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Management Principles and Practice
Management Principles and Practice
Dr. R. Panneerselvam, Dr. P. Sivasankaran
ISBN 9788119243044
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Table of contents

Biographical note

Excerpt

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  • Cover
  • Title Page
  • Copyright Page
  • Dedications
  • Contents
  • Preface
  • Chapter 1 Introduction: Management, Managerial Roles and Skills
    • 1.1 Management
      • 1.1.1 Universal Nature
      • 1.1.2 Goal Oriented
      • 1.1.3 Continuous Process
      • 1.1.4 Multi-dimensionality
      • 1.1.5 Group Activity
      • 1.1.6 Dynamic Function
      • 1.1.7 Intangibility
    • 1.2 Is Management Arts or Science?
    • 1.3 Entrepreneur Vs Manager
      • 1.3.1 Entrepreneur
      • 1.3.2 Manager
    • 1.4 Types of Managers
      • 1.4.1 Top Level Managers
      • 1.4.2 Middle Level Managers
      • 1.4.3 Bottom Level / First Line Managers
      • 1.4.4 Team Leaders
    • 1.5 Managerial Roles And Skills
      • 1.5.1 Interpersonal Role
      • 1.5.2 Informational Role
      • 1.5.3 Decisional Role
    • 1.6 Managerial Skills
      • 1.6.1 Leadership Skills
      • 1.6.2 Planning and Strategy Skills
      • 1.6.3 Communication Skills
      • 1.6.4 Organizational skills
    • Keywords
    • Multiple Choice Questions
    • Review Questions
    • References
  • Chapter 2 Evolution of Management
    • 2.1 Introduction
    • 2.2 Early Management Thought
    • 2.3 Classical Approach
      • 2.3.1 Scientific Management
      • 2.3.2 Administrative Management
      • 2.3.3 Bureaucratic Management
    • 2.4 Modern Management Approaches
      • 2.4.1 Approach of Mary Parker Follett
      • 2.4.2 Maslow’s Theory of Need Hierarchy
      • 2.4.3 Douglas McGregor Theory of Management
    • 2.5 Human Relations Approach
      • 2.5.1 Behavioural Science Theory
      • 2.5.2 Contingency Theory
    • 2.6 Quantitative Approach of Management Thought
      • 2.6.1 Management Science/ Operations Research
      • 2.6.2 Production and Operations Management
    • 2.7 System Approach of Management Thought
    • Keywords
    • Multiple Choice Questions
    • Review Questions
    • References
  • Chapter 3 Business Organizations / Firms
    • 3.1 Introduction
      • 3.1.1 Profit Maximization Theory
    • 3.2 Sole Proprietorship
    • 3.3 Partnership
    • 3.4 Corporation
    • 3.5 Limited Liability Company (LLC)
    • 3.6 Cooperative
      • 3.6.1 Centralized Cooperative Structure
      • 3.6.2 Subsidiary Cooperative Structure
      • 3.6.3 Joint Cooperative Structure
    • 3.7 Joint Stock Company
      • 3.7.1 Charted Company
      • 3.7.2 Registered Company
    • 3.8 Public Sector Enterprises
      • 3.8.1 Types of Public Sector Enterprises
    • 3.9 Private Sector Enterprises
    • Keywords
    • Multiple Choice Questions
    • Review Questions
    • References
  • Chapter 4 Organization Culture and Environment
    • 4.1 Introduction
    • 4.2 People Behind Creation of Organization Culture
      • 4.2.1 Combination of Traits – Genuine Employees
      • 4.2.2 Combination of Traits – Undesirable Characteristics
      • 4.2.3 Autocratic Leadership Style and Committed Employees
      • 4.2.4 Autocratic Leadership Style and Unfair Employees
    • 4.3 Types of Organization Cultures
      • 4.3.1 Clan Culture
      • 4.3.2 Adhocracy Culture
      • 4.3.3 Market Culture
      • 4.3.4 Hierarchy Culture
    • 4.4 Workplace Culture
      • 4.4.1 Person Culture and Market Culture
      • 4.4.2 Adaptive Culture and Adhocracy Culture
      • 4.4.3 Power Culture, Role Culture and Hierarchy Culture
      • 4.4.4 Task Culture and Clan Culture
    • 4.5 Culture Change
      • 4.5.1 Guidelines for Culture Change
    • 4.6 Organization Environment
      • 4.6.1 Internal Environment
      • 4.6.2 External Environment
      • 4.6.3 Factors of Organizational Environment
    • Keywords
    • Multiple Choice Questions
    • Review Questions
  • Chapter 5 Current Trends and Issues in Management
    • 5.1 Introduction
    • 5.2 Emerging Trends in Management
      • 5.2.1 Total Quality Management
      • 5.2.2 Companywide Continuous Improvement
      • 5.2.3 Crisis Management
    • 5.3 Risk Management
      • 5.3.1 Risk Management Process
      • 5.3.2 Advantages of Risk Management
    • 5.4 Change Management
    • 5.5 Resistance to Change
    • 5.6 Change Through Organizational Hierarchy
    • 5.7 International Business and Global Practices
    • 5.8 Systems and Procedures
      • 5.8.1 Six Sigma
      • 5.8.2 Knowledge Management
      • 5.8.3 Customer Focused Organizations
    • Keywords
    • Multiple Choice Questions
    • Review Questions
    • References
  • Chapter 6 Strategic Management
    • 6.1 Introduction
    • 6.2 Mission
    • 6.3 Objectives
    • 6.4 Corporate Strategies
      • 6.4.1 Stable Growth Strategy
      • 6.4.2 Growth Strategy
      • 6.4.3 Endgame Strategies
      • 6.4.4 Retrenchment Strategies
      • 6.4.5 Combination Strategy
    • 6.5 Generic Competitive Strategies
    • 6.6 Functional Strategies
      • 6.6.1 Marketing Strategies
      • 6.6.2 Financial Strategies
      • 6.6.3 Human Resource Strategies
      • 6.6.4 Operations Strategies
    • Keywords
    • Review Questions
    • References
  • Chapter 7 Planning
    • 7.1 Introduction
    • 7.2 Nature / Characteristics and Purpose of Planning
      • 7.2.1 Nature of Planning
      • 7.2.2 Purpose of Planning
    • 7.3 Planning Process
      • 7.3.1 Planning Premises and its Types
      • 7.3.2 Setting Organizational Objectives
      • 7.3.3 Searching and Listing Future Courses of Action
      • 7.3.4 Evaluating Courses of Action
      • 7.3.5 Selecting the Best Course of Action
      • 7.3.6 Development of Plans to Implement Best Course of Action
      • 7.3.7 Conversion of implementation Plan into Action
      • 7.3.8 Follow-up of Implemented Plan
    • Keywords
    • Multiple Choice Questions
    • Review Questions
    • References
  • Chapter 8 Types of Planning and Planning Tools
    • 8.1 Introduction
    • 8.2 Types of Planning
      • 8.2.1 Strategic Planning
      • 8.2.2 Tactical Planning
      • 8.2.3 Operational Planning
    • 8.3 Planning Tools and Techniques
      • 8.3.1 Forecasting
      • 8.3.2 Contingency Planning
      • 8.3.3 Scenario Planning
      • 8.3.4 Benchmarking Technique
      • 8.3.5 Stages of Benchmarking Process
      • 8.3.6 Benefits of Benchmarking
      • 8.3.7 Participative Planning
      • 8.3.8 Use of Staff Planners
      • 8.3.9 Aggregate Planning
    • Keywords
    • Multiple Choice Questions
    • Review Questions
    • References
  • Chapter 9 Decision Making
    • 9.1 Introduction
    • 9.2 Types of Decisions
      • 9.2.1 Programmed Decisions and Non-programmed Decisions
      • 9.2.2 Operational, Tactical and Strategic Decisions
      • 9.2.3 Organizational and Personal Decisions
      • 9.2.4 Individual Decisions and Group Decisions
    • 9.3 Characteristics of Decisions
    • 9.4 Decision Making Process
    • 9.5 Decision Making Tools
      • 9.5.1 Deterministic Decision Environment
      • 9.5.2 Probability Decision Environment
      • 9.5.3 Uncertain Decision Environment
    • Keywords
    • Multiple Choice Questions
    • Review Questions
    • References
  • Chapter 10 Organizing: Basics and Organization Charts
    • 10.1 Introduction
    • 10.2 Organization Process
    • 10.3 Nature and Purpose of Organizing
    • 10.4 Formal and Informal Organization
    • 10.5 Organization Charts
      • 10.5.1 Line Organization Chart
      • 10.5.2 Line and Staff Organization Chart
      • 10.5.3 Matrix Organization
      • 10.5.4 Project Organization
    • Keywords
    • Multiple Choice Questions
    • Review Questions
    • References
  • Chapter 11 Organizing: Departmentalization, Delegation of Authority, Centralization and Decentralization
    • 11.1 Introduction
    • 11.2 Departmentalization
      • 11.2.1 Objectives of Departmentalization
      • 11.2.2 Bases of Departmentalization
      • 11.2.3 Advantages of Departmentalization
    • 11.3 Delegation of Authority
      • 11.3.1 Steps of Delegating Authority
      • 11.3.2 Principles of Delegation
    • 11.4 Centralization
      • 11.4.1 Merits of Centralized Decision Making
      • 11.4.2 Demerits of Centralized Decision Making
    • 11.5 Decentralization
      • 11.5.1 Merits of Decentralized Decision Making
      • 11.5.2 Demerits of Decentralized Decision Making
    • 11.6 Job Design
      • 11.6.1 Objectives of Job Design
      • 11.6.2 Factors Affecting Job Design
      • 11.6.3 Steps of Job Design
      • 11.6.4 Approaches to Job Design
    • 11.7 Methods of Job Design
      • 11.7.1 Job Rotation
      • 11.7.2 Job Enlargement
      • 11.7.3 Job Enrichment
      • 11.7.4 Work Simplification
    • Keywords
    • Multiple Choice Questions
    • Review Questions
    • References
  • Chapter 12 Human Resource Management
    • 12.1 Introduction
    • 12.2 Human Resource Planning
      • 12.2.1 Components of Human Resource Planning
      • 12.2.2 Steps of Human Resource Planning
      • 12.2.3 Benefits of Human Resource Planning
    • 12.3 Recruitment and Hiring
      • 12.3.1 Recruitment
      • 12.3.2 Hiring
    • 12.4 Selection
      • 12.4.1 Steps of Selection
      • 12.4.2 Advantages of Selection
    • 12.5 Training and Development
      • 12.5.1 Need for Training and Development
      • 12.5.2 Types of Training and Development
      • 12.5.3 Benefits of Training and Development
    • 12.6 Performance Management
      • 12.6.1 Phases of Performance Management Process (PMP)
    • 12.7 Career Planning and Management
      • 12.7.1 Objectives of Career Planning
      • 12.7.2 Purposes of Career Planning
      • 12.7.3 Steps of Career Planning
    • Keywords
    • Multiple Choice Questions
    • Review Questions
    • References
  • Chapter 13 Directing: Foundation of Individual and Group Behaviour
    • 13.1 Introduction
    • 13.2 Characteristics of Directing
    • 13.3 Importance of Directing
    • 13.4 Role of Supervisor
    • 13.5 Functions of Supervisor
    • 13.6 Individual Behaviour in Organization
      • 13.6.1 Factors Affecting Individual Behaviour
      • 13.6.2 Environmental Factors
      • 13.6.3 Organizational Factors
    • 13.7 Group Behaviour
      • 13.7.1 Advantages of Group Behaviour
      • 13.7.2 Group Effectiveness
    • 13.8 Characteristics of Groups
    • 13.9 Types of Groups
      • 13.9.1 Formal Groups
      • 13.9.2 Informal Groups
    • 13.10 Distinction Between Formal Groups and Informal Groups
    • 13.11 Formation of Groups
      • 13.11.1 Forming
      • 13.11.2 Storming
      • 13.11.3 Norming
      • 13.11.4 Performing
    • Keywords
    • Multiple Choice Questions
    • Review Questions
    • References
  • Chapter 14 Directing: Motivation Theories and Motivational Techniques
    • 14.1 Introduction
    • 14.2 Theories of Motivation
      • 14.2.1 Maslow’s Theory of Hierarchical Needs
      • 14.2.2 Hertzberg’s Two Factor Theory
      • 14.2.3 McClelland’s Theory of Needs
      • 14.2.4 Vroom’s Theory of Expectancy
      • 14.2.5 Douglas McGregor’s Theory X and Theory Y
      • 14.2.6 Alderfer’s ERG Theory
      • 14.2.7 ERG Theory Vs Maslow’s Theory of Hierarchical Needs
    • 14.3 Motivational Techniques
      • 14.3.1 Financial Incentives
      • 14.3.2 Job Enlargement
      • 14.3.3 Job Enrichment
      • 14.3.4 Job Rotation
      • 14.3.5 Participative Management
      • 14.3.6 Delegation of Authority
      • 14.3.7 Quality of Work Life
      • 14.3.8 Management By Objectives (MBO)
    • 14.4 Leadership
      • 14.4.1 Types/ Traits of Leadership
      • 14.4.2 Leadership Theories
    • Keywords
    • Multiple Choice Questions
    • Review Questions
    • References
  • Chapter 15 Directing: Communication
    • 15.1 Introduction
    • 15.2 Objectives of Communication
    • 15.3 Communication Process
    • 15.4 Types of Communications
      • 15.4.1 Formal Communication
      • 15.4.2 Informal Communication
    • 15.5 Barriers to Communication
    • 15.6 Effective Communication
    • 15.7 Communication and IT
      • 15.7.1 IT Life Cycle
      • 15.7.2 Need for Upgradation
      • 15.7.3 Phases of IT Life Cycle
    • Keywords
    • Multiple Choice Questions
    • Review Questions
    • References
  • Chapter 16 Controlling: Concepts of System, Controlling and Control Techniques
    • 16.1 Introduction
    • 16.2 System
      • 16.2.1 Generalized System
      • 16.2.2 Manufacturing System
    • 16.3 Controlling
      • 16.3.1 Need for Controlling
    • 16.4 Control Techniques
      • 16.4.1 Budgetary Control Techniques
      • 16.4.2 Non-Budgetary Control Techniques
      • 16.4.3 Market Ratios
    • Keywords
    • Multiple Choice Questions
    • Review Questions
    • References
  • Chapter 17 Controlling: Use of Computers and IT Management Control
    • 17.1 Introduction
    • 17.2 Computer
    • 17.3 Information Technology
      • 17.3.1 Company System
    • 17.4 E-Commerce System
    • Keywords
    • Multiple Choice Questions
    • Review Questions
    • References
  • Chapter 18 Controlling: Productivity and Performance Management
    • 18.1 Introduction
    • 18.2 Productivity
      • 18.2.1 Productivity Improvement Strategies
    • 18.3 Scope of Productivity Improvement in Companies
      • 18.3.1 Productivity Improvements in Operations
      • 18.3.2 Finance Function
      • 18.3.3 Marketing Function
      • 18.3.4 Human Resource
    • 18.4 Business Performance Management
      • 18.4.1 Balanced Score Card
    • Keywords
    • Multiple Choice Questions
    • Review Questions
    • References
  • Chapter 19 Controlling: Types of Control and Reporting
    • 19.1 Introduction
    • 19.2 Types of Control
      • 19.2.1 Direct Control
      • 19.2.2 Preventive Control
      • 19.2.3 Merits and Demerits of Preventive Control
    • 19.3 Reporting
      • 19.3.1 Need for Effective Report System
      • 19.3.2 Advantages of Effective Management Reporting System
      • 19.3.3 Attributes of Effective Reporting System
      • 19.3.4 Types of Management Reports
      • 19.3.5 General Classification of Management Reports
      • 19.3.6 Modes of Reporting
    • Keywords
    • Multiple Choice Questions
    • Review Questions
    • References
R. Panneerselvam, Ph.D, served as a Professor of Operations and Systems, Department of Management Studies at School of Management, Pondicherry University. He possesses a total of 41 years of teaching and research experience at Anna University and Pondicherry University put together. He served as the chairman of Computer Society of India (Pondicherry Chapter) and life member of Indian Institution of Industrial Engineering and Computer Society of India. Prof. Panneerselvam has published more than 100 research articles in leading national and international journals and has authored 21 textbooks.
P. Sivasankaran, PhD, is Associate Professor, Department of Mechanical Engineering at Manakula Vinayagar Institute of Technology, Puducherry. Earlier, he worked in the Mechanical Engineering Department of engineering colleges, including Anna University for 13 years. Prof. Sivasankaran has published many research articles in leading national and international journals and has authored seven textbooks. His areas of research interest include Assembly line balancing, Unrelated parallel machines scheduling, Simulation, Design for Manufacturing (DFM), Mechanical system design, JIT manufacturing, TQM, etc. He holds five design patents to his credit.

MANAGEMENT PRINCIPLES AND PRACTICE

MANAGEMENT PRINCIPLES AND PRACTICE

Dr. R. Panneerselvam

Professor (Retd.)

Department of Management Studies

Pondicherry University

Dr. P. Sivasankaran

Associate Professor

Department of Mechanical Engineering

Manakula Vinayagar Institute of Technology

Puducherry

Vijay Nicole Imprints Private Limited

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Management Principles and Practice

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Dedications

Dr. R. Panneerselvam

dedicates this book to his dear wife

Late Mrs. Jeeva Panneerselvam,

who had been his great strength till her demise and she continues to be divine guiding force, and evergreen memory for his rest of life

Dr. P. Sivasankaran

dedicates this book to his loving mother

Late Mrs. Jeeva Panneerselvam,

who showered love and affection on him all through her stay on earth and she continues to be divine guiding force for him

Contents

Preface

Chapter 1Introduction: Management, Managerial Roles and Skills

1.1Management

1.1.1Universal Nature

1.1.2Goal Oriented

1.1.3Continuous Process

1.1.4Multi-dimensionality

1.1.5Group Activity

1.1.6Dynamic Function

1.1.7Intangibility

1.2Is Management Arts or Science?

1.3Entrepreneur Vs Manager

1.3.1Entrepreneur

1.3.2Manager

1.4Types of Managers

1.4.1Top Level Managers

1.4.2Middle Level Managers

1.4.3Bottom Level / First Line Managers

1.4.4Team Leaders

1.5Managerial Roles And Skills

1.5.1Interpersonal Role

1.5.2Informational Role

1.5.3Decisional Role

1.6Managerial Skills

1.6.1Leadership Skills

1.6.2Planning and Strategy Skills

1.6.3Communication Skills

1.6.4Organizational skills

Keywords

Multiple Choice Questions

Review Questions

References

Chapter 2Evolution of Management

2.1Introduction

2.2Early Management Thought

2.3Classical Approach

2.3.1Scientific Management

2.3.2Administrative Management

2.3.3Bureaucratic Management

2.4Modern Management Approaches

2.4.1Approach of Mary Parker Follett

2.4.2Maslow’s Theory of Need Hierarchy

2.4.3Douglas McGregor Theory of Management

2.5Human Relations Approach

2.5.1Behavioural Science Theory

2.5.2Contingency Theory

2.6Quantitative Approach of Management Thought

2.6.1Management Science/ Operations Research

2.6.2Production and Operations Management

2.7System Approach of Management Thought

Keywords

Multiple Choice Questions

Review Questions

References

Chapter 3Business Organizations / Firms

3.1Introduction

3.1.1Profit Maximization Theory

3.2Sole Proprietorship

3.3Partnership

3.4Corporation

3.5Limited Liability Company (LLC)

3.6Cooperative

3.6.1Centralized Cooperative Structure

3.6.2Subsidiary Cooperative Structure

3.6.3Joint Cooperative Structure

3.7Joint Stock Company

3.7.1Charted Company

3.7.2Registered Company

3.8Public Sector Enterprises

3.8.1Types of Public Sector Enterprises

3.9Private Sector Enterprises

Keywords

Multiple Choice Questions

Review Questions

References

Chapter 4Organization Culture and Environment

4.1Introduction

4.2People Behind Creation of Organization Culture

4.2.1Combination of Traits – Genuine Employees

4.2.2Combination of Traits – Undesirable Characteristics

4.2.3Autocratic Leadership Style and Committed Employees

4.2.4Autocratic Leadership Style and Unfair Employees

4.3Types of Organization Cultures

4.3.1Clan Culture

4.3.2Adhocracy Culture

4.3.3Market Culture

4.3.4Hierarchy Culture

4.4Workplace Culture

4.4.1Person Culture and Market Culture

4.4.2Adaptive Culture and Adhocracy Culture

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Table of contents
  • Cover
  • Title Page
  • Copyright Page
  • Dedications
  • Contents
  • Preface
  • Chapter 1 Introduction: Management, Managerial Roles and Skills
    • 1.1 Management
      • 1.1.1 Universal Nature
      • 1.1.2 Goal Oriented
      • 1.1.3 Continuous Process
      • 1.1.4 Multi-dimensionality
      • 1.1.5 Group Activity
      • 1.1.6 Dynamic Function
      • 1.1.7 Intangibility
    • 1.2 Is Management Arts or Science?
    • 1.3 Entrepreneur Vs Manager
      • 1.3.1 Entrepreneur
      • 1.3.2 Manager
    • 1.4 Types of Managers
      • 1.4.1 Top Level Managers
      • 1.4.2 Middle Level Managers
      • 1.4.3 Bottom Level / First Line Managers
      • 1.4.4 Team Leaders
    • 1.5 Managerial Roles And Skills
      • 1.5.1 Interpersonal Role
      • 1.5.2 Informational Role
      • 1.5.3 Decisional Role
    • 1.6 Managerial Skills
      • 1.6.1 Leadership Skills
      • 1.6.2 Planning and Strategy Skills
      • 1.6.3 Communication Skills
      • 1.6.4 Organizational skills
    • Keywords
    • Multiple Choice Questions
    • Review Questions
    • References
  • Chapter 2 Evolution of Management
    • 2.1 Introduction
    • 2.2 Early Management Thought
    • 2.3 Classical Approach
      • 2.3.1 Scientific Management
      • 2.3.2 Administrative Management
      • 2.3.3 Bureaucratic Management
    • 2.4 Modern Management Approaches
      • 2.4.1 Approach of Mary Parker Follett
      • 2.4.2 Maslow’s Theory of Need Hierarchy
      • 2.4.3 Douglas McGregor Theory of Management
    • 2.5 Human Relations Approach
      • 2.5.1 Behavioural Science Theory
      • 2.5.2 Contingency Theory
    • 2.6 Quantitative Approach of Management Thought
      • 2.6.1 Management Science/ Operations Research
      • 2.6.2 Production and Operations Management
    • 2.7 System Approach of Management Thought
    • Keywords
    • Multiple Choice Questions
    • Review Questions
    • References
  • Chapter 3 Business Organizations / Firms
    • 3.1 Introduction
      • 3.1.1 Profit Maximization Theory
    • 3.2 Sole Proprietorship
    • 3.3 Partnership
    • 3.4 Corporation
    • 3.5 Limited Liability Company (LLC)
    • 3.6 Cooperative
      • 3.6.1 Centralized Cooperative Structure
      • 3.6.2 Subsidiary Cooperative Structure
      • 3.6.3 Joint Cooperative Structure
    • 3.7 Joint Stock Company
      • 3.7.1 Charted Company
      • 3.7.2 Registered Company
    • 3.8 Public Sector Enterprises
      • 3.8.1 Types of Public Sector Enterprises
    • 3.9 Private Sector Enterprises
    • Keywords
    • Multiple Choice Questions
    • Review Questions
    • References
  • Chapter 4 Organization Culture and Environment
    • 4.1 Introduction
    • 4.2 People Behind Creation of Organization Culture
      • 4.2.1 Combination of Traits – Genuine Employees
      • 4.2.2 Combination of Traits – Undesirable Characteristics
      • 4.2.3 Autocratic Leadership Style and Committed Employees
      • 4.2.4 Autocratic Leadership Style and Unfair Employees
    • 4.3 Types of Organization Cultures
      • 4.3.1 Clan Culture
      • 4.3.2 Adhocracy Culture
      • 4.3.3 Market Culture
      • 4.3.4 Hierarchy Culture
    • 4.4 Workplace Culture
      • 4.4.1 Person Culture and Market Culture
      • 4.4.2 Adaptive Culture and Adhocracy Culture
      • 4.4.3 Power Culture, Role Culture and Hierarchy Culture
      • 4.4.4 Task Culture and Clan Culture
    • 4.5 Culture Change
      • 4.5.1 Guidelines for Culture Change
    • 4.6 Organization Environment
      • 4.6.1 Internal Environment
      • 4.6.2 External Environment
      • 4.6.3 Factors of Organizational Environment
    • Keywords
    • Multiple Choice Questions
    • Review Questions
  • Chapter 5 Current Trends and Issues in Management
    • 5.1 Introduction
    • 5.2 Emerging Trends in Management
      • 5.2.1 Total Quality Management
      • 5.2.2 Companywide Continuous Improvement
      • 5.2.3 Crisis Management
    • 5.3 Risk Management
      • 5.3.1 Risk Management Process
      • 5.3.2 Advantages of Risk Management
    • 5.4 Change Management
    • 5.5 Resistance to Change
    • 5.6 Change Through Organizational Hierarchy
    • 5.7 International Business and Global Practices
    • 5.8 Systems and Procedures
      • 5.8.1 Six Sigma
      • 5.8.2 Knowledge Management
      • 5.8.3 Customer Focused Organizations
    • Keywords
    • Multiple Choice Questions
    • Review Questions
    • References
  • Chapter 6 Strategic Management
    • 6.1 Introduction
    • 6.2 Mission
    • 6.3 Objectives
    • 6.4 Corporate Strategies
      • 6.4.1 Stable Growth Strategy
      • 6.4.2 Growth Strategy
      • 6.4.3 Endgame Strategies
      • 6.4.4 Retrenchment Strategies
      • 6.4.5 Combination Strategy
    • 6.5 Generic Competitive Strategies
    • 6.6 Functional Strategies
      • 6.6.1 Marketing Strategies
      • 6.6.2 Financial Strategies
      • 6.6.3 Human Resource Strategies
      • 6.6.4 Operations Strategies
    • Keywords
    • Review Questions
    • References
  • Chapter 7 Planning
    • 7.1 Introduction
    • 7.2 Nature / Characteristics and Purpose of Planning
      • 7.2.1 Nature of Planning
      • 7.2.2 Purpose of Planning
    • 7.3 Planning Process
      • 7.3.1 Planning Premises and its Types
      • 7.3.2 Setting Organizational Objectives
      • 7.3.3 Searching and Listing Future Courses of Action
      • 7.3.4 Evaluating Courses of Action
      • 7.3.5 Selecting the Best Course of Action
      • 7.3.6 Development of Plans to Implement Best Course of Action
      • 7.3.7 Conversion of implementation Plan into Action
      • 7.3.8 Follow-up of Implemented Plan
    • Keywords
    • Multiple Choice Questions
    • Review Questions
    • References
  • Chapter 8 Types of Planning and Planning Tools
    • 8.1 Introduction
    • 8.2 Types of Planning
      • 8.2.1 Strategic Planning
      • 8.2.2 Tactical Planning
      • 8.2.3 Operational Planning
    • 8.3 Planning Tools and Techniques
      • 8.3.1 Forecasting
      • 8.3.2 Contingency Planning
      • 8.3.3 Scenario Planning
      • 8.3.4 Benchmarking Technique
      • 8.3.5 Stages of Benchmarking Process
      • 8.3.6 Benefits of Benchmarking
      • 8.3.7 Participative Planning
      • 8.3.8 Use of Staff Planners
      • 8.3.9 Aggregate Planning
    • Keywords
    • Multiple Choice Questions
    • Review Questions
    • References
  • Chapter 9 Decision Making
    • 9.1 Introduction
    • 9.2 Types of Decisions
      • 9.2.1 Programmed Decisions and Non-programmed Decisions
      • 9.2.2 Operational, Tactical and Strategic Decisions
      • 9.2.3 Organizational and Personal Decisions
      • 9.2.4 Individual Decisions and Group Decisions
    • 9.3 Characteristics of Decisions
    • 9.4 Decision Making Process
    • 9.5 Decision Making Tools
      • 9.5.1 Deterministic Decision Environment
      • 9.5.2 Probability Decision Environment
      • 9.5.3 Uncertain Decision Environment
    • Keywords
    • Multiple Choice Questions
    • Review Questions
    • References
  • Chapter 10 Organizing: Basics and Organization Charts
    • 10.1 Introduction
    • 10.2 Organization Process
    • 10.3 Nature and Purpose of Organizing
    • 10.4 Formal and Informal Organization
    • 10.5 Organization Charts
      • 10.5.1 Line Organization Chart
      • 10.5.2 Line and Staff Organization Chart
      • 10.5.3 Matrix Organization
      • 10.5.4 Project Organization
    • Keywords
    • Multiple Choice Questions
    • Review Questions
    • References
  • Chapter 11 Organizing: Departmentalization, Delegation of Authority, Centralization and Decentralization
    • 11.1 Introduction
    • 11.2 Departmentalization
      • 11.2.1 Objectives of Departmentalization
      • 11.2.2 Bases of Departmentalization
      • 11.2.3 Advantages of Departmentalization
    • 11.3 Delegation of Authority
      • 11.3.1 Steps of Delegating Authority
      • 11.3.2 Principles of Delegation
    • 11.4 Centralization
      • 11.4.1 Merits of Centralized Decision Making
      • 11.4.2 Demerits of Centralized Decision Making
    • 11.5 Decentralization
      • 11.5.1 Merits of Decentralized Decision Making
      • 11.5.2 Demerits of Decentralized Decision Making
    • 11.6 Job Design
      • 11.6.1 Objectives of Job Design
      • 11.6.2 Factors Affecting Job Design
      • 11.6.3 Steps of Job Design
      • 11.6.4 Approaches to Job Design
    • 11.7 Methods of Job Design
      • 11.7.1 Job Rotation
      • 11.7.2 Job Enlargement
      • 11.7.3 Job Enrichment
      • 11.7.4 Work Simplification
    • Keywords
    • Multiple Choice Questions
    • Review Questions
    • References
  • Chapter 12 Human Resource Management
    • 12.1 Introduction
    • 12.2 Human Resource Planning
      • 12.2.1 Components of Human Resource Planning
      • 12.2.2 Steps of Human Resource Planning
      • 12.2.3 Benefits of Human Resource Planning
    • 12.3 Recruitment and Hiring
      • 12.3.1 Recruitment
      • 12.3.2 Hiring
    • 12.4 Selection
      • 12.4.1 Steps of Selection
      • 12.4.2 Advantages of Selection
    • 12.5 Training and Development
      • 12.5.1 Need for Training and Development
      • 12.5.2 Types of Training and Development
      • 12.5.3 Benefits of Training and Development
    • 12.6 Performance Management
      • 12.6.1 Phases of Performance Management Process (PMP)
    • 12.7 Career Planning and Management
      • 12.7.1 Objectives of Career Planning
      • 12.7.2 Purposes of Career Planning
      • 12.7.3 Steps of Career Planning
    • Keywords
    • Multiple Choice Questions
    • Review Questions
    • References
  • Chapter 13 Directing: Foundation of Individual and Group Behaviour
    • 13.1 Introduction
    • 13.2 Characteristics of Directing
    • 13.3 Importance of Directing
    • 13.4 Role of Supervisor
    • 13.5 Functions of Supervisor
    • 13.6 Individual Behaviour in Organization
      • 13.6.1 Factors Affecting Individual Behaviour
      • 13.6.2 Environmental Factors
      • 13.6.3 Organizational Factors
    • 13.7 Group Behaviour
      • 13.7.1 Advantages of Group Behaviour
      • 13.7.2 Group Effectiveness
    • 13.8 Characteristics of Groups
    • 13.9 Types of Groups
      • 13.9.1 Formal Groups
      • 13.9.2 Informal Groups
    • 13.10 Distinction Between Formal Groups and Informal Groups
    • 13.11 Formation of Groups
      • 13.11.1 Forming
      • 13.11.2 Storming
      • 13.11.3 Norming
      • 13.11.4 Performing
    • Keywords
    • Multiple Choice Questions
    • Review Questions
    • References
  • Chapter 14 Directing: Motivation Theories and Motivational Techniques
    • 14.1 Introduction
    • 14.2 Theories of Motivation
      • 14.2.1 Maslow’s Theory of Hierarchical Needs
      • 14.2.2 Hertzberg’s Two Factor Theory
      • 14.2.3 McClelland’s Theory of Needs
      • 14.2.4 Vroom’s Theory of Expectancy
      • 14.2.5 Douglas McGregor’s Theory X and Theory Y
      • 14.2.6 Alderfer’s ERG Theory
      • 14.2.7 ERG Theory Vs Maslow’s Theory of Hierarchical Needs
    • 14.3 Motivational Techniques
      • 14.3.1 Financial Incentives
      • 14.3.2 Job Enlargement
      • 14.3.3 Job Enrichment
      • 14.3.4 Job Rotation
      • 14.3.5 Participative Management
      • 14.3.6 Delegation of Authority
      • 14.3.7 Quality of Work Life
      • 14.3.8 Management By Objectives (MBO)
    • 14.4 Leadership
      • 14.4.1 Types/ Traits of Leadership
      • 14.4.2 Leadership Theories
    • Keywords
    • Multiple Choice Questions
    • Review Questions
    • References
  • Chapter 15 Directing: Communication
    • 15.1 Introduction
    • 15.2 Objectives of Communication
    • 15.3 Communication Process
    • 15.4 Types of Communications
      • 15.4.1 Formal Communication
      • 15.4.2 Informal Communication
    • 15.5 Barriers to Communication
    • 15.6 Effective Communication
    • 15.7 Communication and IT
      • 15.7.1 IT Life Cycle
      • 15.7.2 Need for Upgradation
      • 15.7.3 Phases of IT Life Cycle
    • Keywords
    • Multiple Choice Questions
    • Review Questions
    • References
  • Chapter 16 Controlling: Concepts of System, Controlling and Control Techniques
    • 16.1 Introduction
    • 16.2 System
      • 16.2.1 Generalized System
      • 16.2.2 Manufacturing System
    • 16.3 Controlling
      • 16.3.1 Need for Controlling
    • 16.4 Control Techniques
      • 16.4.1 Budgetary Control Techniques
      • 16.4.2 Non-Budgetary Control Techniques
      • 16.4.3 Market Ratios
    • Keywords
    • Multiple Choice Questions
    • Review Questions
    • References
  • Chapter 17 Controlling: Use of Computers and IT Management Control
    • 17.1 Introduction
    • 17.2 Computer
    • 17.3 Information Technology
      • 17.3.1 Company System
    • 17.4 E-Commerce System
    • Keywords
    • Multiple Choice Questions
    • Review Questions
    • References
  • Chapter 18 Controlling: Productivity and Performance Management
    • 18.1 Introduction
    • 18.2 Productivity
      • 18.2.1 Productivity Improvement Strategies
    • 18.3 Scope of Productivity Improvement in Companies
      • 18.3.1 Productivity Improvements in Operations
      • 18.3.2 Finance Function
      • 18.3.3 Marketing Function
      • 18.3.4 Human Resource
    • 18.4 Business Performance Management
      • 18.4.1 Balanced Score Card
    • Keywords
    • Multiple Choice Questions
    • Review Questions
    • References
  • Chapter 19 Controlling: Types of Control and Reporting
    • 19.1 Introduction
    • 19.2 Types of Control
      • 19.2.1 Direct Control
      • 19.2.2 Preventive Control
      • 19.2.3 Merits and Demerits of Preventive Control
    • 19.3 Reporting
      • 19.3.1 Need for Effective Report System
      • 19.3.2 Advantages of Effective Management Reporting System
      • 19.3.3 Attributes of Effective Reporting System
      • 19.3.4 Types of Management Reports
      • 19.3.5 General Classification of Management Reports
      • 19.3.6 Modes of Reporting
    • Keywords
    • Multiple Choice Questions
    • Review Questions
    • References
Biographical note
R. Panneerselvam, Ph.D, served as a Professor of Operations and Systems, Department of Management Studies at School of Management, Pondicherry University. He possesses a total of 41 years of teaching and research experience at Anna University and Pondicherry University put together. He served as the chairman of Computer Society of India (Pondicherry Chapter) and life member of Indian Institution of Industrial Engineering and Computer Society of India. Prof. Panneerselvam has published more than 100 research articles in leading national and international journals and has authored 21 textbooks.
P. Sivasankaran, PhD, is Associate Professor, Department of Mechanical Engineering at Manakula Vinayagar Institute of Technology, Puducherry. Earlier, he worked in the Mechanical Engineering Department of engineering colleges, including Anna University for 13 years. Prof. Sivasankaran has published many research articles in leading national and international journals and has authored seven textbooks. His areas of research interest include Assembly line balancing, Unrelated parallel machines scheduling, Simulation, Design for Manufacturing (DFM), Mechanical system design, JIT manufacturing, TQM, etc. He holds five design patents to his credit.
Excerpt

MANAGEMENT PRINCIPLES AND PRACTICE

MANAGEMENT PRINCIPLES AND PRACTICE

Dr. R. Panneerselvam

Professor (Retd.)

Department of Management Studies

Pondicherry University

Dr. P. Sivasankaran

Associate Professor

Department of Mechanical Engineering

Manakula Vinayagar Institute of Technology

Puducherry

Vijay Nicole Imprints Private Limited

CHENNAI

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Management Principles and Practice

ISBN: 978-81-19243-04-4

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Copyright © 2023, Vijay Nicole Imprints Private Limited

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Information contained in this work has been obtained by publishers, from sources believed to be reliable. However, neither publishers nor copyright holders guarantee the accuracy or completeness of any information published herein, and neither publishers nor copyright holders shall be responsible for any errors, omissions, or damages arising out of use of this information. This work is published with the understanding that publishers and copyright holders are supplying information but are not attempting to render engineering or other professional services. If such services are required, the assistance of an appropriate professional should be sought.

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Dedications

Dr. R. Panneerselvam

dedicates this book to his dear wife

Late Mrs. Jeeva Panneerselvam,

who had been his great strength till her demise and she continues to be divine guiding force, and evergreen memory for his rest of life

Dr. P. Sivasankaran

dedicates this book to his loving mother

Late Mrs. Jeeva Panneerselvam,

who showered love and affection on him all through her stay on earth and she continues to be divine guiding force for him

Contents

Preface

Chapter 1Introduction: Management, Managerial Roles and Skills

1.1Management

1.1.1Universal Nature

1.1.2Goal Oriented

1.1.3Continuous Process

1.1.4Multi-dimensionality

1.1.5Group Activity

1.1.6Dynamic Function

1.1.7Intangibility

1.2Is Management Arts or Science?

1.3Entrepreneur Vs Manager

1.3.1Entrepreneur

1.3.2Manager

1.4Types of Managers

1.4.1Top Level Managers

1.4.2Middle Level Managers

1.4.3Bottom Level / First Line Managers

1.4.4Team Leaders

1.5Managerial Roles And Skills

1.5.1Interpersonal Role

1.5.2Informational Role

1.5.3Decisional Role

1.6Managerial Skills

1.6.1Leadership Skills

1.6.2Planning and Strategy Skills

1.6.3Communication Skills

1.6.4Organizational skills

Keywords

Multiple Choice Questions

Review Questions

References

Chapter 2Evolution of Management

2.1Introduction

2.2Early Management Thought

2.3Classical Approach

2.3.1Scientific Management

2.3.2Administrative Management

2.3.3Bureaucratic Management

2.4Modern Management Approaches

2.4.1Approach of Mary Parker Follett

2.4.2Maslow’s Theory of Need Hierarchy

2.4.3Douglas McGregor Theory of Management

2.5Human Relations Approach

2.5.1Behavioural Science Theory

2.5.2Contingency Theory

2.6Quantitative Approach of Management Thought

2.6.1Management Science/ Operations Research

2.6.2Production and Operations Management

2.7System Approach of Management Thought

Keywords

Multiple Choice Questions

Review Questions

References

Chapter 3Business Organizations / Firms

3.1Introduction

3.1.1Profit Maximization Theory

3.2Sole Proprietorship

3.3Partnership

3.4Corporation

3.5Limited Liability Company (LLC)

3.6Cooperative

3.6.1Centralized Cooperative Structure

3.6.2Subsidiary Cooperative Structure

3.6.3Joint Cooperative Structure

3.7Joint Stock Company

3.7.1Charted Company

3.7.2Registered Company

3.8Public Sector Enterprises

3.8.1Types of Public Sector Enterprises

3.9Private Sector Enterprises

Keywords

Multiple Choice Questions

Review Questions

References

Chapter 4Organization Culture and Environment

4.1Introduction

4.2People Behind Creation of Organization Culture

4.2.1Combination of Traits – Genuine Employees

4.2.2Combination of Traits – Undesirable Characteristics

4.2.3Autocratic Leadership Style and Committed Employees

4.2.4Autocratic Leadership Style and Unfair Employees

4.3Types of Organization Cultures

4.3.1Clan Culture

4.3.2Adhocracy Culture

4.3.3Market Culture

4.3.4Hierarchy Culture

4.4Workplace Culture

4.4.1Person Culture and Market Culture

4.4.2Adaptive Culture and Adhocracy Culture

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