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7/31/2019 Principles Of Management Chapter 1 GTU MBA
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Management: Science,
Theory, & Practice
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Definition of Management: Its Nature
and Purpose
Management is the process of designing and maintaining an
environment in which individuals, working together in groups,
efficiently accomplish selected aims.
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Functions of Management
Planning
Organizing
Staffing
Leading Controlling
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Managerial Functions at Different
Organizational Levels
All managers carry out managerial functions, but the time spent
for each function may differ.
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Time Spent in Carrying Out
Managerial Functions
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Managerial Skills and the Organizational Hierarchy
The four skills required of administrators:
Technical skills
Human skills
Conceptual And Design skills
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Skills and Management Levels
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The Goals of All Managers and Organizations
The aim of all managers should be to create a surplus. Thus,
managers must establish an environment in which people can
accomplish group goals with the least amount of time, money,
materials, and personal dissatisfaction.
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Characteristics of Excellent & Most
Admired Companies
Oriented toward action
Learned about the needs of their customers
Promoted managerial autonomy and entrepreneurship
Achieved productivity by paying close attention to the needs oftheir people
Driven by a company philosophy often based on the values oftheir leaders
Focused on the business they knew best
Had a simple organization structure with a lean staff Centralized as well as decentralized, depending on
appropriateness.
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Trends
Technology
Globalization
Entrepreneurship
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Productivity
Productivity implies effectiveness and efficiency in individual andorganizational performance.
Productivity= Input
Output
Increasing outputs with the same inputs
Decreasing inputs but maintaining the same outputs
Increasing the outputs and decreasing the inputs to change the
ratio favorably
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Definitions of Effectiveness
and Efficiency
Effectiveness is the achievement of objectives.
Efficiency is the achievement of the ends with the least amountof resources (time, money, etc.).
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Managing: Science or Art
Managing as practice is an art; the organized knowledge
underlying the practice is a science.
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Management & Administration
Administration Management
Traditional & bureaucratic More modern & dynamic
Refers to decision making &
determination of what is to be done &
how
Refers to execution & implementation of
agreed goals
Normative by nature Problem solving by nature
Stress on process, & elaborate rule
governed procedure
Stress on output by often not trying to
minimize something, but optimizing the
opposing forces.Focus on ideology Focus on skills
Importance of uniformity & standards Importance of variance & context
Priority is governance Priority is performance
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The Evolution of Management
Thought
Scientific management
Frederick Taylor, Henry Gantt, Frank & Lillian Gilbreth
Modern operational management theory
Henry Fayol
Behavioural sciences
Hugo Munsterberg, Walter Dill Scott, Max Weber, Vilfredo Pareto,Elton Mayo & F J Roethilisberger
Systems theory
Chester Bernard Modern management thought
Peter F Drucker, W Edwards Deming, Laurence Peter, WilliamOuchi, Thomas Peters and Robert Waterman
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Frederick Taylor & Scientific
Management
Fundamental principles that Taylor saw underlying scientific
management:
Replacing rules of thumb with science (organized knowledge)
Obtaining harmony, rather than discord, in group action
Achieving cooperation of human beings, rather than restricted
output
Developing all workers to the fullest extent possible for their own
and their companys highest prosperity.
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Henri Fayols 14 Principles of
Management Division of labour
Authority
Discipline
Unity of Command
Unity of Direction Subordination of Individual Interest to Common Good
Remuneration
Centralization
The Hierarchy
Order Equity
Stability of staff
Initiative
Esprit de Corps
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Elton Mayo & F J Roethlisberger
The Hawthorne studies
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Patterns of Management Analysis
The Managerial Roles Approach
Interpersonal roles
Informational roles
Decision roles
The Management Process or Operational Approach
Draws together the pertinent knowledge of management by relating
it to the managerial job.
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The Systems Approach to the
Management Process
Inputs and claimants
The managerial transformation process
The communication system
External variables
Outputs
Reenergizing the system
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The Functions of Managers
Planning Selecting missions and objectives as well as the actions to achieve them,
which requires decision making
Organizing Establishing an intentional structure of roles for people to fill in an
organization Staffing
Filling and keeping filled, the positions in the organization structure
Leading Influencing people so that they will contribute to organizational and group
roles Controlling
Measuring and correcting individual and organizational performance toensure that events conform to plans