22509_Management_00000000CO1_LO5_PPT.pptx

22509_Management_CO1_LO4_PART2_PPT (2).pptx

1. Management-22509 Unit No-1 Introduction to Management Concept and Managerial Skills. (For MSBTE Diploma Engineering students) Ravindra Nafade , Lecturer in Mechanical Engg , Government Polytechnic, Nashik

2. Course Outcome: Use basic management principles to execute the daily activities. Ravindra Nafade , Lecturer in Mechanical Engg . Government Polytechnic , Nashik

3. Unit No.-1: Introduction to Management Concept and Managerial Skills . UO- 5: Suggest the suitable managerial skills for the given situation.

4. Objectives After this session you should be able to – 1 . List the areas of functional management. 2. Explain the concept of areas of functional management. 3. Identify the managerial Skills. 4. Suggest the suitable managerial Skills in a given situation. .

5. Functional Areas of Management Areas of Management: All the activities performed in company are grouped Under functional departments. This is known as areas of management. There are four functional areas of management namely 1. Production management. 2. Finance management. 3. Marketing management. 4. Human resource management.

6. Functional Areas of Management -1. Production management Objective of Production Management is: “To produce goods and services of right quality and quantity at the right time and right manufacturing cost” Planning, controlling and directing of the resources i e men, material, machine, equipment. Also known as operational management. Production management involves the following functions: (a) Product planning and development. (b) Plant location, layout and maintenance. (c) Production Control. (d) Purchasing of material and Materials management . (e) Research and Development

7. Functional Areas of Management- 2. Marketing Management Marketing Management is planning, organizing, controlling and implementing of marketing policies to distribute the products to the buyers to generate an acceptable profit. The major objectives of marketing management are: creation of demand, customer satisfaction, market share, generation of profits, creation of good will and public image. The sub-activities are: (1) Advertising: Giving information about products to buyers. (2) Marketing research: Systematic collection and analysis of data relating to the marketing of goods and services. (3) Sales management: Movement of products and services from producers to consumers

8. Functional Areas of Management- 3. Financial Management Financial Management is planning, organizing, directing and controlling the financial activities like procurement and utilization of funds of the enterprise The objectives are: 1) To ensure regular and adequate supply of funds to the organization. 2) To ensure adequate returns to the shareholders 3) To ensure optimum funds utilization 4) To ensure safety on investments 5) To plan a sound capital structure Functions are 1) Financial planning and forecasting 2) Determination of capital composition 3) Fund investment, &maintaining proper liquidity 4) Disposal of surplus and financial controls

9. Functional Areas of Management- 4. Human Resource (Personnel) Management Human Resource Management includes the processes of planning, selecting, recruiting and inducting employees in an organization. The objectives include a) Effective utilization of human resources b) Motivation c) Creating policies and procedures d) Growth and development of Human resources Functions of human resource management: i ) Man power planning ii) Recruitment & selection iii) Performance appraisal iv) Training v) Wage and salary administration vi) Compensation and rewards vii) Industrial relations viii) Employee communication

10. Managerial Skills Following three types of managerial skills that are essential to fulfil specific tasks in an organization . 1. Technical skills 2. Conceptual skills 3. Human or interpersonal management skills 1. Technical Skills Technical skills involve the knowledge of and proficiency in activities involving methods, processes and procedures. These skills involve the use of tools, equipment, procedures, and techniques of the industry. Technical skills are most important for supervisory level or first-level managers. As we go through a hierarchy from the bottom to higher levels, the technical skills lose their importance

11. Managerial Skills- 2. Conceptual Skills Abilities to see the organization as a whole. Includes analytical , creative and inter relationships skills Helpful to managers to look outside their department‘s goals. Mostly required for top managers, less critical for mid- level managers, and not required for first-level managers. These can be classified as Decision making skills: Ability of a person to take timely and accurate decisions. Organizational skills: It helps to select and fix right people at right work

12. Managerial Skills- 3 . Human or Interpersonal Managerial Skills Ability of a manager to work effectively with people. Helps to build a team and create an environment in which people feel secure and free to express their opinions These skills are equally essential for managers at all levels in the company. They are classified as: Communicating skills: It is the ability to convey information to the other. Improper, insufficient and poorly expressed information can create confusion. Motivating skills: It inspires people to do what the manager wants them to do. Leadership skills: This skill helps the manager to lead the people working under him. It is the ability to inspire confidence and trust.

13. Summary There are four functional areas of management namely : 1. Production management. 2. Finance management. 3. Marketing management. 4. Human resource management. Three types of managerial skills- 1. Technical skills 2. Conceptual skills 3. Human or interpersonal management skills

14. Thank You