o Concept: Determining objec ves and outlining the ac ons  Democra c: Involves team input, e.g., brainstorming 1.

s team input, e.g., brainstorming 1. Classical Management Theory: Focuses on efficiency, hierarchy, and task
Unit 1: Introduc on to Management required to achieve them. sessions. specializa on.
o Types:  Laissez-faire: Minimal supervision, suitable for experienced o Scien fic Management (Frederick Taylor): Emphasizes task
teams. op miza on through me studies and standardiza on. Example:
Defini on and Significance of Management to Business:  Strategic Planning: Long-term goals, e.g., expanding into
Assembly lines in automo ve factories.
new markets.  Transforma onal: Inspires innova on and change, e.g., Elon
 Defini on: Management is the process of planning, organizing, leading, Musk leading Tesla. o Administra ve Principles (Henri Fayol): Developed principles like
and controlling resources to achieve organiza onal goals efficiently and  Tac cal Planning: Medium-term goals, e.g., launching a new
division of work and unity of command. Example: Clear repor ng
effec vely. product line.  Transac onal: Focuses on rou ne tasks and rewards, e.g.,
structures in organiza ons.
sales teams with commission incen ves.
 Significance to Business:  Opera onal Planning: Short-term goals, e.g., se ng weekly
2. Behavioral Management Theory: Emphasizes human behavior,
sales targets. o Theories:
o Ensures op mal use of resources by avoiding wastage and mo va on, and group dynamics.
maximizing produc vity.  Con ngency Planning: Backup plans for unexpected events,  Trait Theory: Leadership traits like confidence and
o Elton Mayo (Hawthorne Studies): Demonstrated the importance
e.g., crisis management during supply chain disrup ons. communica on.
o Facilitates the achievement of business goals through coordina on of employee well-being and social factors. Example: Improved
and direc on. 2. Organizing:  Behavioral Theory: Effec ve behaviors, such as suppor ve ligh ng condi ons boos ng worker produc vity.
leadership.
o Enhances decision-making by providing a structured approach. o Structure and Design: Framework of roles, responsibili es, and 3. Quan ta ve Management Theory: Uses mathema cal models for
rela onships within an organiza on.  Con ngency Theory: Leadership style depends on the decision-making. Example: Inventory management using the Economic
o Helps businesses adapt to changes in the environment, such as situa on.
o Types of Structures: Order Quan ty (EOQ) model.
technological advancements and market dynamics.
4. Controlling: 4. Systems Theory: Views organiza ons as interconnected systems
o Builds a founda on for growth and innova on.  Func onal: Dividing tasks by func on, e.g., marke ng,
finance. o Processes: Se ng standards, measuring performance, comparing interac ng with the environment. Example: A hospital coordina ng
Management as a Science, Art, and Profession: with standards, and taking correc ve ac ons. between departments like emergency, surgery, and billing.
 Divisional: Organizing by product line, e.g., a car
 Science: Management uses systema c knowledge, research, and manufacturer having divisions for sedans and SUVs. o Techniques: Budgetary control (e.g., tracking expenses against a 5. Con ngency Management Thought: Suggests management prac ces
principles to solve problems and achieve goals. For example, scien fic budget), performance appraisals, financial audits, balanced depend on situa onal factors. Example: Different leadership styles for a
management principles by Frederick Taylor focus on me studies and  Matrix: Combining func onal and project-based structures, startup versus a large corpora on.
scorecards, and key performance indicators (KPIs).
task op miza on. e.g., employees repor ng to both project managers and
department heads. 6. Total Quality Management (TQM): Focuses on con nuous improvement,
 Art: Management involves crea vity and personal skills, such as customer sa sfac on, and quality control. Example: Toyota's emphasis
 Flat: Few hierarchical levels, promo ng faster decision- Unit 2: Evolu on of Management Thought
leadership, communica on, and problem-solving. For instance, a on kaizen (con nuous improvement).
manager inspiring their team to achieve challenging goals reflects making.
7. Modern and Transforma onal Management Thoughts:
management as an art.  Network: Collabora ons between different organiza ons, Industrial Revolu on:
such as outsourcing certain func ons. o HRM (Human Resource Management): Treats employees as
 Profession: Management has specialized knowledge, formal educa on,  The industrial revolu on introduced large-scale produc on and complex
valuable assets. Example: Google’s focus on employee
ethical standards, and a commitment to service. For example, MBA 3. Leading: organiza ons, crea ng a need for systema c management prac ces. For
engagement.
programs train individuals in advanced management techniques, making example, tex le factories required division of labor and efficient
o Styles: Transforma onal Leadership: Inspires innova on and change.
it a profession. workflows. o

 Autocra c: Manager makes decisions alone, e.g., in high-risk Example: Steve Jobs leading Apple’s innova on culture.
Management Func ons: Schools of Management Thought:
situa ons.
1. Planning:

o Innova on and Entrepreneurship: Encourages crea ve solu ons. 2. Corporate Governance: Framework ensuring accountability and
Example: Startups leveraging technology to solve problems. transparency. Example: Boards of directors monitoring company ac ons.
o Sustainability Thought: Integrates environmental and social 3. Global Ci zenship: Emphasizing ethical prac ces on a global scale.
considera ons. Example: Patagonia’s commitment to eco-friendly Example: Unilever’s sustainable sourcing ini a ves.
prac ces.
Contemporary Trends in Management:
Thinkers and Social Scien sts:
1. Current Trends: Agile management, employee well-being ini a ves, and
 Frederick Taylor: Scien fic Management. digital innova on.
 Henri Fayol: Administra ve Principles. 2. Management by Objec ves (MBO): Aligning individual and
organiza onal goals. Example: A sales team se ng targets aligned with
 Max Weber: Bureaucra c management.
company revenue goals.
 Elton Mayo: Human rela ons and behavioral studies.
3. Industry 4.0: Integra on of digital technologies like IoT and AI. Example:
 Edward Deming: Quality control and TQM. Smart factories using robo cs and data analy cs.
 Mark Parker Colle and Others: Contribu ons to modern management 4. Digital Transforma on: Leveraging technology for improved business
prac ces. processes. Example: Banks adop ng mobile apps for customer
transac ons.

Unit 3: Strategic Management Thought 5. Remote and Hybrid Work Models: Flexible work arrangements.
Example: Tech companies enabling employees to work remotely.
Key Concepts:
6. Customer-Centric Approaches: Priori zing customer needs. Example:
1. SWOT Analysis: A strategic tool to evaluate strengths, weaknesses, Amazon’s focus on customer sa sfac on through fast delivery.
opportuni es, and threats. Example: A company iden fying its strong
brand (strength) and emerging compe tors (threat). 7. Globaliza on and Localiza on: Balancing global reach with local
customiza on. Example: McDonald’s offering region-specific menus in
2. Compe ve Advantage: Crea ng unique value compe tors cannot different countries.
easily replicate. Example: Apple’s design and user experience.
3. Business Ecosystem: A network of organiza ons interac ng to create
value. Example: Amazon’s ecosystem including sellers, buyers, and
logis cs partners.
4. Business Terms and Jargons: Common terminology like ROI (Return on
Investment), KPI (Key Performance Indicator), and value chain.
Ethics in Management:
1. Corporate Social Responsibility (CSR): Businesses’ responsibility to
contribute posi vely to society. Example: TOMS Shoes dona ng a pair of
shoes for every pair sold.