1. MANAGEMENT AND ENTREPRENEURSHIP
Part A unit 1.
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2. Books.
TEXT BOOKS: 1. Principles of Management -P. C. Tripathi, P. N. Reddy; Tata McGraw Hill, 4th Edition, Dynamics of Entrepreneurial Development & Management -Vasant Desai Himalaya Publishing House. 3. Entrepreneurship Development -Small Business Enterprises -Poornima M Charantimath -Pearson Education – REFERENCE BOOKS: 1. Management Fundamentals -Concepts, Application, Skill Development Robert Lusier – Thomson. 2. Entrepreneurship Development -S S Khanka -S Chand & Co. 3. Management -Stephen Robbins -Pearson Education /PHI -17th Edition, 2003
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3. MANAGEMENT….. Art of getting things Done through people.
The process consisting of
planning
organizing
controlling
Staffing
to determine and accomplish the use of people and resources in a systematic way..
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4. Management activities
Planning
Organizing
Directing
Staffing.
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5. Scope of management.
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6. Roles of a manager Interpersonal roles. Informational roles.
Decisional roles.
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7. Interpersonal roles Figure head Leader Liason.
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8. Informational roles Monitor Disseminator. Spokesperson.
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9. Decisional roles Entrepreneur Negotiator Resource allocator.
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10. Managerial skills. Conceptual skills. Technical skills. HR skills.
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11. Management is science or art?
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12. Management is art as------
management involves the use of knowledge and skills.
achieve concrete practical results.
management is creative.
management is a personalized process
requires judgment and skills
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13. Management is science
establishes cause and effect relationship between different variables.
contains concepts, principles and theories.
principles of management have been developed through continuous observations and empirical verification.
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14. Levels of management. Top level. Middle level.
Bottom/first line level.
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15. Top level 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.
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16. Role of top management.
lays down the objectives and broad policies of the enterprise.
issues necessary instructions for preparation of department budgets, procedures, schedules etc.
prepares strategic plans & policies for the enterprise.
appoints the executive for middle level i.e. departmental managers.
controls & coordinates the activities of all the departments.
responsible for maintaining a contact with the outside world.
provides guidance and direction.
responsible towards the shareholders for the performance of the enterprise.
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17. Middle level 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.
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18. Roles of middle level managers.
execute the plans of the organization in accordance with the policies and directives of the top management.
make plans for the sub-units of the organization.
participate in employment & training of lower level management.
interpret and explain policies from top level management to lower level.
responsible for coordinating the activities within the division or department.
sends important reports and other important data to top level management.
evaluate performance of junior managers.
responsible for inspiring lower level managers towards better performance.
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19. Lower level management
Lower level is also known as supervisory / operative level of management.
It consists of supervisors, foreman, section officers, superintendent .
They are concerned with direction and controlling function of management.
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20. Roles of lower level management.
Assigning of jobs and tasks to various workers.
They guide and instruct workers for day to day activities.
They are responsible for the quality as well as quantity of production.
They are also entrusted with the responsibility of maintaining good relation in the organization.
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21. ……roles
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.
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22. …roles
arrange necessary materials, machines, tools etc for getting the things done.
prepare periodical reports about the performance of the workers.
ensure discipline in the enterprise.
motivate workers.
image builders of the enterprise because they are in direct contact with the workers.
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23. Management approaches.
1)Early classical approaches represented by
a)scientific management
b)administrative management and
c)bureaucracy
2) Neoclassical approaches represented by
a)human relations movement and behavioral approach
3)Modern approaches represented by
a)quantitative approach
b)systems approach and
c)contingency approach
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24. scientific management
Fredric Winslow( ) is considered as the father of Scientific management
Exerted a great influence on the development of the management through his experiment and writings.
Conducted as a series of experiments in three companies Midvale steel, Simonds Rolling machine and Bethlehem Steel while serving as a chief engineer of Midvale steel company for a period of 26 years.
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25. F.WTaylors contributions under scientific management
Time and motion study
Differential payment
Scientific recruitment and training
Intimate and friendly cooperation between the management and the workers
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26. Fayol’s Administrative management
Henry Fayol is considered as the father of administrative management( )
Where the focus is on development of broad administrative principles.
Was a French mining engineer turned a leading industrialist and a successful manager.
Provided a broad analytical framework of the process of administration
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27. Fayol’s 14 principles of management
Division of work
Authority and responsibility
Discipline
Unity of command
Unity of direction
Subordination of individual interest to general interest
Remuneration
Scalar chain
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28. Modern Management approaches
Behavioral Approach
Quantitative Approach
Contingency Approach
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29. Bureaucracy
German scientist Max Weber is considered to be the father of Bureaucracy.
Made a study on various business and government organizations and distinguished three types of administration amongst them.
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30. Leader oriented tradition oriented and bureaucratic
Leader oriented: Administration is one in which there is no delegation of management functions and all employees serve as loyal subjects of a leader.
Tradition oriented: all managerial positions are handed down from generation to generation and who are you rather than what you can do becomes the primary function.
Bureaucratic oriented: is based on the persons demonstrated ability to hold the position and no person can claim particular position either because of his loyalty to the leader or because the position has been traditionally held by members of his family and the people earn positions because they are presumed to be best capable of filling them.
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31. Important features of Bureaucratic Administration
Follows standard rules
Systematic division of work
Principle of hierarchy followed
Administrative acts, decisions and rules are recorded in writing
rational personnel administration
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32. Behavioral Approach Abraham Maslow and Douglas McGregor.
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33. Quantitative Approach
Operations Research
Operations management
Management Information System
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34. Operations Research
Operations Research is an approach aimed at increasing decision effectiveness through the use of sophisticated mathematical models and possibilities as they can accomplish extensive calculation.
Some operations research tools are linear programming, querying, waiting line, routing and distribution models.
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35. Operations management:
Operation management is a field that is responsible for managing the production and delivery function of an organization‘s products and services.
Operations management is generally applied to manufacturing industries and uses tools such as inventory analysis, statistical quality control, networking etc.
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36. Management Information System
Management Information System refers to the designing and implementing computer based information systems for use by the management.
Such systems turn raw data into information that is required and useful to various levels of management.
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37. Contingency Approach
A view point which believes that appropriate managerial action depends on the peculiar nature of every situation.
This approach is a viewpoint which argues that there is no best way to handle problems.
Managerial action depends on the particular situation.
Hence, rather than seeking universal principles that apply to every situation, this theory attempts to identify contingency principles that prescribe actions to take depending on the situation.
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38. Systems approach
Provides integrated approach to management problems and the key concepts of systems approach are :-
A system is a set of independent parts
Concept of considering the system as a whole:
System can be either open or closed
Every system has a boundary
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39. A system is a set of independent parts
Structure subsystem: refers to the formal division of authority and responsibility, communication channels and workflow.
People subsystem: refers to the employees with their motives, attitudes and values and the informal organization.
Technology subsystem: refers to the tools and equipment as well as techniques which are used by the organization to perform the task.
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40. Concept of considering the system as a whole
Means that no part of the system can be analyzed and understood apart from the whole system and conversely, the whole system cannot be accurately perceived without understanding all its parts.
Each part bears a relation of interdependence to every other part which rather than dealing separately with the various parts of the organization as a whole.
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41. System can be either open or closed
Open system is one which interacts with its environment and closed system is one which is independent of the environment.
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