomes How organization use managerial resource to
achieve organizational goals Distinguish among four functions of management
and its practice Recognize the interpersonal, informational, and
decisional roles played by top level managers. Apply the general skills needed to carry out
managerial responsibilities. Integrate the major elements from the various
perspectives of management theory.
Why study Management Help how to work and deal with co-workers
and in group team How to lead co-workers Solve conflicts between them Achieve team goals Increase performance
……
Job of management is to help an organization make the best use of its recourses to achieve its goals
Definition According to Harold Koontz,
“Management is an art of getting things done through and with the people in formally organized groups. It is an art of creating an environment in which people can perform and individuals and can co-operate towards attainment of group goals
Definition
The attainment of organizational goals in an effective and efficient manner through planning , organizing , leading , and controlling organizational resources.
DefinitionSimply Management is Manipulation of resources to achieve objectives
Resources:4Ms Men Material Money Machine
Functions of Management
Planning Choose appropriate organizational goals
and courses of actions to best achieve those goals
Decide which goals organization will pursue Decide strategies to achieve those goals Decide how to allocate resources to
achieve organizational goals
Planning ExampleDell goal to sell an inexpensive PCsUndercut the prices charged by other companies like apple, compaqSell directly to customers by telephoneMicheal dell acllocate $5,000 to buy labour and other resources
…… In 2000s HP, Apple , Acer achieve
competitive advantage over Dell
performance, style and pricing
Dell follow low cost strategy
HP and Acer also lowered their cost, Dell lost its competitive advantage
Organizing Determining what needs to be done, how it
will be done and who is to do it Organize people into deptt according to job
specific tasks Example Michael Dell hired 100 employees in start Later after success he made more complex
structure
Leading Leadership involves managers using
their powers , personality, influence and communication skills to coordinate people
outcome of leadership is highly motivated and committed workforce
Controlling Monitoring activities to ensure that they are
accomplished as planned
Example
HP and Acer learned how to reduce operational cost
Dell lost its competitive advantage
Levels of management
Top Level Manager
(Strategic Managers)
The firm’s senior executives with overall responsibility for the firm. Developing the company’s
goals Focus on long-term issues Emphasize the growth and
overall effectiveness of the organization
Concerned primarily with the interaction between the organization and its external environment.
.
Middle Level Managers
(Tactical Managers)
Responsible for translating the general goals and plans developed by strategic managers into specific objectives and activities.
Shorter time horizon Coordination of resources
First Line managers Supervise work of non-managerial
employees
Shift manager, district manager, department manager
Managerial skills Conceptual skills Human skills Technical skills
Conceptual skills Top managers require best conceptual skills Primary responsibility about planning and
organizing Formal education and training help to develop
managerial skills Steve job choose as CEO of apple because of his
ability to identify new opportunity
Human skills
Ability to understand, alter, lead and control behavior of others
Ability to motivate , communicate and coordinate with people
Learned through training as well as with experience
Technical Skills Job specific skills required to perform particular type
of work e.g manager of restaurant may be need cooking skills Accounting and book keeping skills to keep record
of recipts and cost Aesthetic skill to keep the restaurant looking
attractive for customer
Management Level and SkillsManagement Level and Skills
CompetitiveAdvantage
CostCompetitiveness
SpeedQuality
Innovation
Managing For Competitive Advantage
Managing For Competitive Advantage Cost competitiveness
costs are kept low enough so that you can realize profits and price your products at levels that are attractive to consumers
key is efficiency - accomplishing goals by using resources wisely and minimizing waste
Quality excellence of a product, including its attractiveness, lack of defects,
reliability, and long-term durability importance of quality has increased dramatically must identify specific elements of quality to correct problems, target
needs, and deliver world-class value
Managing For Competitive Advantage Speed
often separates winners from losers in world competition speed became a vital requirement in the 1990s
requirement has increased Innovation
the introduction of new goods and services important to adapt to changes in consumer demands and
to new sources of competition Best managers and companies delivering all four