Principles of Management

Introduction Total Lectures : 13 Topics : 11 2 presentations by each group Analysis on a topic provided : 2 Groups per sesssion from 5-11th sessions

15 marks Marks 25

Group presentations : lecture 12 & 13

Check with the institute regarding compulsory 70% attendance for examinations
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Lectures and presentation topics

Lectures Concepts Ethics Evolution of management Planning Organising Decision Control Leadership styles Motivation Change Stragegic HRM

Presentations Case study analysis : case study will be provided Analysis on

Group -1 FISH Group 2 ISO 9001 and 14001 Group 3 - Who moved my cheese Group 4 Patents Group 5 - Leadership styles in Indian family managed business 3 such businesses Group 6 Corporate Governance and CSR Group 7 Total Quality Management Group 8 to 14 Caselets

Management Functions and Principles

Typical Dichotomy Between Management & Leadership

Leaders Focus on the future Create change Create a culture based on shared values Establish emotional link with followers Use personal power Managers Focus on the present Maintain status quo Implement policies and procedures Remain aloof and maintain objectivity Use position power
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Managerial Rationality Why Do Managers Do What They Do?

The external environment Pressures and constraints Competitive strategy Organizational design and technology Cross-cultural factors

Traditional Management Principles

Plan Organize Direct Control Management by Objectives

Specific goals and objectives Established at each level of the organization Managers Subordinates together determine the subordinates goals Managers Subordinates periodically review the subordinates progress toward meeting goals

Contemporary Management Principles

Focus on Meeting or Exceeding Internal and External Customer Expectations Manage and Control Processes Decisions are Data Driven Utilize Teams for Process Improvement and Innovation Develop Effective Supplier and Customer Relationships Lead by Example Role Model Organizational Values and Take Responsibility for Planned Change
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What is Management

Management is the process of designing, and maintaining an environment in which individuals working together in groups, efficiently accomplish selected aims.

What is Management?

Management The planning, organizing, leading, and controlling of human and other resources to achieve organizational goals effectively and efficiently

Getting work done through people

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What is Management?

Organizations

Collections of people who work together and coordinate their actions to achieve a wide variety of goals Common characteristics

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Organizational Performance

Efficiency

Effectiveness

A measure of how well or productively resources are used to achieve a goal

A measure of the appropriateness of the goals an organization is pursuing and the degree to which they are achieved.

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Efficiency, Effectiveness, and Performance in an Organization

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Four Tasks of Management

Figure 1.2

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Planning

Planning

Process of identifying and selecting appropriate goals and courses of action Deciding which goals to pursue Deciding what strategies to adopt to attain those goals Deciding how to allocate organizational resources
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Organizing

Organizing

structuring working relationships so organizational members interact and cooperate to achieve organizational goals Organizational Structure A formal system of task and reporting relationships that coordinates and motivates organizational members so that they work together to achieve organizational goals

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Leading

Leading

Articulating a clear vision and energizing and enabling organizational members so they understand the part they play in attaining organizational goals The outcome of the leading function is a high level of motivation and commitment from employees to the organization.
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Controlling

Controlling

Evaluating how well an organization is achieving its goals and taking action to maintain or improve performance

The outcome of the controlling function is the accurate measurement of performance and regulation of efficiency and effectiveness.

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Levels of Managers

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Relative Amount of Time That Managers Spend on the Four Managerial Tasks

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Managerial Skills

Conceptual skills

The ability to analyze and diagnose a situation and distinguish between cause and effect. The ability to understand, alter, lead, and control the behavior of other individuals and groups. The specific knowledge and techniques required to perform an organizational role.

Human skills

Technical skills

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Recent Changes in Management Practices

Restructuring

downsizing an organization by eliminating the jobs of large numbers of top, middle, or first-line managers and non-managerial employees

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Recent Changes in Management Practices

Outsourcing

contracting with another company, usually in a low cost country abroad, to perform an activity the company previously performed itself

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Increases efficiency because it lowers operating costs, freeing up money and resources that can be used in more effective ways

Empowerment and Self-Managed Teams

Empowerment

Expansion of employees knowledge, tasks, and decision-making responsibilities a group of employees with the responsibility for organizing, controlling, and supervising their own activities and for monitoring the quality of the goods and services they provide
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Self-managed team

Challenges for Management in a Global Environment

Rise of Global Organizations. Building a Competitive Advantage Maintaining Ethical and Socially Responsible Standards

Managing a Diverse Workforce Utilizing IT and ECommerce Practicing Global Crisis Management

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Building Competitive Advantage

Competitive advantage

Ability of one organization to outperform other organizations because it produces desired goods or services more efficiently and effectively than they do

Increasing

Efficiency Increasing Quality Increasing Speed, Flexibility, and Innovation Increasing Responsiveness to Customers 1-25

Building Blocks of Competitive Advantage

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Practicing Global Crisis Management

Crisis management involves making important choices about how to:
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Create teams to facilitate rapid decision making and communication Establish the organizational chain of command Recruit and select the right people Develop bargaining and negotiating strategies to manage conflicts
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