Pharmaceutical Business Management

Presented by:

Pristyn Research Solutions

www.pristynresearch.com

Learning Objectives

Management As Science & Art

Development Of Management Thoughts

Contribution Of Scientist In Modern Management

Characteristics Of Management

WHAT IS MANAGEMENT

Management is a wide ranging concept and human instinctual activity which Plans, Organize, Directs, Co-Ordinates, Controls, Motivates and Decides about “use of human and other resources to attain organizational objectives.

Management As Science & Art

WHY?Because….

Science: Now a days certain basic principals of management

have evolved in the form of process of management

which has universal application.

Art: It involves human beings and their behavior.

Development Of Management Thoughts &

Contribution Of Scientist….

History has full of records describing the awareness of management skills

practices from ancient era.

Like,

Egyptian literature 1300 B.C clearly describe the importance organization

and administration.

The existence of Athenian commonwealth with its council, courts ,

administration and board of generals indicates the existence of management

practices in Greece.

Similar records found in China and Roman

The evolution of management thoughts during this period can

be studies in three parts as:

Early Classical Approaches Neo- Classical Approaches Modern Approaches

• Scientific Management

• Administrative Management

• Human Relationship

• Behavioral approaches

• Quantitative Approaches

• System Approaches

1) James Watt 1769-1848

2) Mathew Robinson 1770-1842

3) Robert Owen 1771-1858

4) Charles Babbage 1792-1871

5) Henry Robinson 1844-1924

6) Frederick Winslof Taylor 1856-1915

7) Henry Feyol 1841-1925

8) Mary Parker 1868-1933

9) Peter F. Drucker 1905-2005

Frederick Winslof Taylor 1856-1915

Fath

er of

Scien

tific

Man

agem

ent

Applied Scientific methods to Factory problems and urged on proper use of human labor .

Published principals of Scientific Management -1909.

Career: Executive, consultant, production specialist , efficiency expert ,

Taylor four key goals:.

1) To develop as science of management

2) To select workers scientifically

3) To educate and train workers scientifically

4) To create cooperation between management and labor.

Henry Feyol 1841-1925

Unive

rsal

Func

tions

and p

rincip

als

1) Plan

2) Organize

3) Command

4) Coordinate

5) Control

Henry Feyol’s Five functions of Management

Union is strength

Peter F. Drucker

Fath

er of

Man

agem

ent

Setting objectives : Peter F. Drucker has focused on setting up an objectives for the organization. He suggested that every organization should have basic and important objectives.He contributed marketing innovation, human organization, financial resources, physical resources, productivity, social responsibility and requirement of profit are the objectives of the organization. To capture and survive in the market, society, financial market, minimization of cost of production, maximization of output and management by objectives (MBO’s) are important.

Organizing responsibility and practice : Peter F. Drucker has contributed to organize responsibility and effective practices are very much essential in management. For effective delegation of authority, one should determine the responsibility of unskilled, semi skilled and skilled employees. He has contributed span of control and span of management responsibilityfor effective management. The book, “Concept of the Corporation” has narrated that management was not for a rank or a title but for responsibility, practice and discipline, that can be taught and must be studied just like other discipline. In brief, he has contributed that, “Management as a Discipline”, which is very much required for effective management.

Motivation and Communication : To get things done from others, proper motivation and effective communication is required

Measurements of performance of knowledge : Peter F. Drucker has focused in his two books viz. The age of Discontinuity and Managing for Result that “Knowledge is the Business”. He focused that use of information for completion of specific work is called as knowledge and measuring the performance of knowledge become essential.

Developing people : ‘Get it done’ is the basic philosophy of management, where developing the people is required. Peter F. Drucker has focused on development of people who are the real instruments for mobilizing other resources in an organization.

Characteristics Of Management

Determines objectives of organization

Process of converting resources into productivity

Integrates Men, Machine, Money and material to carry out various

operations

Provide sense of satisfaction

Makes work more objective oriented

Social process which improves the quality of life

It is science of wealth creation

It prepares the organization to meet the challenges

It is an art as well as science

Thank You