Syllabus For The Subject Principles of Management

PRINCIPLES OF MANAGEMENT

 

 

About the Tutorial .......................................................................................................................................... i

Audience ......................................................................................................................................................... i

Prerequisites ................................................................................................................................................... i

Disclaimer & Copyright ................................................................................................................................... i

Table of Contents........................................................................................................................................... ii

MANAGEMENT – INTRODUCTION ............................................................................................... 1

1. Management – Overview ........................................................................................................................ 2

What is Management? .................................................................................................................................. 2

Management Defined .................................................................................................................................... 3

Is Management an Art or a Science? ............................................................................................................. 4

2. Management – Role of Managers ........................................................................................................... 5

Role of Managers ........................................................................................................................................... 6

The Changing Roles of Management and Managers ..................................................................................... 7

Mintzberg’s Set of Ten Roles ......................................................................................................................... 8

Managerial Skills ............................................................................................................................................ 9

3. Management – The P-O-L-C Framework ................................................................................................ 11

Planning ....................................................................................................................................................... 11

Organizing .................................................................................................................................................... 12

Leading......................................................................................................................................................... 13

Controlling ................................................................................................................................................... 13

MANAGEMENT – EVOLUTION & TRENDS .................................................................................. 15

4. Management – Classical Schools of Thought ......................................................................................... 16

Classical School of Management Thought ................................................................................................... 16

Henry Fayol’s Universal Process Theory ...................................................................................................... 18

Behavioral and Human Relations Approach ................................................................................................ 19

5. Management – Modern Schools of Thought ......................................................................................... 21

Chester Barnard and Social Systems Theory ............................................................................................... 21

Contingency Approach and Recent Contributions ...................................................................................... 22

Quality School of Management ................................................................................................................... 23

Kaizen Approach .......................................................................................................................................... 24

Reengineering Approach ............................................................................................................................. 25

Future of Management................................................................................................................................ 26

MANAGEMENT – ECOSYSTEM .................................................................................................. 27

6. Management – The Management Environment .................................................................................... 28

The Management and Administration Inter-Relationship ........................................................................... 29 Principles of Management

iii

 

7. Management – Factors Affecting Management .................................................................................... 30

Macro Environment (Outer Environment) .................................................................................................. 31

Micro Environment (Inner Environment) .................................................................................................... 33

8. Management – Management Organization ........................................................................................... 35

9. Management – Leadership Styles .......................................................................................................... 37

Leadership Styles ......................................................................................................................................... 38

Leadership Continuum................................................................................................................................. 39

Leadership Styles in Managerial Grid .......................................................................................................... 40

Systems of Management ............................................................................................................................. 42

MANAGEMENT – FRAMEWORK ................................................................................................ 44

10. Management – Mission, Vision, & Values ............................................................................................. 45

Role Played by Mission and Vision .............................................................................................................. 47

Values .......................................................................................................................................................... 48

Stakeholders ................................................................................................................................................ 48

Identification of Key Stakeholders ............................................................................................................... 50

11. Management – Personality & Attitude .................................................................................................. 52

Role of Personality and Attitude in Organization ........................................................................................ 52

Importance of Personality ........................................................................................................................... 52

Personality Traits ......................................................................................................................................... 52

The Big 5 Personality Traits ......................................................................................................................... 53

Other Personality Traits – Self Variables ..................................................................................................... 56

12. Management – Work Attitude and Behavior ......................................................................................... 57

Positive Work Attitude ................................................................................................................................ 57

Job Satisfaction ............................................................................................................................................ 57

Organizational Commitment ....................................................................................................................... 57

MANAGEMENT – DECISION MAKING ........................................................................................ 60

13. Decision Making – Nature and Significance ........................................................................................... 61

Types of Decisions ....................................................................................................................................... 61

14. Management – Factors Affecting Decision Making ................................................................................ 63

15. Decision Making – Styles ....................................................................................................................... 66

16. Decision Making – Tools ........................................................................................................................ 67

MANAGEMENT – PLANNING ..................................................................................................... 69

17. Planning – Introduction ......................................................................................................................... 70

What is Planning? ........................................................................................................................................ 70 Principles of Management

iv

 

Importance of Planning ............................................................................................................................... 71

18. Management – Types of Plans ............................................................................................................... 73

Strategic Plans ............................................................................................................................................. 73

Tactical Plans ............................................................................................................................................... 74

Operational Plans ........................................................................................................................................ 74

19. Management – The Planning Environment ........................................................................................... 75

Establishing Objectives and Goals ............................................................................................................... 75

Determining Alternatives............................................................................................................................. 76

Evaluating and Choosing Alternatives ......................................................................................................... 76

Creating Assignments and Timelines ........................................................................................................... 76

Formulating Derivative Plans ....................................................................................................................... 76

Budgeting ..................................................................................................................................................... 77

MANAGEMENT – ORGANIZATIONAL STRUCTURE ..................................................................... 78

20. Management – Importance of Organizing ............................................................................................. 79

Importance of Organizing ............................................................................................................................ 79

21. Management – Principles of Organizing ................................................................................................ 81

Work Specialization ..................................................................................................................................... 81

Authority ...................................................................................................................................................... 82

Chain of Command ...................................................................................................................................... 82

Delegation.................................................................................................................................................... 83

Span of Control ............................................................................................................................................ 83

22. Management – Organizational Structure .............................................................................................. 84

Common Organization Structures ............................................................................................................... 84

Functional Organization Structure ............................................................................................................... 85

Product Organizational Structure ................................................................................................................ 85

Geographic Organizational Structure .......................................................................................................... 86

Matrix Organizational Structure .................................................................................................................. 87

23. Management – The Organizational Process........................................................................................... 89

The Organizational Process Chart ................................................................................................................ 89

MANAGEMENT – CHANGE MANAGEMENT ............................................................................... 90

24. Management – Organizational Change ................................................................................................. 91

Why Organizations Need to Change ............................................................................................................ 91

25. Management – Organizational Change Factors ..................................................................................... 93

The Internal Environment ............................................................................................................................ 93

The External Environment ........................................................................................................................... 93

26. Management – Organizational Change Management ........................................................................... 95

Planning Organizational Change .................................................................................................................. 95 Principles of Management

v

 

Resistance to Changes ................................................................................................................................. 96

Impact of Change ......................................................................................................................................... 97

Overcoming Resistance to Change .............................................................................................................. 98

MANAGEMENT – GLOBALIZATION & ITS EFFECT ....................................................................... 99

27. Management – Multinational Organizations ....................................................................................... 100

What are MNCs? ........................................................................................................................................ 100

Types of Multinational Corporations ......................................................................................................... 101

28. Management – Global Ecosystem and its Impact ................................................................................ 102

Challenges Faced by International Managers ............................................................................................ 103

Overcoming Global Challenges .................................................................................................................. 103