NATURE AND SCOPE OF MANAGEMENT

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Management Definition, Nature, Scope And Role Of Managers : 

Management Definition, Nature, Scope And Role Of Managers Presented By Group No. 1 (Stephen Covey) Member’s Name:- ATUL MISHRA (COORDINATOR) SANGHARSH KUMAR RAJEEV KR. SHARMA SHAILENDRA RAKESH SINGH CHANDEL 6. JEETENDRA RAI

OBJECTIVES:- : 

OBJECTIVES:- After this presentation you will be able to define – Management Nature of Management Scope of Management Functions Of Management Role Of Managers

About Stephen Covey : 

About Stephen Covey Birth- Stephen Covey, a great motivational author of 7 Habits of Highly Effective People born on 24th october, 1932 in Utah, USA. Education- He studied in the university of Utah and completed his Master Of Business administrator (MBA) from Havard University and he also completed his Doctorate degree from the Brigham young university.

Cont… : 

Cont… Work- Covey worked as a professor of business management and organisational behaviouer at Brigham University. Famous Book- 7 Habits Of Highly Effective People .

What is Management? : 

What is Management? There is no precise definition of management. Management has decision oriented definition, people oriented definition, function oriented definition and production or efficiency oriented ect. But in general we define the management as follow; “ Management is the process involving planning, organizing, staffing, directing and controlling human efforts to achieve stated objectives in an organization.”

Nature of Management : 

Nature of Management The study and application of management techniques in managing the affairs of the organization have changed its nature over the period of time . Various contributions to the field of management have changed its nature. Therefore the nature of management can be described as follow; Multidisciplinary Dynamic nature of principles Relative, not absolute principles Management: Science or Art Management as Profession Universality of Management

1-Management as Disciplinary : 

1-Management as Disciplinary Management is basically multidisciplinary. This implies that, although management has been developed as a separate discipline, it draws knowledge and concepts from various discipline. It draws freely ideas and concepts from psychology, sociology, anthropology, economics, ecology ect. Management integrates the ideas and concepts taken from these disciplines and presents newer concepts which can be put into practice for managing the organization. In fact the integration of knowledge of various discipline is the major contribution of management and this integrated discipline is known as management.

2- Dynamic Nature Of Principles : 

2- Dynamic Nature Of Principles Principle is a fundamental truth which establish causes and effect relationships of function. Management has framed certain principles on the basis of integration and supported by practical evidences. These principles are flexible in nature and with the changed in the environment in which an organization exists. Because of the continuous development in nthe field, many older principles are being changed by new Principles. In fact, there is nothing permanent in the landslide of management.

3- Relative, not absolute Principle : 

3- Relative, not absolute Principle Management principles are relative, not absolute and they should be applied according to the need of the organization. Each organization may be different from others. The difference may exits because of time, place, socio-culture factors ect. However individuals working within the same organization may also differ. Thus a particular management should be applied in the light of prevailing conditions.

MANAGEMENT: SCIENCE OR ART : 

MANAGEMENT: SCIENCE OR ART There is a controversy whether management is science or art. Management is both science and Art. Management as Science: Management as an art. Management: science and art both:

Cont… : 

Cont… MANAGEMENT AS PROFESSION 1 Existence of knowledge: 2 Acquisition of Knowledge 3 Profession Association 4 Ethical Codes: 5 Service motive Management as Emerging profession Profession of Management in India

Cont… : 

Cont… Universality of Management arguments for universality Management as a process Distinction between management fundamental and techniques. Distinction between management fundamental and practice Arguments against universality

SCOPE OF MANAGEMENT : 

SCOPE OF MANAGEMENT Production Management: (a) designing the product (b) location and layout of plant and building (c) planning and control of factory operations (d) operation of purchase and storage of materials (e) repairs and maintenance (f) inventory cost and quality control (g) research and development etc.

(ii) Marketing Management: : 

(ii) Marketing Management: Marketing involves following activities (a) Marketing research to determine the needs and expectation of consumers (b) Planning and developing suitable products (c) Setting appropriate prices (d) Selecting the right channel of distribution, and (e) Promotional activities like advertising and salesmanship to communicate with the customers

(iii) Financial Management: : 

(iii) Financial Management: 1. selecting the appropriate source of funds 2.raising the required funds at the right time 3.administration of earnings 4.Estimating the volume of funds

(iv) Personnel Management: : 

(iv) Personnel Management: (a) Manpower planning (b) Recruitments, (c) Selection, (d) Training (e) Appraisal, (f) Promotions and transfers, (g) Compensation, (h) Employee welfare services, and (i) Personnel records and research, etc.

Slide 17: 

Management Functions Planning Organizing Staffing Directing Controlling

Planning : 

Planning planning is the first function which is basically a logical thinking process that decides what needs to be done in order to achieve organization's goals and objectives. It focuses on the broader perspective of the business as well as taking into consideration, the tactical methods to get the desired results.

Organizing : 

Organizing Organizing is about setting up and maintaining the internal organizational structure in accordance with objectives mentioned in planning stage. It also involves assigning tasks to various individuals for the larger goal of organization's missions and objectives.

Staffing : 

Staffing Staffing is the process of choosing right people for organization. It can be associated with human resource management and involves recruitment, hiring, training and compensating the workforce.

Directing : 

Directing Directing is guiding people in the organization through the means of counseling, instructing, motivating

Controlling : 

Controlling The process of leading and influencing the task related activities of group members or an entire organization

Slide 23: 

Leader or Manager? Innovate Develop Inspire Long-term view Originate Challenge status-quo Administer Maintain Control Short-term view Imitate Accept status-quo

Slide 24: 

How This Class Works STUDENT + CLASSROOM + Instructor Guests Activities/Discussions Videos... OUTSIDE RESOURCES Book Internet Reference Materials = KNOWLEDGE

5 M’s of Management : 

5 M’s of Management Money Manpower Material Machinery Methods

Slide 26: 

Managerial Roles Interpersonal figurehead leader liaison Informational monitor disseminator spokesperson Decisional entrepreneur disturbance handler resource allocator negotiator

Roles Functions : 

Roles Functions Interpersonal Informational Decisional Planning Organizing Staffing Directing Controlling

RELIANCE GROUP : 

RELIANCE GROUP The Reliance group founded by Dhirubhai H. Ambani “1932-2002”. India provides largest sector enterprise, with business in the energy and materials value chain Group’s annual revenues in excess of USD 22 Billion the flagship company. Reliance industries limited Fortune global 500 companies and it is largest private sector company in India.

Slide 29: 

Late Dheeru Bhai Ambani

Slide 30: 

Born : December 28, 1932 Died : July 6, 2002 Achievements: - Dhiru Bhai Ambani built India’s largest private sector company. Created an equity cult in the Indian capital market. Reliance is the first Indian Company to feature in Forbes. Dhirubhai Ambani alias DhirajLal Hirachand Ambani was born on December 28, 1932 at chorwad, Gujarat into a modh family. His father was a school teacher. Dhirubhai Ambani started his entrepreneurial career by selling “bhajias” to pilgrims in Mount girnar over the weekends.

Slide 31: 

We are very thankful to our respected dean sir Prof. S.K. SRIVSTAVA for his guidance and motivation to this presentation