NATURE AND SCOPE OF MANAGEMENT

• VIDEO DEFINITION AND CONCEPT OF MANAGEMENT
• NATURE AND SCOPE OF MANAGEMENT
  PRINCIPLES OF MANAGEMENT

 MEANING OF MANAGEMENT

1. THE WORD MANAGEMENT IS DERIVED FROM THE LATIN WORD MANUS WHICH MEANS HANDS
2. IT MEANS MANAGEMENT IS HANDLING SOME ACTIVITY
3. THE MODERN ASPECT OF MANAGEMENT IS EXHAUSTIVE THAT IS NOT HANDLING OF ANY ACTIVITIES BUT INCLUDES MANY OTHER ASPECTS
4. MANAGEMENT IS THE ATTAINMENT OF ORGANIZATIONAL GOALS IN EFFECTIVE AND EFFICIENT MANNER THROUGH PLANNING,ORGANIZING,STAFFING ,DIRECTING AND CONTROLLING ORGANIZATIONAL RESOURCES
5. ORGANIZATIONAL RESOURCES INCLUDE MEN,MONEY,MACHINES AND MATERIALS
6. HAROLD KOONTZ : MANAGEMENT IS THE ART OF GETTING THINGS DONE THROUGH AND WITH PEOPLE IN FORMALLY ORGANIZED GROUPS
7. HENRY FAYOL,”TO MANAGE.TO FORECAST AND PLAN TO ORGANIZE,TO COMMAND,TO COORDINATE AND TO CONTROL

• NATURE OR CHARACTERISTICS OF MANAGEMENT

1. MULTIDISCIPLINARY: - DRAWS KNOWLEDGE FROM PSYCHOLOGY.SOCIOLOGY, ECONOMICS, STATISTICS, AND OPERATION RESEARCH ETC. INTEGRATES IDEAS AND CONCEPTS FROM THESE DISCIPLINE AND USE THEM TO IMPROVE THE EFFICIENCY OF THE ORGANIZATION.
2. MANAGEMENT IS IN TANGIBLE:-UNSEEN FORCE, THE RESULTS OF WHICH CAN BE OBSERVED BY MAKING A C COMPARISON BETWEEN WELL MANAGED AND POORLY MANAGED.
3. NATURE OR CHARACTERISTICS OF MANAGEMENT
4. MANAGEMENT IS GROUP EFFORTS:- MANAGEMENT IS AN ORGANIZED GROUP  OF PEOPLE SETS ITS GOALS,MAKES PLANS AND POLICIES,EXECUTES THEM,COORDINATES ACTIVITIES AND CONTROLS ITS WORKING TOWARDS A COMMON GOALS
5. MANAGEMENT MAKES A REAL IMPACT ON HUMAN LIFE :-MANAGERS CAN ACHIEVE PROGRESS,BRING HOPE AND HELP GROUP MEMBERS TO ACQUIRE BETTER THINGS IN LIFE
6. MANAGEMENT IS GOAL ORIENTED: THEO HAIMANN: EFFECTIVE MANAGEMENT IS ALWAYS MANAGEMENT BY OBJECTIVES. IT IS CONCERNED WITH THE ESTABLISHMENT AND ACCOMPLISHMENT OF OBJECTIVES
7. MANAGEMENT MAKES THINGS HAPPEN:-MANAGEMENT FOCUS THEIR EFFORTS ON BRINGING ABOUT A SUCCESSFUL ACTION. MAKES THINGS HAPPEN IN SYSTEMATIC MANNER FOR ACHIEVING THE THINGS.
8. MANAGEMENT IS UNIVERSAL IN CHARACTER :-UNIVERSAL APPLICATION AND CAN BE APPLIED IN ALL THE ORGANIZATION
9. MANAGEMENT IS A SOCIAL PROCESS: MANAGEMENT CONSISTS OF GETTING THINGS DONE THROUGH OTHERS.DEALING WITH PEOPLE AND THE EFFORTS OF THE HUMAN BEINGS HAVE TO BE DIRECTED, COORDINATED AND REGULATED BY MANAGEMENT IN ORDER TO ACHIEVE THE DESIRED RESULTS.
10. MANAGEMENT IS A SYSTEM OF AUTHORITY:-MANAGEMENT IS RULE MAKING AND RULE ENFORCING AUTHORITY , THERE IS A CHAIN OF AUTHORITY AND RESPONSIBILITY AMONG PEOPLE WORKING AT DIFFERENT LEVEL OF THE ORGANIZATION
11. MANAGEMENT IS DYNAMIC FUNCTION”DYNAMIC FUNCTION AS IT IS EVER CHANGING DISCIPLINE OF KNOWLEDGE.
12. MANAGEMENT IS AN ART AS WELL AS SCIENCE: MANAGEMENT IS BOTH SCIENCE AND ART. SCIENCE DOE S NOT MEANS EXACT SCIENCE LIKE PHYSICAL SCIENCE AND IT IS SCIENCE BECAUSE IT HAS DEVELOPED CERTAIN PRINCIPLES WHICH ARE UNIVERSAL APPLICATION BUT THE RESULT DEPEND UPON THE APPLICATION
13. MANAGEMENT IS GLOBAL PHENOMENON:
14. MANAGEMENT AS PROFESSION: RECOGNISED AS PROFESSION. SYSTEMATIC AND SPECIALIZED BODY OF KNOWLEDGE CONSISTING OF PRINCIPLES,TECHNIQUES AND LAW

• IS MANGEMENT AN ART OR SCIENCE
• MANAGEMENT AS AN ART :
• ART IS REGARDED AS THE SYSTEMATIC APPLICATION OF SKILL OR KNOWLEDGE IN EFFECTING ACCOMPLISHMENT OF RESULTS
• REPRESENTS THE METHODS OR WAYS OF DOING SPECIFIC THINGS AND INDICATES HOW AN OBJECTIVES IS TO BE ACHIEVED. THE FUNCTION OF ART IS TO EFFECT CHANGE AND ACCOMPLISH RESULTS THROUGH DELIBERATE EFFORTS
• MANAGEMENT AS AN ART
• IT IS PRACTICE BASED AND PERFECTION IN IT REQUIRES CONTINUOUS PRACTICE
• THE MAIN ELEMENTS OF ART :

1. PERSONAL SKILL
2. PRACTICAL KNOWLEDGE
3. RESULT ORIENTED APPROACH
4. REGULAR PRACTICE
5. CREATIVITY

• MANAGEMENT AS AN ART

1. MANAGEMENT IS AN ART OF DEALING WITH PEOPLE TO ACCOMPLISH DESIRED RESULTS
2. CONCERNED WITH APPLICATION OF KNOWLEDGE AND SKILLS
3. RESULT ORIENTED
4. MANAGEMENT IS ONE OF THE MOST CREATIVE ART AS IT IS CONCERNED WITH GETTING WORK DONE THROUGH OTHER BY MOTIVATING THEM TO WORK AND COORDINATING THEIR ACTIVITIES

• MANAGEMENT AS SCIENCE
• IT IS A SYSTEMATIZED BODY OF KNOWLEDGE ACQUIRED BY THE MANKIND THROUGH OBSERVATION AND EXPERIMENTATION WHICH IS CAPABLE OF VERIFICATION
• ART IMPLIES KNOWING HOW THE APPLICATION WHERE AS SCIENCE IS CONCERNED WITH WHY?
• KEYNES,” SCIENCE IS A SYSTEMATIZED BODY OF KNOWLEDGE WHICH ESTABLISHES RELATIONSHIP BETWEEN CAUSE AND EFFECT
• MANAGEMENT AS SCIENCE

1. SYSTEMATIZED BODY OF KNOWLEDGE:ORGANIZED BODY OF KNOWLEDGE, FW TAYLOR THE FATHER OF SCIENTIFIC MANAGEMENT APPLIED SCIENTIFIC TECHNIQUES TO STUDIES OF PLANNING ,ORGANIZING,STAFFING AND MOTIVATING
2. CONTINUED OBSERVATION:
3. UNIVERSAL APPLICATION
4. CAUSE AND EFFECT RELATIONSHIP
5. VALIDITY AND PRACTICABILITY:

• MANAGEMENT AS AN EXACT SCIENCE OR A SOCIAL SCIENCE
• PURE SCIENCE SUFFERS FROM THE FOLLOWING LIMITATION

1. DOES NOT CONSISTS OF FUNDAMENTAL TRUTHS ONLY
2. DO NOT HAVE UNIVERSAL APPLICATION
3. BEHAVIOUR OF HUMAN BEINGS CAN NOT BE PREDICTED
4. MANAGEMENT LACKS CERTAINTY ABOUT RESULT

·         CONCLUSION: BOTH SCIENCE AND ART

• MGMT AS A PROFESSION
• REFERS TO ECONOMIC ACTIVITY WHICH IS CONDUCTED BY A PERSON HAVING SOME SPECIAL KNOWLEDGE AND SKILL WHICH IS USED IMPARTIALLY TO SERVE VARIOUS SECTIONS OF THE SOCIETY.

1. WELL DEFINED BODY OF KNOWLEDGE
2. RESTRICTED ENTRY
3. PROFESSIONAL ASSOCIATIONS :- BAR COUNCIL OF INDIA FOR LAWYERS,MEDICAL COUNCIL OF INDIA FOR DOCTORS,INSTITUTE OF CHARTERED ACCOUNTANT AND ALL INDIA MGMT ASSOCIATIONS.
4. ETHICAL CODE OF CONDUCT
5. SERVICE MOTIVE

• SCOPE OR BRANCHES OF THE MANAGEMENT

1. PLANNING
2. ORGANIZATION
3. STAFFING
4. DIRECTING
5. CONTROLLING

• OPERATIONAL ASPECT OF BUSINESS ( BRANCHES OF THE MANAGEMENT

1. PRODUCTION MANAGEMENT
2. MARKETING MANAGEMENT
3. FINANCIAL MGMT
4. PERSONNEL MGMT
5. OFFICE MGMT

• FUNCTIONS OF MGMT
• PLANNING

1. SETTING OF OBJECTIVES
2. DEVELOPING PREMISES
3. IDENTIFICATION OF ALTERNATIVE COURSE OF ACTION
4. SELECTING AN ALTERNATIVE
5. EVALUATING ALTERNATIVES
6. IMPLEMENTING THE PLAN
7. FOLLOW UP ACTION

• ORGANIZING

1. COORDINATION OF VARIOUS PARTS TO ACHIEVE A COMMON OBJECTIVE
2. STRUCTURE OF ROLES
3. ORGANIZATION IS DIVIDED INTO DIFFERENT ACTIVITIES

• STAFFING

1. ESTIMATING MAN POWER REQUIREMENT
2. RECRUITMENT
3. SELECTION
4. PLACEMENT AND ORIENTATION
5. TRAINING AND DEVELOPMENT
6. PERFORMANCE APPRISALS
7. PROMOTION
8. COMPENSATION

• DIRECTING

1. INSTRUCTING,GUIDING,COMMUNICATION AND INSPIRING IN THE ORGANIZATION
2. SUPERVISION
3. COMMUNICATION
4. LEADERSHIP
5. MOTIVATION

• CONTROLLING

1. SETTING PERFORMANCE STANDARDS
2. MEASUREMENT OF ACTUAL PERFORMANCE
3. COMPARISON
4. ANALYZING DEVIATIONS
5. TAKING CORRECTIVE DEVIATIONS

• BRANCHES OF MANAGMENT
• PRODUCTION MANAGEMENT :-

1. CREATION OF UTILITIES
2. WHEN RAW MATERIAL ARE CONVERTED INTO FINISHED PRODUCTS. PLANT LOCATION,PLANT LAYOUT,PRODUCTION PLANNING AND CONTROL AND MGMT OF INVENTORY

1. ·    MARKETING MANAGEMENT:-+PROCESS OF IDENTIFYING AND ASSESSING THE CUSTOMER NEEDS AND PROVIDING SATISFACTION AND DELIGHT TO THEM. COVERS MARKET ANALYSIS,MARKETING POLICY,BRAND NAME,PRICING,CHANNELS OF DISTRIBUTION,SALES PROMOTION,SALES MIX,AFTER SALES SERVICE ETC
   • FINANCIAL MANAGEMENT :PERTAINING TO THE PROCUREMENT AND UTILIZATION OF FUNDS THE MAIN FUNCTIONS :
   1. ESTIMATION OF CAPITAL REQUIREMENTS
   2. SUFFICIENT RETURN TO THE INVESTOR
   3. DETERMINATION OF THE SUITABLE SOURCE OF FUNDS
   4. OPTIMUM CAPITAL STRUCTURE
   5. APPROPRIATE DIVIDEND POLICY
   
   
   • PERSONNEL MANAGEMENT :-PROCUREMENT OF RIGHT KIND AND NUMBER OF PERSONS,PROVIDING TRAINING AND DEVELOPMENT AND DETERMINATION OF THE REMUNERATION AND INTEGRATION OF THE PERSONNEL WITH ORGANIZATION
   • OFFICE MANAGEMENT :-OFFICE MANAGEMENT IS THE TECHNIQUE OF PLANNING COORDINATION CONTROLLING OFFICE ACTIVITIES WITH A VIEW TO ACHIEVE COMMON BUSINESS OBJECTIVES
   
   

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