MANAGEMENT”
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NOTES
BSIT PART PART-1 (2ND SEMESTER) -1 (2ND
Prepared BY: Syed Fateh Ali Shah (06/ITEC/29) M.Ramzan Unar (06/ITEC/61) Qalander Bux (06/ITEC/67)
What is Management? Management is the systematic way of Pleasing, Organizing, and Leading & Controlling Controlling for the achievement of the objective & goals.
Management Functions:There are four management functions. 1- Planning 2- Organizing 3- Leading 4- Controlling
1-Planning:Planning is the process for doing a plain for something & deciding in advance what to do, how to do, when to do & who is to do it.
2- Organizing:It is a process of creating an organization structure with the view that what is done, who is doing them, where the reports are collected & who makes the decisions.
3-Leading:It is a process of motivating & communicating with the organizations, human resources to ensure goals are attained.
5-Controlling / Co-ordination:Controlling is the process to control & monitor all the activities & makes the corrections.
What is Effectiveness? Making right decisions & doing right things at right time in right ways.
What is Efficiency? Using limited resources in such a way that we produce maximum output & the resources are not wasted.
The Role of Management:There are three roles of management. 1- Interpersonal role. 2- Informational role. 3- Decisional role.
1- Interpersonal role:Interpersonal role involves the manager in relationship with other individuals both inside & outside the organization or firm.
2- Informational role:Informational role is the role in which the manager sends the information to other people (managers) or receives the information from other people (managers) on any point of view.
3- Decisional role:The managers use the available information information to make important decisions.
What is a Manager? Some one who manage the entire organization & some one who plains & makes decisions, organizes, leads & controls human, financial, physical & information resources.
Management levels defined:There are three management levels:1- First line managers. 2- Middle managers. 3- Top (or senior) managers.
1- First line managers:Directly responsible for day-to-day operations & monitors the activities of operating employess.
2- Middle managers:Responsible for section or departments, monitors the activities of lower-level managers (first line managers).
3- Top (or senior) managers:Responsible for entire enterprise, manage the organization’s over all goals, strategy & operating policies.
What is an Organization? Organization is a systematic arrangement of people brought together to accomplish some specific purpose or goals. E.g.:- College, University etc.
What is System Approach? A system is a set of interrelated & interdependent interdependent parts arranged in a manner that produces a unified un ified whole. There are two basic types of system:1-Close system. 2-Open system.
1-Close system:A system that is not influenced by & do not interact with their environment.
2-Open system:A system that is influenced by & interact with their environment. In system Approach effectiveness is attained through:Planning, programming, monitoring, controlling controlling etc. E.g.:- military, government agencies, automobiles, insurance, banking etc.
What are types of plans? There are two types of plans. 1-Strategic plans. 2-Tactical or Operational plans.
1-Strategic plans:The plan that apply to the entire organization, establish the organization’s overall overall goals & position the organization organization in terms of its environment. Strategic plans are long term, directional & single use plans.
Long term plans:Plans with a time frame beyond three years. Directional plans:Plans that are flexible & that set out general guidelines. guideline s. Single use plans:A one-time plan specifically designed to meet the needs of a unique situation.
2-Tactical or Operational plans:Plans that specify the details of how the overall goals are to be achieved. Tactical Tactical plans are Short time, Specific & Standing plans. Short term plans:Plans covering one year or less. Specific plans:Plans that are clearly defined & that leave no room for interpretation. Standing Plans:Ongoing plans that provide guidance for activities performed repeatedly.
What are Decision making conditions? There are three conditions managers may face as they make decisions:1-Certainty. 2-Uncertainty. 3-Risk.
1-Certainty:A situation in which a manager can make accurate decisions because the outcome of every alternative is known.
2-Uncertainty:A situation in which a manager do not have full knowledge of alternative outcomes.
3-Risk:A situation in which the decision maker is able to estimate the likelihood of certain outcomes.
What is SWOT analysis? The combined external & internal analyses are called the “SWOT analysis”, because it’s an analysis of the organization’s Strengths, Weakness, Opportunities & Threats. By that managers can identify a strategic niche (suitable position) that the organization organization might exploit.
What is a small business organization? It is an organization that is independently owned, operated & financed. It has fewer than 100 employees & has relatively little impact on its industry.
What are Multinational Corporations(MNCs)? Organizations which maintain significant operations in multiple countries but are managed from a base in the home country. E.g:- Alfa, Mobil Oil & so many companies are among a growing number of firms that earn more than 60% of their revenue from foreign countries.
What is Collectivism? A social framework in which people to act as members of groups & expect others in groups of which they are a part (such as a family or an organization) to look after them & to protect them when they are in trouble.
What are planning tools & techniques? Assessing the environment:The screening of large amounts of information to anticipate (expect) & interpret changes in the environment. The fastest growing area of environmental scanning is “Competitor Intelligence”.
Competitor Intelligence:It is a process by which organizations organizations gather information about their competitors & get answers to questions such as:Who are they? What are they doing? How will what they are doing effect us?
Scenario:A visualization of what the future is likely to be.
