MANAGEMENT

BY-THAKUR COLLEGE

FYBS/D/9051ABHISHEK MISHRA

Contents

Intorduction1

Levels of Management2

Nature & scope3

Application & Process4

PP5

Scientific Management6

Merit & Demerit7

Conclusion8

Principles of management

Introduction

EffectivenessEffectiveness

EfficiencyEfficiencyGetting workdone through

others

Getting workdone through

others

“Management is the art of knowing what you want to doAnd then seeing that it is done in the best and cheapest way”

A business develops in course of time with complexities. With increasing complexities managing the business has become a difficult task. The need of existence of management has increased tremendously. Management is essential not only for business concerns but also for banks, schools, colleges, hospitals, hotels, religious bodies etc.

It is management that regulates man's productive activities throughcoordinated use of material resources. Without the leadership provided by management, the resources of production remain resources and never become production.

Levels

Mar

ketin

g

Admin

istra

tion

Other

Human

reso

urces

Operat

ions

Finan

ce

Middle managers

Areas of Management

Levels of Management

First-line managers

Top managers

Levels of Management

First-line Managers: have direct responsibility for producing goods or services Foreman, supervisors, clerical supervisors

Middle Managers: Coordinate employee activities Determine which goods or services to

provide Decide how to market goods or services

to customersAssistant Manager, Manager (Section

Head)

Top Managers: provide the overall direction of an organization Chief Executive Officer, President, Vice President

Nature & Scope

Universal processContinuous processGoal orientedGroup activityIntangible force

Scope

Production managementMarketing managementFinancial managementPersonal management

Process of management

Principles of Management

1. Division of Work: allows for job specialization. Work

should be divided among individuals and groups.

2. Authority and Responsibility: Authority right to

give orders. Responsibility involves being answerable

Whoever assumes authority assumes responsibility

3. Discipline: Common efforts of workers. Penalties

4. Unity of Command: Employees should have only

one boss.

5. Unity of Direction: A single plan of action to guide

the organization.

6. Subordination of individual interests to the

general interests of organization

Principles of Management

7. Remuneration: An equitable uniform payment system that motivates and contribute to success. 8. Centralization: The degree to which authority rests at the top of the organization.

9. Scalar Chain: Chain like authority scale.10. Order: The arrangement of employees where they will be of the most value to the organization.11. Equity: The provision of justice and fair dealing 12. Stability of Tenure of Personnel13. Initiative14. Esprit de corps: Harmony, general good feeling among employees

Scientific Management

Scientific management is defined as the use of the scientific methodTo determine the “one best way” for a job to be done. The most important contributor in this field was Frederick W. Taylor who is known as the “father” of scientific management. Using his principles of scientific management, Taylor was able to define the “one best way” for doing each job. Frank and Lillian Gilbreth were inspired by Taylor’s work and proceeded to study and develop their own methods of scientific management. They devised a classification scheme to label 17 basic hand motions called ‘the bligs’ in order to eliminate wasteful motions Guidelines devised by Taylor and others to improve production efficiency are still used in today’s organizations. However, current management practice is not restricted to scientific management practices alone.

Elements of scientific management still used include:1. Using time and motion studies2. Hiring best qualified workers3. Designing incentive systems based on output

Merit

3 Important merits of management

Involvement of the personalOrderly growth of the organisationMotivation of management

Demerit

3 Important demerits of management

Time consumingSometime failure of coordinationCostly process

Conclusion

Management is very essential for all kind of business or organization

To achieve the goals of an organization management is necessary.

All the principal should be practiced in order to get the accurate result