Lecture 2
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This document discusses the key concepts of management. It defines management as planning, organizing, leading, and controlling resources to achieve organizational goals efficiently. It provides details on each of the main functions: - Planning involves setting goals and determining how to achieve them. It is a systematic process of defining strategies and plans. - Organizing establishes the organizational structure by determining roles and responsibilities. It involves grouping and assigning tasks. - Leading includes motivating employees, providing direction, communicating, and resolving conflicts. The role of leadership is to energize employees to attain goals. - Controlling measures performance against standards, identifies deviations, and takes corrective actions. It ensures goals are achieved according to plans.
Lecture 2
- 1. Lecture 2
- 2. Individuals who achieve goals through other people. To get work done through others by engaging five functions of management. The planning, organizing, leading, and controlling of human and other resources to achieve organizational goals effectively and efficiently. The people responsible for supervising the use of an organization’s resources to meet its goals. Resources include people, skills, knowledge, machinery, computers and I.T., and financial capital
- 5. Set goals + determining ways and means to achieve the goals . Goals characteristic attributes which are : Attainable achievable measureable A process that includes defining goals, establishing strategy, and developing plans to coordinate activities.
- 6. When the products meets or exceeds the customer requirements than it is a quality product. The process of identifying and selecting appropriate goals and courses of action Examples: Strategic planning, financial planning, human resources planning. Steps in planning : Deciding which goals to pursue Deciding what courses of action to adopt Deciding how to allocate resources
- 7. Deciding in advance : What to do How to do When to do Who is going to do it It is the basic function of management. It deals with chalking out a future course of action & deciding in advance the most appropriate course of actions for achievement of pre-determined goals. It is an exercise in problem solving & decision making. Planning is determination of courses of action to achieve desired goals. Thus, planning is a systematic thinking about ways & means for accomplishment of pre-determined goals. Planning is necessary to ensure proper utilization of human & non-human resources. It is all pervasive, it is an intellectual activity and it also helps in avoiding confusion, uncertainties
- 8. Determining what tasks are to be done, who is to do them, how the tasks are to be grouped, who reports to whom, and where decisions are to be made. The process of establishing a structure of working relationships in a way that allows organizational members to work together to achieve organizational goals. Provide the tools. Recruitment: Attract the potentials for job available. Choose best potential candidates out of the temporary pool.
- 9. It is the process of bringing together physical, financial and human resources and developing productive relationship amongst them for achievement of organizational goals. According to Henry Fayol, “To organize a business is to provide it with everything useful or its functioning i.e. raw material, tools, capital and personnel’s”. To organize a business involves determining & providing human and non- human resources to the organizational structure.
- 10. Establishing the framework of working: How many units or sub-units or departments are needed. How many posts or designations are needed in each department. How to distribute authority and responsibility among employees Once these decisions are taken, organizational structure gets set up. Organizing as a process involves: Identification of activities. Classification of grouping of activities. Assignment of duties. Delegation of authority and creation of responsibility. Coordinating authority and responsibility relationships
- 11. Articulating a clear vision to follow, and energizing and enabling organizational members so they understand the part they play in attaining organizational goals. To influence other people behaviour so that they can follow your directions against their will. Giving direction or instruction to employees to get the job done. Leadership qualities are required. Motivating employees by providing monatory and non-monetory incentives. Comunicating with them at regular intervals. A function that includes motivating employees, directing others, selecting the most effective communication channels, and resolving conflicts.
- 12. It is that part of managerial function which actuates the organizational methods to work efficiently for achievement of organizational purposes. It is considered life-spark of the enterprise which sets it in motion the action of people because planning, organizing and staffing are the mere preparations for doing the work. Direction is that inert-personnel aspect of management which deals directly with influencing, guiding, supervising, motivating sub-ordinate for the achievement of organizational goals.
- 13. Supervision- implies overseeing the work of subordinates by their superiors. It is the act of watching & directing work & workers. Motivation- means inspiring, stimulating or encouraging the sub-ordinates with zeal to work. Positive, negative, monetary, non-monetary incentives may be used for this purpose. Leadership- may be defined as a process by which manager guides and influences the work of subordinates in desired direction. Communications- is the process of passing information, experience, opinion etc from one person to another. It is a bridge of understanding
- 14. Measurement of the people against the standards. Monitoring activities to ensure they are being accomplished as planned and correcting any significant deviations. Matching actual performance with the planed goal. If problem, tries to find out the reasons of deviation. Suggesting corrective measures come on the path of plan. Therefore controlling has following steps: Establishment of standard performance. Measurement of actual performance. Comparison of actual performance with the standards and finding out deviation if any. Corrective action.
- 15. It implies measurement of accomplishment against the standards and correction of deviation if any to ensure achievement of organizational goals. The purpose of controlling is to ensure that everything occurs in conformities with the standards. An efficient system of control helps to predict deviations before they actually occur. According to Theo Haimann, “Controlling is the process of checking whether or not proper progress is being made towards the objectives and goals and acting if necessary, to correct any deviation