1. PRINCIPLES OF MANAGEMENT DR. RATNAKAR PANI

2. MANAGEMENT = What a manager does

3. Management is an art of getting things done through and with the others in formally organized groups. It is an art of creating an environment in which people can perform individually and can co- operate each other towards attainment of group goals. - Harold Koontz

4. MANAGEMENT = Planning+ Organising+ Directing+ Coordinating + Controlling - Henry Fayol

5. LEVELS OF MANAGEMENT

6. The Top Management It consists of board of directors, chief executive officer (CEO) or managing director. The top management is the ultimate source of authority and it fixes goals and policies. It devotes its maximum time on planning and decision making functions.

7. Middle Level Management The middle level managers constitute branch or departmental managers. They are coordinators between the top management and the lower level management. They devote more time to organizational and directional functions. In small organization, there may have only one middle level management, while in big enterprises, there may have senior and junior middle level management.

8. Lower Level Management This is also known as supervisory / operative level management. It consists of supervisors, foreman, section officers, superintendent etc. These managers are responsible for direction and controlling function of management.

9. FUNCTIONS OF MANAGEMENT George & Jerry - planning, organizing, actuating and controlling. KOONTZ and O’DONNEL - Planning, Organizing, Staffing, Directing and Controlling.

10. Planning It is the primary function of management. It is a guideline of other functions It deals with chalking out a future course of action It is deciding in advance the most appropriate course of actions for achievement of goals. Planning is deciding in advance – what to do, when to do & how to do & it bridges the gap from where we are & where we want to go. – KOONTZ

11. Organizing It is the process of bringing together all the physical, financial and human resources It develops productive relationship amongst all the available resources to achieve organizational goals. Organizing involves: Identification of activities. Classification or grouping of activities. Assignment of duties. Delegation of authority and creation of responsibility. Relating authority with responsibility.

12. Staffing It is the function of manning and keeping the organisation manned. Staffing assumes greater importance with advancement of technology, increased size of business, complexity of human behavior etc. Staffing is to put right man on right job. Staffing involves: Manpower Planning. Recruitment, selection & placement. Training & development. Remuneration. Performance appraisal. Promotions & transfer.

13. Directing It is a managerial function that actuates the organizational methods to work efficiently for achievement of organizational goal. Direction deals directly with influencing, guiding, supervising, motivating to sub-ordinate to reach desired goals. Direction includes: Supervision Motivation Leadership Communication

14. Controlling Controlling implies regulating activities for accomplishment of the standards and correction of all deviations to ensure achievement of organizational goals. The purpose of controlling is to ensure that everything occurs in conformity with the standard. Controlling involves: 1.Establishing standards. 2.Measuring actual performances. 3.Comparing actual performances with the standards and finding out deviation, if any. 4.Taking corrective actions.