management science - vidya jyothi institute of...
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MANAGEMENT
SCIENCE
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UNIT-I
Introduction
To
Management
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INDEX
UNIT 1 PPT SLIDES
S.NO. TOPIC LECTURE NO.
1. Introduction to Management L1
2. Concepts of Management of Organiztion L2
3. Importance L3
4. Taylor‟s Scientific L4
5. FUNCTIONS OF MANAGEMENT L5
6. Fayol‟s Principle of Management L6
7. Mayo‟s Hawthorne Experiments L7
8. Maslow‟s theory of Human NeedsS L8
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DEFINITION
Henri Fayol(1916):To manage is to
forecast and plan ,to organize, to command, to coordinate and control
Peter. F. Drucker(1955):Management is concerned with the systematic organization of economic Resources and its task is to make these resources productive.
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Nature and Features
Management is a social process
It also denotes a „a body of people‟ involved in decision making
It is inexact science
It is an art and also science
It is profession
It is inter-disciplinary
It is complex
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IMPORTANCE
It facilitates the achievements of goals through limited resources
It ensures smooth sailing in case of difficulties
It ensures continuing in the organization
It ensures economy and efficiency
It focus on group efforts
It is the key to the economic growth
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Taylor’s Scientific Management
Theory
F.W.Taylor –Father of Scientific Management
Taylor demonstrated the benefits of increased productivity and earnings through an experiment at “Bethlehem Steel Works”.
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FUNCTIONS OF
MANAGEMENT According to Luther Gullick
P-----Planning
O------Organizing
S-----Staffing
D----Directing
Co---Coordinating
R---Reporting
B---Budgetting
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Fayol’s Principle of
Management Henri Fayol contributed 14 principles to
management
1. Division of Work
2. Authority
3. Discipline
4. Unity of command
5. Unity of direction
6. Subordination of individual interest to group interest
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Fayol’s Principle of
Management
7.Remuneration
8.Centralization of authority
9.Scalar chain
10.Order
11.Equity
12.Stability of tenure of personnel
13.Initiative
14.Espirit de corps (Team work)
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Mayo’s Hawthorne Experiments
Mayo known for his famous experiment at Hawthorne plant of the western electric company, Chicago, USA, for evaluating the attitudes and Psychological reaction of workers on the job situations.
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Maslow’s theory of Human NeedsS
According to him humans have 5 needs
1. Physiological needs
2. Safety needs
3. Affiliation or acceptance needs
4. Esteem needs
5. Self-actualisation needs
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Douglas McGregor’s Theory X and
Theory Y
Theory X: Assumptions
1. Employees are lazy
2. They require constant guidance and support
3. Some times they require even coersion and control
4. Given an opportunity they would like to avoid responsibility
5. They do not show any ambition but always seak security
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Theory YAssumptions:
1. Some employees consider work as natural as play as rest
2. They employees are capable of directing and controlling performance on their own. They are much committed to objectives of the organization.
3. Higher rewards make these employees more committed to organization.
4. Most of them are highly imaginative, creative, and display ingenuity in handling organizational issues.
5. Give an opportunity , they not only accept responsibility but also look for opportunities to out perform others.
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Herzberg’s Two Factor Theory of
Motivation
Herzberg developed 2 factors:
1. Hygiene Factors: These are the basic requirements such as company policies and procedures.
2. Motivators Factors: The other set comprising motivators refers to the higher order needs.
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System Approach
A System is a collection of interrelated
parts called sub-systems, which constituteone whole unit. It facilitates the study ofeach of these parts in detail to have aclose understanding of the whole system.
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Leadership Styles
Leader: One who leads a given group or team of people.
Leadership: It is an ability toinfluence people to achieve the givengoals in an organisation.
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Types of Leadership
Based on the use of authority the
leadership is divided into 3 types.
1. Autocratic leadership
2. Democratic or Participative leadership
3. Free-Rein Leadership
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Social Responsibilities
It refers to the process which includes several activities ranging from providing safe products and services to giving portion of the company‟s profits to welfare with a philanthropic perspectives.
1. Responsibility towards shareholders.
2. Responsibility towards consumers.
3. Responsibility towards employees.
4. Social Responsibility towards creditors.
5. Responsibility towards the Government, competitors, General public.