Principles of Management

Assignment 1

Name: Abidullah
Roll No: 17002101

SUBMITTED TO:
Mr. MUKESH SHARMA
Q 1: Define the term management?
Ans:
1. the organization and coordination of the activities of a business in order to achieve defined objectives.

Management is often included as a factor of production along with? Machines, materials, and money.
According to the management guru Peter Drucker (1909-2005), the basic task of management includes both
marketing and innovation. Practice of modern management originates from the 16th century study of low-
efficiency and failures of certain enterprises, conducted by the English statesman Sir Thomas More (1478-
1535). Management consists of the interlocking functions of creating corporate policy and organizing,
planning, controlling, and directing an organization's resources in order to achieve the objectives of that
policy.
2. The directors and managers who have the power and responsibility to make decisions and oversee an
enterprise.

The size of management can range from one person in a small organization to hundreds or thousands of
managers in multinational companies.
In large organizations, the board of directors defines the policy which is then carried out by the chief
executive officer, or CEO. Some people agree that in order to evaluate a company's current and future worth,
the most important factors are the quality and experience of the managers.

Q 2: What are characteristics of management?

Ans:

(1) Management is Goal-oriented Process:

No goal in the hand no need of management. In other words, we need management when we have some
goals to be achieved. A manager on the basis of his knowledge and experience tries to achieve the goals
which are already decided. Hence, nothing is wrong to say that management is a goal-oriented process.

(2) Management is All-pervasive:

Anything minus management is nothing or zero. Here by anything we mean all types of activities-business
and non-business. If we deduct management out of these activities, the result will be failure or zero. It means
management is necessary to conduct any type of activities. Hence, it is pervasive or universal.

(3) Management is Multidimensional:

The management is a three-dimensional activity:

(i) Management of Work:

Every organization is established for doing some work, like a school provides education, a hospital treats
patients, a factory produces, etc. Of these, no work can be completed satisfactorily without management,

(ii) Management of People:

Each organization is established for doing some work and the same is conducted by people. Hence, it is
necessary to manage the people so that the work can be accomplished in a better way.

(iii) Management of Operations:

To achieve the goals of an organization many operations or activities need to be conducted, such as,
production, sale, purchase, finance, accounting, R&D, etc. Again, management is needed to make sure that
operations are accomplished efficiently and effectively.

(4) Management is a Continuous Process:

The various managerial activities cannot be performed once for all, but it is a continuous process. A manager
is busy sometimes in doing one managerial activity and at other times some other activity.

(5) Management is a Group Activity:

It means that (|T-2 it is not a single person who consummates all the activities of an organization but it is
always a group of persons (managers). Hence, management is a group effort.

(6) Management is a Dynamic Function

Management is a dynamic activity as it has to adjust itself to the regularly changing environment. In this
context, it can be rightly said that nothing is eternal in management.

It is necessary here to clearly understand that the recognition of management in the form of group is only in
reference to big organizations, because in these kinds of organizations many managers are appointed at
various managerial levels.

On the other hand, in small organizations only one manager is sufficient as he can himself manage all the
affairs of the organization. For these kinds of organizations it would not be right to call management a group
activity.

(7) Management is an Intangible Force:

Management is that power which cannot be seen. It can only be felt. If any organization is heading toward
higher levels of achievement, it signifies the existence of good management and vice versa. In other words,
achievement reflects the quality of management and its effectiveness.

Q 3:

1) Management
2) Manpower Planning
3) Organizing
4) Communication
5) Controlling
6) Forecasting
7) Decision Making

Q 4: List out the poles played by manager in organization?

Ans:

Role of Managers
Managers are the primary force in an organization's growth and expansion. Larger organizations are
particularly complex due to their size, process, people and nature of business. However, organizations need
to be a cohesive whole encompassing every employee and their talent, directing them towards achieving the
set business goals. This is an extremely challenging endeavor, and requires highly effective managers having
evolved people management and communication skills.

The Top Management

The top level executives direct the organization to achieve its objectives and are instrumental in creating the
vision and mission of the organization. They are the strategic think-tank of the organization.

Senior Management

The General Manager is responsible for all aspects of a company. He is accountable for managing the P&L
(Profit & Loss) statement of the company. General Managers usually report to the company board or top
executives and take directions from them to direct the business.

The Functional Manager is responsible for a single organizational unit or department within a company or
organization. He in turn is assisted by a Supervisor or groups of managers within his unit/department. He is
responsible for the department’s profitability and success.

Line and Staff Managers

Line Managers are directly responsible for managing a single employee or a group of employees. They are
also directly accountable for the service or product line of the company. For example, a line manager at
Toyota is responsible for the manufacturing, stocking, marketing, and profitability of the Corolla product
line.

Staff Managers often oversee other employees or subordinates in an organization and generally head revenue
consuming or support departments to provide the line managers with information and advice.

Project Managers

Every organization has multiple projects running simultaneously through its life cycle. A project manager is
primarily accountable for leading a project from its inception to completion. He plans and organizes the
resources required to complete the project. He will also define the project goals and objectives and decide
how and at what intervals the project deliverables will be completed.

The Changing Roles of Management and Managers

Every organization has three primary interpersonal roles that are concerned with interpersonal relationships.
The manager in the figurehead role represents the organization in all matters of formality. The top-level
manager represents the company legally and socially to the outside world that the organization interacts with.
In the supervisory role, the manager represents his team to the higher management. He acts as a liaison
between the higher management and his team. He also maintains contact with his peers outside the
organization.

Mintzberg's Set of Ten Roles

Professor Henry Mintzberg, a great management researcher, after studying managers for several weeks
concluded that, to meet the many demands of performing their functions, managers assume multiple roles.

He propounded that the role is an organized set of behaviors. He identified the following ten roles common
to the work of all managers. These roles have been split into three groups as illustrated in the following
figure.
Interpersonal Role

 Figurehead − Has social, ceremonial and legal responsibilities.

 Leader − Provides leadership and direction.
 Liaison − Networks and communicates with internal and external contacts.

Informational Role

 Monitor − Seeks out information related to your organization and industry, and monitors internal
teams in terms of both their productivity and well-being.
 Disseminator − Communicates potentially useful information internally.
 Spokesperson − Represents and speaks for the organization and transmits information about the
organization and its goals to the people outside it.

Decisional Role

 Entrepreneur − Creates and controls change within the organization - solving problems, generating
new ideas, and implementing them.
 Disturbance Handler − Resolves and manages unexpected roadblocks.
 Resource Allocator − Allocates funds, assigning staff and other organizational resources.
 Negotiator − Involved in direct important negotiations within the team, department, or organization.
Managerial Skills
Henri Fayol, a famous management theorist also called as the Father of Modern Management, identified
three basic managerial skills - technical skill, human skill and conceptual skill.

Technical Skill

 Knowledge and skills used to perform specific tasks. Accountants, engineers, surgeons all have their
specialized technical skills necessary for their respective professions. Managers, especially at the
lower and middle levels, need technical skills for effective task performance.
 Technical skills are important especially for first line managers, who spend much of their time
training subordinates and supervising their work-related problems.

Human Skill

 Ability to work with, understand, and motivate other people as individuals or in groups. According to
Management theorist Mintzberg, the top (and middle) managers spend their time: 59 percent in
meetings, 6 percent on the phone, and 3 percent on tours.
 Ability to work with others and get co-operation from people in the work group. For example,
knowing what to do and being able to communicate ideas and beliefs to others and understanding
what thoughts others are trying to convey to the manager.

Conceptual Skill

 Ability to visualize the enterprise as a whole, to envision all the functions involved in a given
situation or circumstance, to understand how its parts depend on one another, and anticipate how a
change in any of its parts will affect the whole.
 Creativity, broad knowledge and ability to conceive abstract ideas. For example, the managing
director of a telecom company visualizes the importance of better service for its clients which
ultimately helps attract a vast number of clients and an unexpected increase in its subscriber base and
profits.

Other Managerial Skills

Besides the skills discussed above, there are two other skills that a manager should possess, namely
diagnostic skill and analytical skill.

Diagnostic Skill − Diagnose a problem in the organization by studying its symptoms. For example, a
particular division may be suffering from high turnover. With the help of diagnostic skill, the manager may
find out that the division’s supervisor has poor human skill in dealing with employees. This problem might
then be solved by transferring or training the supervisor.

Analytical Skill − Ability to identify the vital or basic elements in a given situation, evaluate their
interdependence, and decide which ones should receive the most attention. This skill enables the manager to
determine possible strategies and to select the most appropriate one for the situation.

For example, when adding a new product to the existing product line, a manager may analyze the advantages
and risks in doing so and make a recommendation to the board of directors, who make the final decision.
Diagnostic skill enables managers to understand a situation, whereas analytical skill helps determine what to
do in a given situation.