Lecture- I

Principles of Management

Renjith R

Electronics & Instrumentation

FISAT

August 7, 2018
 Introduction to Management

Management is the attainment of organizational

goals in an effective and efficient manner through
planning, organizing, staffing, directing and
controlling organizational resources.

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 Course Objectives

To develop ability to critically analyse and evaluate a variety of

management practices in the contemporary context;
To understand and apply a variety of management and organisational
theories in practice;
To be able to mirror existing practices or to generate their own
innovative management competencies, required for today’s complex
and global workplace;
To be able to critically reflect on ethical theories and social
responsibility ideologies to create sustainable organisations

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 Syllabus

Definition, roles and functions of a manager, management and its science

and art perspectives, management challenges and the concepts like,
competitive advantage, entrepreneurship and innovation. Early
contributors and their contributions to the field of management .
Corporate Social Responsibility. Planning, Organizing, Staffing and HRD
functions, Leading and Controlling . Decision making under certainty,
uncertainty and risk, creative process and innovation involved in decision
making.

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 Expected outcome

A student who has undergone this course would be able to

1 manage people and organisations
2 critically analyse and evaluate management theories and practices
3 plan and make decisions for organisations
4 do staffing and related HRD functions

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 Text Book
Main
Harold Koontz and Heinz Weihrich, Essentials of Management , McGraw
Hill Companies , 10th Edition.
References
Daft, New era Management , 11th Edition, Cengage Learning
Griffin, Management Principles and Applications , 10th Edition,
Cengage Learning
Heinz Weirich, Mark V Cannice and Harold Koontz, Management: a
Global, Innovative and Entrepreneurial Perspective , McGraw Hill
Education, 14th Edition
Peter F Drucker, The Practice of Management , McGraw Hill, New
York
Robbins and Coulter, Management , 13th Edition, 2016, Pearson
Education
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 Definition of Management

Management is the process of designing and maintaining an

environment in which individuals working together in groups,
efficiently accomplish selected aims
As managers, people carry out the managerial functions of planning,
organizing, staffing, leading, and controlling
Management applies to any kind of organizations
it applies to all kind of managers at all organizational levels.
Managing is concerned with productivity, which implies effectiveness
and efficiency.

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 Figure: RATAN TATA

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 The Functions of Management

What can managers do to be effective and efficient?

Figure: functions-of-management

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 Planning

Planning is specifying the goals to be achieved and deciding in

advance the appropriate actions taken to achieve those goals.
Planning activities include analyzing current situations, Leading
anticipating the future, determining objectives, deciding what types of
activities the company will engage in, choosing corporate and business
strategies, and determining the resources needed to achieve the
organization’s goals.
The outcome of the planning process is the organization’s strategy

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 Organizing

Organizing is assembling and coordinating the human, financial,

physical, informational, and other resources needed to achieve goals.
Activities include attracting people to the organization, specifying job
responsibilities, grouping jobs into work units, allocating resources,
and creating conditions so that people and things work together to
achieve maximum success.
The outcome of organizing is an organizational structure

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 leading

Leading is stimulating people to be high performers. It is directing,

motivating, and communicating with employees, individually and in
groups.
Leading involves close day-to-day contact with people, helping to
guide and inspire them toward achieving team and organizational
goals.
Leading takes place in teams, departments, divisions, and at the tops
of entire organization.
The outcome of leading is a high level of motivation and commitment.

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 Controlling

The fourth functional controlling, monitors progress and implements

necessary changes.
When managers implement their plans, they often find that things are
not working out as planned.
The controlling function makes sure that goals are met. It asks and
answers the question, "Are our actual outcomes consistent with our
goals?"
It makes adjustments as needed.
The outcome of controlling is an accurate
measurement of performance and regulation of efficiency and
effectiveness

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 Managerial roles and functions ;Science or Art
perspectives
1 The person in a managerial role may be directing people in the sales,
engineering, or finance department.
2 As managers, all obtain results by establishing an environment for
effective group endeavor. All managers carry out managerial
functions.
3 The time spent for each function may differ. Figure 1.1 shows an
approximation of the relative time spent for each function.

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 Managerial Skills & Organizational Hierarchy

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 Productivity, Effectiveness & Efficiency

1 Productivity
There is no complete agreement on the true meaning of productivity,
It is define as the output—input ratio within a time period with due
consideration for quality. It can be expressed as follows:
Outputs
Productivity = ∗ (with in a time period, quality considered) (
Inputs
Companies use several kinds of inputs, such as labor, materials, and
capital. Total-factor productivity combines various inputs to arrive at
a composite input.
2 Effectiveness is the achievement of objectives. Efficiency is the
achievement of the ends with the least amount of resources.

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 Evolution of Management Thoughts

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 External environment

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 Global, innovative and entrepreneurial perspectives of
Management

content...

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