Introduction to Management Book PDF Full Course , Introduction to Management Book – One of the most important activities that all of us engage in, is managing. Ever since human life started either to organize for food or shelter, the elements of management were subtly seen in all these activities. History also confirms the application of management techniques, which are visible even today.
The Egyptian pyramids built centuries ago, are evidence of excellent organizational skills of scores of workers in those times, thus making us believe that a number of management functions were in use long ago. Similarly, Indus valley civilization also demonstrates the use of management techniques of a higher level of sophistication, considering the time it was built. Further, these instances also show that management has been an inherent part in human survival and organized activity as well.
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- 1 What is Management ?
- 2 MEANING AND DEFINITION OF MANAGEMENT
- 3 CHARACTERISTICS OF MANAGEMENT
- 4 MANAGEMENT AND ADMINISTRATION
- 5 FUNCTIONS OF MANAGEMENT
- 6 What are the CHALLENGES OF MANAGEMENT
What is Management ?
- Setting goals and objectives: Management involves determining what the organization wants to achieve and creating a plan to reach those goals.
- Organizing resources: Management involves arranging and allocating the resources (people, money, materials, etc.) necessary to achieve the goals.
- Leading and motivating employees: Management involves motivating and directing employees to work towards achieving the goals and objectives of the organization.
- Monitoring and controlling progress: Management involves monitoring the progress of the organization and taking corrective action when necessary to ensure that goals are being met.
- Decision-making: Management involves making decisions that will benefit the organization and its stakeholders.
- Problem solving: Management involves identifying and solving problems that arise within the organization.
- Innovation: Management involves continuously finding new and innovative ways to improve the organization’s performance.
- Adaptation: Management involves the ability to adapt the organization to changes in the external environment.
Management is often divided into three levels: top management, middle management, and lower management. Top management includes the highest level of executive management, such as the CEO, CFO, and COO. Middle management includes managers at the departmental level, such as managers of sales, marketing, and human resources. Lower management includes managers at the operational level, such as supervisors and team leaders.
In summary, management is a multifaceted and dynamic process that involves a wide range of functions and responsibilities, all of which are aimed at achieving the goals and objectives of an organization.
MEANING AND DEFINITION OF MANAGEMENT
Introduction to Management Book PDF Full Course As the meaning and definition evolved, the focus on the process gained importance. F W Taylor defined management “as the art of knowing what you want to do in the best and cheapest way”In spite of various definitions, the dynamic nature of management makes it difficult to have a universally accepted definition encompassing all its dimensions in its entirety.
NATURE OF MANAGEMENT
A debate continued for quite long on what exactly is the nature of management. One school of thought argues that management is a science, which the other school of thought disagrees and views as an art. Science represents a systematic body of knowledge with underlying principles that have universal application. Scientific procedure depends on reliability and validity based on experimentation and generalization. One of the principles of science also is to explain the cause and effect phenomenon with disciplined imagination. Appling these principles, management over the years has developed certain principles, laws, theories and generalizations which could be applied universally in a variety of organizations.
Luther Gullick argues that management has a body of knowledge with underlying principles and is in the process of being called a science. He also contended that the interrelationship in the business scenario was being scientifically and systematically explained with emerging theories tested and proven and improved by logic and the facts on the ground.Scientific management proposed by F W Taylor was termed as scientific management, which is proof enough for the status of a science based on a numbers of experiments on the human beings on the shop floor using management techniques. As the field does not enjoy the status of an exact science in the nature of pure sciences like physics, chemistry etc., some argue it as an inexact science. Management deals with human beings and hence it is difficult to verify and predict the complex human behavior.
The nature of management could also be understood in terms of its status as a profession. A profession by definition is a certified vocation of individuals that enables applying the basics principles and practices under a certain given code of conduct. Given the above definition, effort has been made to consider to management as profession. The criteria for a profession, according to Edgar Shein, a psychologist, is
• A codified body of knowledge
• A long period of formal education and training
• Specified criteria for entry
• A code of conduct/code of ethics
• Professional tools/ techniques
• Specialized fields of study
• A professional body/association
CHARACTERISTICS OF MANAGEMENT
Management is characterized by a few elements. They are:
Management is a group activity : Since the organization reflects the social dimension, where individuals interact with each other in getting things done, individual efforts alone doesn’t guarantee results. Moreover, management cannot be done in isolation and hence, includes group activity. Management is thus seen as integrating individual efforts through organized group activity.
Management is Universal in its application : Management applies to government, business enterprises, education institutions, military, medical and non-governmental organizations in equal measure. The principles of management suggested by the German industrial Psychologist Henry Fayol, are considered as guiding principles which could be adapted to specific organizational context.
Management is a continuous activity : Management is dynamic in nature and hence is continuous. The ever changing organizational activity provides continuity to management functions.
Management as an Integrated Effort : The process of management integrates the human and other resources in the achievement of the objectives of the organization. In the process, the individual goals and the organizational goals get aligned for effective functioning of the organization.
MANAGEMENT AND ADMINISTRATION
Management and Administration are used interchangeably in most discourses, although, they differ significantly in meaning and focus. Administration and management are represented by two groups- one led by British School of thought and other led by American researchers. The British scholars argue that management is much wider compared to administration and usually related to the top management. They contend that administration relates to carrying out the activities at the operational level. Scholars like OrwayTead, William Sprigel supporting the American School, advocate that administration is the thinking function and management is the implementing function. The role of administration according to them is policy formulation while the managers implement the policy and get involved in the day- to- dayoperations.
The British School of thought argues that management is superior to administration. The focus of administration is on the immediate problems, while the management focus is on the long term objectives. They maintain that management involves itself in the rule making/rule enforcing while
administration engages itself with the situation on hand. According to them, management is a comprehensive concept and administration is a part of this. However, the contemporary thinking equates management and administration. Keith Davis is a supporter of this thinking. According to him,
management process is essentially the same in all the organizations and hence, the management and administration have to essentially go through the same process and hence they remain the same.
THE IMPORTANCE OF MANAGEMENT
Management is essential for the success of any organization because it helps to ensure that resources are used effectively and efficiently to achieve the goals and objectives of the organization. The importance of management can be summarized in the following ways:
- Achieving goals: Effective management helps to ensure that the organization’s goals are met by planning, organizing, leading, and controlling resources.
- Resource utilization: Management helps to ensure that the organization’s resources, including people, money, and materials, are used effectively and efficiently.
- Improving performance: Management helps to improve the performance of the organization by monitoring progress, identifying and solving problems, and making necessary adjustments.
- Facilitating innovation: Management helps to create an environment that encourages innovation and creativity, which can lead to new products, services, and processes that can give the organization a competitive advantage.
- Adapting to change: Management helps organizations to adapt to changes in the external environment by monitoring trends, identifying new opportunities, and making necessary adjustments.
- Building a strong team: Effective management helps to build a strong and motivated team by providing clear direction, setting clear expectations, and providing the necessary support and resources.
- Good decision making: Management helps the organization to make good decisions by providing accurate and timely information and by encouraging the participation of all stakeholders in the decision-making process.
Building strong relationships: Management helps to build strong relationships with key stakeholders, including customers, suppliers, and partners, which are essential for the long-term success of the organization.
FUNCTIONS OF MANAGEMENT
All managers, irrespective of the level- top, middle and lower –perform management functions. However, the time spent by the managers on these activities differ based on the level at which there are placed. For example, the top managers spent more time on planning and organizing whereas, middle level managers spend more time on leading the group directing and controlling. Introduction to Management Book PDF Full Course Similarly the lower level spend more time on organizing themselves to execute the task.
The primary functions of management are generally grouped under five heads- Planning, organizing, staffing, directing and controlling (Figure 1 as proposed by Koontz O’ Donnel)
Different thinkers explained the functions in different ways. Luther Gullick discussed the function of management through the acronym –POSDCoRB which relate to :
Planning is preparation for future action. It relates to an activity which bridges the gap between the present and future. The planning functions starts after the broad organizational objectives are spelt out to decide the future course of action. Introduction to Management Book This is an all pervasive function and hence applies to all the levels of management. The functions includes setting objectives, strategies, policy formulation and the consequent laying down of the procedures and programs for the achievement of objectives. It is future oriented and determines the direction in which the organization is moving. This function involves the ability to foresee the effects of current action in the long run.
Organizing is related to the structure of an organization with clearly defined lines of authority and responsibility, through which the work is allotted, monitored and coordinated so that each division and department relate to each other to work together for the achievement of organizational objectives. It involves activities like delegation, fixing authority and responsibility for a smooth conduct of work.
Staffing relates to finding the right people for the right job in the given structure of the organization. Introduction to Management Book PDF Full Course, It starts with the design of the job, identifying the job, job analysis, thus, paving the way for the recruiting, selecting, placing the people initially and promoting them at later stage. It also includes the functions of developing the people through training for efficient and effective functioning of their assigned work.
This functions involves providing good leadership, communication channels, Motivation and supervision so that employees are able to function efficiently to attain the desired goals. It consists of the process and techniques which issues the required instruction and monitoring the operation for smooth functioning. The managers communicate and transmits the message for smooth flow of work. The organizational experience has enough evidence of miscommunication or improper communication leading to organizational failure across the world.
The function of control consists of those activities that are undertaken to influence that there is no deviation in the plan. The control process includes setting of the standards, performance target and measures along with corrective action that is taken at different stages of the control process. This function is always misunderstood and throws up a negative connotation of restricting people in their job. This function aims at checking whether organizational objectives are met and action that could be taken in future as the work is in progress.
What are the CHALLENGES OF MANAGEMENT
Management is a challenging field that involves many responsibilities and functions. Introduction to Management Book PDF Full Course Some of the common challenges of management include:
- Complex decision making: Managers are often faced with complex and difficult decisions that have a significant impact on the organization.
- Dealing with change: Management is constantly dealing with changes in the internal and external environment, such as changes in technology, market conditions, and customer needs.
- Balancing competing priorities: Managers must often balance competing priorities, such as meeting customer needs, controlling costs, and maximizing profits.
- Managing people: Managing people can be challenging, as managers must motivate and lead employees, manage conflicts, and deal with issues related to diversity and inclusion.
- Maintaining work-life balance: Managers often work long hours and face a lot of stress, which can make it difficult to maintain a healthy work-life balance.
- Managing risk: Managers must identify and manage risks that could potentially harm the organization.
- Adapting to new technology: Managers must continuously learn and adapt to new technologies and processes in order to stay competitive.
- Ethical decision making: Managers are often faced with ethical dilemmas, which can be challenging as they need to balance the interests of different stakeholders and make decisions that are fair and just.
- Globalization: managing a global business involves dealing with diverse cultures, languages, and time zones, which can create additional complexity and challenges.
- Managing remote teams: With the current trend of remote work, managers have to find new ways to communicate and collaborate with their team members that are not physically present in the office.
In summary, management is a challenging field that requires a wide range of skills and abilities. Managers must be able to adapt to change, make difficult decisions, and lead and motivate employees in order to achieve the goals and objectives of the organization.
In Introduction to Management Book PDF Full Course The impact of globalization has been quite significant on technology and the technological changes. Technology has revolutionized every sector, it both complicates things and creates new opportunities. The speed with which technological changes take place affect the communication patterns, information content and knowledge that gets generated, stored and can be retrieved for organizational use.
The world is a witness to the significant changes that has taken place in the technology front, with the hardware and software in relation to a computer or other consumables like keyboards, monitors, mouse, the CPU and other parts. Even in terms of music, we have come a long way from a tape recorder to an audio cassette to a CD to a stage where currently music is embedded in the mobile phone itself.
We also hear that Google search can be done in more than hundred languages. Technology is important to business because it serves as a market place, a means for manufacturing goods and services, a communication medium, a distribution channel, information service etc.
Technology provides access to a wide range of information, thus making the decision making function of the manager efficient and effective. In addition, we are all a witness to the design of new products in many sectors including banking and financial services. Today, technology helps in banking from anywhere for any banking services and products, be it be for account summary, investment summary, credit/ debit card services including ATM, to housing loan information, vehicle and personal loan services.
Introduction to Management SELF-ASSESSMENT QUESTIONS
Q1. What is management? Why is it important in the contemporary world?
Q2. Is management a science or an art? Substantiate your answer
Q3. Is administration and management the same? Why? Why not?
Q4. What are the characteristics of management?
Q5. What are the functions of management?
Introduction to Management Book PDF Full Course Management is defined variously by different authors. Managing organisations through people has been agreed by a majority of them. In practice, it is process of continually and consciously shaping organizations. All the organizations have people who are responsible for helping them achieve their goals.
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