Principal of magaement is good fundamentals in economics
- 1. RAMKRISHNA MAHATO GOVERNMENT ENGINEERING COLLEGE, PURULIA Name: Iman Kundu Roll No.: 35001622029 Subject: Principle of Management Subject code: HM-EE 701 Semester: 7th Year: 4th Session: 2022-2026 Department of Electrical Engineering
- 2. Topic for CA1 Management – An overview in Indian Context CONTENTS- Definition of management Objectives of Management Process of management Significance of management Levels of management Advantages and Limitations of Management Examples in Indian context
- 3. Definition of Management : Management is the process of planning, organizing, leading, and controlling the efforts of organizational members and the use of organizational resources to achieve specific goals.
- 4. Is Management a Profession? Management shares several characteristics with professions like a body of knowledge, training, professional associations, and a service motive. However, it differs from established professions as there's no single, legally enforceable code of conduct or restricted entry based on exams. Management is increasingly becoming more professional, with a growing need for formally educated managers.
- 6. Process of Management (Functions): Management as a Process: Management is a continuous process involving interrelated functions performed by managers. Planning:- Setting objectives and actions to achieve goals. Organizing:- Establishing structure and assigning tasks. Staffing:- Recruiting and developing personnel. Directing(or Leading):- Guiding and motivating people. Controlling:- Monitoring performance and taking corrective action.
- 7. Significance of Management: Achieving Group Goals:- Provides direction for collective efforts. Increases Efficiency:- Optimizes resource use to reduce costs. Creates a Dynamic Organization:- Helps adapt to change and maintain competitiveness. Achieving Personal Objectives:- Fosters teamwork for individual goal attainment. Development of Society:- Contributes through quality products, employment, and innovation.
- 8. Levels Of Management: ❖ 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 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: 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.
- 9. Advantages and Limitations of Management: Advantages of Management: Goal Achievement: Ensures objectives are met through planning and resource allocation. Optimum Use of Resources: Efficiently utilizes available resources. Provides Stability: Helps organizations adapt to changes. Promotes Innovation: Encourages new ideas and dynamism. Tackles Business Problems: Provides skills to handle challenges. Limitations of Management: Human Limitations: Managers have inherent limitations in knowledge and experience. Time Constraints: Limited time for decision-making. Resource Constraints: Limited finances, manpower, and technology. Changing Environment: Challenges from external factors like economy and market trends. Resistance to Change: Opposition from employees and stakeholders. Communication Barriers: Misunderstandings due to poor communication.
- 10. Management in the Indian Context: Hierarchy and Respect: Indian organizations often have a hierarchical structure where managers are treated with high respect and authority. Relationship-oriented: Building strong relationships with employees is crucial, and managers often prioritize employee well-being and family commitments. Ethos and Values: Indian ethos, emphasizing values like self-purification, collective growth, and teamwork, can influence management practices. Adaptability: Managers in India need to be flexible and adaptable, considering cultural nuances and work-life balance.
- 11. Specific Examples: Tata Group: Known for its strong emphasis on ethical business practices and employee welfare, the Tata Group demonstrates a management style that balances traditional Indian values with modern business principles, according to people management. Mahindra & Mahindra: This company has a strong focus on employee empowerment and a participative management style, where employees are encouraged to contribute to decision-making.
- 12. Thank you