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Semester 1: CORE – II: PRINCIPLES OF MANAGEMENT
Introduction to Management: Meaning, Definitions, Nature and Scope, Levels of Management, Importance, Management Vs. Administration, Management: Science or Art, Evolution of Management Thoughts, Functions of Management, Trends and Challenges of Management, Managers – Qualification, Duties & Responsibilities
Introduction to Management
Meaning of Management
Management refers to the process of planning, organizing, leading, and controlling resources to achieve specific goals.
Definitions of Management
Management has been defined in various ways by different experts; commonly understood as the coordination of tasks and efforts to achieve organizational objectives.
Nature of Management
Management is a multifaceted process which is both dynamic and continuous. It is goal-oriented and involves human and material resources.
Scope of Management
The scope covers various activities such as strategic management, operations management, project management, human resource management, etc.
Levels of Management
There are typically three levels of management: top-level management, middle-level management, and lower-level management. Each level has specific responsibilities.
Importance of Management
Effective management ensures the achievement of organizational goals, optimizes resource use, and improves efficiency and productivity.
Management vs Administration
Management focuses on execution, organizing, and directing resources while administration is primarily concerned with policy formulation and decision making.
Management: Science or Art
Management is considered both a science and an art. As a science, it uses systematic knowledge and principles. As an art, it applies these principles creatively.
Evolution of Management Thoughts
Management theories have evolved over time from classical approaches to human relations and modern management theories.
Functions of Management
There are several key functions of management including planning, organizing, leading, and controlling.
Trends and Challenges of Management
Trends include globalization, technological advancements, and increased focus on sustainability. Challenges include managing diversity and change.
Managers: Qualification, Duties & Responsibilities
Qualifications often include a specific level of education and experience. Duties cover planning, organizing, leading teams, and managing performance.
Planning: Meaning, Definitions, Nature, Scope and Functions, Importance and Elements of Planning, Types, Planning Process, Tools and Techniques of Planning, Management by Objective (MBO), Decision Making: Meaning, Characteristics, Types, Steps in Decision Making, Forecasting
Planning and Decision Making in Management
Meaning of Planning
Planning refers to the process of setting objectives and determining the best course of action to achieve them. It involves forecasting future conditions, identifying goals, and outlining the steps necessary to reach those goals.
Definitions of Planning
1. Planning is the process of setting goals and determining how to achieve them. 2. It is a decision-making process that outlines actions to be taken for achieving specific objectives.
Nature of Planning
Planning is a forward-looking function that is continuous and dynamic. It is flexible and allows for adaptation to changes. It is a deliberate process involving decision-making based on understanding the environment.
Scope of Planning
The scope of planning encompasses all functional areas of an organization, including finance, marketing, production, human resources, and operations. It influences long-term strategic plans as well as short-term operational plans.
Functions of Planning
Planning serves several functions, including setting objectives, formulating strategies, allocating resources, and ensuring coordination among various departments. It provides direction to efforts and helps minimize uncertainties.
Importance of Planning
Planning is essential for effective management as it helps in anticipating future needs, enables efficient resource allocation, reduces risks, guides decision-making, and promotes a proactive approach.
Elements of Planning
Key elements of planning include objectives, policies, procedures, rules, budgets, and strategies. Each element plays a crucial role in achieving the overall goals of the organization.
Types of Planning
1. Strategic Planning - long-term planning focused on overall organizational goals. 2. Tactical Planning - short-term planning that focuses on specific objectives. 3. Operational Planning - day-to-day planning for operational activities.
Planning Process
The planning process involves several steps: identifying goals, gathering information, analyzing the environment, developing plans, implementing plans, and evaluating results.
Tools and Techniques of Planning
Common tools and techniques include SWOT analysis, PEST analysis, forecasting methods, strategic planning frameworks, and decision-making matrices.
Management by Objective (MBO)
MBO is a management technique where managers and employees collaborate to define objectives for performance. The goals are specific, measurable, and time-bound.
Meaning of Decision Making
Decision making is the process of choosing the best alternative from a set of options to achieve specific objectives.
Characteristics of Decision Making
Decision making involves uncertainty, requires data analysis, includes consideration of various alternatives, and is often influenced by individual judgment and biases.
Types of Decision Making
1. Routine Decisions - everyday decisions that require minimal thought. 2. Strategic Decisions - long-term decisions that impact the direction of the organization. 3. Tactical Decisions - focused on the implementation of strategies.
Steps in Decision Making
1. Identify the problem. 2. Gather relevant information. 3. Identify alternatives. 4. Weigh evidence. 5. Choose among alternatives. 6. Take action. 7. Review the decision.
Forecasting
Forecasting is the process of estimating future trends based on historical data, trends, and patterns. It aids in planning by providing an informed basis for decision making.
Organizing: Meaning, Definitions, Nature and Scope, Characteristics, Importance, Types, Formal and Informal Organization, Organization Chart, Organization Structure: Meaning and Types, Departmentalization, Authority and Responsibility, Centralization and Decentralization, Span of Management
Organizing
Organizing refers to the process of arranging resources and tasks in a systematic manner to achieve organizational goals. It establishes a framework within which the activities of individuals and teams can align effectively.
Organizing can be defined as the act of coordinating resources and activities in order to implement a plan. It involves defining roles, responsibilities, and the structures necessary to achieve objectives.
Organizing is a fundamental function of management that encompasses planning, staffing, and directing. Its scope includes the arrangement of both human and physical resources across various levels of management.
Complex Process: It involves various interrelated tasks.
Goal-Oriented: Focused on achieving specific objectives.
Dynamic: Adapts to changes in the organizational environment.
Hierarchical: Establishes a hierarchy to ensure control and coordination.
Efficiency: Improves the use of resources.
Clarity: Provides clear guidelines and roles.
Coordination: Facilitates teamwork and communication.
Adaptability: Prepares the organization for change.
A structured organization where roles and responsibilities are clearly defined and documented.
A network of personal and social relationships that exist within a formal organizational structure.
A visual representation of the organizational structure, showing the relationships and relative ranks of positions within the organization.
Refers to the way in which tasks and responsibilities are allocated and coordinated within an organization.
Functional Structure: Organizes teams based on function or departmental tasks.
Divisional Structure: Groups activities based on products, services, or geographical locations.
Matrix Structure: Combines functional and divisional structures to create cross-functional teams.
The process of dividing an organization into different units or departments based on specific criteria like function, product, or geography.
The power granted to individuals or teams to make decisions and take actions within an organization.
The obligation to complete tasks or duties assigned to individuals or teams.
A structure where decision-making is concentrated at the top levels of management.
A structure that distributes decision-making authority to lower levels of management.
Refers to the number of subordinates that report directly to a manager, affecting the manager's ability to supervise effectively.
Staffing: Introduction, Concept of Staffing, Staffing Process, Recruitment, Sources of Recruitment, Modern Recruitment Methods, Selection Procedure, Test, Interview, Training: Need, Types, Promotion, Management Games, Performance Appraisal: Meaning and Methods, 360 degree Performance Appraisal, Work from Home - Managing Work from Home (WFH)
Staffing
Introduction
Staffing is a management function that involves recruiting, hiring, training, and developing employees to ensure that an organization has the right people in the right positions.
Concept of Staffing
The concept of staffing revolves around identifying workforce needs, recruiting suitable candidates, and continuously developing employee skills to meet organizational goals.
Staffing Process
The staffing process includes workforce planning, recruitment, selection, onboarding, training, and performance evaluation.
Recruitment
Recruitment is the process of attracting potential candidates to fill job vacancies. It can be done internally or externally.
Sources of Recruitment
Common sources of recruitment include job postings, employee referrals, recruitment agencies, and online job portals.
Modern Recruitment Methods
Modern recruitment methods utilize technology, including social media, job boards, and applicant tracking systems to streamline the hiring process.
Selection Procedure
The selection procedure includes screening applications, conducting interviews, assessing skills through tests, and making job offers.
Test
Tests may include skill assessments, personality tests, and cognitive ability tests to evaluate candidates' suitability for the job.
Interview
Interviews can be structured, semi-structured, or unstructured, aiming to assess candidates' qualifications, experience, and cultural fit.
Training: Need
Training is essential for employee development and improving productivity, ensuring that employees are equipped with the necessary skills.
Types of Training
Types of training include onboarding, technical training, soft skills training, and leadership development.
Promotion
Promotion refers to the advancement of employees to higher positions within the organization, often based on performance and potential.
Management Games
Management games are tools used in training to simulate real-life scenarios, allowing employees to practice decision-making and leadership skills.
Performance Appraisal: Meaning and Methods
Performance appraisal is the systematic evaluation of employee performance. Common methods include self-appraisals, peer reviews, and managerial assessments.
360 Degree Performance Appraisal
This method involves collecting feedback from all around the employee, including peers, subordinates, and supervisors, providing a comprehensive view of performance.
Work from Home: Managing Work from Home (WFH)
Managing WFH involves establishing clear communication, setting productivity expectations, and providing the necessary tools and support for remote work.
Directing: Motivation – Meaning, Theories, Communication Types, Barriers to Communications, Measures to Overcome Barriers, Leadership: Nature, Types and Theories, Styles of Leadership, Qualities of a Good Leader, Successful Women Leaders, Challenges faced by women in workforce, Supervision, Co-ordination and Control: Meaning, Techniques of Co-ordination, Control: Characteristics, Importance, Stages in the Control Process, Requisites of Effective Control, Controlling Techniques, Management by Exception (MBE)
Directing: Motivation and Leadership Concepts
Motivation: Meaning and Theories
Motivation refers to the processes that initiate, guide, and maintain goal-oriented behaviors. Theories of motivation include Maslow's Hierarchy of Needs, which outlines a progression of human needs from physiological to self-actualization; Herzberg's Two-Factor Theory, distinguishing between hygiene factors and motivators; and McGregor's Theory X and Theory Y, which contrast management perceptions of employee motivation.
Types of Communication in Directing
Communication in directing can be categorized into verbal, non-verbal, and written communication. Effective communication is vital for ensuring that directives are understood and followed. In addition, feedback mechanisms play a crucial role in enhancing understanding and performance.
Barriers to Communication
Barriers to communication include physical barriers, language differences, psychological barriers such as stereotypes, and cultural differences. These barriers can lead to misunderstandings or misinterpretations of messages.
Measures to Overcome Barriers
Strategies to overcome communication barriers involve improving clarity in messaging, fostering an open communication environment, encouraging feedback, utilizing multiple communication channels, and providing cultural training to enhance understanding.
Leadership: Nature and Types
Leadership is the ability to influence and guide individuals or groups. Types of leadership include autocratic, democratic, situational, transformational, and transactional leadership, each varying in approach to decision-making and team involvement.
Leadership Theories
Key leadership theories include Trait Theory, emphasizing inherent characteristics; Behavioral Theory, focusing on behaviors effective leaders exhibit; Contingency Theory, suggesting that the effectiveness of a leadership style depends on situational factors; and Servant Leadership, which prioritizes serving others.
Styles of Leadership
Leadership styles refer to various approaches leaders use, such as authoritative, participative, and delegative. Each style has its advantages and applicability depending on team dynamics and goals.
Qualities of a Good Leader
Essential qualities of a good leader include integrity, empathy, resilience, adaptability, effective communication, and the ability to inspire and motivate others.
Successful Women Leaders
Successful women leaders, such as Indra Nooyi and Angela Merkel, have made significant contributions across various fields. Their leadership styles often reflect collaboration, emotional intelligence, and breaking barriers in male-dominated sectors.
Challenges Faced by Women in the Workforce
Women often face challenges such as gender bias, work-life balance issues, underrepresentation in leadership roles, and workplace discrimination. Addressing these challenges requires organizational policy changes and cultural shifts.
Supervision, Coordination and Control: Meaning
Supervision involves overseeing the performance and development of individuals or teams to ensure that tasks are completed effectively. Coordination refers to the systematic alignment of organizational efforts to achieve objectives, while control ensures that organizational standards and procedures are met.
Techniques of Coordination
Techniques of coordination include regular meetings, clear communication channels, collaborative tools, and defined roles and responsibilities to ensure efficient teamwork.
Control: Characteristics and Importance
Control is essential for maintaining desired performance levels. Characteristics include feedback, continuous monitoring, and the ability to implement corrective measures. The importance of control lies in ensuring resource optimization and goal achievement.
Stages in the Control Process
The control process involves setting performance standards, measuring actual performance, evaluating results, and taking corrective action if necessary.
Requisites of Effective Control
Effective control requires clear objectives, timely information, flexibility in approach, and leadership support to foster a culture of accountability.
Controlling Techniques
Controlling techniques include budgetary control, performance reviews, data analysis, and audits to monitor organizational performance.
Management by Exception (MBE)
Management by Exception (MBE) is an approach where managers focus on significant deviations from expected performance levels. This method allows for efficient resource use and facilitates timely decision-making.
