Management: Concept, Practice and Cases

Cover
Contents
SECTION A: INTRODUCTION TO BUSINESS
	CHAPTER 1 Business and Forms of Business Ownership
		Introduction
		Scope of Business
		Activities Excluded from Business
		Purpose of Business
		Characteristics of Business
		Characteristics of an Excellent Business Organisation
		Forms of Business Ownership
		Sole Proprietorship 9; Joint Hindu Family Business 11; Partnership 11; Joint Stock Company 13; Cooperative Societies 25; Government Business Entities
		Points to Remember
		Review/Discussion Questions
		Field Exercises/Class Exercises/Group Projects
		On the Internet
		References
		Case Study
	CHAPTER 2 Management of Business Environment
		Introduction
		Characteristics of Business Environment
		Classifi cation of Business Environment
		Internal Environment
		Classifi cation of External Environment
		Micro Environment 37; Macro Environment
		Constituents of Macro Environment
		Global Business Environment 37; Socio-Cultural Environment 38; Technological Environment 39; Economic Environment 41; Political Environment 44; Demographic Environment 45; Legal Environment 45; Environmental Concerns
		How to Manage Business Environment
		Points to Remember
		Review/Discussion Questions
		Field Exercises/Class Exercises/Group Projects
		On the Internet
		References
		Case Study
	CHAPTER 3 Corporate Social Responsibility
		Introduction
		Defi nition
		Constituents of Corporate Social Responsibility Planning
		Different Approaches Towards Corporate Social Responsibility
		Evolution of the Concept of Social Responsibility of Business
		Need for Corporate Social Responsibility
		Arguments for and Against the Social Involvement of Business
		Arguments for Social Involvement of Business 60; Arguments Against Social Involvement of Business
		Responsibility of Business Towards Different Interest Groups
		Tools and Strategies for Meeting the CSR Challenge
		Corporate Governance 67; Accreditations and Certifi cations 69; Social Audit 69; Trust Building Measures 70; Complete Product Life Cycle Management 70; Clean Development Mechanism and Carbon Credits
		Example of CSR Endeavour
		Toyota Motor Europe (TME)
		Points to Remember
		Review/Discussion Questions
		Field Exercises/Class Exercises/Group Projects
		On the Internet
		References
		Case Study
	CHAPTER 4 Managerial Ethics
		Introduction
		Ethics—Defi nition
		Classifi cation of Ethics
		Normative Ethics 81; Descriptive Ethics
		Managerial Ethics
		Factors Affecting Application of Managerial Ethics
		Need and Importance of Business Ethics
		Institutionalising Ethics
		Managerial Ethics in India and the West
		Ethical Dilemma Faced by Managers
		Ethical Questions Faced by Managers of MNCs in Global Context
		How Should Organisations and Managers Respond to Ethical Issues in Global Context?
		Impact of Corporate Ethics
		Points to Remember
		Review/Discussion Questions
		Field Exercises/Class Exercises/Group Projects
		On the Internet
		References
		Case Study
SECTION B: MANAGEMENT: AN OVERVIEW
	CHAPTER 5 Management—A Conceptual Framework and Application
		Introduction
		Defi nition of Management
		Characteristics of Management
		Management Levels and Hierarchy
		Functions of Management
		Managerial Roles
		1. Interpersonal Roles 110; 2. Informational Role 111; 3. Decisional Roles
		Management as Science or Art
		Management as an Art 113; Management as a Science 114; Management Principles vs Science Principles
		Universal Applicability of Management
		Scope of Management
		Different Approaches to Management 116; Manager 117; Goals of Managers and Organisation
		Management Skills
		Managerial Skills and Organisational Hierarchy 120; Management Practices
		Manager vs Leader
		Challenges for Managers
		Management: A Critical Appraisal
		Points to Remember
		Review/Discussion Questions
		Field Exercises/Class Exercises/Group Projects
		On the Internet
		References
		Case Study
	CHAPTER 6 Evolution of Management Thought
		Introduction
		Effect of the Industrial Revolution on Management 130; 18th Century Management Literature 131; 19th Century Management Literature 131; 20th Century Management Literature 131; Major Management Theories
		Classical Theories
		Scientifi c Management 133; Functional Approach or Administrative Management 139; Bureaucratic Management 140; Limitations of Classical Schools
		Neo-Classical Theories
		Human Relations School: Behavioural Approach
		Quantitative or Management Science Approach
		Limitations of Quantitative or Management Science Approach
		Systems Theory and Contingency Approach: Integrating Different Management Theories
		Systems Theory 150; Contingency View 152; Integration of Management Processes Approach 153; Developments in Second half of 20th Century 153; Contemporary Management Viewpoints 154; McKinsey’s ‘Seven-S’ Framework 155; 21st Century Approach to Management
		Points to Remember
		Review/Discussion Questions
		Field Exercises/Class Exercises/Group Projects
		References
		Case Study
		Early Writings on Management
	CHAPTER 7 Personal Qualities of Effective Manager
		Introduction
		Practices Adopted by Effective Managers
		Practices to Become a Knowledgeable Executive 163; Practices to Convert Knowledge into Action 163; Practices to Make the Whole Organisation Feel Responsible and Accountable
		Managerial Mindsets of Effective Managers
		Minds of Future Managers
		Personal Qualities of Effective Managers
		Conclusion
		Points to Remember
		Review/Discussion Questions
		Field Exercises/Class Exercises/Group Projects
		On the Internet
		References
		Suggested Reading
		Case Study
SECTION C: FUNCTIONS OF MANAGEMENT
	CHAPTER 8 Planning
		Introduction
		Characteristics of Planning
		Importance of Planning
		Assumptions for Planning
		Essentials of Effective Planning
		Pitfalls and Limitations of Planning
		Types of Planning
		Formal Planning 181; Strategic Planning 187; Informal Planning
		Plan
		Purpose of Plan 192; Classifi cation of Plans 193; Plans Based on Time Frame 193; Plans Based on Breadth 194; Plans Based on Frequency of Use
		Planning and Control
		Why Do People Avoid Planning?
		Organisational Factors for Avoidance of Planning 197; Individual Factors for Avoidance of Planning
		Select Applications of Planning
		Role of Computer Software in Planning
		Points to Remember
		Review/Discussion Questions
		Field Exercises/Class Exercises/Group Projects
		On the Internet
		References
		Case Study
	CHAPTER 9 Decision-Making
		Introduction
		Types of Decisions
		Decision-Making
		Nature of Decision-making
		Different Approaches to Decision-making
		Authoritarian Decision-making 209; Group Decision-making 210; Which Approach is Best?
		Steps in Decision-making
		Responding to a Problem or a Situation or a Scenario 211; Search for Alternatives 211; Evaluation of Alternatives 212; Selecting Suitable Alternative from Available Options 213; Implementation, Monitoring and Feedback
		Decision-making Strategies
		How to make the Decision and Decision-making Effective
		Techniques for Effective Decision-Making
		Simple Techniques of Decision-making 217; Complex Techniques of Decision-making
		Points to be Kept in Mind While Making a Decision
		Implementing a Decision
		Decision-making: A Critical Analysis
		Goal
		Criteria of Effective Goal 226; Approaches Towards Goal-setting 229; How to Set Effective Goals? 229; Points to be Kept in Mind in Determining Goals 230; Things to be Avoided, While Setting Goals
		Objectives
		Key Points of Objectives 231; Problems Related to Objectives and Ways to Resolve Them 232; Goals Vs Objectives
		Points to Remember
		Review/Discussion Questions
		Field Exercises/Class Exercises/Group Projects
		On the Internet
		References
		Case Study
	CHAPTER 10 Organising
		Introduction
		Different Constituents of Organising
		Importance of Organising
		Organising Process
		Organisation
		Classifi cation of Organisations
		Evolution of Organisation: Different Phases of Growth
		Organisation Design and Structure
		Types of Organisation Structure
		Departmentation
		Division of Work and Specialisation
		Advantages of Division of Work 250; Disadvantages of Division of Work
		Span of Management or Span of Control
		Narrow Span of Control 251; Wide Span of Control 252; Factors Determining the Span of Control
		Organisational Relationships: Line and Staff Functions
		Line Authority 254; Staff Relationship 254; Advantages and Disadvantages of Line and Staff Functions 254; Line and Staff Confl icts 255; How to Handle Line and Staff Confl ict 256; Choosing Between Line and Staff Career
		Employee Empowerment: Centralisation vs Decentralisation
		Organisation Culture
		Importance of Organisation Culture
		Points to Remember
		Review/Discussion Questions
		Field Exercises/Class Exercises/Group Projects
		On the Internet
		References
		Case Study
	CHAPTER 11 Power and Authority
		Introduction
		Defi nition
		Types or Sources of Power
		Comparison between Personal and Position Power: A Critical Analysis
		Authority
		Types of Authority
		Empowerment: Empowering Oneself and Others
		Empowering Oneself: How to Use Power Effectively? 270; Empowering Others
		Centralisation vs Decentralisation
		Centralisation: Defi nition 275; Objectives of Centralisation 275; Advantages of Centralisation 275; Why Centralisation Fails to Deliver after Sometime? 276; Decentralisation 277; Characteristics of Decentralisation 277; Requirements for Decentralisation 278; Advantages and Disadvantages of Decentralisation 278; Right Balance between Centralisation and Decentralisation 280; Why Optimal is not Always Optimal? 281; How Much Centralisation is Right for an Organisation?
		Delegation
		Importance of Delegation 283; Levels of Delegation 283; Factors Affecting the Choice of Delegation Level 285; Consequences of Poor Delegation 286; Reasons for Failure of Delegation 286; Steps to Improve Delegation
		Points to Remember
		Review/Discussion Questions
		Field Exercises/Class Exercises/Group Projects
		References
	CHAPTER 12 Team Building: Developing People and Teams
		Introduction
		Team: Defi nition
		Difference between Group and Team 294; Ingredients of Effective Teams 295; Classifi cation of Teams 296; Impact of Team Composition on Productivity 297; Advantages of Teams 297; Disadvantages of Teams
		Team Building
		Requirements for Effective Team Building 299; Team Building Interventions 304; Stages of Team Building: How to Effectively Manage Them 305; How to Motivate Team Members to Perform to Their Potential 311; How to Manage Team Confl ict
		Managing the Termination of the Project and Demise of Team
		Closing Projects
		Points to Remember
		Review/Discussion Questions
		Field Exercises/Class Exercises/Group Projects
		On the Internet
		References
		Suggested Reading
		Case Study
	CHAPTER 13 Staffing
		Introduction
		Defi nition: Staffi ng
		Constituents of Staffi ng
		Human Resource Planning 323; Job Analysis 324; Recruitment 324; Selection 327; Induction 333; Training and Development 334; Performance Appraisal or Performance Management 337; Recognition and Reward 338; Promotion 339; Employee Retention
		Organisational Exit: Separation
		Employee Separation Methods 343; Trends Affecting Staffi ng Function in the 21st Century 343; Challenges for Staffi ng Function in 21st Century
		Points to Remember
		Review/Discussion Questions
		Field Exercises/Class Exercises/Group Projects
		On the Internet
		References
		Suggested Reading
	CHAPTER 14 Motivation: Exciting People to Perform Their Potential
		Introduction
		Advantages of Motivated Behaviour
		Motivation: A Theoretical Background
		Maslow’s Hierarchy of Needs Theory 353; Herzberg’s Motivation- Hygiene Theory 355; Alderfer’s ERG Theory 356; McGregor’s Theory X and Theory Y 356; Theory Z 358; Goal Setting Theory of Motivation 360; Skinner Reinforcement Theory 360; McClelland’s Needs Theory of Motivation 361; Vroom’s Expectancy Theory 362; Porter and Lawler’s Expectancy Model 363; Select Managerial Perspectives on Motivation 364; Issues Affecting Motivation
		Motivational Tools and Techniques for Building Commitment and Excitement
		Motivation: A Critical Analysis
		Points to Remember
		Review/Discussion Questions
		Field Exercises/Class Exercises/Group Projects
		On the Internet
		References
		Case Study
	CHAPTER 15 Leading
		Introduction
		Importance of Leadership
		Characteristics of Leadership 382; Leader versus Manager
		Theories of Leadership
		Traits Theory 386; Behavioural Theories 387; The Situational or Contingency Theories of Leadership
		Leadership Model
		Leadership Styles
		Other Styles of Leadership
		Situational Aspect of Leadership
		Principles of Corporate Leadership
		Functions of Corporate Leadership
		Forms of Business Leadership
		Transformational Leadership 402; Ethical Leadership
		Nature of Leadership in Indian Organisations
		Right Leadership Style for Indian Managers 408; Factors Affecting Business Leadership in India in 21st Century 409; Development of Leadership in an Organisation
		Leadership: A Critical Analysis
		Followership
		Why would Anyone Follow a Leader?
		Points to Remember
		Review/Discussion Questions
		Field Exercises/Class Exercises/Group Projects
		On the Internet
		References
		Case Study
	CHAPTER 16 Communicating Effectively
		Introduction
		Communication Process
		Critical Appraisal of Shannon’s Communication Process
		Derivative Models of the Communication Process
		Forms of Communication
		Different Forms of Organisational Communication
		Clarifying the Myths about Effective Communication
		Communication Barriers
		Personal Barriers 430; Organisational Barriers 431; Noise
		What Makes Communication so Diffi cult?
		How Can One Get one’s Message Across?
		How to Become a Better Listener?
		Dimensions of Effective Communication
		Context 439; Logic vis-à-vis Sentiment 439; Reality vis-à-vis Personal Reality 439; Proactive vis-à-vis Responsive or Reactive 440; Attitude and Action vis-à-vis Words 440; Dialogue vis-à-vis Debate 440; Understanding with You vis-à-vis Understanding About You 441; Approaching the Solution vis-à-vis Stating the Solution 441; Attacking the Problem, Not the Individual 441; Help vis-à-vis Unwanted Interference
		Role of Personality in Developing Communication Skills
		Problem-centric or Solution-centric Personality 442; Level of Awareness about Self 442; Transactional Analysis (TA) and Ego States 444; Life Positions 447; Stroking
		Developing Communication Formats
		Weekly Report 450; Monthly Report
		Points to Remember
		Review/Discussion Questions
		Field Exercises/Class Exercises/Group Projects
		On the Internet
		References
		Case Study
	CHAPTER 17 Conducting Meetings and Handling Conflict and Coordination: Vitalising People by Building Agreements
		Introduction
		Meeting
		Characteristics of Meeting 459; Different Types of Meetings 459; How to Make Meetings Effective 460; Preparation for Attending the Meeting 461; Typical Problems of Meetings and How to Handle Them 464; Meeting Minutes
		Confl ict
		Types of Confl ict 466; Sources of Confl ict 467; Stages of Confl ict 468; Managing Confl ict and Building Agreement 469; Successful Negotiations of Confl ict 470; Managing Confl icts at Different Stages of Project
		Coordination
		Coordination of Managerial Functions 474; Importance of Coordination 474; Techniques for Enabling Effective Coordination
		Points to Remember
		Review/Discussion Questions
		Field Exercises/Class Exercises/Group Projects
		On the Internet
		References
		Suggested Reading
	CHAPTER 18 Controlling
		Introduction
		Characteristics of Effective Control Systems
		Importance of Control
		Control Process
		Establishment of Performance Standards 482; Measurement of Performance 483; Comparing Performance with Established Standards 485; Developing a Report 485; Taking Corrective Action for Removing Signifi cant Deviations
		Types of Control
		On the Basis of Managerial Level 488; On the Basis of the Stage or Time of Implementation
		Interrelationship of Planning and Control
		Real-Time Information and Real-Time Control
		Points to Remember
		Review/Discussion Questions
		Field Exercises/Class Exercises/Group Projects
		References
		Case Study
SECTION D: INTRODUCTION TO SELECT APPROACHES AND APPLICATIONS OF MANAGEMENT
	CHAPTER 19 MBO and TQM: Systemic Approaches to Management
		Introduction
		Different Aspects of MBO
		Characteristics of MBO 508; The Systems Approach of MBO 509; Application of MBO 509; Steps in the MBO Process 509; Benefi ts of MBO 510; Limitations of MBO
		Quality
		Quality Management 513; Total Quality Management 515; TQM Process 516; Advantages of TQM 517; Disadvantages of TQM
		Quality Awards
		Points to Remember
		Review/Discussion Questions
		Field Exercises/Class Exercises/Group Projects
		On the Internet
		References
	CHAPTER 20 Managing Different Forms of Business
		Introduction
		Characteristics of a Global Organisation 526; How to Develop a Global Organisation 526; Advantages of Becoming a Global Company
		Global Managers
		Developing Global Managers
		Small Business Management
		Small-scale Business 530; Evolution of Defi nitions of Small Business in India 531; Characteristics of Small Business Management 531; Functions of Small Business Manager 532; Problems Faced by Small-scale Business
		Strategies for Small Businesses to Face Competition from MNCs
		Conclusion
		Points to Remember
		Review/Discussion Questions
		Field Exercises/Class Exercises/Group Projects
		On the Internet
		References
		Case Study
	CHAPTER 21 Creativity and Innovation in Management
		Introduction
		Creativity
		Different Forms of Creativity 540; Creativity Principles to Generate Creative Ideas 541; Idea Generation Techniques 542; Sources of Creative Ideas
		Innovation
		Principles of Innovation 542; Classifi cation of Innovation 543; Innovation and Creativity 543; Sources of Innovation 544; Myths about Innovation 544; Stages of Innovation Process 545; Guidelines for Effective Implementation of Innovation
		Challenges for Creativity in Corporate Sector
		A. Organisational Factors 549; B. Individual Factors
		How to Facilitate Creativity and Innovation
		A. Organisation-level Interventions 550; B. Team or Individual-level Interventions
		Innovation: A Critical Analysis
		Innovation in the Indian Context
		Conclusion
		Points to Remember
		Review/Discussion Questions
		Field Exercises/Class Exercises/Group Projects
		On the Internet
		References
		Suggested Reading
		Case Study
	CHAPTER 22 Change Management
		Introduction
		Types of Organisational Change 565; Factors Responsible for Organisational Change 565; Approaches towards Change 567; Factors Affecting Successful Management of Change 568; Resistance to Change
		Strategies to Reduce Resistance to Change
		Change Management
		Three States of Change Management 572; Constituents of Change Management
		Change Management Models
		Points to Remember
		Review/Discussion Questions
		Field Exercises/Class Exercises/Group Projects
		On the Internet
		References
		Suggested Reading
		Case Study
	CHAPTER 23 Technology Management
		Introduction
		Role of Technology in Business
		Technology Management
		Functions of Technology Management 584; Factors Affecting Management of Technology
		Technology Incorporation Process
		Challenges in Technology Management
		Limitations of Technology
		Suggestions for Managing Technology
		Points to Remember
		Review/Discussion Questions
		Field Exercises/Class Exercises/Group Projects
		On the Internet
		References
		Suggested Reading
		Case Study
	CHAPTER 24 Knowledge Management and Learning Organisation
		Introduction
		Data, Information, Knowledge and Wisdom
		Knowledge Management
		Evolution of Knowledge Management 595; Constituents of Knowledge Management
		Knowledge Management Approaches
		Importance of Knowledge Management 598; Objectives of Knowledge Management 600; How to Build a Knowledge Management System 600; Process of Implementing Knowledge Management in an Organisation
		Instituting Knowledge Management
		Application of Knowledge Management 602; Knowledge Worker Productivity 603; Role of IT in Knowledge Management 603; How to Make Knowledge Management Effective
		Challenges of Knowledge Management and Reasons for its Failure
		Measures of Effectiveness of Knowledge Management System
		Individual Learning
		Organisational Learning
		Need for Organisational Learning 606; Methods to Institute Organisational Learning
		Learning Organisation
		Characteristics of a Learning Organisation 607; Creating a Learning Organisation 608; Advantages of being a Learning Organisation
		Issues and Challenges in Creating a Learning Organisation
		Learning Culture
		Points to Remember
		Review/Discussion Questions
		Field Exercises/Class Exercises/Group Projects
		On the Internet
		References
		Suggested Reading
		Case Study
	CHAPTER 25 National Cultures and Management Practices—Comparative Analysis of American, Japanese, Chinese and Indian Management
		Introduction
		National Culture and Management Practice
		American Management Practices
		Limitations of American Management
		Japanese Management Practices
		Limitations of Japanese Management
		Chinese Management Practices
		Management Practices in India
		Limitations of Indian Management Practices
		Conclusion
		Points to Remember
		Review/Discussion Questions
		Field Exercises/Class Exercises/Group Projects
		On the Internet
		References
		Case Study
		Index