Fundamentals of managment

1. Principles and Practice of
Management

2. Concept of Management
 Management as a discipline.
 Management as a group of people.
 Management as a process.

3. Management as a discipline
 Discipline refers to a field of study having well
defined concepts and principles
 Science : a systematically organized body of
knowledge based on proper findings and exact
principles and is capable of verification.
- cause and effect relationships
- universal application
- predictable results

4.  Art : it is the bringing about a desired result
through the application of skills.
- it denotes the personal skills
- it signifies practical knowledge
- it is creative in nature

5. Management as a group of
people
 Management is the art of getting things done
through people

6. Management as a process
 Management is simply the process of decision
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making and control over the action of human
beings for the expressed purpose of attaining predetermined goals.
Planning
Organizing
Directing
Controlling

7. Features of management
 Goal oriented
 Organized activity
 Relationship with resources
 Decision making

8. Functions of a manager
 Planning
- determination of objectives
- forecasting
- search of alternative course of action
- evaluation of various alternatives
- formulation of policies
- preparation of schedules, budgets

9. Organizing and staffing
 Manpower determination
 Recruitment , Selection, Placement, Induction
 Assignment of jobs to employees

10. Directing
 Communication
 Leadership
 Motivation
 Supervision

11. Controlling
 Establishment of standards
 Measurement of performance
 Taking corrective action

12. Levels of management
 Top level
 Middle level
 Low level

13. Managerial skills
 Technical skills
 Human skills
 Conceptual skills

14. Functional Areas of Management
 Production Management
 Marketing Management
 Financial Management
 Human Resource Management
 Materials Management