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Lecture 1: Introduction to Management - I
The course Principles of management is a fundamental course which gives an overview of what
is management
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we will also discuss about why do we study
management universality and cost and rewards of being manager
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mainstream approach
focuses on profit maximization
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management involves coordinating and overseeing the work activities of others
other employees
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The main prime concern of managers is always to have efficiency and
effectiveness
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they are classified as first line managers, middle managers and top managers
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are individuals who manage non-managerial employees or the
workers
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middle
managers are managers responsible for making organization wide decisions and establishing
plans and goals to influence the entire performance of organizations
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NK] order to sustain or have a competitive business, organizations need to make
some minor modifications or a complete change in their technology
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[UNK] definition of management includes coordinating and overseeing the work activities
of others, and so in order to have a sustainable business,
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[UNK] Functions of management include
planning, organizing, leading and controlling
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means employees working together to
accomplish a common goal
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The aim of management is the same
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2
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3
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4
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Top managers are responsible for making organization-wide decisions and establishing plans
and goals that influence the entire performance of organizations
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with complexity the
organizations, nature and the business environment has changed and the structure does not
remain intact
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tall hierarchical structures have decision making power bestowed with the top management
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management involves basically planning and decision making, organizing,, leading and
controlling
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leading function motivating members of the organization to work in best
interest of organization
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planning function identifies organizational goals for
organization in each stage of growth
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should be to be known in the
market
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growth stage with
more products and services
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When the market is almost to mature
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more competitors
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In case of crisis could be due to product failure
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There was a massive rejection and people could not take
a people did not buy it
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The company had a different plan
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The emphasis is not on research and development, but emphasis is on
communication
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structure is can be a tall structure with power center power at the center or the flatter structure
will have power bestowed it at different hierarchical levels
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departmentalization is division based on principle of division of
labor
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technology used as per the goals and physical layout office space budgets,
policies and resource allocation
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organizations are moving from bureaucratic to bureaucratic to less of bureaucracy, or more of
say participation participative approach
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in a participative culture participation, there is a equal
equal weightage given to all employees or consensus based culture
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1) insights about the goals, objectives and strategies of an organization as well as the role of
communication in achieving these goals
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3
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1
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2
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3
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4
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5
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The passage discusses the different types of control that managers
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Control over internal and external informations is one of the main functions
of a manager
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Market control is observation,
interaction, questioning and clan control
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In this lecture, we will delve into the different levels of managers in an
organizational hierarchy and the amount of time they spend on planning, organizing, directing,
and controlling
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Top
managers invest more in conceptual and design skills, while middle managers require more
human skills like communication, motivation, trust, team building, resolving conflict, and
negotiating
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Henry Mintzberg identified ten different categories of managerial roles, including
planning, organizing, directing, and controlling
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Managers should aim to provide the highest level of satisfaction to employees working with
them, but their goal is not to provide personal satisfaction
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They must be honest and not change their expectations frequently
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Roles of a Manager
A manager has three important roles: informational, interpersonal, and decisional
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Disseminate information to other organizational members or employees within the organization
via memos, reports, phone calls, etc
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Interpersonal Role
Build trust between managers and maintain personal contacts with individuals within and
outside the organization
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Act as a figurehead by fulfilling ceremonial and symbolic duties such as greeting visitors and
signing legal documents
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Motivate subordinates, direct them, counsel them, and communicate with them to lead them
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Act as an entrepreneur to delegate ideas and responsibility to others, think big, and take risks
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Delegate out-of-the-box thinking and more innovative ideas to subordinates
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Henry Mintzberg's Managerial Roles
Mintzberg's managerial roles can be categorized as informational, interpersonal, and decisional
roles
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The third approach emphasizes the skills
that managers need to possess, including technical skills, human skills, and conceptual skills
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Human skills: the ability to work well with others
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The last role is negotiator, who plays a prime role in resolving labor-management issues
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The negotiator represents the department during the negotiation of
union contracts
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They should know how to design new product features and conduct market research
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The role of a
marketing manager is to help others find meaning and fulfillment in work
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The Rewards and Challenges of Managers
The managers create an environment in which organizational members can work to the best of
their ability
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The managers must provide an
environment to work with a variety of people
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The management team needs to
provide a good environment; the manager needs a good work ethic
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They should not be distracted by bad
decisions or make mistakes
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We would like to
explain why we make our decisions and give our managers a clear understanding of our
choices
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There has been a
good decision, and we don't want to deny it
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The Importance of Good Managers
All organizations require good managers to ensure success
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Success
depends on the performance of others, and good managers must be able to successfully blend
the knowledge, skills, ambitions, and experience of a diverse work group
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Good managers need to be able to work in coordination with others
They need to be able to overcome challenges
They create a healthy environment where everybody is motivated
They ensure that everyone performs to their best abilities
If a manager can successfully do all of these things, the overall performance of the organization
will be too high
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Please contact us for more information
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The contemporary workplace has seen changes in technology, increased emphasis
on ethics and competitiveness, and a shift towards virtual and mobile workforces
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Excellent enterprises are action-oriented and make
decisions based on data analysis, with a strong emphasis on innovation
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Customer relationship management is a prime responsibility of all managers and employees
The concept of virtual workplace is becoming increasingly popular
Work-life balance is given more emphasis
Excellent enterprises are action-oriented and value sensitivity towards customer orientation
The emphasis has shifted from profit to stakeholder relationship and innovation
The goal is to create long-term value for shareholders, while maintaining a sustainable and
healthy environment
The focus is on empowerment, maintaining a balance, and avoiding negative cycles to achieve
a sustainable and successful environment
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Managers should encourage
employees to be aware of their responsibilities and communicate effectively
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Managers
are given more flexibility and autonomy
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Data helps in converting to information about the customer's needs and
levels of satisfaction, which is converted into knowledge for intelligent decision making
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Emphasis is on lean staff with more flexibility and balance between centralization and
decentralization
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There is more sensitivity towards the employee's needs, driven by a core philosophy or value
system set by the leaders of the organization
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The company will give more power to the
employees, and all will collectively work for the betterment of the corporate image and identity
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The company gives more power to employees, and all will collectively work for the betterment of
the corporate image and identity
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Management Skills
Management skills and actions are key to helping organizations overcome crisis
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Successful
departments and organizations just do not happen, and they are more creative inspired and
productive
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There is emphasis on sustainability, flexibility, human dignity and stakeholder engagement
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Universality of Management
The principles of management are applicable to all types of organizations, including profit
centers, non-profit organizations, government and private organizations
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Benefits of Studying Management
Studying management improves an individual's knowledge of how various organizations work,
enhances their conceptual ability, and increases their job satisfaction
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Mainstream vs
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The control function is based on fairness, justice, sensitization, and value systems, while the
multistream approach emphasizes practical wisdom, concern for equity and justice in the
workplace, and collective approach to attaining goals
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The focus is on courage, experimentation, and action reflection
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Corrective actions are taken to improve performance and ensure organizational
values are consistent
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This concept is
universal and applicable to all areas of an organization, including manufacturing, marketing,
human resources, and information systems
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If you're interested in learning more about management, here are some recommended
textbooks:
Fundamentals of Management by Stephen Robbins and Mary Coulter
Management by Daft
Essentials of Management by Koontz and Weihrich
Management Fundamentals by Griffin R
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The
purpose of organizations has shifted from a push strategy to a pull strategy, with innovation
providing a sustainable competitive advantage
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The Changing Role of Managers
The manager's job is changing, and as part of the Principles of Management Part 1, we will
discuss how it's evolving
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They must understand the problems to avoid their responsibilities
and take proactive steps to change their actions
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Virtual
workplaces, organizational boundaries, workforce mobility, and managerial ethics have led to
changes in the contemporary workplace
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Technology has changed the
organization structure, and there is an increased emphasis on digitalization and the ebusiness
concept
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Transparency and
long-term value for shareholders are essential
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Short-term success is not
enough, and companies need to invest, grow, and innovate for long-term success
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Shift from Traditional to Modern Management Concept
There is a shift in focus from traditional management to the modern management concept
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Excellent enterprises are action-oriented, learn about the needs of their
customers, and prioritize customer satisfaction
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Companies that focus solely on their employees are not as successful as those that
focus on delivering value to their customers and all stakeholders
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Successful companies emphasize their
strengths rather than highlighting their weaknesses
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The credo of Johnson & Johnson highlights the need for multiple
stakeholders and emphasizes the importance of individualism and commitment to all
stakeholders
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Good
management is needed in all organizations
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Successfully managed organizations receive significant
monetary rewards for their efforts
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The multistream approach is high on participation and
engagement, emphasizes personal responsibility, and has a high commitment to all
stakeholders
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On the other hand,
the multistream approach emphasizes multiple forms of well-being for multiple stakeholders,
with an aim to strike a balance among them
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Control is maintained through justice, fairness, equity, and sensitization
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Emphasis on stakeholder relationship, concern for equity, fairness, and justice
People, planet, and profit should be emphasized together
Competition has increased, and customers have many options available
Understanding both approaches is beneficial for managers to maintain relationships with
customers and stakeholders
Management concepts are required in all organizational areas, and the universality of
management concepts applies to all sizes of organizations
Understanding the historical evolution of management and the context is equally important
For more information, please visit http://www
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org/report

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