MBA and class notes

Tuesday, 25 December 2012

Nature of Management and MBA class notes

Discuss the nature of the management.

Nature of Management
The nature of management has the following features.

Universal process: - Management is universal in nature; it is applied in all types of process like commercial, social or political. Management exists everywhere in universe. The basic principles of management can be applied everywhere, whether they are business or non-business organization.

Continuous Process: - Management is a never ending process. Management is a continuous process because it always carries the past decisions for the future course of action to achieve organization goals.

Multi-disciplinary method: - Management is basically multi-disciplinary; it depends on the proper knowledge and skill of various disciplines such as economics statistics, anthropology, psychology, sociology etc.

Group activity: - Management requires the use of group-efforts to achieve their goal. Management is a vital part of group activities. Management unites with their goal what they cannot achieve individually.

Intangible force: - Management is intangible. It is an unseen force, but its presents seem in the form of results.

Social Management: - Management is a social process in nature, it essentially involves managing people, it concern to developing, retaining and motivating people at work place and also care of their satisfaction.

Coordinating force: - Management cannot do anything by them. They should get their work done by organization’s member. In the any organization, management coordinates the efforts of human recourse through orderly.

 Goal oriented: - Management is a goal oriented in nature. It works only to achieve particular goal which decide by the organization.

Relative, not absolute principles: - Management principles are relative not absolute, because they should be applied according to need and condition of the organization.

An integrative method: - Management integrated the living and non-living resources to achieve the desired goal.

  Notes- this post shared here are base on my study in case you find anything wrong and missing points than please bring it to my notice.

Recommended links

Modern management theory                                                           

Spiritual links

Monday, 24 December 2012

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Thursday, 20 December 2012

Importance of management and MBA class notes

Importance of Management

Management is the catalyst and brain of industry without which no any organization can established or survive in the business environment. But, management was not know in old times as it presently seems, it became this world at the beginning of the industrial revolution when the  scale of production became vary large and need to control  its various stage of production and distribution problems in the industries. This problem required an immediate action and attention for the coordinate of work. Thus management was born in industries to solve and manage industrial conditions. Now management is worldwide in the modern industry. It becomes essential part of modern industrial world.

According to Trucker, "management is the dynamic life-giving element in every business. Without it the resources of production remain resources and never become produc­tion. Management is the catalyst without which no organization can survive and grow”.

According to Peter Druker,” management is the crucial factor in economic and social development.”

Thus the importance of management can be summarized as below-
  • Formulate objectives and goals: - Management determines the objectives and main goals for the organization.
  • Innovation: - Management encourages to using new technology and ideas. Innovation makes the organization more efficient.
  • Guidance: - Management provides guidance to the workers to work properly and efficiently.
  • Motivation: - Management motivates the workers to work hard by providing them various incentives. They also solve their personal problems.In this way they can boost the productivity and profitability of the organization.
  • Reducing cost by increasing output: - Management does work through planning, organizing and controlling; thus, it reducing the cost and increasing the output.
  • Optimum utilization of resources: - Management utilizes all the physical and human resource effectively; this leads to efficiency in organization. Management provides maximum utilization of scare resources by selecting its best possible alternate. It avoids wastage to utilize proper resources.
  • Selection of well qualified human power: - Management selects well qualified and expert human power for different works.
  • Establishes Equilibrium:- Management helps in serving an organization in its dynamic environment. It enables the organization to survive in changing environment. The environment of organization changes due to external complexities and hence management has to deal with it. To establish sound organizational structure is one of the objectives of management.
  • Useful for society: - Management provided good standard of living to his workers. And management provides useful and quality products to the consumers.

At the last, in the word of Peter Druker,
          “Management is the dynamic life giving element in every business without it the resources of production remains resources and never become production”.

Saturday, 15 December 2012

Objectives of Management- in principles of management..- MBA first year class notes.

 MBA and class notes

Principles of Management 

Objectives of management

Managing an organization effectively requires the formulation of clear objectives. The objective is well defined, and the objective points (question) of making necessary efforts to achieve it. Objects and aims direct a man to proceed in a certain way for achieving organizational aims.

Objective serves as guidelines or landmarks or road lines for action and efforts to achieve managerial goal. Well defined objective steers an organization to success.
According to George R. Terry, "A managerial objective is the goal which prescribes definite scope and suggests the efforts of a manager."
In the words of Peter F. Drucker, "Objectives in the key areas are the 'instrument panel' necessary to pilot the business enterprise. Without them the management flies by the 'seat of the pants' without landmarks, without maps and without having flow route before."
According to Heinz Weihrich and Harold Koontz defined objectives of management as, “A systematic manner and that is consciously directed toward that effective and efficient achievement of organizational and individual objectives”.
Objective provides a direction for the organization goal and quality of work to be accomplished within a given period of time.
Objectives are the values which are to be achieved by the organization. These objectives set by the higher management; and every level of management, a supervisor of a team sets the objectives and also decides the process to achieve them. For achieving the objectives, it is essential that the managerial objectives are clear and definite.

The main objectives of management:-
  • To increasing organizational effectiveness.
  • To achieve optimum utilization of various resources.
  • To have co-ordination between various department in the organization.
  • To have co-ordination between various agencies, and company.
  • To control the material quality.
  • To reduces the execution time for various activities of the organization.
  • To control the quality of workmanship.
  • To manage and control economy execution. 

 Notes: this post shared here are base on my knowledge and study in case you find anything wrong and missing points than bring it to my notice.

Recommended Links

Monday, 3 September 2012

Son of God.. The Great Indian Sage and Seer... Shri Ram Sharma Acharaya.- he is a lighting the spiritual path.


” Bhoor bhoovah sovah tats-vitur varenyam  bhargo 
devasya dhee- mahi dhiyao yo- nah prachodayat”

Shri Ram Sharma was a Indian sage and seer. He pioneered the revival of spirituality. He was a pious of Gayatri Mata and great student of Dada Guru shri Sarweshwra Nand. He was integrated the modern and ancient science and religion. Pandit Shriram Sharma was great devotee of Goddess Gayatri. He was master in the highest kind of Gayatri Shadana and Tantra which is described in Vedas and Hinduism. He gave simple shadhana method which could be easily pursued by the common person.

Shriram Sharma Acharya was born on the 20th September 1911 as the son of  Pandit Roopkishore Sharma and Dankunvari Devi in Anvalkhera, dist. Agra, India.

Shriram Sharma Acharya personality was a pious, yogi, Spiritual scientist, prominent philosopher, researcher, writer freedom fighter, eminent scholar and visionary of new era.

The Establishment of Shantikunj
He was a founder of the All World Gayatri Priwar, Which has its headquarters at Shantikunj Haridwar, India; Established in 1971.  Shantikunj initiated and guided by pandit  Shriram Sharma Acharya ji’s vision, has grown into a sovereign university. The unique spiritual austere abode, from where the great Gayatri moment was launched by Pandit Shriram Sharma Acharya ji. The Place has had considerable growth and development with a wide range of followers given to the powerful austere pursuit of Gayatri, including meditation, havan, Mantra chatting.

Last moment
The great sage lived an ideal life for 80 years and voluntarily shed his physical sheath on Gayatri Jayantri-2nd June, 1990 at Haridwar.

He authored more than 3000 inspiring literature. He explains the philosophy of Upanishads and created new Puranas and Pyagaya Purana.

Jai Guru Dev… Jai Ma Gayatri 

Note: This post shared here are base on my Knowledge in case you find anything wrong and missing points than please bring it to my notice.


Recommended Links 
on Management notes (MBA and

Sunday, 2 September 2012

Modern Management theory in principle of management,

MBA and class notes

Modern Management Theory

Management is one or the other form has existed in every nook and corner of the world since the dawn of civilization. Modern Management has grown with the growth of social-economics and scientific institution. Modern view consists that a worker does not work for only money. They work for their satisfaction and happiness with good living style. Here Non- financial award is most important factor.

Modern management theories started after 1950s. Modern management theory focuses the development of each factor of workers and organization. Modern management theory refers to emphasizing the use of systematic mathematical techniques in the system with analyzing and understanding the inter-relationship of management and workers in all aspect.
 It has following three Streams-
  • Quantitative Approach
  • System Approach
  • Contingency Approach

Quantitative Approach:

Quantitative approach also called Operation Research.  Quantitative approach is a scientific method. It emphasizes the use of statistical model and systematic mathematical techniques to solving complex management problems. Its helps the management to making decisions in operations. It can only suggest the alternatives based on statistical data. It cannot take final decision.

It helps the management for improving their decision making by increasing the number of alternatives and giving faster decisions on any problem. Management can easily calculate the risk and benefit of various actions.

Major contributors in Quantitative Approach are-
Johan MacDonald
George R. Terry
Andrew Szilagyi

System approach:

System approach was developed inlate1960s. Herbert A. Simon is the father of system theory. A  System is defined as a set of regularly interacting or inter - dependent components that create as a whole unit. The system concept enables us to see the critical variables and constraints and their interactions with one another.

According to Cleland and King; “ A system is composed of related and dependent elements which  when in interaction from a unity whole”.

Characteristics of system approach:
  • A system must have some specific components, units or sub units.
  • A Change in one system affects the other subsystems.
  • Every system is influenced by super system.
  • All systems along their subsystem must have some common objectives.
  • A system is a goal-oriented.
  • A system cannot survive in isolation.

Major contributors in system theories are-
  1. Daniel Katz,
  2. Robert L. Khan,
  3. Richard A. Johnson.

Contingency Approach:

Contingency Approach also knows as situational approach. In 1980s, it is recognized as a key to effective management. This approach accepts the dynamics and complexities of the organization structure. An organization is affected by its environment and environment is composed by physical resources, climate, persons, culture, economic and market conditions and their laws.
 This approach argues that there is no one universally applicable set of rules by which to manage organization.  

Major contributors in the contingency theories are-
  1. G.M. Stalker,
  2. Joan Woodward,
  3. Tom Burns,
  4. Paul R. Lawrence,
  5. L.W. Lorsch.

Modern management theory depends upon System approach and Contingency approach. Management is influenced by Internal and external environment. Appropriate techniques are determined by situation and Environmental factors of an organization.
     Thus the conclusion is that there cannot be any fixed universal principles of management and organizations.

Nb: In near future I will be sharing a post on “Objectives of management”.

Note: This post shared here are base on my study in case you find anything wrong and missing points than please bring it to my notice.

Tuesday, 28 August 2012

Class notes on "Neo- classical theory" (principle of management) for MBA- 1st year student

MBA and class notes

Evolution of Management Thought

Neo- Classical Theory

Neo- classical theory is also referred to as behavioral science approach to modifying and improving the classical theory.  While classical theories focused more on structure and physical aspects of the worker and Neo-classical theory gives importance to human and social aspects of the worker and his relations in the organization.
The neo-classical theory is based on the Hawthrone experiments. Elton Mayo conducted the Hawthrone experiments at Hawthron plant of General Electronic Company (GEC) between 1927 and 1993 at Chicago with 30,000 workers. The Hawthron plant was manufacturing telephone system bell. The objective of the experiment was to find out the behavior and attitude of workers at workplace under better working conditions. In the company, when management provide the benefits of medical allowance and pension with recreational facilities. Even thought workers get all facilities but the productivity was not up to expectation. So, in 1924, the professor Elton Mayo and his research team investigate the reasons for dissatisfaction of employees and decrease in productivity.

Four Phase of Hawthrone experiments:
Prof. Elton Mayo and his team conducted researches in four phases.
  • Illumination experiments (1924 – 1927)
  • Relay assembly room experiments (1927 – 1928)
  • Mass interviewing programme (1928 -1930)
  • Bank wiring room study (1931 – 1932)

 Result of Hawthrone Experiments:
  • Motivation: Employees are not motivated by only money (bonus scheme and incentive).
  • Communication:  communication helps the management and employees to have better mutual understanding. Through proper communication, management can easily identified the problem faced by its employees and can easily solve out.
  • Social factors: Social factors are responsible for deciding the level of output.
  • Behavior of workers: workers are not as individual identity but as members of a group in an organization and they have their own norms and beliefs. Workers behavior depends upon his mental level and emotions. Workers began to influence their group behavior towards management.
  • Relationship: Employees do not like order and command. They preferred to maintain amicable relationship with their co-workers. They want co-operative attitude from their superiors.
  • Production level:  Teamwork and Group psychology increases productivity.

Criticism of Hawthrone Experiments:
  • Hawthrone experiment was not conducted scientifically.
  •  In the experiment, various format and structure are not feasible.
  •  Eltone Mayo gives more importance to human aspect and ignoring other important aspects.
  •  Group conflict is prevalent in an organization.
  • Hawthrone experiment did not give any recognition to the forces which are responsible for productivity in the organization.
  • During   experiment, Eltone Mayo has assumed that a satisfied employee would be productive. But the finding was different. There is no link between working condition and productivity.

Major contributors of Neo-classical theory are:

Chris Argyris- He recommended that worker should be given freedom to make their own judgments.

Mary Praker Follett: He referred group influence.

Dougals Me Gorgor: he referred two views.
X-theory- it is based on classical theory and
Y-theory- it is based on neo-classical theory.

Abraham Maslow: He referred individual needs.

Note: This post shared here are base on my study in case you find anything wrong and missing points than please bring it to my notice.

Recommended links
Modern management theory