Functions of ManagementCopyright © 2008 - 2012 managementstudyguide.com. All rights reserved.

Functions of ManagementExample textGo ahead and replace it with your own text. This is an example text. Your own footerYour LogoLearning ObjectivesCopyright © 2008 - 2012 managementstudyguide.com. All rights reserved.

What is Management?Learning ObjectivesDefine ManagementNature of ManagementManagement Science or ArtManagement as a ProfessionFunctions of ManagementCopyright © 2008 - 2012 managementstudyguide.com. All rights reserved.

Management is the art of getting things done through others.Defining ManagementWhat is Management?"Art of knowing what you want to do and then seeing that it is done the best and cheapest way". F.W.Taylor Management is the art of getting things done through others.Copyright © 2008 - 2012 managementstudyguide.com. All rights reserved.

Management is the art of getting things done through others.What is Management?Nature of ManagementUniversal ProcessPurposefulGroup PhenomenonCreativeMultidisciplinarySocial ProcessContinuous ProcessIntangibleCopyright © 2008 - 2012 managementstudyguide.com. All rights reserved.

Management is the art of getting things done through others.What is Management?Is Management a Science / Art TextManagement as an Art Practical know how Technical skills Concrete results Creativity Personalized natureManagement as Science Empirically derived Critically tested General principles Cause & effect relationship Universal applicabilityManagement as a science provides principles and as an art helps in tackling situationsCopyright © 2008 - 2012 managementstudyguide.com. All rights reserved.

Management is the art of getting things done through others.What is Management?Is Management a ProfessionWhat Qualifies a Profession? Existence of an organized and systematic body of knowledge Formalized method of acquiring knowledge & skills Existence of an apex level body with professionalization as its goal Existence of an ethical code to regulate the behavior of the members of the profession Charging of fees based on service A concern for social responsibilitiesManagement as a Profession There is a systematic & organized body of Knowledge Competent education & training facilities do not exist. No minimum qualification for managers. MBAs may be preferred but not always. Managers are known by their performance and not mere degrees. The AIMA has prescribed a code of conduct for managers but it can not take legal action against any manager who violates it. Management Consultants do charge a fee for their services. The ultimate goal of business is to maximize profit and not social welfare. Management fulfills many essentials of a profession, however, it is not a full fledged ProfessionCopyright © 2008 - 2012 managementstudyguide.com. All rights reserved.

PlanningStaffingControllingOrganizingDirectingFunctions of ManagementCopyright © 2008 - 2012 managementstudyguide.com. All rights reserved.

Functions of ManagementExample textGo ahead and replace it with your own text. This is an example text. Your own footerYour LogoLearning ObjectivesCopyright © 2008 - 2012 managementstudyguide.com. All rights reserved.

Planning as Function of ManagementLearning ObjectivesWhat is a Plan?Define Goals, Objectives, Strategy, Mission, and VisionExamples of Vision & Mission statementsSteps in Planning ProcessImportance of PlanningChallenges while PlanningCharacteristics of an Effective Plan Copyright © 2008 - 2012 managementstudyguide.com. All rights reserved.

Planning as Function of ManagementCopyright © 2008 - 2012 managementstudyguide.com. All rights reserved.

ObjectivesGoalsStrategyMissionVisionObjectivesConcrete attainments that can be achieved by following a certain number of steps.GoalsLong term aims that a company / individual wants to achieve.Strategy Course of action created to achieve a long term goal. MissionStatement of the basic purpose for a company's existence & its values [role towards customers, employees, society, etc.].VisionClarifies long term direction of a company [where the company is going] & reflects management’s aspirations for the company.Planning as Function of ManagementCopyright © 2008 - 2012 managementstudyguide.com. All rights reserved.

Mission Statement"Facebook's mission is to give people the power to share and make the world more open and connected."Mission"To lead in corporate citizenship through proactive programs that reflect caring for the world family of Nike, our teammates, our consumers, and those who provide services to Nike”.Vision "To bring inspiration and innovation to every athlete*in the world”* If you have a body, you are an athlete. Mission"Our Goal is to be the Worldwide Authority on Kids, Families and Fun."Vision"Our Vision is to put joy in kids’ hearts and a smile on parents’ faces."Planning as Function of ManagementExamples of Vision & Mission StatementsCopyright © 2008 - 2012 managementstudyguide.com. All rights reserved.

Formulation of derivative plans3Choice of alternative course of action2Establishment of Planning Premises1Establishment of Objectives6Follow-up / appraisal of plans5Securing co-operation4Planning as Function of ManagementSteps in Planning ProcessCopyright © 2008 - 2012 managementstudyguide.com. All rights reserved.

Provides DirectionPlanning bridges the gap between where we are & where we want to beBUSINESS NETWORKMinimizes impulsive & arbitrary decisionsReduces UncertaintiesResource AllocationPlanning as Function of ManagementImportance of Planning – Why Plan?Copyright © 2008 - 2012 managementstudyguide.com. All rights reserved.

Planning as Function of ManagementChallenges while PlanningDifficulty in accurate PremisingTime & Cost factorsExternal InflexibilitiesInternal InflexibilitiesProblems of Rapid ChangePsychologicalPolicy & ProceduralPolitical ClimatePolicy & ProceduralCopyright © 2008 - 2012 managementstudyguide.com. All rights reserved.

Plans must be action orientedWhile plans must be consistent, they should be flexible enough to meet the demands of the dynamic environment.Plans must not be changed unless necessary. Deviations must be tracked and controlled.Direction For ActionFlexibleConsistentAn effective plan must be simple so that it can be easily understood and followed.Simple & FeasibleLinked to Long Term ObjectivesAn effective plan is always based on the long term goals of an organization.Planning as Function of ManagementCharacteristics of an Effective PlanCopyright © 2008 - 2012 managementstudyguide.com. All rights reserved.

Functions of ManagementExample textGo ahead and replace it with your own text. This is an example text. Your own footerYour LogoLearning ObjectivesCopyright © 2008 - 2012 managementstudyguide.com. All rights reserved.

Organizing as a Function of ManagementLearning ObjectivesWhat is OrganizingSteps of Organizing Benefits of OrganizingNature of OrganizingComponents of OrganizingCopyright © 2008 - 2012 managementstudyguide.com. All rights reserved.

Organizing as a Function of ManagementWhat is Organizing?Organizing involves: Identification and classification of the required activities Grouping of activities necessary to attain objectives Assignment of each grouping to a manager with authority and the provision of coordinationCopyright © 2008 - 2012 managementstudyguide.com. All rights reserved.

Management is the art of getting things done through others.Organizing as a Function of ManagementNature of OrganizingDifferentiated FunctionsPurposefulDivision of Work & SpecializationComposition of Individuals & GroupsContinuityOrientation Towards GoalsIntangibleCopyright © 2008 - 2012 managementstudyguide.com. All rights reserved.

Organizing as a Function of ManagementComponents of OrganizingSpan of ControlDepartmentationDivision of LabourDelegation of AuthorityDivision of LabourAssigning responsibility for each activity to an individual / group. It becomes Specialization when the responsibility for a specific task lies with a designated expert in that field.Delegation of AuthorityProcess managers use delegation to transfer authority to positions below them. Organizations today tend to encourage delegation from highest to lowest possible levels. It improves flexibility.DepartmentationIt is the basis on which individuals are grouped into departments and departments into total organizations.Span of ControlIt refers to the number of subordinates a supervisor has.Factors that affect span of control are Geographical Location, Capability of workers, and Similarity of taskCopyright © 2008 - 2012 managementstudyguide.com. All rights reserved.

Building relationship between authority and responsibility3Classification of the authority2Organizinzing the activities1Identificatio of activities of the organization4Organizing as Function of ManagementSteps in Organizing ProcessCopyright © 2008 - 2012 managementstudyguide.com. All rights reserved.

Helps to achieve organizational goalsBUSINESS NETWORKFacilitates Growth & DiversificationOptimum utilization of ResourcesPlanning, Staffing, Directing and Controlling cannot be implemented without proper organizationOrganizing as Function of ManagementBenefits of OrganizingCopyright © 2008 - 2012 managementstudyguide.com. All rights reserved.

Functions of ManagementExample textGo ahead and replace it with your own text. This is an example text. Your own footerYour LogoLearning ObjectivesCopyright © 2008 - 2012 managementstudyguide.com. All rights reserved.

Staffing as a Function of ManagementLearning ObjectivesWhat is StaffingComponents of StaffingSteps in Staffing How to ensure Successful StaffingCopyright © 2008 - 2012 managementstudyguide.com. All rights reserved.

Staffing as Function of ManagementWhat is StaffingStaffing involves manning the organizational structure through proper and effective appraisal, selection and development of people to fill the roles designed into the structure.Staffing is also known as Human Resource Management. It is the management function devoted to acquiring, training, appraising, and compensating employees.Copyright © 2008 - 2012 managementstudyguide.com. All rights reserved.

Staffing as Function of ManagementComponents of Staffing1. Strategic HR Planning2. Recruitment3. SelectionStrategic HR planning is a process that identifies current and future HR needs for an organization to achieve its goals. It should serve as a link between HR management and the overall strategic plan of an organization. Recruitment refers to the process of attracting, screening, and selecting qualified people for a job. Companies recruits through employment agencies, recruitment websites, job search engines, "headhunters" for executive & professional recruitment, and niche agencies which specialize in a particular area of staffing. Employee Selection is the process of putting right men on right job. It is a procedure of matching organizational requirements with the skills and qualifications of people. Copyright © 2008 - 2012 managementstudyguide.com. All rights reserved.

7Performance AppraisalOrientation & Placement3Selection2Recruitment1Identifying manpower requirements6Compensation5Training & Development4Staffing as Function of ManagementSteps in Staffing ProcessCopyright © 2008 - 2012 managementstudyguide.com. All rights reserved.

Management is the art of getting things done through others.Simple & Clear Job descriptionDiscipline with due processRecruiting the right personCommunicating Employer’s expectationsCommend with ConsistencyRegular Performance appraisalStaffing as Function of ManagementHow to ensure successful Staffing?Copyright © 2008 - 2012 managementstudyguide.com. All rights reserved.

Functions of ManagementExample textGo ahead and replace it with your own text. This is an example text. Your own footerYour LogoLearning ObjectivesCopyright © 2008 - 2012 managementstudyguide.com. All rights reserved.

Directing as a Function of ManagementLearning ObjectivesWhat is DirectingComponents of DirectingSteps in DirectingBenefits of DirectingCopyright © 2008 - 2012 managementstudyguide.com. All rights reserved.

Directing as a Function of ManagementWhat is Directing?Directing is a process in which the managers instruct, guide, & oversee the performance of the workers to achieve predetermined goals. Directing is said to be the heart of management process. It involves: telling people what is to be done & how to do it; issuing instructions & orders to subordinates to carry out their assignments as scheduled supervising their activities; inspiring them to contribute towards the achievement of organizational objectives; and providing leadership.Copyright © 2008 - 2012 managementstudyguide.com. All rights reserved.

Directing as a Function of ManagementComponents of DirectingCommunicationLeadershipSupervisionMotivationSupervisionSupervision is directing efforts of employees and other resources to accomplish stated work outputs.MotivationMotivation is something that moves the person to action, and continues him in the course of action already initiated / about to be initiated.LeadershipLeadership is essentially a continuous process of influencing behaviour. A leader breathes life into the group and motivates it towards goals. The lukewarm desires for achievement are transformed into burning passion for accomplishmentCommunicationCommunication is the transfer of information from one person to another by transmitting ideas, facts, thoughts, feelings & values. In its absence, organisation would cease to exist.Copyright © 2008 - 2012 managementstudyguide.com. All rights reserved.

Communication & motivation3Guiding the employees through effective leadership2Decision Making1Supervising Employees4Directing as Function of ManagementSteps in Directing ProcessCopyright © 2008 - 2012 managementstudyguide.com. All rights reserved.

Initiates action to get desired resultsBUSINESS NETWORKHelps accepting & adapting changesAttempts to get maximum out of employeesHelps achieving organizational goals through effective supervision, motivation, leadership, & communicationDirecting as Function of ManagementBenefits of DirectingCopyright © 2008 - 2012 managementstudyguide.com. All rights reserved.

Functions of ManagementExample textGo ahead and replace it with your own text. This is an example text. Your own footerYour LogoLearning ObjectivesCopyright © 2008 - 2012 managementstudyguide.com. All rights reserved.

Controlling as a Function of ManagementLearning ObjectivesWhat is ControllingCharacteristics of ControllingSteps in ControllingCopyright © 2008 - 2012 managementstudyguide.com. All rights reserved.

Controlling as a Function of ManagementWhat is Controlling?Controlling is the measurement and correction of performance in order to ensure that an organization’s objectives and plans are accomplished.Controlling is a function of every manager both at lower and upper level since all have responsibility for the execution of plans.Copyright © 2008 - 2012 managementstudyguide.com. All rights reserved.

Management is the art of getting things done through others.Continuous ProcessLinked withPlanningManagementProcessForward LookingTool for achievingOrganizational activitiesPervasiveControlling as Function of ManagementCharacteristics of ControllingCopyright © 2008 - 2012 managementstudyguide.com. All rights reserved.

Identifying & communicating deviations3Comparing actual performance with standard performance2Fixation of Standards1Establishment of Standards5Helping employees correct deviations4Controlling as Function of ManagementSteps in Controlling ProcessCopyright © 2008 - 2012 managementstudyguide.com. All rights reserved.

Functions of ManagementExample textGo ahead and replace it with your own text. This is an example text. Your own footerYour LogoLearning ObjectivesCopyright © 2008 - 2012 managementstudyguide.com. All rights reserved.

FIVE FUNCTIONS OF MANAGEMENTSummaryCopyright © 2008 - 2012 managementstudyguide.com. All rights reserved.

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