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Management: Definitions, Roles & Skills Principles of Management
Management:  Definitions ,[object Object],[object Object]
Management : Definition …ctd. ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Additionally, Managers need to factor in  external environment al  forces: For maximum benefit to the organization Management : Definition …ctd. Organization Economic Political Regulatory Societal Technological Globalization
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Management : Roles & Skills
Management : roles & skills …ctd. Managerial Roles ( Mintzberg) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Managerial Skills( Katz & others) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Skills Needed Management : roles & skills Board  Exec. Mgr.  Supr. HUMAN Conceptual Technical
Evolution of Management ,[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object],Evolution of Management …ctd
[object Object],[object Object],[object Object],[object Object],Evolution of Management …ctd
[object Object],[object Object],[object Object],[object Object],Evolution of Management …ctd
[object Object],[object Object],[object Object],[object Object],[object Object],Evolution of Management …ctd
Evolution of Management …ctd ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Principles of Management 2 Management: A Systems Approach
Systems approach to Management Organization as a System  receives Input, transforms it through a Process  for  Output and Operates in an Environment  ( economic, regulatory and other forces ) Transformation process input output Feedback (Reenergizing the system) ENVIRONMENT System Boundary
Systems approach to Management  …ctd.   Systems Concepts ,[object Object],[object Object],[object Object],[object Object],[object Object],Sub-System 2 Sub-System 3 Sub-System 1
Systems approach to Management  …ctd.   Outputs and Inputs ,[object Object],[object Object],[object Object],System Environment ,[object Object],[object Object]
Systems approach to Management  …ctd.   “ Inputs”: 5 Ms of Management ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Systems approach to Management  …ctd.   ,[object Object],[object Object],[object Object],[object Object],[object Object],Output for “Stake-holders” in Business:
Systems approach to Management  …ctd.   ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Output for “Stake-holders” in Business …ctd.
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Systems approach to Management  …ctd.   Management as a system transforms inputs:
Inputs (Goal  Oriented) Outputs (External To Orgnzn.) Planning Organizing Staffing Leading Controlling Product/Services, Profits,   Customer  &  Societal  satisfaction, Other Long-term  Goals Man, Machine Material, M ethod, Measurement Stake holder  Feedback (reenergizing the system) EXTERNAL ENVIRONMENT (Opportunities, Constraints) Stakeholders Shareholders; Society; Customers; Employees; Suppliers Systems approach to Management  …ctd.
Principles of Management 3 Management Process First Step: Planning
Planning ,[object Object],[object Object],[object Object],[object Object]
Plans as foundation of Management The primacy of Planning Plans What kind of resources needed? What kind of people  & org. structure  to have? How to lead them  to reach planned  goals? How to control in case of deviation from plan ?
Types of Plans ,[object Object],[object Object],Case in point:   Mission  of Indira Institute “ To train our students to become the best business minds and entrepreneurs today, who will lead their companies successfully into the future tomorrow , locally, nationally and globally.”
Type of Plans (Cont’d) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Types of Plans (cont’d) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Types of Plans (cont’d) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Types of Plans (cont’d) ,[object Object],[object Object],[object Object],[object Object],[object Object]
Types of Plans (cont’d) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Steps in Planning Being aware of  challenges  Market, Customer’s wants, Competition, Own strengths & weakness  Setting Goals/ Objectives What to accomplish & when Planning premises Internal & external Environment/conditions  Identifying alternatives Comparing & choosing an alternative Decision making Budgeting (Numberizing Plans) e.g., Sales budget Operational Expense budget, Capital expenditure budget Formulating  Supporting plans e.g., plan to buy Equipment, recruit & train Employees, develop product etc
The Planning Process ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Steps in Planning Being aware of Opportunity Considering, Market, Competition, Customer’s wants, Own strengths &weakness  Setting Goals/ Objectives What to accomplish & when Objective = Important end towards which activities are directed;  therefore needs verification  at the end of the plan period.
Hierarchy of Objectives& Org. Levels Objectives set end results – they need to be supported by a hierarchy of sub-objectives, duly networked through the organization to avoid discord and wasted effort. Mission Overall  Objectives & Key result areas. Divisional objectives Departmental  objectives Individual objectives Board of Directors CEO Division Head Product X Division Head Product Y Sales & Mktg Dept Production Dept Sales Manager A Sales Manager B
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Hierarchy of Objectives& Org. Levels …ctd.
Hierarchy of Objectives& Org. Levels …ctd. While setting Objectives, ideally, Top Management should get information / ‘buy-in’ from lower levels to set realistic goals for a good result. Mission Overall  Objectives & Key result areas. Divisional objectives Departmental  objectives Individual objectives Top-down Approach Bottom-up Response: The result
Key Result Areas (KRA) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Management By Objectives (MBO) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
MBO (cont’d) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Guidelines for setting  Objectives ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Guidelines for setting Objectives (Cont’d) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Benefits of MBO ,[object Object],[object Object],[object Object],[object Object],[object Object]
Weaknesses of MBO  ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Planning Premises & Strategies Setting Goals/ Objectives What to accomplish & when Planning premises Internal & external environment Identifying alternatives Comparing & choosing an alternative Decision making Strategic Planning Process Strategy   = determination of the purpose / the basic long-term  objectives; the adoption of courses of action and  allocation of resources required to achieve the aims.
Planning Premises & Strategies  …ctd. The Strategic Planning Process Stakeholder Wishes & Shareholder demands Management Orientation Enterprise Profile Purpose & Major objectives of enterprise Current External situation Current resource situation Forecast External situation External Opportunity & Threat Internal Strengths & Weakness Key success factors &  Alternative Strategies Strategic choice
Planning Premises Porter’s Five Forces : an  Model for analysis of the Externals environment.
Planning Premises: forecast of demand ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Generic Strategy  Ultimate competitive position: -  position w.r.t major Customers - K.S.Fs of  Competitors - leveraging of suppliers  ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Relationship B’marking Partnering Company Customer Competitor  Supplier  Lean Management
Generic Strategy: BCG Matrix Red: Marketing Perspective ; Blue: Financial Perspective Cash Source Cash Use Hi Hi Lo Lo Market Growth rate Relative Market Share Hi Hi Lo Lo STAR “ Hold”  ???  “ Build”  Cash Cow “ Harvest”  DOGS “ Divest”
Planning Premises & Strategies  …ctd. Decision Making = is the core of the planning process; a plan does not come into being unless a ‘decision’ i.e. certain commitments of resources, managerial time and money are made and risks are taken. Caution: A “Plan” is not intentions and should not suffer from “ Analysis Paralysis”.   Comparing & choosing an alternative Decision making Budgeting ( Numberizing Plans) Say, Sales budget Operational Expense budget, Capital expenditure budget Formulating  Supporting plans Say, plan to buy Equipment, recruit & train Employees, develop product etc Deployment (MBO etc.)
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Decision Making
Decision Making…ctd. How to select Amongst the  Alternatives ? “ Experience”:  good teacher and useful when routine/repeat situations arise under similar  circumstances. Without due analysis of the conditions, mistakes tend to repeat or a poor fit results. “ Research & analysis”:  the approach is in at first understanding the problem (‘half the solution’!), then finding relations between various factors which hinder or foster goal attainment. This is a structured, analytical approach quantitative or otherwise. “ Experimentation”:  arguably, the best technique to use, particularly when either experience or  rationale is lacking/limited. However is expensive and ‘success/failures’ are magnified, results are subject to interpretational errors.
Decision Making…ctd. ,[object Object],[object Object],[object Object]
Decision Making…ctd. ,[object Object],[object Object],[object Object]
Principles of Management 4 Management Process: Organizing for results
Nature of Organizing ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Nature of Organizing …ctd. The Business Organization   Model: “Value Chain”  (Porter,1985) The margin reflects the reward for the risks run by the company. All activities together need to generate ‘value’ greater than the sum of its costs.  Margin  Margin Firm Infrastructure Human Resource Management Technology Development  Procurement  Inbound  Logistics  Operations  Outbound  Logistics  Marketing & Sales Service  Support Activities Primary Activities
Nature of Organizing …ctd. ,[object Object],[object Object],[object Object],[object Object],[object Object],The Value Chain: “Primary Activities”
Nature of Organizing …ctd. ,[object Object],[object Object],[object Object],[object Object],The Value Chain: “Support Activities”
[object Object],[object Object],[object Object],[object Object],[object Object],Nature of Organizing …ctd.
Nature of Organizing …ctd. The building block of an organization is the  Department : a group charged  with independent task & responsibility. # Hierarchical levels Span of control # # # # # Office Bridge Team $ $ $ $ Car pool
[object Object],[object Object],[object Object],[object Object],Nature of Organizing …ctd. “Departmentation”
[object Object],[object Object],[object Object],[object Object],“ Departmentation” …ctd.
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],“ Departmentation” …ctd.
C.E.O Finance Qual. HRM  BU 1  BU 2  I.R.M Recr.  T&D G/H.R Plant 1 G/H.R Ind. Sin. I.S.O “ Departmentation” …ctd. Example of “Grid Control” & S.B.U’s
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Nature of Organizing …ctd. Span-of-Management
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Span-of-Management …ctd.

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Principles Of Management

  • 1. Management: Definitions, Roles & Skills Principles of Management
  • 2.
  • 3.
  • 4. Additionally, Managers need to factor in external environment al forces: For maximum benefit to the organization Management : Definition …ctd. Organization Economic Political Regulatory Societal Technological Globalization
  • 5.
  • 6.
  • 7.
  • 8.
  • 9.
  • 10.
  • 11.
  • 12.
  • 13.
  • 14. Principles of Management 2 Management: A Systems Approach
  • 15. Systems approach to Management Organization as a System receives Input, transforms it through a Process for Output and Operates in an Environment ( economic, regulatory and other forces ) Transformation process input output Feedback (Reenergizing the system) ENVIRONMENT System Boundary
  • 16.
  • 17.
  • 18.
  • 19.
  • 20.
  • 21.
  • 22. Inputs (Goal Oriented) Outputs (External To Orgnzn.) Planning Organizing Staffing Leading Controlling Product/Services, Profits, Customer & Societal satisfaction, Other Long-term Goals Man, Machine Material, M ethod, Measurement Stake holder Feedback (reenergizing the system) EXTERNAL ENVIRONMENT (Opportunities, Constraints) Stakeholders Shareholders; Society; Customers; Employees; Suppliers Systems approach to Management …ctd.
  • 23. Principles of Management 3 Management Process First Step: Planning
  • 24.
  • 25. Plans as foundation of Management The primacy of Planning Plans What kind of resources needed? What kind of people & org. structure to have? How to lead them to reach planned goals? How to control in case of deviation from plan ?
  • 26.
  • 27.
  • 28.
  • 29.
  • 30.
  • 31.
  • 32. Steps in Planning Being aware of challenges Market, Customer’s wants, Competition, Own strengths & weakness Setting Goals/ Objectives What to accomplish & when Planning premises Internal & external Environment/conditions Identifying alternatives Comparing & choosing an alternative Decision making Budgeting (Numberizing Plans) e.g., Sales budget Operational Expense budget, Capital expenditure budget Formulating Supporting plans e.g., plan to buy Equipment, recruit & train Employees, develop product etc
  • 33.
  • 34. Steps in Planning Being aware of Opportunity Considering, Market, Competition, Customer’s wants, Own strengths &weakness Setting Goals/ Objectives What to accomplish & when Objective = Important end towards which activities are directed; therefore needs verification at the end of the plan period.
  • 35. Hierarchy of Objectives& Org. Levels Objectives set end results – they need to be supported by a hierarchy of sub-objectives, duly networked through the organization to avoid discord and wasted effort. Mission Overall Objectives & Key result areas. Divisional objectives Departmental objectives Individual objectives Board of Directors CEO Division Head Product X Division Head Product Y Sales & Mktg Dept Production Dept Sales Manager A Sales Manager B
  • 36.
  • 37. Hierarchy of Objectives& Org. Levels …ctd. While setting Objectives, ideally, Top Management should get information / ‘buy-in’ from lower levels to set realistic goals for a good result. Mission Overall Objectives & Key result areas. Divisional objectives Departmental objectives Individual objectives Top-down Approach Bottom-up Response: The result
  • 38.
  • 39.
  • 40.
  • 41.
  • 42.
  • 43.
  • 44.
  • 45. Planning Premises & Strategies Setting Goals/ Objectives What to accomplish & when Planning premises Internal & external environment Identifying alternatives Comparing & choosing an alternative Decision making Strategic Planning Process Strategy = determination of the purpose / the basic long-term objectives; the adoption of courses of action and allocation of resources required to achieve the aims.
  • 46. Planning Premises & Strategies …ctd. The Strategic Planning Process Stakeholder Wishes & Shareholder demands Management Orientation Enterprise Profile Purpose & Major objectives of enterprise Current External situation Current resource situation Forecast External situation External Opportunity & Threat Internal Strengths & Weakness Key success factors & Alternative Strategies Strategic choice
  • 47. Planning Premises Porter’s Five Forces : an Model for analysis of the Externals environment.
  • 48.
  • 49.
  • 50. Generic Strategy: BCG Matrix Red: Marketing Perspective ; Blue: Financial Perspective Cash Source Cash Use Hi Hi Lo Lo Market Growth rate Relative Market Share Hi Hi Lo Lo STAR “ Hold” ??? “ Build” Cash Cow “ Harvest” DOGS “ Divest”
  • 51. Planning Premises & Strategies …ctd. Decision Making = is the core of the planning process; a plan does not come into being unless a ‘decision’ i.e. certain commitments of resources, managerial time and money are made and risks are taken. Caution: A “Plan” is not intentions and should not suffer from “ Analysis Paralysis”. Comparing & choosing an alternative Decision making Budgeting ( Numberizing Plans) Say, Sales budget Operational Expense budget, Capital expenditure budget Formulating Supporting plans Say, plan to buy Equipment, recruit & train Employees, develop product etc Deployment (MBO etc.)
  • 52.
  • 53. Decision Making…ctd. How to select Amongst the Alternatives ? “ Experience”: good teacher and useful when routine/repeat situations arise under similar circumstances. Without due analysis of the conditions, mistakes tend to repeat or a poor fit results. “ Research & analysis”: the approach is in at first understanding the problem (‘half the solution’!), then finding relations between various factors which hinder or foster goal attainment. This is a structured, analytical approach quantitative or otherwise. “ Experimentation”: arguably, the best technique to use, particularly when either experience or rationale is lacking/limited. However is expensive and ‘success/failures’ are magnified, results are subject to interpretational errors.
  • 54.
  • 55.
  • 56. Principles of Management 4 Management Process: Organizing for results
  • 57.
  • 58. Nature of Organizing …ctd. The Business Organization Model: “Value Chain” (Porter,1985) The margin reflects the reward for the risks run by the company. All activities together need to generate ‘value’ greater than the sum of its costs. Margin Margin Firm Infrastructure Human Resource Management Technology Development Procurement Inbound Logistics Operations Outbound Logistics Marketing & Sales Service Support Activities Primary Activities
  • 59.
  • 60.
  • 61.
  • 62. Nature of Organizing …ctd. The building block of an organization is the Department : a group charged with independent task & responsibility. # Hierarchical levels Span of control # # # # # Office Bridge Team $ $ $ $ Car pool
  • 63.
  • 64.
  • 65.
  • 66. C.E.O Finance Qual. HRM BU 1 BU 2 I.R.M Recr. T&D G/H.R Plant 1 G/H.R Ind. Sin. I.S.O “ Departmentation” …ctd. Example of “Grid Control” & S.B.U’s
  • 67.
  • 68.