Management

Management

Introduction to Management

Management is a universal phenomenon. It is a very popular and widely used term. All organizations – business, political, cultural or social are involved in management because it is the management which helps and directs the various efforts towards a definite purpose. 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 ...
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As a process, management refers to a series of inter-related functions. It is the process by which management creates, operates and directs purposive organization through systematic, coordinated and co-operated human efforts, according to George R. Terry, “Management is a distinct process consisting of planning, organizing, actuating and controlling, performed to determine and accomplish stated objective by the use of human beings and other resources”. As a process, management consists of three aspects:
  1. Management ...
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Like various other activities performed by human beings such as writing, playing, eating, cooking etc, management is also an activity because a manager is one who accomplishes the objectives by directing the efforts of others. According to Koontz, “Management is what a manager does”. Management as an activity includes –
  1. Informational activities - In the functioning of the business enterprise, the manager constantly has to receive and give information orally or in writing. A ...
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Management as a discipline refers to that branch of knowledge which is connected to study of principles & practices of basic administration. It specifies the certain code of conduct to be followed by the manager & also various methods for managing resources efficiently. Management as a discipline specifies the certain code of conduct for managers & indicates various methods of managing an enterprise. Management is a course of study which is now formally being taught ...
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Management as a group refers to all those persons who perform the task of managing an enterprise. When we say that management of ABC & Co. is good, we are referring to a group of people those who are managing. Thus as a group technically speaking, management will include all managers from chief executive to the first – line managers (lower-level managers). But in common practice management includes only top management i.e. Chief Executive, Chairman, ...
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Science is a systematic body of knowledge pertaining to a specific field of study that contains general facts which explain a phenomenon. It establishes cause and effect relationship between two or more variables and underlines the principles governing their relationship. These principles are developed through a scientific method of observation and verification through testing. Science is characterized by following main features:
  1. Universally acceptance principles – Scientific principles represents the basic truth about a particular field of ...
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Art implies the application of knowledge & skill to trying about desired results. An art may be defined as a personalized application of general theoretical principles for achieving best possible results. Art has the following characters –
  1. Practical Knowledge: Every art requires practical knowledge, therefore, learning of theory is not sufficient. It is very important to know practical application of theoretical principles. E.g. to become a good painter, the person may not only be ...
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Over a large few decades, factors such as growing size of a business unit, separation of ownership from management, growing competition etc have led to an increased demand for professionally qualified managers. The task of manager has been quite specialized. As a result of these developments, the management has reached a stage where everything is to be managed professionally. A profession may be defined as an occupation that requires specialized knowledge and intensive academic preparations ...
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Management is an activity concerned with guiding human and physical resources such that organizational goals can be achieved. Nature of management can be highlighted as: –
  1. Management is Goal-Oriented: The success of any management activity is assessed by its achievement of the predetermined goals or objective. Management is a purposeful activity. It is a tool which helps use of human & physical resources to fulfill the pre-determined goals. For example, the goal of an ...
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The term “Levels of Management’ refers to a line of demarcation between various managerial positions in an organization. The number of levels in management increases when the size of the business and workforce increases and vice versa. The level of management determines a chain of command, the amount of authority & status enjoyed by any managerial position. The levels of management can be classified into three broad categories:
  1. Top level / Administrative level
  2. Middle ...
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The main objectives of management are:
  1. Getting Maximum Results with Minimum Efforts - The main objective of management is to secure maximum outputs with minimum efforts & resources. Management is basically concerned with thinking & utilizing human, material & financial resources in such a manner that would result in best combination. This combination results in a reduction of various costs.
  2. Increasing the Efficiency of factors of Production - Through proper utilization of various ...
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  1. It helps in Achieving Group Goals - It arranges the factors of production, assembles and organizes the resources, integrates the resources in an effective manner to achieve goals. It directs group efforts towards the achievement of pre-determined goals. By defining the objective of the organization clearly, there would be no wastage of time, money and effort. Management converts disorganized resources of men, machines, money etc. into a useful enterprise. These resources are coordinated, directed ...
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Administration
According to Theo Haimann, “Administration means an overall determination of policies, setting of major objectives, the identification of general purposes and laying down of broad programmes and projects”. It refers to the activities of a higher level. It lays down basic principles of the enterprise. According to Newman, “Administration means guidance, leadership & control of the efforts of the groups towards some common goals”. Whereas, management involves conceiving, initiating and bringing together the various elements; coordinating, ...
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management functions
Management has been described as a social process involving responsibility for economical and effective planning & regulation of the operation of an enterprise in the fulfillment of given purposes. It is a dynamic process consisting of various elements and activities. These activities are different from operative functions like marketing, finance, purchase etc. Rather these activities are common to each and every manager irrespective of his level or status. Different experts have classified functions of management ...
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Co-ordination is the unification, integration, synchronization of the efforts of group members so as to provide unity of action in the pursuit of common goals. It is a hidden force which binds all the other functions of management. According to Mooney and Reelay, “Co-ordination is an orderly arrangement of group efforts to provide unity of action in the pursuit of common goals”. According to Charles Worth, “Co-ordination is the integration of several parts into an orderly hole ...
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Co-ordination is an orderly arrangement of efforts to provide unity of action in the fulfillment of common objective whereas co-operation denotes collective efforts of persons working in an enterprise voluntarily for the achievement of a particular purpose. It is the willingness of individuals to help each other. Co-ordination is an effort to integrate effectively energies of different groups whereas co-operation is sort to achieve general objectives of business. Though these two are synonymous but they ...
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A principle refers to a fundamental truth. It establishes cause and effect relationship between two or more variables under given situation. They serve as a guide to thought & actions. Therefore, management principles are the statements of fundamental truth based on logic which provides guidelines for managerial decision making and actions. These principles are derived: –
  1. On the basis of observation and analysis i.e. practical experience of managers.
  2. By conducting experimental studies.
There ...
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  1. Principles of Management are Universal
    1. Management principles are applicable to all kinds of organizations - business & non business.
    2. They are applicable to all levels of management.
    3. Every organization must make best possible use by the use of management principles.
    4. Therefore, they are universal or all pervasive.
  2. Principles of Management are Flexible
    1. Management principles are dynamic guidelines and not static rules.
    2. There ...
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Following are the main importance of the Principles of Management.
  1. Improves Understanding.
  2. Direction for Training of Managers.
  3. Role of Management.
  4. Guide to Research in Management.
  1. Improves Understanding - From the knowledge of principles managers get indication on how to manage an organization. The principles enable managers to decide what should be done to accomplish given tasks and to handle situations which may arise in management. These principles make managers more efficient.
  2. ...
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Fredrick Winslow Taylor ( March 20, 1856 – March 21, 1915) commonly known as ’Father of Scientific Management’ started his career as an operator and rose to the position of chief engineer. He conducted various experiments during this process which forms the basis of scientific management. It implies application of scientific principles for studying & identifying management problems. According to Taylor, “Scientific Management is an art of knowing exactly what you want your men to do and seeing ...
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  1. Development of Science for each part of men’s job (replacement of rule of thumb)
    1. This principle suggests that work assigned to any employee should be observed, analyzed with respect to each and every element and part and time involved in it.
    2. This means replacement of odd rule of thumb by the use of method of enquiry, investigation, data collection, analysis and framing of rules.
    3. Under scientific management, ...
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Time Study
  1. It is a technique which enables the manager to ascertain standard time taken for performing a specified job.
  2. Every job or every part of it is studied in detail.
  3. This technique is based on the study of an average worker having reasonable skill and ability.
  4. Average worker is selected and assigned the job and then with the help of a stop watch, time is ascertained for ...
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Although it is accepted that the scientific management enables the management to put resources to its best possible use and manner, yet it has not been spared of severe criticism. Workers Viewpoint
  1. Unemployment - Workers feel that management reduces employment opportunities from them through replacement of men by machines and by increasing human productivity less workers are needed to do work leading to chucking out from their jobs.
  2. Exploitation - Workers feel they ...
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Both the persons have contributed to development of science of management. The contribution of these two pioneers in the field of science of management has been reviewed as “The work of Taylor & Fayol was, of course, especially complementary. They both realized that problem of personnel & its management at all levels is the key to individual success. Both applied scientific method to this problem that Taylor worked primarily from operative level, from bottom to ...
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