Page 25 - DCOM102_DMGT101_PRINCIPLES_AND_PRACTICES_OF_MANAGEMENT

Unit 1: Introduction to Management

(c) Comparing actual performance against the standard and Notes
(d) Taking corrective actions to ensure goal accomplishment.
Successful management involves active participation by managers in the above basic managerial
functions. These functions are interrelated and most managers use a combination of the all of
them simultaneously to solve the problems facing their companies.

Caselet Managing a Supermarket Chain

r. Vincent, the Manager of a large supermarket, was taking a management
course in the evening programme at the local college. The Professor had given
Man interesting but disturbing lecture the previous night on the various
approaches to management. Vincent had always thought that management involved just
planning, organising and controlling. Now this Professor was saying that management
could also be thought of as quantitative models, systems theory and analysis, and even
something called contingency relationships. Vincent had always considered himself a
good manager, and his record with the supermarket chain had proved it. He thought of
himself, “I have never used operations research models, thought of my store as an open
system, or developed or utilised any contingency relationship. By doing a little planning
ahead, organising the store, and making some things got done, I have been a successful
manager. That other stuff just does not make sense. All the professor was trying to do was
complicate things. I guess I will have to know it for the test, but I am sticking with my old
plan, organise and control approach to managing my store.”

Source: Dr. Parag Diwan, Management Principles and Practices, Excel Books
1.11 Summary

It is very important to understand the systems framework in which an organisation
operates.
It is very useful concept for the understanding of business operations by identifying the
critical sub-systems, their inter-linkages and inter-dependence for the achievement of
common objectives.

Management is the main aspect of working involved in a system & its involvement as art,
science, profession leads an effective role.
Management occupies such an important place in the modern world that the welfare of the
people and the destiny of the country are very much influenced by it.
Managers play a very significant role in the business world.
They usually do not directly perform any of the workflow activities, but coordinate,
motivate and control the operations of employees while meeting the day-to-day challenges.
To deliver results, they work for painfully long hours, sift through bundles of data, handle
endless meetings, talk to people at various levels, plan proactively, meet the problems
head-on and get ahead of others using their knowledge, skills and experience to good
effect.
The various roles played by them in this regard are broadly grouped into three categories:
inter-personal roles, informational roles and decisional roles.

LOVELY PROFESSIONAL UNIVERSITY 17