Course Content
OVERVIEW OF MANAGEMENT
Definition and importance of management Functions of management Managerial roles Evolution of management thought Types of management environment
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PLANNING FUNCTION
Meaning and importance of planning Principles of planning Purpose of planning Types of plans Planning tools Process of planning Planning challenges Making plans effective Management by objectives
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ORGANIZING FUNCTION
Meaning and Importance of Organizing Structure and Designs of Organizations Principles of Organizing Process of Organizing Delegation Coordination Centralization and Decentralization Informal Organizations
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STAFFING FUNCTION
Meaning and Importance of Staffing Human Resource Planning Recruitment and Selection Training and Development Performance Management Reward Management Separation
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DIRECTING FUNCTION
Meaning and Importance of Directing Leadership Motivation Communication Group Dynamics Conflict Management
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CONTROLLING FUNCTION
Meaning and Importance of Controlling Elements of Control Characteristics of Effective Controls Control Process Role of Control in an Organization Tools of Controlling
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STRATEGIC MANAGEMENT
Overview of Strategic Management SWOT Analysis Strategy Formulation Strategy Implementation Strategy Evaluation
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EMERGING ISSUES AND TRENDS
Organization Culture Ethics and Social Responsibility Managing Innovation and Change Diversity and Inclusion Corporate Governance Globalization
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Principles and Practices of Management
About Lesson
  1. Flowchart: Flowcharts of reporting links have been found in organizational hierarchies. Work process flows are also documented using flowcharts.
  2. Checklist: A check sheet is a fundamental quality tool for gathering data. A check sheet could be used to keep track of how many times a specific incidence occurs.
  3. Control Charts: Also known as run charts are used to plot data points over time and provide a visual representation of the data’s movement. These graphs show if data is consistent or whether there are high or low outliers in data occurrences.
  4. Scatter Diagrams: Scatter diagrams are graphs that show how variables are related. Variables are frequently used to illustrate potential causes and effects.
  5. Return on Investment (ROI): Profits are a crucial control device since they measure a company’s total efficiency to its invested capital. It will be used to gauge good performance if the rate of return on investment (shareholders’ cash) is relatively satisfactory.
  6. Program Evaluation and Review Technique (PERT): The Programme Evaluation and Review Technique (PERT) was first designed as a management tool for coordinating and early completion of the Polaris Ballistic Missile Project in the United States resulted in a 30% decrease in project execution time.
  7. Management Information System (MIS): Management information system (MIS) is a method of giving timely, adequate, and correct data to the appropriate individual in a company, allowing them to make the best decisions possible.
  8. Management Audit: An independent agency conducts a management audit to determine whether management is being carried out most effectively or not. If there are flaws at any level, recommendations for improving managerial efficiency should be made.
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