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Management Foundation Module 1 Part 1/2 Introduction to Management -…
Management Foundation Module 1 Part 1/2 Introduction to Management
Management Definition
Henry Fayol: Forecast, plan, organize, command, coordinate, control
Peter Drucker: Manages business, managers, and workers
Koontz O'Donnell: Internal environment creation for group goals
Ordway Tead: Directs operations for realizing aims
Stanley Vance: Decision-making and control
Dalton E. McFarland: Systematic, coordinated, cooperative effort
Nature of Management
Management is a Process
Continuous process of coordinating resources to meet goals
Universal Activity
Applicable in all group efforts like business, education, social work
Management as Science Art
Science: Systematic body of knowledge, principles, experiments
Art: Application of knowledge to solve practical problems
Management as a Profession
Defined body of knowledge, professional preparation, ethical standards
Group Activity
Deals with collective efforts to achieve organizational goals
System of Authority
Power to make others act in a predetermined manner
Decision Making
Success depends on quality of managerial decisions
Good Leadership
Directs subordinates to achieve set goals
Dynamic, Not Static
Adapts to social and environmental changes
Example: If the gov changes a policy, manager will have to change
Interdisciplinary
Draws ideas from economics, maths, sociology, psychology, etc.
Intangible
Cannot be seen, visible only through results like profit
Goal Oriented
Purposeful activity aimed at achieving objectives
Levels of Management
Top, middle, lower levels
Need for Organization
Organizing resources for efficient management
Getting Work done Through the people
Is Management a Science or an Art?
Management as a Science
Systematic body of knowledge, principles, experiments
Management as an Art
Practical application of knowledge, mastery of skills
Management is Both
Science offers general concepts, art is handling practical situations
Functions of Management
Planning
Deciding firm's mission, goals, strategies
Organizing
Assigning tasks and allocating resources
Staffing
Recruitment, selection, training, placement
Leading
Guiding and motivating employees
Controlling
Monitoring and correcting deviations from plan
Administration vs Management
Planning vs Doing
Policy Formulation vs Policy Implementation
Top Level vs Middle/Lower Level
Principal vs Agency
Levels of Management
Top Level / Corporate Manager
Strategic planning, long-term vision
CEO,COO,MD,VP
Middle Level
Implementing strategies, coordinating between top and lower levels
Plant manager, Operation manager, Division manager
Lower Level
Supervising daily operations, managing workers
Office manager
Responsibilities of a Manager
Interpersonal Roles
Figurehead, leader, liaison
Informational Roles
Monitor, disseminator, spokesperson
Decisional Roles
Entrepreneur, disturbance handler, resource allocator, negotiator
Skills of a Manager
Technical Skills
Human Skills
Conceptual Skills
Diagnostic (from Amigo Video)
Communication (from Amigo Video)
Decision making (from Amigo Video)
Time Management (from Amigo Video)
Manager's Responsibilities
Working with & through People
Collaboration with internal and external stakeholders
Mediator
Resolving conflicts between different interests
Diplomat
Representing organization to external groups
Symbol of Success or Failure