Presentation on theme: "Principles of Management"— Presentation transcript:
1 Principles of Management BBA 121Principles of ManagementS. ChanHead, Department of Business Administration
2 The Management Process Today Lecture 1The Management Process Today
3 What is Management? Management The planning, organizing, leading, and controlling of human and other resources to achieve organizational goals effectively and efficiently
4 What is Management? Organizations Collections of people who work together and coordinate their actions to achieve a wide variety of goals
5 What is Management? Managers The people responsible for supervising the use of an organization’s resources to meet its goalsResources include people, skills, know-how, machinery, raw materials, computers and IT, and financial capital
6 Achieving High Performance Organizational PerformanceA measure of how efficiently and effectively managers use organizational resources to satisfy customers and achieve organizational goals
7 Organizational Performance EfficiencyA measure of how well or productively resources are used to achieve a goalEffectivenessA measure of the appropriateness of the goals an organization is pursuing and the degree to which the organization achieves those goals.
8 Efficiency, Effectiveness, and Performance in an Organization
10 Planning Planning Strategy Process of identifying and selecting appropriate goals and courses of actionStrategycluster of decisions about what goals to pursue, what actions to take, and how to use resources to achieve goals
11 Steps in the Planning Process Deciding which goals to pursueDeciding what strategies to adopt to attain those goalsDeciding how to allocate organizational resources
12 Organizing Organizing Structuring working relationships in a way that allows organizational members to work together to achieve organizational goals
13 Organizing Organizational Structure A formal system of task and reporting relationships that coordinates and motivates organizational members so that they work together to achieve organizational goals
14 LeadingLeadingArticulating a clear vision and energizing and enabling organizational members so they understand the part they play in attaining organizational goals
15 Controlling Controlling Evaluating how well an organization is achieving its goals and taking action to maintain or improve performanceThe outcome of the control process is the ability to measure performance accurately and regulate efficiency and effectiveness
16 Levels and Skills of Managers DepartmentA group of people who work together and possess similar skills or use the same knowledge, tools, or techniques to perform their jobs
17 Levels of Management First line managers Middle managers Top managers Responsible for the daily supervision of non-managerial employeesMiddle managersSupervise first-line managers and are responsible for finding the best way to use resources to achieve organizational goalsTop managersestablish organizational goals, decide how departments should interact, and monitor the performance of middle managers
19 Levels of Managers Top-management team A group composed of the CEO, the COO, and the vice presidents of the most important departments of a company.
20 Question?Which management skill is the ability to understand, alter, lead, and control the behavior of other individuals and groups?ConceptualHumanTechnicalTechnologicalThe correct answer is “B” – human. See next slide.
21 Managerial Skills Conceptual skills Human skills Technical skills The ability to analyze and diagnose a situation and distinguish between cause and effect.Human skillsThe ability to understand, alter, lead, and control the behavior of other individuals and groups.Technical skillsThe job-specific knowledge and techniques required to perform an organizational role.
22 Question?What is the specific set of abilities that allows one manager to perform at a higher level than another manager? A. Skill-sets B. SKAs C. Competencies D. Skill traitsThe answer is C. Competencies are the Specific set of skills, abilities, and experiences that allows one manager to perform at a higher level than another manager in a particular setting. See p. 31
23 Technical Skills Core competency Specific set of skills, abilities, and experiences that allows one organization to outperform its competitors
25 Challenges for Management in a Global Environment Rise of Global Organizations.Building a Competitive AdvantageMaintaining Ethical and Socially Responsible StandardsManaging a Diverse WorkforceUtilizing IT and E-Commerce