pme(lec 01)
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basics of principles of management and economicsTRANSCRIPT
Lecture-01Principles of Management and
EconomicsRGIIIT, B.Tech (IT) 2ND Semester
PresentedBy
MONARK BAGLecturer
Indian Institute of Information Technology, Allahabad
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Learning Objectives
• Define Managers And Management.
• Explain What Managers Do.
• Describe The Competencies Used In Managerial Work And Assess Your Current Competency Levels.
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Management: A Competency Base Approach
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Introductory Concepts: What AreManagerial Competencies?
Competency – a combination of knowledge, skills, behaviors, and attitudes that contribute to personal effectiveness
Managerial Competencies – sets of knowledge, skill, behaviors, and attitudes that a person needs to be effective in a wide range of positions and various types of organizations
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Why are Managerial Competencies Important?
You need to use your strengths to do your best
You need to know your weaknesses
You need developmental experiences at work to become successful leaders and address your weakness
You probably like to be challenged with new learning opportunities
Organizations do not want to waste human resources
Globalization deregulation, restructuring, and new competitors add to the complexity of running a business
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A Model of Managerial Competencies
TeamworkCompetencyTeamwork
Competency
GlobalAwareness
Competency
GlobalAwareness
Competency
StrategicAction
Competency
StrategicAction
Competency
Planning andAdministrationCompetency
Planning andAdministrationCompetency
Self-ManagementCompetency
Self-ManagementCompetency
CommunicationCompetency
CommunicationCompetency
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A Model of Managerial Competencies
TeamworkCompetencyTeamwork
Competency
GlobalAwareness
Competency
GlobalAwareness
Competency
StrategicAction
Competency
StrategicAction
Competency
Planning andAdministrationCompetency
Planning andAdministrationCompetency
Self-ManagementCompetency
Self-ManagementCompetency
CommunicationCompetency
CommunicationCompetency
ManagerialEffectivenessManagerial
Effectiveness
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What Is An Organization?
A formal and coordinated group of people who function to achieve particular goals
These goals cannot be achieved by individuals acting alone
An organization has a structure.
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ManagementManagementOrganization
Two or more people who work together in a structured way to achieve a specific goal or set of goals.
Goals
Purpose that an organization strives to achieve; organizations often have more than one goals, goals are fundamental elements of organization.
The Role of Management
To guide the organizations towards goal accomplishment.
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- People responsible for - People responsible for directing the efforts aimed directing the efforts aimed at helping organizations at helping organizations achieve their goals. achieve their goals.
- A person who plans, - A person who plans, organizes, directs and organizes, directs and controls the allocation of controls the allocation of human, material, financial, human, material, financial, and information resources and information resources in pursuit of the in pursuit of the organization’s goals.organization’s goals.
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Management
Management refers to the tasks and activities involved in directing an organization or one of its units: planning, organizing, leading, and controlling.
The process of reaching organizational goals by working with and through people and other organizational resources.
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Functional Managers: A manager responsible for just one organizational activity such as accounting, human resources, sales, finance, marketing, or production
Focus on technical areas of expertise
Use communication, planning and administration, teamwork and self-management competencies to get work done
Function: A classification referring to a group of similar activities in an organization like marketing or operations.
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General Managers: responsible for the operations of more complex units—for example, a company or division
Oversee work of functional managers
Responsible for all the activities of the unit
Need to acquire strategic and multicultural competencies to guide organization
(cont’d)
Many Other types of managers
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Basic Managerial Functions
OrganizingOrganizing
PlanningPlanning
ControllingControlling
LeadingLeading
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Management Process and Goal Attainment
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Management and Organizational Management and Organizational ResourcesResources
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Planning Planning involves tasks involves tasks that must be performed to that must be performed to attain organizational goals, attain organizational goals, outlining how the tasks outlining how the tasks must be performed, and must be performed, and indicating when they indicating when they should be performed.should be performed.
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Planning
Determining organizational goals and means to reach them
Managers plan for three reasons
1. Establish an overall direction for the organization’s future
2. Identify and commit resources to achieving goals
3. Decide which tasks must be done to reach those goals
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Organizing means assigning the planned tasks to various individuals or groups within the organization and cresting a mechanism to put
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Organizing
Process of deciding where decisions will be made, who will perform what jobs and tasks, and who will report to whom in the company
Includes creating departments and job descriptions
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Leading (Influencing) means guiding the activities of the organization members in appropriate directions. Objective is to improve productivity.
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Leading
Getting others to perform the necessary tasks by motivating them to achieve the organization’s goals
Crucial element in all functions
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1. Gather information that measures recent performance1. Gather information that measures recent performance2. Compare present performance to pre-established standards2. Compare present performance to pre-established standards3. Determine modifications to meet pre-established standards3. Determine modifications to meet pre-established standards
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Controlling
Process by which a person, group, or organization consciously monitors performance and takes corrective action
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Basic Levels of Management
Top Managers
Middle Managers
First-Line Managers
Non managers
Top Managers
Middle Managers
First-Line Managers
Non managers
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Levels of Management
• First-line Managers: have direct responsibility for producing goods or services Foreman, supervisors, clerical supervisors
• Middle Managers:– Coordinate employee activities
– Determine which goods or services to provide
– Decide how to market goods or services to customers
Assistant Manager, Manager (Section Head)
• Top Managers: provide the overall direction of an organization Chief Executive Officer, President, Vice President
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First-line Managers
Directly responsible for production of goods or services
Employees who report to first-line managers do the organization’s work
Spend little time with top managers in large organizations
Technical expertise is important
Rely on planning and administration, self-management, teamwork, and communication competencies to get work done
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Middle Managers
Responsible for setting objectives that are consistent with top management’s goals and translating them into specific goals and plans for first-line managers to implement
Responsible for coordinating activities of first-line managers
Establish target dates for products/services to be delivered Need to coordinate with others for resources Ability to develop others is important Rely on communication, teamwork, and planning and
administration competencies to achieve goals
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Top Managers
Responsible for providing the overall direction of an organization
Develop goals and strategies for entire organization
Spend most of their time planning and leading
Communicate with key stakeholders—stockholders, unions, governmental agencies, etc., company policies
Use of multicultural and strategic action competencies to lead firm is crucial
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Management Level and SkillsManagement Level and Skills
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Six Core Managerial Competencies:What It Takes to Be a Great Manager
Communication Competency
Planning and Administration Competency
Teamwork Competency
Strategic Action Competency
Multicultural Competency
Self-Management Competency
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Communication Competency
Ability to effectively transfer and exchange information that leads to understanding between yourself and others
Informal Communication Used to build social networks and good
interpersonal relations
Formal CommunicationUsed to announce major events/decisions/
activities and keep individuals up to date
NegotiationUsed to settle disputes, obtain resources,
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Deciding what tasks need to be done, determining how they can be done, allocating resources to enable them to be done, and then monitoring progress to ensure that they are done
Information gathering, analysis, and problem solving from employees and customers
Planning and organizing projects with agreedupon completion dates
Time management
Budgeting and financial management11/01/2012 33Indian Institute of Information Technology, Allahabad
Accomplishing tasks through small groups ofpeople who are collectively responsible andwhose job requires coordination
Designing teams properly involves havingpeople participate in setting goals
Creating a supportive team environment gets people committed to the team’s goals
Managing team dynamics involves settlingconflicts, sharing team success, and assign tasksthat use team members’ strengths
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Strategic Action Competency
Understanding the overall mission and values of the organization and ensuring that employees’ actions match with them
Understanding how departments or divisions of the organization are interrelated
Taking key strategic actions to position the firm for success, especially in relation to concern of stakeholders
Leapfrogging competitors
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Snapshot
“Sony must sell off businesses that don’t fit its core strategy of fusing gadgets with films, music, and game software. That means selling off its businesses in its Sony Financial Holdings, which are very profitable.”
Howard Stringer, CEO, Sony
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Understanding, appreciating and responding to diverse political, cultural, and economic issues across and within nations
Cultural knowledge and understanding of the events in at least a few other cultures
Cultural openness and sensitivity to how others think, act, and feel
Respectful of social etiquette variations
Accepting of language differences
Multicultural Competency
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Self-Management Competency
Developing yourself and taking responsibility
Integrity and ethical conduct
Personal drive and resilience
Balancing work and life issues
Self-awareness and personal development activities
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Snapshot
“My strengths and weaknesses haven’t changed a lot in 51 years. The important thing is to recognize the things you don’t do well and build a team that reflects what you know the company needs.”
Anne Mulcahy, CEO, Xerox
Self-Management Competency
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Learning Framework for Managing
Part I: Overview of Management
Part II: The Challenges of Management
Part III: Planning and Control
Part IV: Organizing
Part V; Leading
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Text Books
1. Management , Stoner et al(PHI)
2. Management- A global Perspective, Weihrich and Koontz(TMH)
3. Management: Text and cases , R.Satya Raju and A. Parthasarathi (PHI)
4. Fundamentals of Management , Robins and DeCenzo (PHI)
5. Management, Bartol and Martin(McGraw-Hill)
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