DD: Management

The need for management arises because to maintain effectiveness alongside minimum adverse consequences, group efforts are properly organized, directed and coordinated. The group of people who accept the responsibility of running an organization and directing its activities form the management of that organization.

Objectives of management:

1. Achieving maximum output with minimum effort
2. optimum use of resources 
3. maximum prosperity 
4. human betterment and social justice 

Schools of management:

1. Empirical approach: Understanding of management develops from the study and analysis of cases and from a comparative approach. 
2. Interpersonal Behaviour Approach: Study of management should be based on interpersonal relations.
3. Group Behaviour Approach: Closely related to the interpersonal behaviour approach, but centred on studying the behavioural pattern of members and groups in an organization. 
4. Decision Theory Approach: Rational decision making is the core of management; selection from among possible alternatives of a course of action or policy. 
5. Mathematical Approach: Viewing management exclusively as a system of mathematical models and processes. 
6. Operational Approach: The approach consolidated the vital thinking of all the approaches to management in order to identify and highlight what relates to actual managing and which can be most useful in real life situations. 

Managerial functions can be divided into planning, commanding, controlling, organizing, coordinating.Still another useful method of classifying managerial functions is to group them around the components of planning, organizing, staffing, directing and controlling. While these functions are common to all businesses, the manner in which they are carried out is usually not the same. 

The manager must be an innovator due to constantly changing internal and external business conditions. 

Various Principles of Management

Frederick Taylor

• Popularly known as the father of scientific management.
• His writings reflect practical wisdom and work experience. 
• Triggered a "second industrial revolution" wrt management.
• Stress on time and motion study and efficiency at the shop level.

Henry Fayol

• Father of modern management theory 
• Single administrative science applicable to all types of organizations 

Systems Approach

• Management as a system of interrelationships involving the processes of decision making, communication and balancing.
• Organizations recognized as open, adaptive systems subject to all the pressures and conflicts of the environment.

Contingency Management: Management cannot follow a "one size fits all" approach - the internal functioning of the organization must be consistent with the demands of organization task, technology or external environment and the needs of its members. 

Responsibilities of Management

All three levels of management (top, middle and lower) have obligations towards three social groups:

a) those who have appointed them

b) those whom they manage 

c) the general community 

A manager's role has three phases: interpersonal, informational and decisional. 

Administration vs. Management: Whereas administration is a process of laying down broad policies and objectives of the organization, management directs and guides the operations of an organization towards realizing the objectives set forth by the former.