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1.1 Management, Efficiency and effectiveness are both important for…
1.1 Management
Characteristics/Features
2. All Pervasive
-It is common to all organizations -petrol pump,hospital, school
3. Multi-dimensional
- management of work, people, operations
4. Continuous Process
- different functions - POSDC - done all the time
5. Group Activity
- different individuals working towards a common goal
6. Dynamic Function
- has to change with changing environment
7. Intangible Force
- not seen but presence felt
1. Goal oriented
- has well defined goals, Spastic society vs retail store
Objectives
1.
Organzational objectives
- Survival, Profit, Growth
2. Social Objectives
- environment friendly, employment for disadvantaged, creche and schools for employees
3. Personal Objectives
- good salary, perks, peer recognition, personal growth
Importance
1. Helps in achieving group goals
- different departments work towards the common goal of organization
2. Increases efficiency
- POSDC help increase efficiency by reducing costs and increasing productivity
3. Creates a dynamic organization
- Management helps employees to adapt to changing environment
4. Helps in achieving personal goals
- management motivates individual
5. Helps in development of society
- good quality products at reasonable cost, employment, environment friendly, schools creches
Nature
It is an Art
- existence of theoretical knowledge, Personalized application, based on practice and creativity
It is a Science
- systematized body of knowledge, Principles based on experiments, Universal validity (NA)
Is it a Profession?
1. Well defined body of knowledge
- true, many colleges offering management courses eg: IIM
2. Restricted Entry
- NA - Can become manager irrespective of educational qualification
3. Professional Association
- NA - these regulate entry and grant certificate to practice eg: bar council - but managers need not be part of associations such as AIMA
4. Ethical code of conduct
- NA - AIMA has laid down a code of conduct but there is no compulsion for managers to follow it
5. Service motive
- Business can be profit oriented but a good management serves society by providing quality products at reasonable rates
Levels
Top Management
- Chairman, CEO, COO, President, VP - decide goals for the organization, plan strategies to achieve goals, decide policies, has overall responsibility
Middle level Management
- Division heads, Purchase manager, Production Manager, Marketing Manager - implement policies of top management, recruit employees, assign duties, motivate them to achieve goals
Supervisory or Operational Management
- Foreman, Inspector, Supervisor - supervise workers, pass instructions from middle management to workers, maintain quality and quantity of products, reduce wastage
Functions
Planning, Organizing, Staffing, Directing, Controlling
Coordination
Definition
- It is the essence of management. It is the process by which a manager synchronizes activities of different departments
Chracteristics/Features
1. It integrates group efforts
- different groups work towards common goal
2. It ensures unity of action
- different departments production, sales, marketing work towards a common goal
3. It is a continuous process
- it is not a one-time function - POSDC required
4. It is an all-pervasive function
- different departments are interdependent -If purchase goes wrong it can affect production, sales etc
5. It is the responsibility of managers
- top, middle and organizational level coordination required
6. It is a deliberate function
- does not occur spontaneously, coordination can only be achieved through conscious efforts of manager
Definition
It is the process of planning, organizing, staffing, directing & controlling an organization's resources
effectively and efficiently
to achieve the goals of the organization
Efficiency and effectiveness
are both important for management. Effectiveness means completing tasks correctly and achieving goals. But it can be at high cost. Efficiency means doing the task correctly with minimum cost, using less resources