Management Intro

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MANAGEMENT

Management is a process of designing and maintaining an Environment in which individuals, working together in groups, accomplish selected aims. In other words,” It is the accomplishment of Goals through others.”

Management has been used in different senses. Sometimes it refers to the process of planning, organizing, staffing, directing, coordinating and controlling at other times it is used to describe it as a function of managing people. It is also referred to as a body of knowledge, a practice and discipline.

Different thoughts have been given for Management definition :-

Hanri Fayol :-“ Father of Modern Management”

                        He described management as process of functions or functional management.

F.W. Taylor :- “Father of Scientific Management”

According to him, Management is the art of knowing what you want to do and then seeing that it is done in the best and cheapest way.

Drucker :- Management is combination of Art and science.

Scope of Management

Various functional areas of management are:

•      Production management
•     Marketing management
•     Financial management
•     Personal management

Production Management:  

Production means creation of utilities by converting raw material in to final product by various scientific methods and regulations. It is very important field of management. Various sub-areas of the production department are as follows.

Plant lay out and location: This area deals with designing of plant layout, decide about the plant location for various products and providing various plant utilities

Production planning: Managers has to plan about various production policies and production methods.

Material management: This area deals with purchase, storage, issue and control of the material required for production department.

Research and Development: This area deals with research and developmental activities of manufacturing department. Refinement in existing product line or develop a new product are the major activities.

Quality Control: Quality control department works for production of quality product by doing various tests which ensure the customer satisfaction.

MARKETING MANAGEMENT:

Marketing management involves distribution of the product to the buyers. It may need number of steps. Sub areas are as follows

Advertising: This area deals with advertising of product, introducing new product in market by various means and encourage the customer to buy three products.

Sales management: Sales management deals with fixation of prices, actual transfer of products to the customer after fulfilling certain formalities and after sales Services.

Market research: It involves in collection of data related to product demand and performance by research and analysis of market.

Finance and accounting management:

Financial and accounting management deals with managerial activities related to procurement and utilization of fund for business purpose. Its sub areas are as follows

Financial accounting: It relates to record keeping of various financial transactions their Classification and preparation of financial statements to show the financial position of the organization.

Management accounting: It deals with analysis and interpretation of financial record so that management can take certain decisions on Investment plans, return to investors and dividend policy

Taxation: This area deals with various direct and indirect taxes which organization has to pay.

Costing: Costing deals with recording of costs, their classification, analysis and cost control.

Personnel Management:

Personnel management is the phase of management which deals with effective use and control of manpower. Following are the sub areas of Personnel management

Personnel planning: This deals with preparation inventory of available manpower and actual requirement of workers in organization.

Recruitment and selection: This deals with hiring and employing human being for various positions as required.

Training and Development: Training and development deals with process of making the employees more efficient and effective by arranging training programmes. It helps in making team of competent employees which work for Growth of organisation.

Wage administration: It deals in job evaluation, merit rating of jobs and making wage and incentive policy for employees.

Industrial relation: It deals with maintenance of overall employee relation, providing good working conditions and welfare services to employees.

FUNCTIONS OF MANAGEMENT:-

Planning

Organizing

Staffing

Direction

Coordination and control

DECISION MAKING

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Management is the process of planning, organizing, directing, and controlling an organization’s Resources to achieve its goals. Management is a complex and challenging field that requires a variety of skills and knowledge.

There are many different management theories and models, each with its own strengths and weaknesses. Some of the most popular management theories include scientific management, bureaucratic management, human relations management, and systems management.

There are also many different management styles, each with its own advantages and disadvantages. Some of the most common management styles include authoritarian, democratic, and laissez-faire.

Management decision making is the process of choosing from among alternative courses of action. Effective decision making is essential for the success of any organization.

Management Communication is the process of exchanging information and ideas between managers and employees. Effective communication is essential for the success of any organization.

Management Leadership is the process of influencing others to achieve a common goal. Effective leadership is essential for the success of any organization.

Management motivation is the process of influencing employees to perform at their best. Effective motivation is essential for the success of any organization.

Management teamwork is the process of working together to achieve a common goal. Effective teamwork is essential for the success of any organization.

Management Conflict Management is the process of resolving disagreements between employees. Effective conflict management is essential for the success of any organization.

Management change management is the process of helping employees adapt to change. Effective change management is essential for the success of any organization.

Management ethics is the study of the moral principles that guide management decisions. Effective management ethics is essential for the success of any organization.

Management sustainability is the practice of managing an organization in a way that meets the needs of the present without compromising the ability of future generations to meet their own needs. Effective management sustainability is essential for the success of any organization.

Management innovation is the process of introducing new ideas and practices into an organization. Effective management innovation is essential for the success of any organization.

Management strategy is the process of developing and implementing a plan for achieving an organization’s goals. Effective management strategy is essential for the success of any organization.

Management operations is the process of managing the day-to-day activities of an organization. Effective management operations is essential for the success of any organization.

Management Marketing is the process of creating and delivering value to customers in order to achieve organizational goals. Effective management marketing is essential for the success of any organization.

Management finance is the process of managing an organization’s Money. Effective management finance is essential for the success of any organization.

Management human resources is the process of managing an organization’s employees. Effective management human resources is essential for the success of any organization.

Management information systems is the process of managing an organization’s information. Effective management information systems is essential for the success of any organization.

Management international business is the process of managing an organization’s activities in multiple countries. Effective management international business is essential for the success of any organization.

Management Entrepreneurship is the process of starting and running a new business. Effective management entrepreneurship is essential for the success of any organization.

Management consulting is the process of providing advice and guidance to organizations. Effective management consulting is essential for the success of any organization.

Management Education is the process of teaching people about management. Effective management education is essential for the success of any organization.

Management research is the process of studying management in order to improve it. Effective management research is essential for the success of any organization.

Management practice is the application of management knowledge and skills in the real world. Effective management practice is essential for the success of any organization.

Management is a complex and challenging field that requires a variety of skills and knowledge. However, it is also a rewarding field that can offer great satisfaction and success.

What is management?

Management is the process of organizing and overseeing the work of a group of people to achieve a common goal. It involves planning, organizing, leading, and controlling the work of others.

What are the different types of management?

There are many different types of management, but some of the most common include:

• Operational management: This type of management is responsible for the day-to-day operations of a business. It includes tasks such as scheduling, BUDGETING, and quality control.
• Strategic management: This type of management is responsible for the long-term goals of a business. It includes tasks such as developing a business plan, setting goals, and allocating resources.
• Human resources management: This type of management is responsible for the people who work for a business. It includes tasks such as recruiting, hiring, and training employees.
• Marketing management: This type of management is responsible for creating and promoting a product or service. It includes tasks such as market research, advertising, and sales.
• Financial management: This type of management is responsible for the money that a business makes and spends. It includes tasks such as budgeting, accounting, and investing.

What are the skills required for management?

There are many different skills required for management, but some of the most important include:

• Communication skills: Managers need to be able to communicate effectively with their employees, customers, and other stakeholders.
• Problem-solving skills: Managers need to be able to identify and solve problems effectively.
• Decision-making skills: Managers need to be able to make decisions quickly and effectively.
• Leadership skills: Managers need to be able to lead and motivate their employees.
• Organizational skills: Managers need to be able to organize and manage their time effectively.
• Time management skills: Managers need to be able to manage their time effectively.
• Teamwork skills: Managers need to be able to work effectively as part of a team.
• Flexibility: Managers need to be able to adapt to change and be flexible in their approach to work.
• Stress management skills: Managers need to be able to manage stress effectively.

What are the challenges of management?

There are many challenges of management, but some of the most common include:

• Managing people: One of the biggest challenges of management is managing people. This includes tasks such as motivating employees, resolving conflict, and providing feedback.
• Making decisions: Managers need to be able to make decisions quickly and effectively. This can be a challenge, especially when there is a lot of pressure to make the right decision.
• Dealing with change: The business world is constantly changing, and managers need to be able to adapt to change. This can be a challenge, especially when change is disruptive or unexpected.
• Managing time: Managers need to be able to manage their time effectively. This can be a challenge, especially when there is a lot of work to be done and a lot of demands on your time.
• Managing stress: Management can be a stressful job, and managers need to be able to manage stress effectively. This can be a challenge, especially when there is a lot of pressure to perform and meet expectations.

What are the rewards of management?

There are many rewards of management, but some of the most common include:

• Making a difference: Managers have the opportunity to make a difference in the lives of their employees, customers, and other stakeholders.
• Earning a good living: Management can be a well-paid career.
• Having a challenging and rewarding job: Management can be a challenging and rewarding job.
• Having the opportunity to learn and grow: Management can be a great way to learn and grow professionally.
• Having the opportunity to Network with other professionals: Management can be a great way to network with other professionals.
• Having the opportunity to work with a talented team: Management can be a great way to work with a talented team of people.

1. Which of the following is not a function of management?
   (A) Planning
   (B) Organizing
   (C) Controlling
   (D) Motivating
   (E) Executing

2. Which of the following is a type of organizational structure?
   (A) Functional structure
   (B) Divisional structure
   (C) Matrix structure
   (D) All of the above

3. Which of the following is a type of leadership style?
   (A) Autocratic
   (B) Democratic
   (C) Laissez-faire
   (D) All of the above

4. Which of the following is a type of decision-making?
   (A) Programmed decision
   (B) Non-programmed decision
   (C) Both (A) and (B)

5. Which of the following is a type of conflict?
   (A) Intrapersonal conflict
   (B) Interpersonal conflict
   (C) Intergroup conflict
   (D) All of the above

6. Which of the following is a type of communication?
   (A) Verbal communication
   (B) Non-verbal communication
   (C) Both (A) and (B)

7. Which of the following is a type of motivation?
   (A) Intrinsic motivation
   (B) Extrinsic motivation
   (C) Both (A) and (B)

8. Which of the following is a type of group?
   (A) Formal group
   (B) Informal group
   (C) Both (A) and (B)

9. Which of the following is a type of power?
   (A) Legitimate power
   (B) Reward power
   (C) Coercive power
   (D) Expert power
   (E) Referent power

10. Which of the following is a type of organizational culture?
    (A) Strong culture
    (B) Weak culture
    (C) Both (A) and (B)

Answers:
1. (E)
2. (D)
3. (D)
4. (D)
5. (D)
6. (D)
7. (D)
8. (D)
9. (E)
10. (C)