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Management

Management. MEANING: “Management is the process of Planning, organizing, directing & controlling for achievement of Goal” CHARACTERISTICS: Management is Goal Oriented Management is Universal Management is Continuous Process Management is Group activity Management is Profession

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Management

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  1. Management MEANING: “Management is the process of Planning, organizing, directing & controlling for achievement of Goal” CHARACTERISTICS: Management is Goal Oriented Management is Universal Management is Continuous Process Management is Group activity Management is Profession Management is art & science Management is dynamic Management is decision making Prepared by Ghanshyam M.Bhuva

  2. Management IMPORTANCE Optimum Utilization of Resources Achievement of Goal Establishment of Sound Industrial Relationship Effective Leadership Raise the standard of Living Accelerate the process of development It is universal process LIMITATION It is not possible to formulate definite principle Dynamism reduce the effectiveness of planning and forecasting Uniform principle cannot be applicable for all type of organization Prepared by Ghanshyam M.Bhuva

  3. Management FUNCTION Planning Organization Staffing Directing Motivation Coordinating Controlling Reporting Budget Prepared by Ghanshyam M.Bhuva

  4. Management • MANAGEMENT AS A PROCESS • “Management included the general principle that the reason its called management as a process” • Every function work Sequencly like planning, organization, staffing, directing and controlling • This function are interdepended on each other • Dr. Terry says that the management process consist of four function Planning, Organization, Actuating & Controlling. • They distinguish between Manager and Non manager • Universal Process- Use by Government, Army, Education field, Business. • Management Applicable in all Level Prepared by GhanshyamM.Bhuva

  5. Management • MANAGEMENT IS SCIENCE OR AN ART • Management is Science: “science is specialized & systematic knowledge based on principle” • Science teaches Principles • To think: Determine the Goal, Planning, method, Strategies. • Characteristics: • Systematic body of knowledge • Management is social science • Management is an inexact science Prepared by Ghanshyam M.Bhuva

  6. Management • Management is an Art: “Art is application of knowledge & skill to achieve the results: • The function of Art like Achievement of Goal, Implementation of Planning • Characteristics • Use of knowledge • Creative Art • Personalization • Management is an Art & Science “Science formulate the principle which is implement by Art that called management is an Art &Science” • Science teaches the Principles, Art teaches how to implement them. • Good Sentence: • “Knowledge is power is not completely true. In fact, applied Knowledge is Power Prepared by Ghanshyam M.Bhuva

  7. Management MANAGEMENT AS A PROFESSION “Profession is an activity where specialized knowledge is used after getting the training and experience for the same” Example: Lawyer, C.A, Doctore. Characteristics Specialized skill Training Ethical standard Association of member Prepared by Ghanshyam M.Bhuva

  8. Management OBJECTIVES Economical Objectives To earn enough profit Production of goods and services Creation of market Innovation Growth Social Objective Production of goods & service to satisfy the requirement of society Production of goods of good quality Supply of goods at a reasonable price Provide employment Not to create artificial scarcity of goods Human Objective: To give fair wages to workers To provide good working condition To provide for self development and education Fair dealing with workers Giving them a share in Management Prepared by Ghanshyam M.Bhuva

  9. Management FREDERICK TAYLOR’S PRINCIPLES OF MANAGEMENT Fraderick Taylor’s is the father of scientific management Two classes are engaged in business like Taylor’s says that “knowing exactly what you want your men to do, then see to it that they do it in the best and the cheapest way” Taylor’s gives suggestion: To assign work to every workers according to his capacity To give incentive up to 30% to 100% Prepared by Ghanshyam M.Bhuva

  10. Management Scientific Principle of Taylor’s Separation of planning & doing Functional foremanship Job analysis Standardization Scientific selection & training Financial incentives Mental revolution(mental harmony) Prepared by Ghanshyam M.Bhuva

  11. Management • HENRY FAYOL’S PRINCIPLE OF MANAGEMENT • Henry fayol’s is the father of Modern Management • Taylor suggested new standard of work like piece- rate system. This system is well organized but Fayol Presented the same more effectively. • Henry Faloy concentrated on the Top and Bottom level management also. • Theory of management • Technical activity : Production • Commercial activity : Sales, Purchase • Financial activity : Fund management • Security activity : Protection of Property • Accounting Activity : recording of Transaction • Managerial Activity : Management Function Prepared by Ghanshyam M.Bhuva

  12. Management Henry Fayol’s Principles Division of work Authority and responsibility Discipline Unity of command Unity of direction Subordination of individual interest to general interest Remuneration Centralization Scalar chain Order Equity Stability Initiative Team spirit Prepared by Ghanshyam M.Bhuva

  13. Management THREE LEVEL OF MANAGEMENT Top level Middle level Bottom level Prepared by Ghanshyam M.Bhuva

  14. Management Top Level Function Trusteeship Determination of objectives Selecting the executives Approving budget Distribution of earning To secure long range stability Bottom Level Implement order of the CEO Prepared Plan Prepared Budget Formulate police Increase efficiency Help top level management in policy decision Prepared by Ghanshyam M.Bhuva

  15. Management BOTTOM LEVEL Get instructions & order Plan for the daily routine Maintain proper human resources Reporting to Middle level DIFFERENCES Prepared by Ghanshyam M.Bhuva

  16. Planning MEANING: “According to Henry Fayol Planning refers to a Preview of future activity” “Planning is the set of premises for achievement of predetermine goal” CHARACTERISTICS: Planning is goal oriented Planning is primary function Planning is all pervasive Planning is continuous process Planning is flexible Planning concern with future Planning is mental process Planning is choice of alternatives Prepared by Ghanshyam M.Bhuva

  17. Planning IMPORTANCE Planning provide direction Planning provide framework Achievement of goal Reduce the wastage Reduce uncertainty Effective control Coordination LIMITATION Planning is Time consuming Planning is Costly Planning is unnecessary Planning is an attack on the freedom of the employee Incomplete information: Ex:-Credit card Uncertainty of external factors Prepared by Ghanshyam M.Bhuva

  18. Planning PROCESS Prepared by Ghanshyam M.Bhuva

  19. Planning TYPES OR ELEMENTS OR COMPONENTSOF PLANS Objectives: Mission, Vision Policies : Strategies are decided for achievement of goal is called Policies. Strategies: Set of Action or tactic are called Strategies Rules :Rules establish order for getting discipline, Coordination, how to work for fulfilling a Program. Programs: Policies and Plan are called Program(They guides to action or Sequence of activities) Budgets TYPES OF PLANNING On the basis of objectives Planning of the Existing business Reform Oriented planning Developmental planning On the basis of time Long range and Short Range Other types of Planning Prepared by Ghanshyam M.Bhuva

  20. Planning FACTORS AFFECTING SUCCESS OF PLANNING OR PRINCIPLE OF EFFECTIVE PLANNING Clarity of objectives Clarity of alternatives Accurate forecasts and data Cooperation of staff Resources Practical and realistic Flexible Adjustment to environment Prepared by Ghanshyam M.Bhuva

  21. Planning BARRIERS TO EFFECTIVE PLANNING Prepared by Ghanshyam M.Bhuva

  22. Planning OVERCOMING BARRIERS TO EFFECTIVE PLANNING Conduct the management Programmes Effective system of Planning Employees involved in planning Proper Communication system should be developed Technical Training Prepared by Ghanshyam M.Bhuva

  23. Planning Premises Meaning: “Premises are assumptions providing a background against which estimated events affecting the planning will take place” Types of Premises: Internal Premises and External Premises Controllable and Non Controllable Premises Tangible and Intangible Premises Prepared by Ghanshyam M.Bhuva

  24. Planning Premises Internal Planning Premises Sales forecast Capital Investments Basic Policies Supply of Materials and Parts Development of Unit Capacity of Employees External Premises Relating to general business environment Political stability Government control Government fiscal policy Population trends Employment, productivity and National Income Prepared by Ghanshyam M.Bhuva

  25. Planning Premises Price level Technological changes International Political system Trade cycles 2. Relating to product Market Industry Demand Individual Demand 3. Relating to factor Market Business Location Labour availability Sources of materials and parts Availability of capital Prepared by Ghanshyam M.Bhuva

  26. Forecasting Methods of Sales forecasting Jury-of-Executive Opinion method Survey of buyers intentions Trend projection method Correlation analysis method Economical indicators method Controlled experiments Econometric model method Procedure for Determining Premises/Elements of Forecasting Developing the Groundwork Estimating future demand Comparing actual with Estimated results Modifying the Forecast Process Prepared by GhanshyamM.Bhuva

  27. Planning Premises Importance of Premises For Effective Planning For Reducing risk and Uncertainties Change in Planning Co-ordination Prepared by Ghanshyam M.Bhuva

  28. Paper Q. A. For the following questions write the correct option selecting from the given option (1 Mark each) • The first function of management is…………………. a. Planningb. organizationc. Staffingd. Controlling 2. Management structure has………………………..Levels a. Oneb. twoc. threed. four 3. In large units what is used as effective medium of planning? a. Reporting b. Budget c. Planning d. Directing 4. The pre-thinking for future in present is called……………. a. Planning b. Management c. Directing d. Control 5. The statement of future income and expenditure is called…………… a. Planning b. Organization c. Budget d. Program 6. The arrangement for carrying out Programs is…………. a. Objective b. Policy c. Method d. Rules 7. Who was the promoter of the concept of scientific management? a. Mr. George R. Terry c. Mr. F.W.Taylor b. Mr. Henry Fayol d. Mr. Luther Gulick Prepared by Ghanshyam M.Bhuva

  29. Paper 8. The winner of title “Father of modern management” is ………………….. a. Frederick Taylor b. George Terry c. Henry Fayold. Harold Kuntzand 9. The easy method to put knowledge into practice is………………. a. Science b. Art c. Profession d. Employment 10. The art of getting work done through others staying with them is called……………. a. Planningb. Management c. Administration d. Controlling Q.B. Answer the following questions- Attain any three (5 Marks Each) • What is the management? And explain the functions of management. • Give the Meaning of Planning and Explain the step or Process of Planning. • “Management is a Science or an Art” Explain Statement. • Describe the Henry Fayol Principle of management. Prepared by Ghanshyam M.Bhuva

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