MANAGEMENT
It is knowing exactly what you want man to do and then seeing that they do it in best and cheapest way
Management is the art of getting the thing done through the people organised in formula group
To manage is to forecast, to plane to organize to command to co-ordinate and to control
# Characteristics of management :-
1. Management is the purposal activity :-
Management is the activity which is concern with establishment of co-ordination between human and non-human resources. It direct the efforts of the group to achieve the common goal
2. management is social process :-
Management is the art of getting things done through and with the people in finally organised group. It shows that management is a social process
3. Management is a integrating process :-
It integrates the non m/c and material to carry out the operation of the organisation.
4. Management is the intangible process :-
It has the intangible quality, which mean it cannot seen or touch
5. Management is the universal activity
6. Management needed at all the level of organisation :-
Level of management imples a division of management function. Thus management is needed At all the levels either at the top level, middle level or the bottom level irrespective of it's nature
7. Management is the process :-
Management is a distinct process consisting of planning, organising, activity and controlling performed to complete the effective
8. Management is both science and art :-
Management is the Science b'coz it has developed certain principles and laws at the same time. It is art because it is concerned with application of knowledge for the solution of organisation problem
# Need of management :-
Management is the real force behind production. The sucess of organisation depends on management. The need of management is due to following reason:-
- Tough competition in market :-
The growing industrial competition has a need that the maximum economy should be obtained in the production. This demand and organised management to secure the best results
- Production effecienty :-
A goods scientific management helps in increasing plant effeciency by reducing coastage of time ,material money
- Industrial peace :-
A good management ensures CO-ordianal relation between the employee and employers. This prevents strike And any disputes
- Limited financial resonance:-
Due to limited financial resources. It is essential that the factor and production are controlled effectively. This is possible only when industry run on well organised management
- Expansion of industry :-
As the size of industry increases resulting in increased labour, machinery And building. It becomes essential to concentrated more or the proper management to take the benefit of large scale production
# Principle of Management :-
* Division of work :-
It mean that a worker is given only small element of work to do in which he become a specialised. It lead to better efficienty and maximum output this can be applied to the all kinds of different work
* Authority and responsibility :-
Authority is a right to command to get the work done. The responsibility prefers to all the duties or the activities that must be done to carry out a job
Individual must have sufficient authority to carry out. Their assigned responsibility, responsibility without authority or vice-versa is meaningless
- Discipline :-
It is an accordance with the employment agreement and the organization rules. Discipline is necessary for effecient functionally of the enterprise
- unity of command:-
Unity of command states that an individual should receive order from and report directly to only one superior. It avoids confusion and the mistakes
- Unity of direction :-
It states that their should be a one plan and one head for the each group of activities having the same objectives
- Centralisation of authority :-
It mean that authority is in the hands of one central points in the org.
- Scaler chain :-
It is a chain of superior from highest to lowest rank. Their should be an unbroken chain of authority and command thru all the level from highest to lowest
- Remuneration :-
All the employees should be fairly paid with the appropriate additional incentive for the additional efforts
- Initiative :- Initiative is a freedom to think, plan and execute. It bring self-confidence in a worker which is essential for improving the efficient of the organisation
- Stability of workers :-
Efficiency can only be achieved by having stable working force
- Equity :- Manager should be fair, unbaised and meaningful in his dealing with Sub-ordinates
- Order :-
It mean that everything has a right place in the organisation. So that they will be executive in proper manner
- More emphasis to general interest as compare to individual interest :-
It necessary to maintain unity and to avoid the friction among the employers
- Team spirit :-
Employers should work as a team because there is strength in unity and the management should promote this team spirit
# Function of the management :-
* Planning
* Managing
* Staffing
* Directly
* Co-ordinating
* Controlling
COMMUNICATION
# Personal management :-
It is concerned with organising human resources in such a way as to get maximum output to the enterprise and to developed the talent of people
# Principles :-
- Principle of maximum individual development :-
This principle emphases on the development of each individual as the every individual differ in nature and character the administrator should recognize the characteristics of each individual and provide the opportunity to developed those charactertics to the best use of org.
- Principles of scientific selection :-
It is necessary the solution should be made on the scientific basis because there must be an effective co-ordination between the man and job. A right man should be selected for the right job
- Principles of high moral :-
It is necessary to keep the moral of the worker high. They should be motivated consistantly to achieve the common goal of an enterprise
- Principles effective communication
- Principles of dignity of labour :-
Labour must be given good in the organisation work is workship should be developed among the worker
- Principles of team spirit :-
The co-operation is the team of the sources worker should get it realize that their work as a team can only complete the goal of the organisation
- Principles of effective utilization human resource :-
It is concern with to utilised the available human resource in the best possible manner. So, as to achieve the organization objective
# Function of personal management :-
There are two type of function
* managerial function
- Planning
- Organizing
- Staffing
- Directing
- Co-ordinating
- Controlling
* operative function
# Operative functions of personal management :-
1. Selection of personal management :-
This function concern with getting the necessary number of employee's to achieve the objective. It involves recruitment ,selection, placement etc
2. Development of person :-
This function relates to development of skills and increasing the effecienty of work. To achieve this training programme are prepared for the employee's at the all level of organisation
3. Compensation :-
Under this fair remuneration of the personal are to be determined. it also ensures payment of wages and salaries At right time
4. Maintaining good industrial relation :-
By maintaining good relation industrial peace can be maintained
5. Record keeping :-
Under this proper record of all the information regarding the work should be maintained so that at the time of promortion it can help the management
6. Maintaining :-
It is concerned with activities related to maintainance and improving working condition employee's and security etc. It include preparation and implementation of health scheme and safety program
# Inventory management :-
Inventory are the strokes of the raw material and the components required for manufacturing of products and of the finished products for sale, classified into 3 category :-
1. Raw material :-
There are the goods which have been purchased and stored for future references
2. Work in progress :-
These are the semi-manufactured products
3. Finished goods :-
These are final product of production process for the sale
# Advantages of holding inventories :-
It is always advantageous to keep some general items in the stock to be used as soon as orders are received
- It enables the immediate start of production and soon as orders are achieved
- buying the material in the optimum quantitaties Is profitable
- An enterprise may also hold the inventories to take the advantage of prise pluctuationary of the raw material
- more product can be manufactured easily
- Holding sufficient inventories also ensures effecient production run
# Disadvantage of holding large inventories :-
It is note that every thing is good with holding the inventories. The following are disadvantage
- Larger inventories more the insurance charges
- many items damaged with passage of time
- when the design changes, all the inventories become absolute
- sometime the cost of material decreases. It cause loss to the organization
- much of the working capital is tied with inventories and the interest has to be paid on such capitals
# Inventory controlled techniques :-
Inventory control may be defined as scientific method of finding out how much stock should be maintained in order to meet the production demand and to be able to provide right type of material at the right time in right quantities and the compatitive rates
# Function of inventory control :-
- it helps in operationally smooth working of an organism
- it shows the main level of stock and recording the level
- it helps in smooth flow of production
- it estimates time log between the manufacturing and transport operation
Financial management
It is knowing exactly what you want man to do and then seeing that they do it in best and cheapest way
Management is the art of getting the thing done through the people organised in formula group
To manage is to forecast, to plane to organize to command to co-ordinate and to control
# Characteristics of management :-
1. Management is the purposal activity :-
Management is the activity which is concern with establishment of co-ordination between human and non-human resources. It direct the efforts of the group to achieve the common goal
2. management is social process :-
Management is the art of getting things done through and with the people in finally organised group. It shows that management is a social process
3. Management is a integrating process :-
It integrates the non m/c and material to carry out the operation of the organisation.
4. Management is the intangible process :-
It has the intangible quality, which mean it cannot seen or touch
5. Management is the universal activity
6. Management needed at all the level of organisation :-
Level of management imples a division of management function. Thus management is needed At all the levels either at the top level, middle level or the bottom level irrespective of it's nature
7. Management is the process :-
Management is a distinct process consisting of planning, organising, activity and controlling performed to complete the effective
8. Management is both science and art :-
Management is the Science b'coz it has developed certain principles and laws at the same time. It is art because it is concerned with application of knowledge for the solution of organisation problem
# Need of management :-
Management is the real force behind production. The sucess of organisation depends on management. The need of management is due to following reason:-
- Tough competition in market :-
The growing industrial competition has a need that the maximum economy should be obtained in the production. This demand and organised management to secure the best results
- Production effecienty :-
A goods scientific management helps in increasing plant effeciency by reducing coastage of time ,material money
- Industrial peace :-
A good management ensures CO-ordianal relation between the employee and employers. This prevents strike And any disputes
- Limited financial resonance:-
Due to limited financial resources. It is essential that the factor and production are controlled effectively. This is possible only when industry run on well organised management
- Expansion of industry :-
As the size of industry increases resulting in increased labour, machinery And building. It becomes essential to concentrated more or the proper management to take the benefit of large scale production
# Principle of Management :-
* Division of work :-
It mean that a worker is given only small element of work to do in which he become a specialised. It lead to better efficienty and maximum output this can be applied to the all kinds of different work
* Authority and responsibility :-
Authority is a right to command to get the work done. The responsibility prefers to all the duties or the activities that must be done to carry out a job
Individual must have sufficient authority to carry out. Their assigned responsibility, responsibility without authority or vice-versa is meaningless
- Discipline :-
It is an accordance with the employment agreement and the organization rules. Discipline is necessary for effecient functionally of the enterprise
- unity of command:-
Unity of command states that an individual should receive order from and report directly to only one superior. It avoids confusion and the mistakes
- Unity of direction :-
It states that their should be a one plan and one head for the each group of activities having the same objectives
- Centralisation of authority :-
It mean that authority is in the hands of one central points in the org.
- Scaler chain :-
It is a chain of superior from highest to lowest rank. Their should be an unbroken chain of authority and command thru all the level from highest to lowest
- Remuneration :-
All the employees should be fairly paid with the appropriate additional incentive for the additional efforts
- Initiative :- Initiative is a freedom to think, plan and execute. It bring self-confidence in a worker which is essential for improving the efficient of the organisation
- Stability of workers :-
Efficiency can only be achieved by having stable working force
- Equity :- Manager should be fair, unbaised and meaningful in his dealing with Sub-ordinates
- Order :-
It mean that everything has a right place in the organisation. So that they will be executive in proper manner
- More emphasis to general interest as compare to individual interest :-
It necessary to maintain unity and to avoid the friction among the employers
- Team spirit :-
Employers should work as a team because there is strength in unity and the management should promote this team spirit
# Function of the management :-
* Planning
* Managing
* Staffing
* Directly
* Co-ordinating
* Controlling
COMMUNICATION
# Personal management :-
It is concerned with organising human resources in such a way as to get maximum output to the enterprise and to developed the talent of people
# Principles :-
- Principle of maximum individual development :-
This principle emphases on the development of each individual as the every individual differ in nature and character the administrator should recognize the characteristics of each individual and provide the opportunity to developed those charactertics to the best use of org.
- Principles of scientific selection :-
It is necessary the solution should be made on the scientific basis because there must be an effective co-ordination between the man and job. A right man should be selected for the right job
- Principles of high moral :-
It is necessary to keep the moral of the worker high. They should be motivated consistantly to achieve the common goal of an enterprise
- Principles effective communication
- Principles of dignity of labour :-
Labour must be given good in the organisation work is workship should be developed among the worker
- Principles of team spirit :-
The co-operation is the team of the sources worker should get it realize that their work as a team can only complete the goal of the organisation
- Principles of effective utilization human resource :-
It is concern with to utilised the available human resource in the best possible manner. So, as to achieve the organization objective
# Function of personal management :-
There are two type of function
* managerial function
- Planning
- Organizing
- Staffing
- Directing
- Co-ordinating
- Controlling
* operative function
# Operative functions of personal management :-
1. Selection of personal management :-
This function concern with getting the necessary number of employee's to achieve the objective. It involves recruitment ,selection, placement etc
2. Development of person :-
This function relates to development of skills and increasing the effecienty of work. To achieve this training programme are prepared for the employee's at the all level of organisation
3. Compensation :-
Under this fair remuneration of the personal are to be determined. it also ensures payment of wages and salaries At right time
4. Maintaining good industrial relation :-
By maintaining good relation industrial peace can be maintained
5. Record keeping :-
Under this proper record of all the information regarding the work should be maintained so that at the time of promortion it can help the management
6. Maintaining :-
It is concerned with activities related to maintainance and improving working condition employee's and security etc. It include preparation and implementation of health scheme and safety program
# Inventory management :-
Inventory are the strokes of the raw material and the components required for manufacturing of products and of the finished products for sale, classified into 3 category :-
1. Raw material :-
There are the goods which have been purchased and stored for future references
2. Work in progress :-
These are the semi-manufactured products
3. Finished goods :-
These are final product of production process for the sale
# Advantages of holding inventories :-
It is always advantageous to keep some general items in the stock to be used as soon as orders are received
- It enables the immediate start of production and soon as orders are achieved
- buying the material in the optimum quantitaties Is profitable
- An enterprise may also hold the inventories to take the advantage of prise pluctuationary of the raw material
- more product can be manufactured easily
- Holding sufficient inventories also ensures effecient production run
# Disadvantage of holding large inventories :-
It is note that every thing is good with holding the inventories. The following are disadvantage
- Larger inventories more the insurance charges
- many items damaged with passage of time
- when the design changes, all the inventories become absolute
- sometime the cost of material decreases. It cause loss to the organization
- much of the working capital is tied with inventories and the interest has to be paid on such capitals
# Inventory controlled techniques :-
Inventory control may be defined as scientific method of finding out how much stock should be maintained in order to meet the production demand and to be able to provide right type of material at the right time in right quantities and the compatitive rates
# Function of inventory control :-
- it helps in operationally smooth working of an organism
- it shows the main level of stock and recording the level
- it helps in smooth flow of production
- it estimates time log between the manufacturing and transport operation
Financial management
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