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Weihrich , Cannice and Koontz, Management, 14th Edition, Mcgraw hill publication. Mba management theory revision notes by narayana rao k. Chapter 1. Management - definition.
It is a process of designing and maintaining environment in which individuals, working together in groups, efficiently accomplish selected aims. Effectiveness: Accomplishment of selected aims. Efficiency: Accomplishment of aims with the least amount of resources. Management is the process of designing and maintaining the environment. Environment — External and Internal.
Internal — Selected objectives, goals, mission, technology, equipment, tools, materials, accepted orders, staff, training, reward systems, recognition and discipline systems, communication systems. The functions of managers. Leading and. Planning involves selecting missions and objectives as well as the actions to achieve them. Planning involves decision making. The decisions require commitment of resources — human and material. Planning identifies and prescribes actions to achieve the objectives of the organization.
These actions have to be split into tasks that can be accomplished by equipment and man combinations. The men have to be grouped and managers have to be assigned to groups to help the operators with daily plans, training, material flow, coordination with other groups etc. Staffing involves filling, and keeping filled, the positions in the organization.
This is done by identifying workforce requirements, inventorying the people available, and recruiting, selecting, placing, promoting, appraising, planning the careers of, compensating, and training or otherwise developing recruits and job holders.
Leading is influencing people so that they will contribute to organizational and group goals. Leadership is interpersonal aspect of managing. Leader needs followers. People tend to follow those who offer means of satisfying their own needs, wishes and desires.
Leading involves concepts and processes of motivation, leadership styles, and communication. Controlling is observing and correcting actions to make sure that they follow designed processes and measuring and correcting individual and organizational performance to ensure that events conform to plans.
Managerial functions at different organizational levels. All Managers carry out all managerial functions. Top level managers spend more time on planning and organizing and direct and control middle mangers.
Middle managers take more active role in staffing and direct and control supervisors or first level managers. First level managers spend more time in directing and controlling the activities of front line employees who actually produce products or services. Managerial skills. Human skills. Technical skills. Problem solving skills Solving challenges that appear periodically by analyzing the problem and synthesizing the solution.
The solution is to be tested and validated. Management Methods. Management Methods — Management Process. Management Methods — business functions. Strategic Management. Marketing Management. Operations Management. Supply Chain Management. Human Resource Management. Financial Management. Information Systems Management. Chapter 4. Missions or Objectives — Objectives or Goals. Strategies — Policies — Procedures — Program. Budget -. Steps in Planning. Management planning tool — management by objectives mbo.
The Nature of Objectives. Hierarchy of Objectives. Multiplicity of Objectives. How to Set Objectives. Quantitative and Qualitative Objectives. Guidelines for Setting Objectives.
Evolving Concepts in MBO. Benefits and weaknesses of mbo. Case — Developing Verifiable Case. Strategies, policies and planning premises. Developing Strategies. Developing Policies. Role of Planning Premises to Guide Planning. The strategic planning process. Inputs to the organization.
Industry Analysis. Enterprise Profile. Orientation, Values and Vision of Executives. Present and Future External Environment. Internal Environment. Development of Alternative Strategies. Evaluation and Choice of Strategies. Consistency Testing and Contingency Planning. Tows matrix strategic alternatives. SO — Vigorously pursue the opportunity. WO — Take up measures to reduce weakness. ST — Challenge the threat. WT — Withdraw from the activity.
Blue ocean strategy —pursuit of opportunities in uncontested market. The authors suggested a framework called strategic canvas. The portfolio matrix: a tool for allocating resources. Major kinds of strategies and policies.
Products or Services. Hierarchy of Strategies. Corporate Level. Business Level. Functional Level. Porter Generic Competitive strategies. Cost leadership. Premising and forecasting. Marketing Research. Forecasting with Delphi Technique. Decision making. Rationality in Decision Making. Development of Alternatives and the Limiting Factor. Heuristics in Decision Making.
Management : a global and entrepreneurial perspective
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Koontz Weihrich Cannice
The thoroughly revised and updated 11th edition of Essentials of Management: An International, Innovation and Leadership Perspective takes an international and innovative view of management. This edition comprehensively covers foundational and emerging managerial insights and practices. It also emphasizes the managerial perspectives found in Silicon Valley. This edition also emphasizes the enhancement of the professional profile and network of its readers with creative exercises and online projects. Harold Koontz, Ph. He was the author or coauthor of 19 books and 90 journal articles, including this book, which was originally called Principles of Management. After his doctorate at Yale, Prof.