Chapter 8: Introduction to Management
Select the correct option and rewrite the sentence
Management is ............
OPTIONS
dynamic
static
selective
SOLUTION
Management is dynamic.
Management uses .......... method of observation.
OPTIONS
unscientific
artificial
scientific
SOLUTION
Management uses scientific method of observation.
To help top level management in co-ordinating the activities is the function of ........... level management.
OPTIONS
middle
lower
top
SOLUTION
To help top level management in co-ordinating the activities is the function of middle level management.
To look after maintenance of machinery is the function of ............. level management.
OPTIONS
top
middle
lower
SOLUTION
To look after maintenance of machinery is the function of lower level management.
Management is............. oriented action.
OPTIONS
policy
profit
goal
SOLUTION
Management is goal oriented action.
Match the pairs.
SOLUTION
Give one word/phrase/term for the following sentence
The art of getting things done through others.
SOLUTION
Management
The second level of Management.
SOLUTION
Middle level
Systematic body of knowledge.
SOLUTION
Science
The level of management related to Managing Director.
SOLUTION
Top level Management
Level of management that link top level and lower level management.
SOLUTION
Middle level management
State True or False
Management is an ancient activity.
OPTIONS
True
False
Management is not objective oriented.
OPTIONS
True
False
In small organization also management is required.
OPTIONS
True
False
Middle level management forms policy of an organization.
OPTIONS
True
False
Various principles and techniques are used in management.
OPTIONS
True
False
Find the odd one.
OPTIONS
Management is an art
Management is a science
Management is commerce
Management is a profession
OPTIONS
Singer
Actor
Dancer
Doctor
OPTIONS
Doctor
Chartered Accountant
Lawyer
Singer
OPTIONS
Lower level
Middle level
Top level
High level
OPTIONS
Board of Directors
President
Purchase Manager
Chief Executive Officer (CEO)
OPTIONS
Departmental Head
Finance Manager
Production Manager
Supervisor
OPTIONS
Supervisor
Foreman
Finance Manager
Office Supertendent
Complete the sentence
The English verb ‘manage’ came from the Indian word …………….
SOLUTION
The English verb ‘manage’ came from the Indian word managgiare.
To manage is to forecast, to plan, to organize, to command, to co-ordinate and to …………….
SOLUTION
To manage is to forecast, to plan, to organize, to command, to co-ordinate and to control.
Organization is a group of person who work together to achieve a …………….
SOLUTION
Organization is a group of person who work together to achieve a common goal.
Link between the top level and lower level of management is called as …………….
SOLUTION
Link between the top level and lower level of management is called as middle level management.
Lower level management works under …………….
SOLUTION
Lower level management works under middle level management.
Art is the bringing about a desired result through the application of …………….
SOLUTION
Art is the bringing about a desired result through the application of skills.
Any knowledge which is scientifically developed and consists of universally accepted principles is known as a …………….
SOLUTION
Any knowledge which is scientifically developed and consists of universally accepted principles is known as a science.
Science is based on systematic experiments, on certain rules and on …………….
SOLUTION
Science is based on systematic experiments, on certain rules and on principles.
Teacher, Doctor, C. A., Lawyer comes under the term …………….
SOLUTION
Teacher, Doctor, C. A., Lawyer comes under the term profession.
Complete the following table
OPTIONS
Fiance Manager
Art
CEO
Profession
Supervisors
OPTIONS
Fiance Manager
Art
CEO
Profession
Supervisors
OPTIONS
Fiance Manager
Art
CEO
Profession
Supervisors
OPTIONS
Fiance Manager
Art
CEO
Profession
Supervisors
OPTIONS
Fiance Manager
Art
CEO
Profession
Supervisors
One line answer
What is called as management?
SOLUTION
Getting work done through others is called as management.
Name the levels of management?
SOLUTION
Top level, middle level and lower level are the three levels of management.
What is Top level management?
SOLUTION
The level of management that decides the long term objectives of organization and frame the plans and policies and take decisions is called as top level management.
What do you mean by Middle level management?
SOLUTION
The level of management which is concerned with implementation of plans and policies in the organization with the help of lower level management is known as middle level management.
What is lower level management?
SOLUTION
The level of management which is considered to do actual execution of plan is called as lower. Level management.
What do you mean by an art?
SOLUTION
An art means skill of individual, creativity, regular practice, personal abilities and Innovativeness.
What is seience?
SOLUTION
Science is a systematic body of knowledge and scientific methods.
What is the meaning of a profession?
SOLUTION
A profession means an individual having adequate knowledge and abilities which is helpful to handle different situation. They are trained people having formal education in management school and have a code of conduct.
Arrange in proper order.
Middle level management
Top level management
Lower level management
SOLUTION
Top level management
Middle level management
Lower level management
Departmental Head
CEO
Supervisor
Managing Director
SOLUTION
CEO
Managing Director
Departmental Head
Supervisor
Office clerk
Shareholders
Managing Director
Board of Directors
SOLUTION
Shareholders
Board of Directors
Managing Director
Office clerk
Correct the underlined word and rewrite the following sentence.
Management is only an art.
SOLUTION
Management is science and a profession.
There are five levels of management.
SOLUTION
There are three levels of management.
Lower level management works under top level management.
SOLUTION
Middle level management Works under top level management.
Middle level management works under lower level management.
SOLUTION
Middle level management works under top level management.
Management is a pure science.
SOLUTION
Management is a social science.
The entry in any profession is not restricted.
SOLUTION
The entry in any profession is restricted.
Profesionals need informal education.
SOLUTION
Profesionals need formal education.
Explain the following term/concept.
Top level management
SOLUTION
The top level management decides the long term objectives of organization, frames plans and policies and take decisions.
It consists of Board of Directors, Managing Director, CEO, President, etc.
Middle level management
SOLUTION
The middle level management is a link between top level and lower level management.It works under top level management. This level is considered with implementation of plans and policies in the organization with the help of lower level management. It consists of Head of Departments / Branch managers / In charge, etc.
Lower level management
SOLUTION
This is the last level of management. It is a supervisory level of management. It consists of superintendents, supervisors foremen and junior executives. Lower level management receives instructions from the authorities i. e. middle level management and direct subordinates wherever necessary.
Study the following case/situation and express your opinion.
While working in a company, Pranav used to give order to his subordinates about what is to be done and which work is to be done? In this organization, various employees like Pratap are doing their work assigned by Pravin. In this company, Pravin submit his report of work completion to Pranav after completing the work done by the employees like Pratap.
Identify different levels of management in above mentioned company.
Find the level of Pranav in management of company.
Explain the functions and role of Pratap in his company.
SOLUTION
There are two levels of management i.e. middle and lower level of management in above mentioned company.
Pranav works in the middle level management of company.
Pratap is an employee in a company. He works at the lower level. He executes the work assigned by Pravin.
Shankar Patil is an advocate and he is running his profession in a very good manner. His younger brother Prashant Patil has done very beautiful and artistic decoration of his brother’s office with seating arrangement and symbol of Justice as his hobby. Vishwas Patil, older brother of Shankar Patil is a science graduate and doing farming in best way. He exports the farm production. On the basis of above information:
Identify the source of income of Shankar Patil.
What is the qualification of Prashant Patil as a decorator?
Mention two features of profession.
SOLUTION
Shankar Patil is a lawyer by profession. He is practicing as a Lawyer / an advocate. He render his services to his clients and against that charges fee from them. So, ‘fee’ is the income source of Shankar Patil.
Prashant Patil may be or may not be a professional interior decorator. His hobby 1s decorating the office / houses. He may be an artist and an art does not require any formal education.
Following are the features of profession:
(a) Formal Education: Profession needs formal education. Today managers are qualified with management diploma or degrees. They take formal training from management schools which help them to work with perfection.
(b)Restricted Entry: The entry in any profession is restricted. It needs a formal education. For example Lawyer, Doctor, Interior designs, Architect, Chartered Accountant, etc. Such compulsion is not there for becoming a manager.
Distinguish between
Top level management and middle level management.
SOLUTION
Middle level management and lower level management.
SOLUTION
Top level management and lower level management.
SOLUTION
Answer in brief.
State any four features of mangement
SOLUTION
Management is Goal Oriented:
Management activity is done to achieve pre-decided goals. The success of organization is calculated on the basis of achievement of desired goals. The success depends on proper management of all available resources. Management decides the goals before conducting the activity. The manager takes efforts achieve these goals. So management is goal oriented.Management is a Group Activity:
“Management is an art of getting things done through others.” The above definition explains that management is done through / with the people. It is done by co-ordinating all resources effectively and efficiently. The activities are done under the guidance of manager by its team members. Also in organisation decisions are taken by the group of people such as Board of Directors, Shareholders, etc.Management is Intangible:
Management is the collective efforts of manager. It is a process of planning, organizing, decision making, directing and controlling. These cannot be seen physically. However, the results of best management can be experienced in the form of increased profits, attainments of pre-decided so management is tangible in nature.Management is a Continuous Process:
Management is essential throughout the life of organisation. It is necessary to start the activity, to run the activity in smooth manner and also to control the activity. It is endless process. It is required for survival of the organization continuously.
Write any four functions of Top Level Management
SOLUTION
Following are the functions of Top Level Management:
To decide long term objectives of the organisation.
To frame plans and policies to achieve the set objectives.
To observe that policies are properly implemented.
To create various department and positions.
State any four functions of Middle Level Management.
Solution
Following are the functions of Middle Level Management:
To link the top level management and lower level management.
To understand plans and policies framed by top level management and prepare plan of action according to the nature of department.
To assign duties and responsibilities to the staff of the concerned department to achieve pre-defined goals.
To appoint lower level staff.
State any four functions of Lower Level Management.
SOLUTION
Following are the function of Lower Level Management:
Do work under Middle Level Management.
To assign under Middle Level Management.
To give instruction to Subordinates.
To direct the subordinates wherever necessary.
State any two point of relationship about management as an Art.
SOLUTION
The relationship between art and management are:
Personal Skills: In organization, every manager has to handle different situations, has to solve various problems, has to handle human resource, etc. with his own style. This style varies from manager to manager and so the result. This is because of the different skills and abilities of each person.
Creativity: Creativity refers to the ability to find something new and innovative. Manager finds out new ways to conduct organizational activities and to achieve desired goals. Manager develops new ideas according to the changes in business situation and in the business environment.
Explain any two points of relationship about management as a Science.
SOLUTION
The following points shows there is a relationship in management as a science:
Systematic Body of Knowledge: Pure science is based on systematic experiments, certain rules and principles. Management principles and functions are also based on the experiments which can be studied through various different management theories, techniques and approaches given by different management thinkers.
Universal Applicability of Principles: Scientific principles can be applied in all over the world in similar situation. Therefore, the same result can be drawn. Management principles are universal in nature. They can be applied everywhere, anytime and in any condition.
State any two points of relationship about management as a Profession.
SOLUTION
The relationship between profession and management can be seen with the help of following points:
Expertise: A professional is an expert in his field. He has acquired specific knowledge through formal education. Also he has particular skill in practicing as a professional. Manager also becomes an expert by practicing regularly in the specific field and can acquire certain knowledge and skill.
Registration: Professionals need to register themselves with their associations. For example, a Chartered Accountant should register himself with Institute of Chartered Accountant of India i.e. ICAI. Without registration certificate he cannot practice. In case of managers, there is no such body to register themselves. However, managers can take the membership of ‘Chambers of Commerce’ which gives them benefits.
Justify the following statement
Management is essential in professional and non-professional activities.
SOLUTION
As management is universal in nature it is applicable everywhere, either it is a professional activity or non-professional activity.
Every person performs certain activity to achieve pre-decided goals. E.g. earning of profit, winning games competitions, to increase goodwill, etc.
Organisations either large, medium or small, profit making or non-profit making, government or non-government organisation, etc. to get success, to attain goals every time management plays a vital role It’s application ensures smooth functioning of business.
A professional acquires certain specific formal education. He has specific skill to achieve his goals. He performs management functions like planning, organizing, controlling, etc. Similarly, while performing nonprofessional activities, like plantation of tree, blood donation campaign, a person also requires to perform certain management functions.
Thus, management is essential in performing professional as well as non-professional activities.
Levels of Management depends on the size of organization.
SOLUTION
Making different parts for the smooth functioning of business and to "achieve decided goals is called levels of management.
The size of business is small, medium or large. Every business needs to manage the activities efficiently and effectively.
The levels of management depends on size of organization. If the size of organization is small the classification of levels becomes easy and simple. Whereas in large organization, it becomes difficult and complicated. The levels of management in such organisation may be classified into three parts i.e. Top level, Middle level and Lower level.
These levels of management are important in organization. These levels have their own functions. As per that they have to perform their duties and responsibilities to attain their set goals and objectives.
Thus, levels of management depends on size of organisation.
Management is a group oriented action.
SOLUTION
In the words of Mary Parker Follet, “management is an art of getting things done through others”. Management focuses on completing the work through human resource.
It is co-ordinating of all available resources effectively and efficiently. In organisation, the activities are done by the subordinates, employees under the guidance of a manager.
A manager, though he is competent, able, has capacity, skills to perform the organizational task, ‘it is not possible for a single manager to perform all the activities related to the said task alone.
To fulfill or accomplish the objectives and goals, he needs the help of other people, as it should be divided among all the employees, as per their skill, qualification, interest, knowledge and experience.
Thus, management is a group oriented activity.
Management is an art.
SOLUTION
An art is the bringing about a desired result through the application of skills. It is an innovativeness and creativeness of a person. This is a natural and inborn quality of a person. But with the help of proper education and practice one can developed the quality or qualities. E. g. acting, dancing, cycling, magician, singing, drawing, skating, musician, sports etc. comes under art.
Art does not require any specific educational qualification or it not any compulsion. It is inborn quality or a skill.
As a manager, in organisation he has to handle various kinds of situations, employees, other resources effectively and efficiently with his own style. So he uses his skills which are either inborn or developed by practice and formal education.
A manger must be innovative. He should handle the conditions. He should not use same methods all the time. Like an artist, he has to develop his skills by regular practice. He should use different techniques and skills to get perfect result. This is possible due to regular practice.
Every managers has different abilities and skills. They have to use their own abilities and skills to guide the people to achieve their goals.
Thus, manager need to be creative and skilled like an artist. Hence, management is an art.
There is no need of registration for managers.
SOLUTION
Every professional is registered with the concerned body or organisation. A professional is formally educated and also a skilled person.
A manager, now-a-days, possess a diploma or degree in management studies like Indian Institute of Management (IIM), PUMBA (Savitribai Phule Pune University, MBA) etc. A person who wants to be a manager acquires the required knowledge of the profession and trains himself/ herself for the managerial job.
As management is a profession, a manager is not practicing independently. He is an employee of the organisation.
Thus, there is no need of registration for managers.
Management is a continuos process.
SOLUTION
Management is a continuous process. It is an important feature of management.
A manager of an organisation has to perform managerial work to achieve pre-defined goals of the organisation. To achieve these goals, he as a manager applies various functions of management, principles of management and also techniques of management.
From the beginning till the achievement of success, continuous efforts of every individual is required.
Continuity is an integral part of management. It is necessary through out the life of an organisation.
Therefore, management has become necessary to start the activity and to run the activity at the business smoothly.
Thus, management is a continuous activity. It is not a one time process, but it is never ending process.
Planning is a task of top level management.
SOLUTION
Planning means thinking before doing. It is thinking in advance. Before the action, there is a thinking process.
In the large organisation, management levels are divided into three parts i. e. top, middle and lower. At the top level management, very few personnels are involves. They are Board of Directors, Managing Directors, President, Chief Executive Officer, etc.
The main function of top level management is to frame the plans and policies of the Whole organisation to achieve its goals.
It decides the long term objectives of the organisation and also frames particular plans and policies to get them. Further, it also sees that the policies are properly implemented.
Framing of organizational objectives and accordingly plans and policies to achieve them becomes a tough task of top level management.
Thus, Planning is a task of top level management.
Attempt the following.
State the features of management.
SOLUTION
Features of Management:
Managements is Dynamic: Management is dynamic and not static in character. It deals with human efforts, different situations and different activities. It adopts changes in the form of technological, socio economical, political, environmental, etc.
Management is Intangible: Management is intangible in nature. It can’t be seen and touched. It is abstract. The principles, theories, techniques, concept are practically invisible. The result of best management can be experienced in the form of increased profit, smooth functioning of the organization and achievement.
Management is a Social Process: Management is a process because it sets objectives and takes steps to achieve them. It is said to be a social process because management is concerned with people. For example employees, shareholders, investors, customers, community, etc.
Management is a Continuous Process: Management is essential through the life of an organization. It is necessary to begin the activity, to run the activity smoothly and to control the activity. This is never ending process.
There are more feature of management:
Management is Different from Ownership
Management is an Inborn Quality
Management is Situational
Management is Goal Orientated
Management is Universal
State management is as a science.
SOLUTION
Systematic Body of Knowledge: Management is not a science like physics, chemistry or biology. It is a science which deals with human beings. Management has a theories and concepts. Various principle of management like unity of command, division of labour, unity of direction are all universally accepted principle. Management follows procedures like collecting data, analyzing and drawing inferences from it. This makes management a science.
Use of Scientific Methods of Observation: In science the conclusions are drawn only on the basis of scientific methods of observation. Management also uses systematic methods of data collection, verification and analysis of that collected data and interpretation of data, then a manager takes decisions in the organisation.
Cause and Effect Relationship: Science is based on cause and effect relationship. After using specific formulae or their combination, we get particular result in science. Management theories are also based on relationships. Fair and regular salary along with good working conditions motivates people to work hard and to give best results. Whereas, old machineries, techniques, untrained employees may not give good / excepted output to the organization.
Universal Applicability of Principles: The management principles are universally accepted just like scientific principles are accepted all over the world. For e.g. Newton’s law, Archimedes principle, etc. are all accepted principles, similarly in management also the principle of authority and responsibility, unity of command, direction, etc. are all universally accepted and are used in all organization whether big or small. Management follows these principles in all kind of organizations, at all levels in the same organization.
State the relation between the management and art.
SOLUTION
Creativity: Managers must posses the quality of being creative. Every manager should be able to bring innovations in the business. This quality is developed with experience. The more experienced manager can bring about changes according to the situation.
Regular Practice: Practice makes a man perfect. This is the rule applied by a manager. The more the experience, the manager will be able to meet any challenge or difficult situation with ease. He is in a position to make the required changes according to the circumstances.
Personal Skill: Every manager being an individual is different. A good manager must posses good skills in dealing with human beings. He should use his skill in knowing the problem, allotment of work to employees, give judgment and understanding to deal with various situations in business.
Personal Abilities: Every person has different abilities and skills. Manager uses his own abilities to co-ordinate the activities, to guide the people and to achieve their goals.
State the importance of management.
SOLUTION
Utilisation of Resources Optimally: Effective management is all about optimum use of available resources in the organization. Proper distribution of resources and work to right person results in higher output. It also reduces wastage and cost. Maximisation of output by reducing cost is the ultimate objective of every organization.
Better Relation: Different groups work at different levels in organization. The employer and the employees have different sets of demands from each other. Effective management ensures that employees fulfill their social responsibilities towards their employers. This helps in establishing good relationship among different groups in an organization.
Achievement of Goals: In an organization group of people performs various activities to achieve common goals of the organization. Effective management brings about harmony (cordial relationship) and good co-ordination in efforts of all group. A manager creates a feeling of team spirit among the members of the group.
Division of Work: Division of Work means the entire work is divided into smaller lots. Each job is given to a particular employee as per his ability and skill to carry out the required activity. Division of work leads to specialization of work and completion of the work in the stipulated period of time.
State the similarities between management and profession.
SOLUTION
Formal Education: Professionals need formal education. Today’s managers are qualified with management diploma or degrees from various institutes like IIMS, PUMBA etc. They also take formal training from management schools which helps them to work professionally.
Code of Conduct: Code of conduct means set of rules and regulations to be followed by practicing in their field. Every profession has their own code of conduct to control the activities. It emphasis on ethical practice in that profession. E.g. Chartered Accountants have to work according to ICAI, Lawyers have to follow the code of conduct framed by Bar Council of India, etc. However for managers there is no such association of managers. Generally managers follow the code of conduct based on customs and traditions.
Expertise: A professional is an expert in his field. He has acquired specific knowledge through formal education. He has particular skill of practicing as professional. He becomes an expert due to regular practice in specific field.
Registration: Professionals need to register themselves with their associations. For example, Lawyers must get registered themselves with India Bar Council, Chartered Accountants With Institute of Chartered Accountant of India, where as for managers there is no need of such registration with any body. They can take membership of ‘Chambers of Commerce’ which give them membership benefits.
Restricted Entry: The entry in any profession is restricted. It needs formal education e.g. Lawyers, Architect, Interior designer, Doctors, Chartered Accountant, etc. However, such compulsion is not there for working as a manager.
State the functions of lower level management.
SOLUTION
Planning day to day working.
Acting as a link between middle level of management and workers.
Carrying out the instructions given by the middle level management.
Delegating duties to workers, inspecting and supervising their work.
Attending the problems of workers and making arrangements for their training and development.
To maintain discipline and good human relations among the workers.
Image building of the enterprise before workers and creating sense of belongingness.
Ensuring safety of workers, machine, tools, etc.
Making arrangement of materials and tools and preventing the misuse and wastage of such material.
Providing feedback information about the workers problems to the higher authorities.
Answer the following.
What is management?
SOLUTION
Meaning: The word management is derived from the Latin word ‘Manus’ which means ‘hands’. It means management is handling some activity. Many thinkers said that management means a fine consideration of co-ordinating and controlling the work either from direct individual or from a group.
Definitions:
Some definitions of management given by different management thinkers as follows:
Mary Parker Follet- “Management is an art of getting things done through others”.
Henry Fayol-“To manage is to forecast, to plan, to organize, to command, to co-ordinate and to control”.
Fredrick Winslow Taylor- “Management is knowing exactly what is to be done and seeing that it is done in the best possible manner.”
State the characteristics of management.
SOLUTION
Managements is Dynamic: Management is dynamic and not static in character. It deals with human efforts, different situations and different activities. It adopts changes in the form of technological, socio economical, political, environmental, etc.
Management is Intangible: Management is intangible in nature. It can’t be seen and touched. It is abstract. The principles, theories, techniques, concept are practically invisible. The result of best management can be experienced in the form of increased profit, smooth functioning of the organization and achievement.
Management is a Social Process: Management is a process because it sets objectives and takes steps to achieve them. It is said to be a social process because management is concerned with people. For example employees, shareholders, investors, customers, community, etc.
Management is a Continuous Process: Management is essential through the life of an organization. It is necessary to begin the activity, to run the activity smoothly and to control the activity. This is never ending process.
Management is Different from Ownership: In an organization, management is different from ownership. Owners contribute capital which is taken care of by efficient and paid managers.
Management is an Inborn Quality: Management in the older days, was considered to be an inborn quality. But with the inception of various business schools, management is a quality which can be developed if a person has the interest and perseverance.
Management is Situational: Management helps to take decisions and also to handle specific situation. The decisions are based on the principles, theories and techniques. They are applicable in certain situation only.
Management is Goal Orientated: Every business organization either small, medium or large, profit -making or non-profit making, Governmental or N GOs have their own goals. When the organization achieves its desired goals, it is called success of that organisation. This success depends on proper management of all available resources. A manager takes lots of efforts to achieve these goals. So management is goal oriented.
Management is Universal: Management principles and theories are equally applicable every Where and in every field like business, profession, hospital, education, politics, government administration social activities. These principles are the guidelines to the manager. They are flexible and capable of adaptation to every type of organization.
Management is Group Activity: Management is defined as “getting work done through others” or “With the people in formally organized groups”. The tasks set by the organization is compiled by employees, all levels of managers and even with the help of outside parties.
Discuss whether management is an art, science or profession.
SOLUTION
Management is an art:
Creativity: Managers must posses the quality of being creative. Every manager should be able to bring innovations in the business. This quality is developed with experience. The more experienced manager can bring about changes according to the situation.
Regular Practice: Practice makes a man perfect. This is the rule applied by a manager. The more the experience, the manager will be able to meet any challenge or difficult situation with ease. He is in a position to make the required changes according to the circumstances.
Personal Skill: Every manager being an individual is different. A good manager must posses good skills in dealing with human beings. He should use his skill in knowing the problem, allotment of work to employees, give judgment and understanding to deal with various situations in business.
Personal Abilities: Every person has different abilities and skills. Manager uses his own abilities to co-ordinate the activities, to guide the people and to achieve their goals.
Management is an science:
Systematic Body of Knowledge: Management is not a science like physics, chemistry or biology. It is a science which deals with human beings. Management has a theories and concepts. Various principle of management like unity of command, division of labor, unity of direction are all universally accepted principle. Management follows procedures like collecting data, analyzing and drawing inferences from it. This makes management a science.
Use of Scientific Methods of Observation: In science the conclusions are drawn only on the basis of scientific methods of observation. Management also uses systematic methods of data collection, verification and analysis of that collected data and interpretation of data, then a manager takes decisions in the organisation.
Cause and Effect Relationship: Science is based on cause and effect relationship. After using specific formulae or their combination, we get particular result in science. Management theories are also based on relationships. Fair and regular salary along with good working conditions motivates people to work hard and to give best results. Whereas, old machineries, techniques, untrained employees may not give good / excepted output to the organization.
Universal Applicability of Principles: The management principles are universally accepted just like scientific principles are accepted all over the world. For e.g. Newton’s law, Archimedes principle, etc. are all accepted principles, similarly in management also the principle of authority and responsibility, unity of command, direction, etc. are all universally accepted and are used in all organization whether big or small. Management follows these principles in all kind of organizations, at all levels in the same organization.
Management is an profession:
Formal Education: Professionals need formal education. Today’s managers are qualified with management diploma or degrees from various institutes like IIMS, PUMBA etc. They also take formal training from management schools which helps them to work professionally.
Code of Conduct: Code of conduct means set of rules and regulations to be followed by practicing in their field. Every profession has their own code of conduct to control the activities. It emphasis on ethical practice in that profession. E.g. Chartered Accountants have to work according to ICAI, Lawyers have to follow the code of conduct framed by Bar Council of India, etc. However for managers there is no such association of managers. Generally managers follow the code of conduct based on customs and traditions.
Expertise: A professional is an expert in his field. He has acquired specific knowledge through formal education. He has particular skill of practicing as professional. He becomes an expert due to regular practice in specific field.
Registration: Professionals need to register themselves with their associations. For example, Lawyers must get registered themselves with India Bar Council, Chartered Accountants With Institute of Chartered Accountant of India, where as for managers there is no need of such registration with any body. They can take membership of ‘Chambers of Commerce’ which give them membership benefits.
Restricted Entry: The entry in any profession is restricted. It needs formal education e.g. Lawyers, Architect, Interior designer, Doctors, Chartered Accountant, etc. However, such compulsion is not there for working as a manager.
Balbharati Solutions for Organisation of Commerce and Management (OCM) 11th Standard HSC Maharashtra State Board Chapterwise List - Free
The answers for the Balbharati books are the best study material for students. These Balbharati Solutions for Organisation of Commerce and Management (OCM) 11th Standard HSC Maharashtra State Board will help students understand the concepts better.
• Chapter 1: Introduction of Commerce and Business
• Chapter 3: Small Scale Industry and Business
• Chapter 4: Forms of Business Organisation - 1
• Chapter 5: Forms of Business Organisation - 2
• Chapter 6: Institutes Supporting Business
• Chapter 7: Business Environment
• Chapter 8: Introduction to Management
Author: By Amin for OMTEX CLASSES.
