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Management Principles and Practices Notes

The document outlines key management principles and practices, including definitions, importance, functions, and various management theories. It covers planning, organizing, leading, and controlling processes, along with decision-making techniques and organizational structures. Additionally, it addresses management challenges such as change management and ethics.

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5 views4 pages

Management Principles and Practices Notes

The document outlines key management principles and practices, including definitions, importance, functions, and various management theories. It covers planning, organizing, leading, and controlling processes, along with decision-making techniques and organizational structures. Additionally, it addresses management challenges such as change management and ethics.

Uploaded by

tryit773
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Management Principles and Practices -

Unit-wise Notes
Unit 1: Introduction to Management

Definition of Management:
Management is the art and science of coordinating people and resources efficiently to
achieve organizational goals.

Importance of Management:
- Helps achieve goals
- Improves productivity
- Facilitates innovation and adaptability
- Enhances employee coordination and communication
- Ensures efficient use of resources

Functions of Management:
1. Planning
2. Organizing
3. Leading
4. Controlling

Management Theories:
Classical Theories:
- F.W. Taylor – Scientific Management
- Henri Fayol – Administrative Theory

Behavioral Theories:
- Maslow’s Hierarchy of Needs
- Herzberg’s Two-Factor Theory

Modern Theories:
- Peter Drucker: MBO, Decentralization

Henri Fayol’s 14 Principles of Management:


1. Division of Work
2. Authority and Responsibility
3. Discipline
4. Unity of Command
5. Unity of Direction
6. Subordination of Individual Interest
7. Remuneration
8. Centralization
9. Scalar Chain
10. Order
11. Equity
12. Stability of Tenure
13. Initiative
14. Esprit de Corps

Unit 2: Planning and Decision Making

Planning:
Planning is the process of setting goals and deciding how to achieve them.

Steps in Planning Process:


1. Set objectives
2. Analyze environment
3. Develop alternatives
4. Evaluate alternatives
5. Choose the best plan
6. Implement the plan
7. Monitor and review

Types of Plans:
- Strategic
- Tactical
- Operational

Planning Tools and Techniques:


- SWOT analysis
- Forecasting
- Budgeting
- Scheduling

Decision Making:
- Programmed & Non-programmed decisions
- Techniques: SWOT, Decision Tree, Cost-benefit, Brainstorming

Goal Setting:
- SMART criteria: Specific, Measurable, Achievable, Realistic, Time-bound

Unit 3: Organizing and Leading

Organizing:
Organizing is the process of arranging resources and tasks to achieve objectives.

Organizational Structure:
Types: Hierarchical, Matrix, Flat

Organizational Culture:
- Values, norms, beliefs
- Types: Clan, Adhocracy, Market, Hierarchy

Leadership:
Leadership Styles:
- Autocratic
- Democratic
- Laissez-Faire

Motivation:
Maslow’s Hierarchy of Needs: Physiological to Self-Actualization
Herzberg’s Two-Factor Theory: Motivators and Hygiene Factors

Unit 4: Controlling and Management Challenges

Controlling:
Monitoring and evaluating performance to achieve goals.

Controlling Process:
1. Set standards
2. Measure performance
3. Compare with standards
4. Take corrective actions

Types of Control:
- Feedforward
- Concurrent
- Feedback
Control Techniques:
- Budgets
- Balanced Scorecard
- MIS
- KPIs

Performance Measurement:
- KPI Tracking
- Appraisals
- 360-degree feedback

Management Challenges:
- Change Management
- Conflict Resolution
- Globalization
- Ethics and Sustainability

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