1) Definition of Management: Its Nature and Purpose Management of an organization is the process of establishing objectives and goals of the

organization periodically, designing the work system and the organization structure, and maintaining an environment in which individuals, working together in groups, accomplish their aims and objectives and goals of the organization effectively and efficiently. The above definition was a modification of the definition given by Koontz and O !onnell. The definition implies the following. "i# Management is a process. "ii# Management applies to every kind of organization, government, profit making, or nonprofit making. "iii# $t applies to managers at all levels in the organization. "iv#Management is concerned with effectiveness and efficiency. %ffectiveness is producing the product or service the customer wants in business conte&t with the re'uired functional benefits and product attributes at the price he is willing to pay. %fficiency is minimization of resources to produce the saleable output. Weirich and Koontz (eihrich and Koontz defined Management and e&plained it as follows in the tenth edition of their book Management) * +lobal ,erspective "p.-#. .Management is the process of designing and maintaining an environment in which individuals, working together in groups, efficiently and accomplish selected aims.. This definition needs to be e&panded) /.*s managers, people carry out the managerial functions of planning, organizing, staffing, leading, and controlling. 0. Management applies to any kind of organization. 1. $t applies to managers at all organizational levels. -. The aim of all managers is the same) to create a surplus. 2. Managing is concerned with productivity3 this implies effectiveness and effciency. 2) Mission and Vision of Management *n organizational mission is an organization s reason for e&istence. $t often reflects the values and beliefs of top managers in an organization. * mission statement is the broad definition of the organizational mission. $t is sometimes referred to as a creed, purpose, or statement of corporate philosophy and values. * good mission statement inspires employees and provides a focus and direction for setting lower level objectives. $t should guide employees in making decisions and establish what the organization does. Mission statements are crucial for organizations to prosper and grow. .

The mission also provides meaning to the organization by stating not only what goals the company wants to achieve but also why it wants to achieve these goals. $t is not effective unless it is challenging and forces workers to establish goals and means to measure the achievement of those goals. * mission should inspire employees and get them involved in the organization. $t has been called the glue that holds the organization together through shared values and standards of behavior. * mission should be relevant to the history, culture, and values of the company. * mission is worthless unless it has the support of the employees in the organization. $t will only be successful if each employee commits to its success and internalizes it. Vision 4ision is the foundation for the mission statement. The vision provides a strategic direction, which is the springboard for the mission and its related goals. * vision differs from a mission. 4isions are a view of what an organization is striving to become. 4ision are a glimpse into the future, they are often not realized for several years. 3) !"#$%IV# The main objectives of management are) &etting Ma'imum (esu)ts *ith Minimum #fforts 5 The main objective of management is to secure ma&imum outputs with minimum efforts 6 resources. Management is basically concerned with thinking 6 utilizing human, material 6 financial resources in such a manner that would result in best combination. This combination results in reduction of various costs. Increasing the #fficienc+ of factors of Production 5 Through proper utilization of various factors of production, their efficiency can be increased to a great e&tent which can be obtained by reducing spoilage, wastages and breakage of all kinds, this in turn leads to saving of time, effort and money which is essential for the growth 6 prosperity of the enterprise. Ma'imum Prosperit+ for #mp)o+er , #mp)o+ees 5 Management ensures smooth and coordinated functioning of the enterprise. This in turn helps in providing ma&imum benefits to the employee in the shape of good working condition, suitable wage system, incentive plans on the one hand and higher profits to the employer on the other hand. -uman .etterment , /ocia) "ustice 5 Management serves as a tool for the upliftment as well as betterment of the society. Through increased productivity 6 employment, management ensures better standards of living for the society. $t provides justice through its uniform policies.

0) &oa) of management 7reate and track 8pecific, Measurable, *chievable, 9esults5Oriented and Time 8ensitive goals "8M*9T# / for /pecific: There are several key factors which should be present in the objectives that are set in order for them to be effective. They should be specific. $n other words, they should describe specifically the result that is desired. $nstead of .better customer service score,. the objective should be .improve the customer service score by /0 points using the customer service survey.. M for Measura.)e: The second e&ample is much more specific and also addresses the second factor:measurable. $n order to be able to use the objectives as a part of a review process it should be very clear whether the person met the objective or not. 1 for 1chie2a.)e: The ne&t important factor to setting objectives is that they be achievable. ;or instance, an objective which states ./<< percent customer satisfaction. isn t realistically achievable. $t s not possible to e&pect that everyone must be /<< percent satisfied with their service. * goal of ./0 percent improvement in customer satisfaction. is better:but may still not be achievable if it s assigned to the database developer. They aren t likely to have enough influence over the customer interaction process to improve satisfaction by /0 percent. ( for (ea)istic: This leads into the ne&t factor:realistic. 9ealistic objectives are objectives that recognize factors which can not be controlled. 8aid another way, realistic goals are potentially challenging but not so challenging that the chance of success is small. They can be accomplished with the tools that the person has at their disposal. % for %ime3.ased: The final factor for a good objective is that it is time5based. This is the final anchor in making the objective real and tangible. This final factor is often implied in M=O setting. The implied date is the date of the ne&t review, when the employee will be held accountable for the commitments that they ve made through their objectives.

4) 5unctions of Management or Management 5unctions The process of management can be better understood by breaking it down into the five basic functions of a manager > planning, organizing, resourcing, leading and controlling. *ll the management concepts, principles, theories and techni'ues can be grouped under these five functions. Management 5unctions at Different rganizationa) 6nit 7e2e)s: *ll managers carry out managerial functions. ?owever the proportion of time spent for each function may differ from level to level. The top managers may spend more time on planning in choosing the corporate objectives and business unit objectives and in developing

the work system and the organization structure. The first level supervisors may spend more time in leading the staff under them and in doing operational control. Management consists of the functions given below. $t is based on ?enri ;ayol s thinking on the functions of management. /. P)anning: generating plans of action for immediate, short term, medium term and long term periods. 0. rganizing: organizing the resources, particularly human resources, in the best possible manner. 1. /taffing: positioning right people right jobs at right time. -. Directing "includes leading, motivating, communicating and coordinating#: 7ommunicate and coordinate with people to lead and enthuse them to work effectively together to achieve the plans of the organization. 2. $ontro))ing "includes review and monitoring#: evaluating the progress against the plans and making corrections either in plans or in e&ecution. %ach of these functions is e&plained in some detail below. 1. Planning ,lanning is decision making process. $t is making decisions on future course of actions. ,lanning involves taking decisions on vision, mission, values, objectives, strategies and policies of an organization. ,lanning is done for immediate, short term, medium term and long term periods. $t is a guideline for e&ecution@implementation. $t is a measure to check the effectiveness and efficiency of an organization. 2. Organizing Organizing involves determination and grouping of the activities. !esigning organization structures and departmentation based on this grouping. !efining the roles and responsibilities of the departments and of the job positions within these departments. !efining relationships between departments and job positions. !efining authorities for departments and job positions. 3. Staffing $t includes manpower or human resource planning. 8taffing involves recruitment, selection, induction and positioning the people in theorganization. !ecisions on remuneration packages are part of staffing. Training, retraining, development, mentoring and counseling are important aspects of staffing.

$t also includes performance appraisals and designing and administering the motivational packages.

4. Directing $t is one of the most important functions of management to translate company s plans into e&ecution. $t includes providing leadership to people so that they work willingly and enthusiastically. !irecting people involves motivating them all the time to enthuse them to give their best. 7ommunicating companies plans throughout the organization is an important directing activity. $t also means coordinating various people and their activities. !irecting aims at achieving the best not just out of an individual but achieving the best through the groups or teams of people through team building efforts. 5. Controlling $t includes verifying the actual e&ecution against the plans to ensure that e&ecution is being done in accordance with the plans. $t measures actual performance against the plans. $t sets standards or norms of performance. $t measures the effective and efficiency of e&ecution against these standards and the plans. $t periodically reviews, evaluates and monitors the performance. $f the gaps are found between e&ecution levels and the plans, controlling function involves suitable corrective actions to e&pedite the e&ecution to match up with the plans or in certain circumstances deciding to make modifications in the plans

8) Manageria) /9i))s Managers re'uire four kinds of skills) technical, human, conceptual and design. /. %echnica) s9i))s are knowledge of and proficiency in working with the tools and specific techni'ues on given processes. ;or e&ample, mechanics work with tools, and their supervisors should have the ability to train them how to use these tools and periodically evaluate and improve the skills of the staff under them. 8imilarly accounts use various formats of accounting records like journal, ledger, trial balance, balance sheet and use various procedures like entry, posting, reconciliation and reversing etc. and the supervisor of the accountants has to know these records and procedures to train the staff under him and evaluate their work for accuracy. The first level supervisors have to demonstrate or use their technical skills on a day to day basis as managers.

0. -uman s9i))s are the concepts, methods and techni'ues that facilitate working with people. Managers have to create an environment in which people feel comfortable, motivated, secure, and committed to the objectives and goals of the group or the organizational unit in which they are members. 1. $onceptua) s9i)) is the ability to see the Abig picture.B $t is the ability to recognize significant issues or elements in a situation and to understand the relationships among these key issues. -. Design s9i)) is the ability to solve problems in ways that benefit the enterprise. To be effective managers in the organization must be capable of doing more than just seeing a problem "$f they merely confine their attention to the problem, they become Cproblem watchersD and they will not fulfill their responsibility#. They Must have, in addition to the skill of identifying key problems, the skill of a good design engineer to work out a practical solution to a problem in the light of the realities they face in the situation. The intensity or fre'uency with which these groups of skills are applied varies with the managerial level. ;irst line supervisors use their technical skills on a day to day to basis to observe the working of the staff in the department or section and guide them in carrying out the allotted tasks as per the specification of the customer or the design and in proper use of machines and tools. Euality and 'uantity control on a continuous becomes the important responsibility of first line supervisors and technical skills play a very important part in this role. *t the top level, conceptual skills and design skills have to be employed to recognize the opportunities and threats that keep on emerging in the environment. 8olutions to benefit from the opportunities and contain the ill effects of threats have to be developed

Vision: outlines what the organization wants to be, or how it wants the world in which it operates to be "an .idealised. view of the world#. $t is a long5term view and concentrates on the future. $t can be emotive and is a source of inspiration. ;or e&ample, a charity working with the poor might have a vision statement which reads .* (orld without ,overty.. Mission: !efines the fundamental purpose of an organization or an enterprise, succinctly describing why it e&ists and what it does to achieve its vision. ;or e&ample, the charity above might have a mission statement as .providing jobs for the homeless and unemployed..