FUNCTIONS-of-management revised pptx.pptx

economics

1. FUNCTIONS OF MANAGEMENT

2. History back to human civilization Group activity to attain objectives Direct, co-ordinate and integrate individual activity Utilizing the resources like men, material machines, money etc Profit maximization or continuous growth and survival No under developed countries bu poor management of resources

3. MEA N I N G Manag e m ent m ea n s d i r ec t i ng and c o n t r o l l i ng a g r oup of p e op l e or an organization to reach a goal. Ma n a g e m ent o ft en m eans t he d e p l oy m e n t and m a n i pu l a ti o n of human resources , financial resources, technological resources, and natural resources . In other word Management can also mean the person or people who manage, the managers ,the organization and coordination of the activities of a business in order to achieve defined objectives .

4. 5 M’S OF MANAGEMENT In other words, it is concerned with optimally using 5M’s, i.e. men, machine, material, money and method

5. CHARACTERISTICS OF MANAGEMENT

6. LE V ELS OF M A NA GEME N T

7. Top-Level Management : This is the highest level in the organizational hierarchy, which includes Board of Directors and Chief Executives . They are responsible for defining the objectives, formulating plans, strategies and policies. Middle-Level Management : It is the second and most important level in the corporate ladder, as it creates a link between the top and lower-level management. It includes departmental and division heads and managers who are responsible for implementing and controlling plans and strategies which are formulated by the top executives. Lower Level Management : Otherwise called as functional or operational level management. It includes first-line managers, foreman, supervisors . As lower-level management directly interacts with the workers, it plays a crucial role in the organization because it helps in reducing wastage and idle time of the workers, improving the quality and quantity of output.

8. FUNCTIONS OF MANAGEMENT

9. Planning Determining organizational goals and means to reach them Managers plan for three reasons Establish an overall direction for the organization’s future Identify and commit resources to achieving goals Decide which tasks must be done to reach those goals

10. First Factor of Management: Planning Defining goals and tackling them Defines future of organization- long-term plans Develops strategic plans Long-term and effects entire organization Bridges gap between what organization is and what it wants to be Tactical plans Translate strategic plans into specific actions- who, what, where, etc.

11. Organizing means assigning the planned tasks to various individuals or groups within the organization and cresting a mechanism to put plans into action. Organizing

12. Organizing Decides how to best implement the plans Decides how an organization is structured Assigns authority and responsibility Works to acquire resources Decides coordination

13. PRINCIPLES OF MANAGEMENT Henri Fayol 14 Principles of Management Henry Fayol, also known as the ‘father of modern management theory’ gave a new perception of the concept of management. He introduced a general theory that can be applied to all levels of management and every department. The Fayol theory is practised by the managers to organize and regulate the internal activities of an organization. He concentrated on accomplishing managerial efficiency.

14. M A N A GEMENT A R T , S C IEN C E O R P R OFESSI O N

15. THANK YOU