Management Fundamentals- Introduction to the subject.pptx

Introduction to the subject management fundamentals

1. Management Fundamentals Introduction to the subject

2. Introduction Type – Compulsory Generic Core Course Credits – 2 Credits Course Code- 107

3. Unit 1 Basic Concepts Manager, Managing, Workplace, Organization, Management Functions, Mintzberg’s Managerial Roles, The Universality of Management, Approaches to Management - Early Management, Classical Approach, Behavioral Approach, Quantitative Approach, Contemporary Approaches. Managerial Competencies: Communication , team work, planning and administrative, strategic and global competencies; Managerial Skills How Is the Manager’s Job Changing? Importance of Customers to the Manager’s Job, Importance of Innovation to the Manager’s Job, Importance of Sustainability to the Manager’s Job.

4. Unit 2 Planning Concept, need, nature, Management By Objectives (MBO) - Process of MBO - Benefits of MBO, Planning and Performance, Goals and Plans, Types of Goals, Types of Plans, Setting Goals and Developing Plans, Approaches to Setting Goals, Developing Plans , Approaches to Planning, Planning Effectively in Dynamic Environments .

5. Unit 3 Organizing Organization, Organizing, Organizational Structures, Principles of Work Specialization, Departmentalization, Chain of Command, Span of Control, Centralization and Decentralization, Formalization. Mechanistic and Organic Structures, Factors Affecting Structural Choice - Strategy, Size, Technology, Environmental Uncertainty. Traditional Organizational Designs - Simple Structure, Functional Structure, Divisional Structure, Matrix Structure, Team Structures, Project Structure, Adaptive Organizations – Boundary less Organization, Virtual Organizations, Learning Organization, Flexi Work, Tele-working, Global Organizations .

6. Unit 4 Decision Making The Decision-Making Process - Identifying a Problem - Identifying Decision Criteria - Allocating Weights to the Criteria - Developing Alternatives - Analyzing Alternatives - Selecting an Alternative - Implementing the Alternative - Evaluating Decision Effectiveness. Making Decisions: Rationality, Bounded Rationality , The Role of Intuition, The Role of Evidence-Based Management. Types of Decisions & DecisionMaking Conditions. Decision-Making approaches - Quantitative approach, Environmental Approach, System Approach , Ethical Approach, Intuitive Approach, Case Study Approach Decision-Making Styles – Linear Nonlinear Thinking Style Profile, Decision-Making Biases and Errors. Effective Decision Making in Today’s World - Correctness of decision, Decision environment, Timing of decision, Effective communication of Decision, Participation in decision Making-Implementation of decision.

7. Unit 5 Controlling Controlling, Definition, need and Importance , The Control Process, Managerial Decisions in Controlling , Feed-forward / Concurrent / Feedback Controls. Financial Controls, Information Controls, Benchmarking of Best Practices.

8. Reading Assistance Suggested Text Books Fundamentals of Management by Robbins, S.P. and Decenzo , D.A., Pearson Education Asia, New Delhi. Management , Koontz and Wechrich , TMGH Management , Stoner, et. al., Prentice Hall of India, New Delhi. Suggested Reference Books Management, Hellregel , Thomson Learning, Bombay Management , Robbins & Coulter, Prentice Hall of Hall of India, New Delhi. Management - Text & Cases, Satya Raju , PHI, New Delhi. Management , Richard L. Draft, Thomson South-Western

9. Successful Management: The Turnaround of Tata Motors (Post-2008 Crisis) Background:Tata Motors, one of India’s largest automobile manufacturers, faced significant challenges in the late 2000s, especially after acquiring Jaguar Land Rover (JLR) in 2008. The global financial crisis hit the company hard, and its operations struggled due to declining sales, rising input costs, and competition from both domestic and international players.

10. The Management Strategy: Restructuring and cost management: Tata Motors implemented several cost-cutting measures, including streamlining operations and reducing overhead expenses. The company also improved its supply chain efficiencies to reduce production costs . Innovation and new product development: Tata Motors launched the Tata Nano, branded as the world’s cheapest car, aimed at capturing the low-cost vehicle market. Meanwhile, JLR introduced a series of successful models, such as the Range Rover Evoque and Jaguar XF, which helped to reposition the brand in the global market .

11. Leadership vision: Under the leadership of Ratan Tata and, later, Cyrus Mistry, Tata Motors emphasized long-term sustainability and profitability, focusing on innovation and operational efficiency . Global market expansion: Tata Motors shifted focus to international markets, especially emerging economies, to diversify revenue sources and mitigate the impact of sluggish domestic demand .

12. Why It Worked: Strategic focus on core strengths: The company concentrated on segments where it had a competitive edge, such as commercial vehicles, and made improvements in its passenger vehicle division through innovation . Effective crisis management: By cutting unnecessary costs and improving operational efficiencies, Tata Motors managed to survive the tough economic conditions post-2008 . Leadership and foresight: Strong leadership at critical times ensured the company remained resilient in the face of a global downturn.

13. Results: Tata Motors returned to profitability by 2012, with a significant turnaround in JLR’s fortunes, which went from a loss-making division to a key revenue generator . The successful launch of innovative products helped the company regain market share in both the domestic and international markets.

14. Key Takeaways: A well-structured turnaround strategy, combined with innovation, can help companies emerge stronger from crises . Leadership vision and operational efficiency are critical for long-term success in management.