Nature and Concept of Management Flashcards
Coordination of all resources through the process of
planning, organizing, directing, and controlling
what you want to do and then seeing that it is done in the
best and cheapest way
Art of knowing
Managing the business, including managers and workers,
consists in?
guiding human and physical resources
What are the Objectives of Management?
Organizational Objectives, personal objectives, and social objectives
reasonable profits, survival and growth of business, improving the goodwill of the enterprise, etc.
organizational objectives
fair remuneration for work performed, reasonable working conditions, opportunities
for training and development, reasonable security of service, etc.
personal objectives
quality of goods and services at fair price to customers, honest and prompt payment
of taxes, conservation of environment and natural resources, preservation of ethical
values of the society, etc.
social objectives
what are the Management Process
Characteristics?
Management is a process of continuing related activities, Management is about involving and concentrating on
organizational goals, and Management achieves the organizational goals by working with
people and organization resources
refer to activities and processes such as marketing,
finances and purchases,
operational functions
operational functions refer to activities and processes such as ?
marketing,
finances and purchases,
about a dynamic process, with a number of elements
and activities as part of the process
management
What are the management functions?
planning, organizing, staffing, directing, and controlling
This is the process of setting the objectives to be accomplished by an
organization during a future time period and deciding on the methods of
reaching them.
Planning
It is the process of identifying, subdividing, grouping, assigning
and coordinating activities and providing the necessary authority to
carry out the activities.
organizing
It is the process of recruitment, selection, assignment, training
and development of the various kinds of human resources required
by the organization.
staffing
The process of communicating with and influencing
subordinate towards the achievement of organizational goals.
directing
The functions of monitoring performance and undertaking
corrective actions to ensure the attainment of predetermined goals
and objectives of the organization.
controlling
Is it tru that we can safely state that no single theory of management
is universally ac cepted today?
Yes
What are the f ive
di f ferent approaches to management?
- the universal process approach,
- the operational approach,
- the behavioral approach,
- the systems approach, and
- the contingency approach.
is the oldest and one of
the most popular approaches to management thought
the universal process approach
also known as the universalist or functional approach.
the universal process approach
The universalist approach is based on two main
assumptions
First , successful managers are assumed to be
inter changeable among organizations of differing purpose.
The second assumpton is that universal management
process can be reduced to a set of separate functions and
related principles.
What is Henri fayol’s book called?
Administration Industrielle et generale
f ive func t ions, or areas, of managerial responsibili ty
planning, organizing, command, coordination, and control
spec ializat ion of labor is necessary for
organizat ional suc cess.
division of work
the right to give orders must ac company
responsibili ty. Fayol sees authori ty as a combinat ion of
of f i c ial fac tors composed of intelligence, moral wor th and
experience.
authority
obedience and respec t help an organizat ion run
smoothly.
discipline
each employee should receive orders
f rom only one superior.
unity of command
the ef for ts of everyone should be
coordinated and focused in the same direc t ion.
unity of direction
resolving the tug of war between personal and
organizat ional interest in favor of the organizat ion is one of
management ’s greatest di f f i cul t ies.
6.Subordinat ion of Individual Interest to the General
Interest
“Equal work, and pay.
remuneration
“produce the best overall yield.
centralization
“chain of superiors”
scalar chain
both material things and people should be in their
proper places.
order
fairness that resul ts f rom a combinat ion of
kindliness and just i ce will lead to devoted and loyal servi ce.
equity
people need t ime to
learn their jobs.
stability and tenure of personnel
“sac ri f i ce personal vani ty”
initiative
“in uni ty, there
is st rength.
esprit de corps
is a convenient description of the
production oriented area of management dedicated to improving
efficiency, cutting waste, and improving quality
the operational approach
to management point out that people deserve to be the
central focus of organized activity.
the behavioral approach
is a collection of parts operating interdependently
to achieve a common purpose.
the system approach
Is an effort to determine through research which managerial
practices and techniques are appropriate in specific
situations.
the contingency approach
involves determining organizational goals and a means for
achieving them.
planning
is deciding where decisions will be made, who will do what jobs
and tasks, and who will work for whom in the company.
organizing
involves inspiring and motivating workers to work hard to achieve
organizational goals
leading
is monitoring progress toward goal achievement and taking
corrective action when progress is not being made.
controlling