Lesson Title Introduction to Management Course-Code MGT-411 Lesson Notes Week-1 Learning Objectives Students will be able to understand and explain the basic theory of Management and Its functions. Student Learning Resources at Home Video lectures, helping material and content of lecture have already been uploaded on LMS of BIIT. Students can find more information from the book “ Introduction to Management by Stephen P. Robbins in Latest Ed. Student Learning Activities at Home Students must be able to answers the general questions. 1. Define Management. 2. Define Process? 3. Explain Planning, Organizing, Leading Controlling? Classroom Activities: 15-20 Minutes: Class has been divided into 8-10 groups of about 5 members each. Topics of the Lesson Plans will be explained by one group no 1 and group no 2. Which will further be discussed by other classmates and teacher. 30-50 min: Presentation will be given by the students regarding current topic, and will have a healthy discussion in class. (one member from each group must speak). Assessment: Diagnostic Assessment: To ask random questions from class at start to check whether student has gone through the lecture/video/content. Formative Assessment: Walk around the classroom to answer individual questions of students before or after the presentation by students. Briefly go over each question with the class and address any further questions. Summative Assessment: Random Quiz, include topics related to Management, functions of Management etc Management is defined as the process of administering and coordinating resources effectively, efficiently, and in an effort to achieve the goals of the organization. Effectiveness is achieved when the organization pursues appropriate goals. Efficiency is achieved by using the fewest inputs (such as people and money) to generate a given output. In other words, effectiveness means "doing the right things" and efficiency means "doing things right." Management is a process of achieving organizational goals in effective and efficient manner by utilizing planning, organizing, leading and controlling. Organization is a social unit that is goal directed and deliberately structured. Main points of the definition: Process: process is an activity which involves a series of steps (some steps) i.e. making a cup of tea, driving a car. Admission at BIIT. Organization: A place where two or more people are working together to achieve mutual goals. Goals: person's ambition or effort; an aim or desired result Effectiveness: doing the right thing.--- achieving what is assigned..--the degree to which something is successful in producing a desired result; success. Efficiency: doing things right. Getting maximum output (Result-production) by using minimum input (resources) Planning It is the basic function of management. It deals with thinking about a future course of action & deciding in advance the most appropriate course of actions for achievement of goals. A plan is a future course of actions. It is an exercise in problem solving & decision making. Planning is determination of courses of action to achieve desired goals. Thus, planning is a systematic thinking about ways & means for accomplishment of pre-determined goals. Planning is necessary to ensure proper utilization of human & non-human resources. Organizing It is the process of bringing together physical, financial and human resources and developing productive relationship amongst them for achievement of organizational goals. Organizing a business involves determining & providing human and non-human resources to the organizational structure. Organizing as a process involves: Identification of activities. Classification of grouping of activities. Assignment of duties. Delegation of authority and creation of responsibility. Coordinating authority and responsibility relationships. Leading Every organization has people, and a manager’s job is to work with and through people to accomplish goals. This is the leading function. When managers motivate subordinates, help resolve work group conflicts, influence individuals or teams as they work, select the most effective communication channel, or deal in any way with employee behavior issues, they’re leading. Controlling Controlling is the process of checking whether or not proper progress is being made towards the objectives and goals and acting if necessary, to correct any deviation. The purpose of controlling is to ensure that everything occurs in conformities with the standards. An efficient system of control helps to predict deviations before they actually occur. Therefore controlling has following steps: a. Establishment of standard performance. b. Measurement of actual performance. c. Comparison of actual performance with the standards and finding out deviation if any. d. Corrective action. Who is a Manager? It used to be fairly simple to define who managers were: They were the organizational members who told others what to do and how to do it. It was easy to differentiate managers from non-managerial employees. BUT Now, it isn’t quite that simple. In many organizations, the changing nature of work has blurred the distinction between managers and non-managerial employees. Many traditional non-managerial jobs now include managerial activities. For example, at General Cable Corporation’s facility in Moose Jaw, Saskatchewan, Canada, managerial responsibilities are shared by managers and team members. Most of the employees at Moose Jaw are cross-trained and multi-skilled. Within a single shift, an employee can be a team leader, equipment operator, maintenance technician, quality inspector, or improvement planner. So, how do we define who managers are? A manager is someone who coordinates and oversees the work of other people so that organizational goals can be accomplished. A manager’s job is not about personal achievement—it’s about helping others do their work. That may mean coordinating the work of a departmental group, or it might mean supervising a single person. It could involve coordinating the work activities of a team with people from different departments or even people outside the organization, such as temporary employees or individuals who work for the organization’s suppliers. Keep in mind, also, that Manager is someone who coordinates and oversees the work of other people so that organizational goals can be accomplished managers may have work duties not related to coordinating and overseeing others’ work. Where Do Managers Work? It’s obvious that managers do their work in organizations. But what is an organization? It is a social unit of people that is structured and managed to meet a need or to pursue collective goals. All organizations have a management structure that determines relationships between the different activities and the members, and subdivides and assigns roles, responsibilities, and authority to carry out different tasks. Organizations are open systems--they affect and are affected by their environment. A deliberate arrangement of people to accomplish some specific purpose (that individuals independently could not accomplish alone). Different type of Management Styles There are different types of management styles, and the management process has changed over recent years. The addition of work teams and servant leadership has changed what is expected from managers, and what managers expect from their employees. Traditional Management There is a hierarchy of employees, low level management, mid-level management, and senior management. In traditional management systems, the manager sets out expectations for the employees who need to meet goals, but the manager receives the reward of meeting those goals. Team Management In a team management arrangement, the manager is a guiding hand to help the members of the team work together to solve problems but doesn’t dictate policy and the entire team receives the reward of meeting those goals. Servant Management With this approach, the manager helps supply resources the employees need to meet company goals. In servant leadership, the organization recognizes employees as experts in their field and work to help them work efficiently. No matter which type of management style is used by an organization, the main objective of managers is to help employees reach company goals and maintain company standards and policies. Time Management Time management is the process of planning and controlling how much time to spend on specific activities. Good time management enables an individual to complete more in a shorter period of time, lowers stress, and leads to career success. Goals: A goal is a desired result an organization or a system envisions, plans and commits to achieve. Many Organizations struggle to reach goals within a finite time by setting deadlines. What are SMART goals? Specific: Increase customer reviews by 30% Measurable: We measure our progress through monthly reporting, and it shows if we reach our target or not Achievable: We increased our customer reviews last year by 20%; we believe the 30% target is achievable Relevant: Based on our research to date, it’s 100% relevant to our top growth channels Time-bound: We’ve got 30 days to achieve it Example The number of new customer reviews we get must be 30% more than last year―on a year-over-year (YoY) basis. Managerial Concerns: Efficiency “Doing things right” – Getting the most output for the minimum inputs Effectiveness “Doing the right things” – Attaining organizational goals Efficiency Efficiency is asking “What needs to be done”. Efficiency is doing things the right way in the best possible manner with the least resources, time and effort. Efficiency focuses on process. Efficiency is about current work, what must improve now. Efficiency is easily measurable by analyzing specific metrics. Efficiency is internal within the bounds of the organization. Efficiency requires objective analysis. Effectiveness Effectiveness is asking “Why is this being done”. Effectiveness is doing the right things. It means demarcating that which shouldn’t be done at all and that which adds value to your organization. Another way to think about it is to ask the question “Will this add value to my customers”. If not, it’s not worth doing. Effectiveness aligns with objectives and goals. Effectiveness is future looking with the desire for a better future, encouraging innovation, laying down future strategy, adapting to changing environments, everything that leads to growing people and business. Effectiveness is not easy to measure. Effectiveness in its true sense requires external view (outside organization), ability to understand competition, economy, market trends and customer insights. Effectiveness requires subjective visioning.