NATURE AND SIGNIFICANCE OF MANAGEMENT

Unit -1

NATURE AND SIGNIFICANCE OF MANAGEMENT

Meaning of Management : Management is an art of getting things done through others.

FEATURES OF MANAGEMENT :

     1.Management is goal oriented : Management is goal oriented i.e. it helps in achieving organizational goal and different functions of management helps the managers in achieving the goal.

           

           2.Management is Pervasive : Management is pervasive i.e. it is applicable to all types of Organization whether profit making or non-profit making organization

3.Management is Continuous process : All the functions of management i.e. planning,organizing,staffing,directing and controlling are performed all the times.

4.Management is Dynamic function :Management is dynamic i.e. It tend to change according to the changes taking place in the environment

5.Intangible : Management is intangible i.e. it can’t be seen but it can be felt.

6.Balancing effectiveness and efficiency : Management always try to balance effectiveness and efficiency so that the work can be done successfully .

OBJECTIVES OF MANAGEMENT :

1.Management helps in achieving group goal : Through planning ,organizing ,staffing ,directing and controlling management directs the efforts of all individual who are working in the organization towards the achievement of organizational goal.

2.Management improves efficiency : Through the different functions management try to reduce the cost and improves the productivity with minimum wastage of resources.

3.Management creates dynamic organization: Management helps the organization to face the changes that are taking place in the environment.

4.Management brings harmony in work : By giving directions managers bring uniformity and harmony in the actions of employees.

Management Is an Art Or Science :

            Management is both art as well as Science. It is art because it requires skill, creativity and practice to do the work and it is Science because it has systematic and well organized body of knowledge.

LEVELS OF MANAGEMENT :

FUNCTIONS OF TOP LEVEL MANAGEMENT.

            1.They determine the objectives i.e. what is to be done.

            2.They frame the plans and policies to achieve the goal.

            3.They remain in contact with Govt. competitors, suppliers, media etc.

         4.They arrange all the finance required to carry on day to day operations. They buys the fixed assets.

FUNCTIONS OF MIDDLE LEVEL MANAGEMENT:

1.Interpretation of policy framed by top level management: They communicates the plans and policies framed by the top level to the lower level management.

2.Organising all the resources: They organize all the resources and the activities of their department.

3.Motivating the employees: Through the incentives they motivates the employees so that they can perform their level best.

4.Controlling and monitoring the performance of employees: They controls the activities of lower level and they prepares their performance appraisal report.

FUNCTIONS OF LOWER LEVEL MANAGEMENT:

1.Representing the problems: They present the problems to the middle level as middle level management linked with top level management.

2.Looking to the safety of workers: They provide safe and secure work environment for workers.

3.Helping the middle level in recruiting the workers: They guide and help the lower level management when they select and appoint employees.

4.Boosting the Morale: They are responsible for boosting the morale of workers and developing team spirit.

FUNCTIONS OF MANAGEMENT

1.Planning: Planning is a process of thinking in advance what is to be done, where it is to be done and how it is to be done.

2.Organising: After determining the next function is grouping of different resources and bringing together for the achievement of the organizational goal.

3.Staffing: The next function is the identification and selection of eligible employees for the accomplishment of organizational goal.

4.Directing: Directing function of management is concerned with instructing, guiding and inspiring and motivating the employees so that their efforts result in achievement of organisatioal goal.

5.Controlling : Controlling is a process which involves comparison  of actual performance with the standard.

IMPORTANT QUESTIONS AND ANSWERS

Q.1. The Activties involved in managing an enterprise are common to all

organizations whether economic, social or political. Which characteristics of management is highlighted by this statement?

Ans: Management is pervasive

Q.2. Policy formation is the function of which level of management?

Ans: Top Level

Q.3. In order to be successful an organization must change its goals according

to the need of the environment. Which characteristic of management in highlighted in the statement?

Ans: Management is dynamic function.

Q.4. To meet the objectives of the firm the management of Angora Ltd. Offer

employment to physically challenged persons. Identity the organizational objective it is trying to achieve.

Ans: Social objective

Q.5. Management of any organization strives to attain different objectives Enumerate any two such objectives?

Ans: a) Profit b) Survival.

Q.6. Who are considered as Operative managers?

Ans: Supervisors and Foremen.

Q.7. “Management is considered to be a three-tier machinery”. Why?

Ans: Because of three levels in the management hierarchy-Top, Middle &

Lower.

Q.8. Name the process by which a manager synchronizes the activities of different departments.

Ans: Coordination.

Q.9. How is entry to a profession restricted?

Ans: The entry to a profession is restricted through an examination or through acquiring an educational degree.

Q.10. State any two points which prove that management is multi - dimensional?

Ans: a) Management of work b) Management of people.

Q.11. An achievement of which organisational objectives results in “an increase in sales volume, increase in number of employees, no of products, and increase in capital investment’

Ans: objective of growth

Q.12 management is based on personalized application of knowledge and varies from person to person” which nature of management is signified

by it?           

Ans: management is an art

Q.13 the authority responsibility relationship that binds individuals as superiors and subordinates in an organization, gives rise to what?

Ans: levels of management.

Q.14 If an organization derives more benefits even after using less resource it’s a result of what?

Ans: efficiency

Q.15. A company target production is 5000 units in a year, to achieve this target the manager has to operate in double shifts due to power failure. The manager is able to meet the target but at a higher production cost. Is the manager efficient or effective?

Ans He is effective but not efficient

Q.16 “Managers in India do the same work as managers in USA or JAPAN or

Germany” which characteristic of management is highlighted by it?

Ans: Management is all pervasive

Q.17 “A collection of diverse individuals with different needs but working

towards fulfilling the common organizational goals” this statement highlights which characteristic of management?

Ans: management is a group activity

Q.18 Discrepancies between actual and realized activities are taken care at which stage?

Ans: Controlling

Q.19 ABC ltd. is facing a lot of problem these days. The company’s profit margin is declining day-by-day. The production manager is blaming marketing management whereas marketing is blaming production department for not maintaining the quality. Finance department is blaming both. What quality of management do you think is lacking.

Explain it briefly.

Ans: The quality which is lacking in the above case is “co-ordination”. The manager is able to execute all the function but he is unable to co-ordinate these function of manager. Coordination is the essence of management.

Q.20. Rajat’s father was working as a foreman in a textile factory at what level of management is he working explain in brief his functions?

Ans: he is working at operational level of management his functions are:

1. To prepare plans regarding their work and make distribution of work.

2. Representing the worker grievance before the management.

3. Ensuring adequate lighting, ventilation, odorless in the working area.

4. Looking after safety of workers.

5. Helping the management in selection, training, placement & promotion of workers.

6. Welcoming suggestion forms workers for better working practices.

Q.21 Without effective management the resources will remain as resources

cannot be converted into productive utilities. “do you agree”? give

reason.

Or

“success of an organization largely depends upon its management.” Explain

any five reasons to justify the above statement.

Ans: success of an organization largely depends upon its management because

of the following reasons:-

(a) helps in achieving group goals

(b) increase efficiency

(c) creates a dynamic organization

(d) help in achieving personal objective of organization

(e) helps in development of society.