Module 1 pom
- 1. Principles of Management 4th Year Semester - I
- 2. Principles Of Management Module No. 1
- 3. Module No. 1 – Historical development • Define Management • Science or Art • Management and Administration • Development of Management thoughts • Contribution of Taylor and Fayol • Functions of Management • Types of Business Organization • Business Ethics and Social Responsibility • Shift to Ethics and Tools of Ethics
- 4. Definition of Management • Management can be defined as a process of “ getting things done through the efforts of others”. • “Getting work done with least expenditure of time, money and efforts”
- 5. Orientation of Defining Management 1. Production Oriented 2. Decision Oriented 3. People Oriented 4. Function Oriented
- 6. Production Oriented Definition Taylor Defined “ Management is the art of knowing what you want to do and then seeing that it is done in the best and cheapest way”
- 7. Decision Oriented Definition “Management is simply the process of decision making and control over the action of human beings for the expressed purpose of attaining pre-determined goals.”
- 8. People Oriented Definition “Management is the accomplishment of results through the efforts of other people.”
- 9. Function Oriented Definition “Management is a process involving planning, organising, staffing, directing, and controlling human efforts to achieve stated objectives in an organisation.”
- 11. Approaches 1. Administration is above Management 2. Administration is a part of Management 3. Management and Administration is Same
- 12. Administration is Above Management TOP Administration (Policy Formulation) Organizational Level Management Lower (Policy Execution) Functions in Organization
- 13. Administration is Above Management SR Basis of Difference Administration Management No 1 Level in Organisation Top level Middle and Lower 2 Major Focus Policy Formulation Policy Execution 3 Nature of Functions Determinative Executive 4 Scope of Functions Broad and Narrow and Conceptual Operational 5 Factors affecting Mostly external Mostly Internal Decision 6 Qualities required Administrative Technical
- 14. Administration is a Part of management According to Brech Administration becomes a subordinate function to overall management functions. Administration is concerned with day-to-day function and is a part of management.
- 15. Management and Administration are same Most Popular and Practical approach Both involve the same functions, principles and objectives.
- 16. Management and Administration are same Board of Directors Presidents General Manager Work Manager Foreman Management Functions
- 17. Management A Science or Art
- 18. Management as a Science 1. Methods of Inquiry are systematic and empirical 2. Information can be ordered and analyzed 3. Results are cumulative and communicable.
- 19. Management as an Art 1. How a particular work can be accomplished. 2. Skill of applying principles 3. Analyse situation and make decisions
- 21. Evolution of Management 1. Early Classical Approaches 2. Neo-Classical Approaches 3. Modern Approaches
- 22. Early Classical Approaches A. Scientific Management – • Contributed by Frederick Taylor(1856-1915) • It has developed into a movement and dominated the industrial management
- 23. Early Classical Approaches A. Scientific Management – Contribution • Time and Motion Study • Differential Payment • Drastic Reorganization of Supervision • Scientific Recruitment and Training • Intimate Friendly Cooperation between Management and Workers.
- 24. Early Classical Approaches B. Administrative Management • Henri Fayol (1841-1925) considered as the Father of Administrative Management
- 25. Early Classical Approaches B. Administrative Management 1. Division of work 2. Authority and Responsibility 3. Discipline 4. Unity of Command 5. Unity of Direction 6. Subordination of Individual Interest to General Interest.
- 26. Early Classical Approaches B. Administrative Management 7. Remuneration 8. Centralisation 9. Scalar Chain 10. Order 11. Equity 12. Stability of Tenure of Personnel
- 27. Early Classical Approaches B. Administrative Management 13. Initiative 14. Espirit De Corps
- 28. Early Classical Approaches C. Bureaucracy • Leader Oriented • Tradition Oriented • Bureaucratic
- 29. Early Classical Approaches C. Bureaucracy In Bureaucratic management, Delegation of management responsibility is based on the person‟s ability to hold the position.
- 30. Neo-Classical Approaches A. The Human Relations Movement Experiments of HR are divided into 4 Parts 1. illumination Experiment 2. Relay Assembly Test Room 3. Interviewing Programme
- 31. Neo-Classical Approaches A. The Human Relations Movement 4. Bank Wiring Test Room - Rate busters - Chisellers - Squealers
- 32. Neo-Classical Approaches B. Behavioral Approach Recognizes the Practical and Situational constraint Self direction and control instead of imposed control. Study leadership
- 33. Modern Approaches A. Quantitative Approach B. Systems Approach C. Contingency Approach
- 34. Quantitative Approach • Focus is on Decision making • It facilitates disciplined thinking • Tools and Techniques to be used.
- 35. System Approach 1. A system is a set of Interdependent parts 2. Central to the systems approach is the concept of „holism‟ 3. A system can be either open or closed 4. Every System has a boundary
- 36. System Approach ENVIRONMENT Input of Output of Information Transformation of Energy Products (Materials, en (Ideas, services, ergy, Imports export) ENVIRONMENT ORGANISATION AS AN OPEN SYSTEM
- 37. Contingency Approach • Management principles have no general and universal applicability under all conditions. • Organisation need to be flexible and dynamic
- 39. Functions of Management 1. Planning 2. Organising 3. Staffing 4. Directing 5. Controlling
- 40. Types of Business Organisation • Sole Proprietorship • Partnership • HUF • Co-Operative societies • Joint Stock Company
- 41. Sole Proprietorship • When an individual promotes, owns, finance, manages and controls a business, that type of business is known as sole traders or individual Proprietorship
- 42. Joint Hindu Family A form of business in which all members of a Hindu undivided family do business jointly under the control of the head of the family who is known as the „karta‟. Other partners of HUF are called Co – Parceners.
- 43. Partnership • A partnership is an association of two or more individuals who agrees to carry on a business together for the purpose of sharing profits.
- 44. Co-Operatives • A society which has its objects the promotion of the economic interests of its members in accordance with co-operative principles. • The principle are service and not profit, co-operation and not competition.
- 45. Joint Stock Company A Joint stock company is an artificial legal person having an independent legal entity and joint capital divided into transferable shares of a fixed value.
- 46. Business Ethics & Social Responsibility
- 47. Contents • Social Responsibility • Origin and Growth of the Concepts • Social Audit • Business Ethics
- 48. Social Responsibility • It Refers two types of business obligations A. The Socio-Economic Obligation B. The Socio-Human Obligation
- 49. Origin and Growth of the Concept A. Idea of a welfare State B. The changing image of business C. Changing attitude of Businessmen
- 50. Different views on Social Responsibility 1. Communist View 2. Capitalist View 3. Pragmatic View 4. Trusteeship View
- 51. Social Audit • A social audit is a systematic study and evaluation of the organization's social performance as distinguished from its economic performance.
- 52. Business Ethics • Business Ethics is the application of moral principles to business problems.
- 53. 4 Factors affecting Ethical decisions • Government Legislation • Business codes • Pressure Groups • Personal values of the Manager
- 54. Corporate Governance • It is used to denote the extent to which companies run in an open and honest manner in the best interest of all stake- holders.
- 55. THANK YOU!!!! 55