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The Millennium University: Class Lecture of MBA Programme

This document contains summaries of two lectures on principles of management and the environmental impacts on management: 1) The first lecture defined management, its functions, goals of organizations, and characteristics of excellent companies. It also evaluated early management thinkers like Taylor and Fayol and discussed the managerial role approach. 2) The second lecture discussed the technological, ecological, and social environments that impact management. It addressed corporate social responsibility and ethics, using examples like the Bhopal plant disaster, Microsoft's monopoly, and Grameen Phone's social initiatives in Bangladesh. Environmental standards and the government's role in regulation were also examined.

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Md Whaheduzzaman
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48 views3 pages

The Millennium University: Class Lecture of MBA Programme

This document contains summaries of two lectures on principles of management and the environmental impacts on management: 1) The first lecture defined management, its functions, goals of organizations, and characteristics of excellent companies. It also evaluated early management thinkers like Taylor and Fayol and discussed the managerial role approach. 2) The second lecture discussed the technological, ecological, and social environments that impact management. It addressed corporate social responsibility and ethics, using examples like the Bhopal plant disaster, Microsoft's monopoly, and Grameen Phone's social initiatives in Bangladesh. Environmental standards and the government's role in regulation were also examined.

Uploaded by

Md Whaheduzzaman
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOC, PDF, TXT or read online on Scribd
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The Millennium University

Class Lecture of MBA Programme


POM

Lecture 1: An introduction: the concepts of Management and The


Evaluation of Management Thought

- Definition of Management: its nature, importance and purpose


- The functions of Management
- The Goals of all Managers and Organisations
- Characteristics of Excellent and Most Admired Companies
- Information Technology and Globalisation: Adopting to changes in the 21st Century
The Evaluation of Management Thought
- Fredrick Taylor and Scientific Management
- Henri Fayol, The father of Modern Management Theory
- Recent Contributors to Modern Management Thought
The Managerial Role Approach:
------------------------------------------------------------------------

Definition of Management: Management is a process of designing and maintaining


an environment in which individuals, working together in groups, efficiently accomplish
selected aims.

If we breakdown the definition what we get:

 As managers, people carryout the managerial functions of planning, organising,


staffing, leading and controlling.
 Management applies to all sorts of organisation.
 Managers are concerned with productivity, which implies effectiveness and
efficiency.

Example of some successful managers:

Define Organisation: We define organisation as a group of people working together to


create a surplus. In Business organisations, this surplus is profit. In nonprofits organisations,
such as charitable organisations, it may be satisfaction of need. Universities also create a
surplus through generation and dissemination of knowledge.

The Functions of Management:

Five Managerial functions: Planning, organising. Staffing, leading and controlling.


Mangers must have the knowledge of external environment-Economic, technological, social,
ecological, political and ethical factors.
Managerial Functions at different organisational level: Top level manager
spend more time on planning and organising. Mid-level or lower-level
Manager involving in leading and controlling.
The Goals of Managers and Organisations:

Profitability and surplus


Shareholder value measured by stock price.
Achieve goal with available resources

Characteristics of Excellent and most admired companies:

In the US, profitability is an important measure of company excellence. Other criteria are
also considered. Thomas Peters and Robert Waterman (In Search of Excellence) identified 43
companies that they regarded as excellent. The criteria they have chosen such as: Growth of
assets and equity, average return on total capital.

1
According to authors there are eight characteristics of excellent enterprises:

1. were oriented towards action


2. learned about the needs of their customers
3. Promoted managerial autonomy.
4. achieved productivity by paying close attention to the needs of their people
5. were driven by a company philosophy often based on the values of their leaders
6. focused on the business they knew best
7. had a simple organisation structure with a lean staff
8. were centralised as well as decentralised, depending on appropriateness.

See page: 9 of the text book

Information technology and Globalisation ( Group discussion)

Productivity, Effectiveness and efficiency

Outputs
Productivity=............. (Within a time period quality considered)
Inputs
The formula indicates that productivity can be improved by (1) increasing outputs with the
same inputs, (2) decreasing inputs but maintaining the same outputs or (3)Increasing outputs
and decreasing inputs to change the ratio favourably. Companies use several kinds of inputs,
such as labour, materials, and capital.

Effectiveness and efficiency: Effectiveness is the achievement of Objectives. Efficiency is


the achievement of the ends with the least amount of resources.

The Evaluation of Management thought: See Page 12-19(Management: Harold


Koonz and Heinz Weihrich

The managerial Role approach: See Page (20-26)

The Functions of Manager:

Planning: Involves selective missions and objectives as well as the actions to achieve them.
It requires decision making
Organising: Every body has the different role but goals may be one. Designing an effective
organisation structure is not an easy managerial task. Defining the job and finding the people.
Staffing: Staffing involves filling and keeping filled, the positions in the organisation
structure .Recruiting and selection, placing and transfer.
Leading: is influencing people. This involves motivation, leadership style and approaches,
and communication.
Controlling: It involves measuring performance against goals and plans.

2
The Millennium University
Class Lecture of MBA Programme
pom
Session 2: Environmental Impact on Management

- The Technological Environment


- The Ecological Environment – The Bhopal Plant in India and Union Carbide
The Corporate and social responsibility of Mangers
- Arguments For and against Business involvement in Social Actions
- Reaction or Pro-action?
- The role of the Government
- Social Responsibility Of Grameen Phone
- Bill Gates and Microsoft A Monopoly?
- Ethics in Managing and Ethical theories

Pluralistic Society: A society where many organised Groups represents various interests.
(Environmental groups, Chamber of commerce.) Conflict and agreement is inevitable among
groups.

The Technological Environment: It includes inventions, knowledge and techniques.

The Ecological Environment: The relationship of people and other living things with their
environment, such as soil, water, and air. Land may be polluted by Industrial waste such as
packaging. Water pollution may be caused, for example, by hazardous waste and sewage. Air
pollution caused by- acid rain.
Legislation
The role of the manager

The Bhopal Plant in India and Union Carbide: See p.41

ISO 14001 Standards: Developed by European Countries. ISO 14001 standard to assure that
company policies address a variety of public concerns, including pollution prevention and
relevant laws and regulations. General Motors, IBM , Megna Group are using this standards.

The Social Responsibilities of Managers: Economic responsibility, Social responsibility-


regards to government, NGOs, charitable organisations and even mosques.

Corporate Social Responsibility: The serious consideration of the impact of the company’s
actions on society.

Social Responsiveness: The ability of a corporation to relate its operations and policies to the
social environments in ways that is mutually beneficial to the company and to the society.

Argument For and Against Business Involvement in Social Actions: See Table2.1

The Role of the Government: Legislation, Government policy and regulations.

Bill Gates and Microsoft A monopoly (Home Work)

Ethics in Managing: The discipline dealing with what is good and what is bad and with moral
duty and obligation. It is concerned with truth and justice. Fair completion, advertising, public
relations, social responsibility, consumer autonomy, and corporate behaviour are the example of.

Ethical Theories: see p.47 (please read at home)

Group Discussion: Spirituality in the Workplace

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