Managers are the priceless possessions of an organization. They are the invaluable assets − the invincible heroes − of a company. They motivate people to deliver excellent results. They convert resources into useful products and services. They are there to push the rivals to the wall and take their company to commanding heights. Somehow, they have to meet the ever-rising expectations of all stakeholders. Above all, they have to conduct the show in a highly ethical and socially responsible manner. They have to run the race ahead of completions always and try to win the race. In this economic jungle, there is no room for soft animals. Survival of the fittest is the rule not an exception.
So to get past competition, they have to take every step that is needed. Setting appropriate goals, planning in a systematic way, taking quick decisions, motivating people to give their best and establishing strategic control points to check deviations − are all part of the game. In short, they have to burn their candle of energies in the service of organizational goals. The path chosen by every manager is hazy and foggy. The road blocks seem to be insurmountable most of the time. They have to cross all these hurdles and win the race. In a competitive world, there is a space only for winners. To put their best foot forward, managers have to necessarily depend on time tested principles and practices. They need to press the right button at the right time. They need to shift gears, change routes, and sometimes change colours. They have to wear many hats. Text bookish solutions, many a time, may not work. They have to be creative and innovative in finding solutions to novel, complex, untested problems - which hit businesses almost routinely.
Managerial life, thus, is full of challenges. This does not mean that managers have to drink new wine in a new bottle always in order to survive and get ahead. Past approaches, traditional ways of doing things, time-tested principles and age-old practices that have worked previously can always be looked into in order to find novel solutions to knotty issues. The present work is a humble attempt to present the basics of management in an easy to understand format − well supported by examples from corporate history. The key areas of management, the basic elements of the management process and the major shifts in managerial thinking over the years have been presented in a comprehensive manner − keeping the requirements of students in mind − who in any case are going to be the future managers of this country.
`Principles of Management` is a student-oriented text. It is primarily meant for BBA students of Guru Gobind Singh Indraprastha University. The subject matter has been presented in a lucid and simple style. Besides simplicity, there are several other features that differentiate this book from other textbooks in the marketplace:
- Textual Matter: The text covers lot of ground. Time-tested principles, traditional approaches, basic concepts, evolving theories, emerging ideas, contemporary changes, changing practices and latest thinking in the field − have all been put in one place for the benefit of students. The topics have been presented in a simple, concise and interesting style. Contemporary examples from corporate history have also been included to enrich the contents further.
- Study Aids: Study aids such as tables, charts, figures, examination questions, true/false questions, multiple choice questions, key term exercise, (at the end of each chapter) intelligence tests, creativity puzzles, brain teasers have all been included in appropriate places to aid quick comprehension and easy understanding of the subject.
- Case Studies: 25 case studies have been provided to help the students understand the real life situations that managers are confronted with in their routine life. To clarify things further, possible ways of solving the cases have also been advanced.
- Past Examination Papers With Solutions: Past questions papers of GGS IP University have been provided at the end along with solutions marked to the textual matter presented in the text. The text fully covers the new syllabus of BBA students.
1. Concept and Nature of Management
2. Process and Significance of Management
3. Development and Management Thought
5. Nature, Scope and Importance of Planning
6. Business Forecasting
7. Objective and Management by Objectives
8. Types of Plans
9. Decision Making
10. Corporate Planning and Environmental Analysis
11. Nature and Process of Organizing
13. Span and Control
14. Authority and Responsibility Relationships
15. Delegation and Decentralisation
16. Types of Organization
17. Formal and Informal Organizations
18. Fundamentals of Staffing
19. Direction and Supervision
20. Motivation and Morale
23. Nature and Process of Controlling
24. Techniques of Controlling
Case Studies with Solutions