Concept of Management Assignment

Concept of Management Assignment Words: 4397

By F. W. Taylor Features (or characteristics) of management 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-Relented: The success of any management activity is accessed 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 enterprise Is maximum consumer satisfaction by producing quality goods and at reasonable prices. This can be achieved by employing efficient persons and making better use of scarce resources. ) Management integrates Human, Physical and Financial Resources: In an organization. Human beings work with non-human resources like machines. Materials, financial assets, buildings etc. Management integrates human efforts to those resources. It brings harmony among the human, physical and financial resources. ) Management is Continuous: Management is an ongoing process. It involves continuous handling of problems and Issues. It is concerned with identifying the problem and taking appropriate steps to solve it. E. G. The target of a company is maximum production. For achieving this target various policies have to be framed UT this Is not the end. Marketing and Advertising Is also to be done. For this policies have to be again framed. Hence this is an ongoing process. Whether it is political, social, cultural or business because it helps and directs various efforts towards a definite purpose.

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Thus clubs, hospitals, political parties, colleges, hospitals, business firms all require management. When ever more than one person is engaged in working for a common goal, management is necessary. Whether it is a small business firm which may be engaged in trading or a large firm like Data Iron & Steel, management is required everywhere irrespective of size or type of activity. 5) Management is a Group Activity: Management is very much less concerned with individual’s efforts. It is more concerned with groups.

It involves the use of group effort to achieve predetermined goal of management of BBC & Co. Is good refers to a group of persons managing the enterprise. Objectives of business 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 reduction of various costs. 2)lingering the Efficiency of factors of Production – Through proper utilization of various factors of production, their efficiency can be increased to a great extent which can be obtained by reducing spoilage, wastage and breakage of all kinds, this in turn leads to saving of time, effort and money which is essential for the growth & prosperity of the enterprise. 3) Maximum Prosperity for Employer & Employees – Management ensures smooth and coordinated functioning of the enterprise.

This in turn helps in providing maximum benefits to the employee in the shape of good working condition, suitable wage system, incentive plans on the one hand and higher profits to the employer on the other hand. 4) Human betterment & Social Justice – Management serves as a tool for the fulfillment as well as betterment of the society. Through increased productivity & employment, management ensures better standards of living for the society. It provides Justice through its uniform policies.

Management concepts management-?a process – 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: Since human factor is most important among the other factors, therefore management is concerned with developing relationship among people. It is the duty of management to make interaction between people – productive and useful for obtaining organizational goals. management undertakes the Job of bringing together human physical and financial resources so as to achieve organizational purpose. Therefore, is an important function to bring harmony between various factors. Lot is a never ending taking adequate steps. It is an on-going process. Management-?an activity- 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 Kenton, “Management is what a manager does”. Management as an activity includes – Olin the functioning of business enterprise, the manager constantly has to receive and give information orally or in written. A communication link has to be maintained with subordinates as well as superiors for effective functioning of an enterprise.

Practically all types of managerial activities are based on one or the there types of decisions. Therefore, managers are continuously involved in decisions of different kinds since the decision made by one manager becomes the basis of action to be taken by other managers. (E. G. Sales Manager is deciding the media & content of advertising). management involves achieving goals through people. Therefore, managers have to interact with superiors as well as the sub-ordinates. They must maintain good relations with them. The inter-personal activities include with the sub-ordinates and taking care of the problem. E. G. Bonuses to be given to the sub-ordinates). Management-?a group- Management as a group may be looked upon in 2 different ways: All managers taken together. Only the top management The interpretation depends upon the context in which these terms are used. Broadly speaking, there are 3 types of managers – Patrimonial / Family Manager: Those who have become managers by virtue of their being owners or relatives of the owners of company. Professional Managers: Those who have been appointed on account of their specialized knowledge and degree.

Political Managers / Civil Servants: Those who manage public sector undertakings. Managers have become a part of elite group of society as they enjoy higher standard of living in the society. management-?a discipline- Management as a discipline refers to that branch of knowledge which is connected to study of principles & practices of basic administration. It specifies certain code of conduct to be followed by the manager & also various methods for managing resources efficiently. Management as a discipline specifies 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 in the institutes and universities after implementing a prescribed course or by obtaining degree or diploma in management, a person can get employment as a manager. Any branch of knowledge that fulfils following two requirements is known as discipline: There must be scholars & thinkers who communicate relevant knowledge through research and publications. The knowledge should be formally imparted by education and training programmed. Since management satisfies both these problems, therefore it qualifies to be a discipline.

Though it is comparatively a new systematic body of knowledge pertaining to a specific field of study that contains mineral facts which explains 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 scientific method of observation and verification through testing. Science is characterized by following main features: universally acceptance principles – Scientific principles represents basic truth about a particular field of enquiry.

These principles may be applied in all situations, at all time & at all places. E. G. – law of gravitation which can be applied in all countries irrespective of the time. Management also contains some fundamental principles which can be applied universally like the Principle of Unity of Command I. E. One man, one boss. This principle is applicable to all type of organization – business or non business. Experimentation & Observation – Scientific principles are derived through scientific investigation & researching I. E. They are based on logic. E. G. The principle that earth goes round the sun has been scientifically proved.

Management principles are also based on scientific enquiry & observation and not only on the opinion of Henry Payola. They have been developed through experiments & practical experiences of large no. Of managers. E. G. It is observed that fair remuneration to personal helps in creating a satisfied work force. Cause & Effect Relationship – Principles of science lay down cause and effect relationship between various variables. E. G. When metals are heated, they are expanded. The cause is heating & result is expansion. The same is true for management, therefore it also establishes cause and effect relationship. E. G. Jack of parity (balance) between authority & responsibility will lead to ineffectiveness. If you know the cause I. E. Jack of balance, the effect can be ascertained easily I. E. In effectiveness. Similarly if workers are given bonuses, fair wages they will work hard but when not treated in fair and Just manner, reduces productivity of organization. Test of Validity & Predictability – Validity of scientific principles can be tested at any time or any number of times I. E. They stand the test of time. Each time these tests will give same result. Moreover future events can be predicted with reasonable accuracy by using scientific principles.

E. G. H2O & 02 will always give H2O. Principles of management can also be tested for validity. E. G. Principle of unity of command can be tested by comparing two persons – one having single boss and one having 2 bosses. The performance of 1st person will be better than 2nd. It cannot be denied that management has a systematic body of knowledge but it is not as exact as that of other physical sciences like biology, physics, and chemistry etc. The main reason for the inexactness of science of management is that it deals with human beings and it is very difficult to predict their behavior accurately.

Since it is a that is why its theories and principles may produce different results at different mimes and therefore it is a behavior science. Ernest Dale has called it as a Soft Science. management-?an art- Art implies application of knowledge & skill to trying about desired results. An art may be defined as personalized application of general theoretical principles for achieving best possible results. Art has the following characters – 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 knowing efferent color and brushes but different designs, dimensions, situations etc to use them appropriately. A manager can never be successful Just by obtaining degree or diploma in management; he must have also know how to apply various principles in real situations by functioning in capacity of manager. Personal Skill- Although theoretical base may be same for every artist, but each one has his own style and approach towards his Job. That is why the level of success and quality of performance differs from one person to another. E. . There are several qualified painters but M. F. Hussein is recognized for his style. Similarly management as an art is also personalized. Every manager has his own way of managing things based on his knowledge, experience and personality, that is why some managers are known as good managers (like Ditty Barilla, Rural Baja) whereas others as bad. Creativity- Every artist has an element of creativity in line. That is why he aims at producing something that has never existed before which requires combination of intelligence & imagination. Management is also creative in nature like any other art.

It combines human and non-human resources in useful way so as to achieve desired results. It tries to produce sweet music by combining chords in an efficient manner. Perfection through practice- Practice makes a man perfect. Every artist becomes more and more proficient through constant practice. Similarly managers learn through an art of trial and error initially but application of management principles over the years makes them perfect in the Job of managing. Goal-Oriented- Every art is result oriented as it seeks to achieve concrete results. In the same manner, management is also directed towards accomplishment of pre-determined goals.

Managers use various resources eke men, money, material, machinery & methods to promote growth of an organization. Thus, we can say that management is an art therefore it requires application of certain principles rather it is an art of highest order because it deals with molding the attitude and behavior of people at work towards desired goals. management-?a profession- Over a large few decades, factors such as growing size of 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 to which entry is regulated by a representative have a systematic body of knowledge that can be used for development of professionals. Every professional must make deliberate efforts to acquire expertise in the principles and techniques. Similarly a manager must have devotion and involvement to acquire expertise in the science of management.

Formal Education & Training – There are no. F institutes and universities to impart education & training for a profession. No one can practice a profession without going through a prescribed course. Many institutes of management have been set up for imparting education and training. For example, a CA cannot audit the A/CO’S unless he has acquired a degree or diploma for the same but no minimum qualifications and a course of study has been prescribed for managers by law. For example, MBA may be preferred but not necessary.

Social Obligations – Profession is a source of livelihood but professionals are primarily motivated by the desire to serve the society. Their actions are influenced by social norms and values. Similarly a manager is responsible not only to its owners but also to the society and therefore he is expected to provide quality goods at reasonable prices to the society. Code of Conduct- Members of a profession have to abide by a code of conduct which contains certain rules and regulations, norms of honesty, integrity and special ethics. A code of conduct is enforced by a representative association to ensure self discipline among its members.

Any member violating the code of conduct can be punished and his membership can be withdrawn. The AIM has prescribed a code of conduct for managers but it has no right to take legal action against any manager who violates it. Representative Association – For the regulation of profession, existence of a representative body is a must. For example, an institute of Charted Accountants of India establishes and administers standards of competence for the auditors but the AIM however does not have any statuary powers to regulate the activities of managers.

From above discussion, it is quite clear that management fulfills several essentials of a profession, even then it is not a fully fledged profession because: – It does not restrict the entry in managerial Jobs for account of one standard or other. No minimum qualifications have been prescribed for managers. No management association has the authority to grant a certificate of practice to various managers. All managers are supposed to abide by the code formulated by AIM, Competent education and training facilities do not exist. Managers are responsible to many groups such as shareholders, employees and society.

A regulatory code may curtail their freedom. Managers are known by their performance and not mere degrees. The ultimate goal of business is to maximize refit and not social welfare. That is why Haynes has rightly remarked, “The slogan for management is becoming – ‘He who serves best, also profits most’. ” Levels of management 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 work force 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 TOP level / Administrative level Middle level / Executors Low level / Supervisory / Operative / First-line managers Managers at all these levels perform different functions. The role of managers at all the three levels is discussed below: TOP Level of Management It consists of board of directors, chief executive or managing director. The top management is the ultimate source of authority and it manages goals and policies for an enterprise.

It devotes more time on planning and coordinating functions. The role of the top management can be summarized as follows – Top management lays down the objectives and broad policies of the enterprise. It issues necessary instructions for preparation of department budgets, procedures, schedules etc. It prepares strategic plans & policies for the enterprise. It appoints the executive for middle level I. E. Departmental managers. It controls & coordinates the activities of all the departments. It is also responsible for maintaining a contact with the outside world.

It provides guidance and direction. The top management is also responsible towards the shareholders for the performance of the enterprise. Middle Level of Management The branch managers and departmental managers constitute middle level. They are responsible to the top management for the functioning of their department. They devote more time to organizational and directional functions. In small organization, there is only one layer of middle level of management but in big enterprises, there may be senior and Junior middle level management.

Their role can be emphasized as – They execute the plans of the organization in accordance with the policies and directives of the top management. They make plans for the sub-units of the organization. They participate in employment & training of lower level management. They interpret and explain policies from top level management to lower level. They are responsible for coordinating the activities within the division or department. It also sends important reports and other important data to top level management. They evaluate performance of Junior managers.

They are also responsible for inspiring lower level managers towards better performance. Lower Level of Management Lower level is also known as supervisory / operative level of management. It consists of supervisors, foreman, section officers, superintendent etc. According to R. C. Davis, Supervisory management refers to those executives whose work has to be largely with personal oversight and direction of operative employees”. In other words, they are concerned with direction and controlling function of management. Their activities include – Assigning of Jobs and tasks to various workers.

They guide and instruct workers for day to day activities. Entrusted with the responsibility of maintaining good relation in the organization. They communicate workers problems, suggestions, and recommendatory appeals etc to the higher level and higher level goals and objectives to the workers. They help to solve the grievances of the workers. They supervise & guide the sub-ordinates. They are responsible for providing training to the workers. They arrange necessary materials, machines, tools etc for getting the things done. They prepare periodical reports about the performance of the workers.

They ensure discipline in the enterprise. They motivate workers. They are the image builders of the enterprise because they are in direct contact with the workers. Importance of management It helps in Achieving Group Goals – It arranges the factors of production, assembles ND organizes the resources, integrates the resources in effective manner to achieve goals. It directs group efforts towards achievement of pre-determined goals. By defining objective of organization clearly there would be no wastage of time, money and effort. Management converts disorganized resources of men, machines, money etc. Into useful enterprise.

These resources are coordinated, directed and controlled in such a manner that enterprise work towards attainment of goals. Optimum Utilization of Resources – Management utilizes all the physical & human resources productively. This leads to efficacy in management. Management provides maximum utilization of scarce resources by selecting its best possible alternate use in industry from out of various uses. It makes use of experts, professional and these services leads to use of their skills, knowledge, and proper utilization and avoids wastage. If employees and machines are producing its maximum there is no under employment of any resources.

Reduces Costs – It gets maximum results through minimum input by proper planning and by using minimum input & getting maximum output. Management uses physical, human and financial resources in such a manner which results in best combination. This helps in cost reduction. Establishes Sound Organization – No overlapping of efforts (smooth and coordinated functions). To establish sound organizational structure is one of the objective of management which is in tune with objective of organization and for fulfillment of this, it establishes effective authority & responsibility relationship I. . Who is accountable to whom, who can give instructions to whom, who are superiors & who are subordinates. Management fills up various positions with right persons, having right skills, training and qualification. All Jobs should be cleared to everyone. Establishes Equilibrium – It enables the organization to survive in changing environment. It keeps in touch with the changing environment. With the change is external environment, the initial co-ordination of organization must be changed. So it adapts organization to changing demand of market / changing needs of societies.

It is responsible for growth and survival of organization. Essentials for Prosperity of Society – Efficient management leads to better economical production which helps in turn to increase the welfare of people. Good management makes a difficult task easier by avoiding which is beneficial to business and society will get maximum output at minimum cost by creating employment opportunities which generate income in hands. Organization comes with new products and researches beneficial for society.

Functions (scope) of management Management has been described as a social process involving responsibility for economical and effective planning & regulation of 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, enhance, purchase etc. Rather these activities are common to each and every manger irrespective of his level or status. Different experts have classified functions of management. According to George & Jerry, “There are four fundamental functions of management I. E. Leaning, organizing, actuating and controlling”. According to Henry Payola, “To manage is to forecast and plan, to organize, to command, & to control”. Whereas Luther Gulling has given a keyword ‘POSTCODE’ where P stands for Planning, O for Organizing, S for Staffing, D for Directing, Co for Co-ordination, R for reporting & B for Budgeting. But he most widely accepted are functions of management given by KENTON and O’DONNELL I. E. Planning, Organizing, Staffing, Directing and Controlling. For theoretical purposes, it may be convenient to separate the function of management but practically these functions are overlapping in nature I. . They are highly inseparable. Each function blends into the other & each affects the performance of others. Opining 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. According to KENTON, “Planning is deciding in advance – what to do, when to do & how to do. It bridges the gap from where we are & where we want to be”. A plan is a future course of actions. 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, risks, wastage etc. Organizing 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 Payola, “To organize a business is to provide it with everything useful or its functioning I. . Raw material, tools, capital and personnel’s”. To organize a business involves determining & providing human and non-human Identification of activities. Classification of grouping of activities. Assignment of duties. Delegation of authority and creation of responsibility. Coordinating authority and responsibility relationships. Staffing It is the function of manning the organization structure and keeping it manned. Staffing has assumed greater importance in the recent years due to advancement of technology, increase in size of business, complexity of human behavior etc.

The main purpose o staffing is to put right man on right Job I. E. Square pegs in square holes and round pegs in round holes. According to Kenton & O’Donnell, “Managerial function of staffing involves manning the organization structure through proper and effective selection, appraisal & development of personnel to fill the roles designed UN the structure”. Staffing involves: Manpower Planning (estimating man power in terms of searching, choose the person and giving the right place). Recruitment, selection & placement. Training & development. Remuneration.

Performance appraisal. Promotions & transfer. Directing 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 hat inert-personnel aspect of management which deals directly with influencing, guiding, supervising, motivating sub-ordinate for the achievement of organizational goals.

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