Management Theory and Practice

1.
1MANAGEMENT THEORY AND PRACTICE
1. What is Management? Levels of management?

Ans: Harold Koontz defined as, “Management is the art of getting things done through and
with people in formally organized groups. It is the art of creating an environment in which
people can perform and individuals could cooperate towards attaining of group goals.
Levels of management
In many organizations, management falls into one of three levels: top, middle, and low.
Managers in smaller companies may fill roles at more than one level, while larger organizations
may have several managers within each level.
 Top: Top-level management typically has an administrative role, and their decisions
affect the entire organization even though they sometimes aren’t involved in the day-to-
day operations. They may have the title of chief executive officer (CEO) or serve on the
board of directors.
 Middle: You find people with executive roles at the middle management level. They
work with both top-level management and supervisors to help workers meet objectives
and boost the company's productivity. At this level, they may be called regional managers
or general managers.
 Low: The final level of management often has a supervisory role. These managers have
titles like shift supervisor, branch manager, or team leader. They work with individuals
and teams to meet goals determined by upper management. They typically have less
influence over company policy compared to the other management levels, but the most
interaction with workers.
2. Explain about Functions of Management?
Ans:. Koontz and O’Donnell have given a very convenient classification of management
functions that are generally accepted they are:
Planning :A plan is a future series of actions decided beforehand. it specifies the objective to be
achieved in the future and the steps required to achieve them. Planning is the most essential
function of management. It is concerned with thinking in advance about what to do and who is
going to do it. It is concerned with the certain determination of a future course of action to
achieve the desired result.
Organising :Organising is the management function of allotting duties, grouping various

activities, establishing authority, and allocating resources necessary to attain the specific plan.
Once the plans are formulated, the organising function reviews the activities and resources
needed to be applied to the plan. It resolves the activities and resources needed
Staffing
Staffing refers to the process of hiring and developing the required personnel to fill in various
positions in the organisation. It is that part of the management process, which is concerned with
recruitment, selection, placement, allocation, conservation, and development of human resources
Directing :Directing is that component of the management process which ensures that the
members of an organisation work efficiently and effectively for achieving the desired objective.
It involves leading, influencing, instructing, guiding, and inspiring employees to perform and
achieve the predetermined objectives.
Controlling :When the plans are put into operation from directing, it becomes essential to judge
regularly whether the actual results are consistent with the planned results. It monitors the
organisational performance towards the fulfilment of organisational goals.
3. Write short notes on

a)Long range and Short range planning
b) Formal and informal planning
Ans: Formal planning :Formal planning creates detailed plans that are officially recognised. A
manager or delegated employee writes down the formal plan once it's established or agreed on.
Large, complex projects often run more smoothly with formal planning as it sets clear
expectations. Team members can refer to the written plan at any time to clarify what's expected
of them.
Informal planning :Informal planning is a more relaxed approach to planning. This type of
planning may occur during discussion sessions. It can also be a mental process undertaken by a
manager before projects start. Managers may tell employees the whole plan or only the parts
relevant to them. Employees may take notes they can refer to.
Short-range planning :Short-term planning involves making plans for the immediate future.
Short-term planning usually focuses on plans for the next two years or less. These plans involve
using the business's existing resources to impact its current operations.
Long-range planning :Long-term planning involves making plans for the business's long-term
future. Businesses usually make long-term plans for five to 15 years in the future. Long-term
resource allocation and strategies for technological and market advantage are common
considerations for long-term planning.
4.What is Decision-making and its importance?

Ans: Decision-making can be defined as the process of selecting a right and effective course of
action from two or more alternatives for the purpose of achieving a desired result. Decision-
making is the essence of management.
IMPORTANCE
1.Better Utilisation of Resources:Decision making helps to utilise the available resources for
achieving the objectives of the organisation. The available resources are the 6 Ms, i.e. Men,
Money, Materials, Machines, Methods and Markets. The manager has to make correct decisions
for all the 6 Ms. This will result in better utilisation of these resources
2.Facing Problems and Challenges:Decision making helps the organisation to face and tackle
new problems and challenges. Quick and correct decisions help to solve problems and to accept
new challenges.
3. Business :GrowthQuick and correct decision making results in better utilisation of the
resources. It helps the organisation to face new problems and challenges. It also helps to achieve
its objectives. All this results in quick business growth. However, wrong, slow or no decisions
can result in losses and industrial sickness.
4. Achieving Objectives:Rational decisions help the organisation to achieve all its objectives
quickly. This is because rational decisions are made after analysing and evaluating all the
alternatives.
5. Increases Efficiency:Rational decisions help to increase efficiency. Efficiency is the relation

between returns and cost. If the returns are high and the cost is low, then there is efficiency and
vice versa. Rational decisions result in higher returns at low cost.
6. Facilitate Innovation:Rational decisions facilitate innovation. This is because it helps to

develop new ideas, new products, new process, etc. This results in innovation. Innovation gives a
competitive advantage to the organisation.
7. Motivates Employees:Rational decision results in motivation for the employees. This is

because the employees are motivated to implement rational decisions. When the rational
decisions are implemented the organisation makes high profits. Therefore, it can give financial
and non-financial benefits to the employees.

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1.

1MANAGEMENT THEORY AND PRACTICE

1. What is Management? Levels of management?

2. Explain about Functions of Management?

Organising :Organising is the management function of allotting duties, grouping various

3. Write short notes on

4.What is Decision-making and its importance?

5. Increases Efficiency:Rational decisions help to increase efficiency. Efficiency is the relation

6. Facilitate Innovation:Rational decisions facilitate innovation. This is because it helps to

7. Motivates Employees:Rational decision results in motivation for the employees. This is

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