Ch-1 Management an introduction “Anything minus management is zero” Harold koontz, “Management is the art of getting things done through others and with formally organised groups.” George R.Terry, “Management is a district process consisting of planning, organising, actualising, and controlling;utilising in each both science and art,and followed in order to accomplish pre-determined objectives.”

Nature or characteristics of management 1)It is a group effort 2)It is a goal oriented process 3)It has a distinct entity 4)It is an intangible force 5)It is a process 6)It is an inborn and acquired Quality 7)It is a universal activity 8)It is multidisciplinary 9)It is a social science 10)It is system 11)It is a dynamic system

It involves social responsibility It is a profession It is both science and art

Process or functions of management According to fayol:- Business activities 1.Technical activities 2.Commercial activities 3.Financial activities 4.Security activities 5.Accounting activities 6.Managerial activities

A. Planning:- “Thinking before hand” 1.Having perception of opportunity 2.Establishing objectives 3.Determining planning premises 4.Making a forecast 5.Searching for alternative courses 6.Evaluating alternatives 7.Selecting the best alternative 8.Formulating of supporting plans 9.Implementing plans 10.Reviewing plans

B. ORGANISING :- “ harmonies adjustment of various parties ” 1.Knowing the objectives of the enterprise 2.Determining various activities 3.Grouping and departmentalisation of activities 4.Determining of key activities 5.Assigning responsibilities 6.Delegating of authorities 7.Defining inter-relationship

C. Staffing:- “ filling & keeping filled the post with people ” 1.Determining the requirements of man-power 2.Recruitment 3.Selection 4.Placement 5.Retention 6.Training 7.Performance of appraisal 8.Promotion 9.Transfer 10.separation

D. Directing :- “Instructing,guiding,communicating and inspiring people in the organisation.” E. Controlling:- “Bring actual results closer to the desired results.” 1.Setting performance standards 2.Measurement of actual performance Comparison of actual performance with standards 3.Analysing deviations 4.Taking corrective action

Significance of management 1.Achieving pre-determined objectives 2.Ensuring maximum utilisation of resources of production 3.Overcoming competition 4.Ensuring integeration with changing environment 5.Ensuring smooth running of large scale business 6.Maintaining a sound organisational structure 7.Establishing good labour-owner relationship 8.Giving importance to research & investigation 9.Fulfilling the social responsibility 10.Aiming at increased profits

Managerial roles Interpersonal role Decisional role Informational roles 1.Role of monitor 2.Role of dissemi -nator 3.Role of spokes- -man 1.Role of figurehead 2.Role of leader 3.Role of laison officer 1.Role of enterpreneur 2.Role disturbance handler 3.Role of resource allocator role of negotiator