This document provides an introduction and overview of management principles. It begins with defining what a principle is, noting that principles are fundamental truths or beliefs that guide people towards objectives. It then discusses how principles are formed by individuals and adapted based on situations. While some principles like scientific laws do not change, managerial principles can evolve due to internal or external forces. The document outlines several characteristics of management, including that it is both an art and a science, requires planning, organizing, and goal setting. Finally, it emphasizes the importance of management in utilizing resources effectively and directing an organization to counter changes.
What is Management? Definition, Examples, Meaning of Management
1.introduction to pom
1. INTRODUCTION to management
Agenda!!
Definition of management
Functions of Management
Characteristics of Management
Professional Qualities –Manager
Understand Importance of Management
Principles Of Management (Anand Choudhary)
1
2. POM-Principle… Why ??
What is a principle?
Who defines them and How are these formed?
Why are these principles required? Are there
any validations/thumb rules for laying down
these principles?
Do principles change? If so -What are the
factors lead to changes?
Principles Of Management (Anand Choudhary)
2
3. POM-Principle…
What is a principle?
It’s a fundamental truth or at least believed to be true
at a given time
Who defines them and How are these formed?
Each one of us have some other principle
Depending upon the situation the person in- charge
defines
Principles Of Management (Anand Choudhary) 3
4. POM-Principle…(contd)
Why are these principles required? Are there
any validations/thumb rules for laying down
these principles?
Guide (shows a direction) through to
achieve the desired objective/goal and to
overcome complexities
There cannot a thumb rule principles, they
are all based on thought process, experience
and the need of that situation/time
Principles Of Management (Anand Choudhary)
4
5. POM-Principle…(contd)
Do principles change? If so -What are the
factors lead to changes?
Some facts are universal
eg: Archimedes principles- which never
change
However, managerial principles change with
the need of hour- could be due to internal or
external market forces
eg: Jet Airways - retrenchment issue
Principles Of Management (Anand Choudhary) 5
6. What is Management ?
What do we mean by “Manage” &
“Management”?
Who is responsible for Management?
What does a manager do?
Why is management required?
Principles Of Management (Anand Choudhary)
6
7. What is Management ?
“Manage” & “Management”
Manage:
Art of getting things done
Actions performed in pursuit of a objective/goal
eg; "Who is overseeing this project?“
Management:
Act of Managing an objective/goal (Project Manager)
People/Technique/ Practice involved in managing or
controlling
Who is responsible for Management?
Each and everyone in responsible
Principles Of Management (Anand
Choudhary) 7
8. What is Management ? (contd)
What does a manager do?
The one who manages the operations and has
all the required organized knowledge of
science..i.e :POM
Why is management required?
To attain desired objective with minimum cost
and optimum use of resources
Simplify complexities through :plan, direct, act ,
control
Principles Of Management (Anand
Choudhary) 8
9. Definition of Management
Management is a process
of
Forecasting
Planning
Organizing
Controlling
various activities, people,
products etc. to
achieve a desired goal in the
best and the
cheapest way
Principles Of Management (Anand Choudhary)
9
10. Class Exercise
Open a retail mobile shop in a small
town with post sales services from the
same outlet. (Assume the shop space could be
provided at a location of preference)
1. Define your requirements
2. Manage Operations
3. What ‘s Next??... post step 2
Let us discuss the approach!!
Principles Of Management (Anand Choudhary)
10
11. Functions of Management
Observation
Key elements in the process
Planning –Know the objective then plan for
What, When, How and Why and at what cost
Organized- How is work distributed.
Departments /Sections
Staffing –Right person at right place
Communication- Internal/External
Co-ordinate, control and direct
Motivation
Decision making
These are all management functions
Principles Of Management (Anand Choudhary) 11
12. Characteristics Of Management (contd)
It is an ACTIVITY and an ART of getting things
done using logical, personal skills. Manager
must posses the required scientific knowledge
to be able to deliver the expectations
It is a continuous process . Management cannot
be static
Management is the mirror of the organizations
leadership quality
Linked to defined objectives/goals mainly to
maximize profit
Principles Of Management (Anand Choudhary)
12
13. Characteristics Of Management (contd)
Required universally across all industries
and departments , levels
Management is a must for every
enterprise
Every business needs a direction- This is
given by management
Management is the decision making
engine
Principles Of Management (Anand Choudhary)
13
14. Characteristics Of Management
Art as well as science Maximizing Profit
Management is an activity Decision Making
Continuous Process Profession
Achieving Pre-Determined Universal Application
Objectives Getting things done
Organized Activities Team work
Factor of Production Management as a career
System of activity Direction & Control
Management is a discipline Dynamic
Purposeful Activity Needed at all levels
Distinct Entity Leadership quality
Principles Of Management (Anand Choudhary) 14
16. Definition of Manager
A Manager is a person who
Plans
Organizes
Leads and controls human, financial and
information resource etc
in the most efficient and effective pursuit
of specified organizational goal.
Principles Of Management (Anand Choudhary)
16
17. Qualities of a Manager
Intellectual skills
Technical skills
Human Skills
Ethical skills
Interactive skills
Emotional skills
Communication
skills
Principles Of Management (Anand Choudhary)
17
18. Qualities of a Manager (contd)
Intellectual skills
Logical thinking
Able to understand the impact/s of
problem and probable causes
Problem solving
Ability to breakdown problem statement
into issues and identify the cause in order
to solve it
Principles Of Management (Anand Choudhary)
18
19. Qualities of a Manager (contd)
Technical skills
Ability
to guide and train team member to
perform a task
Must posses t he required technical skill set
to be able to take informed decisions
Technical
skills helps the manager
understand the areas of impact
Principles Of Management (Anand Choudhary)
19
20. Qualities of a Manager (contd)
Human Skills
Ethical Skills
Ability to discriminate right and wrong
Interactive skills
Effective communicator
Few skills – Influencing, motivation,
bargaing, discipline, conflict Resolution
Principles Of Management (Anand Choudhary)
20
21. Qualities of a Manager (contd)
Emotional Skills
Manager needs to manage people –Hence
must be emotionally smart
Must be able to have good interpersonal
relation
Ability to identify and handle feeling and
channelize the emotional energy into
motivation to drive towards the objective
Principles Of Management (Anand Choudhary)
21
22. Qualities of a Manager (contd)
Communication Skills
Understand what to communicate , when , to
whom
Medium of communication : When to
email/call/ personal meet etc.
Principles Of Management (Anand Choudhary)
22
23. ‘M’s of any business
MANAGEMENT
MAN MONEY
MATERIALS MACHINES
METHOD MOTIVATION
MARKETS
Management is on TOP!!
Principles Of Management (Anand Choudhary)
23
24. Importance Of Management
Management has to Accomplish Group
goals
Optimum Use of resources
Realignment of business model/unit
Quality of decision impact performance
Integrate various interests
Ensure organizations stability
Counter Changes – Internal & external
Internal- Attrition
External- Changes caused due to market
conditions (US slowdown impact on IT and
exports)
Principles Of Management (Anand Choudhary)
24
25. Importance Of Management ..(contd)
Effective utilization of business
Management directs the organization
Day-day functioning
Tackle problems to enhance performance
Ensure harmony between internal teams
(workers) and external forces (customers ,
vendors)
Resource development
Drive innovation
Principles Of Management (Anand Choudhary)
25