Skip to main content

Posts

Importance of planning

Planning help an organization to setup a process, develop strategies to achieve its goal. In the management world planning helps to keep focus on the project's development and increase productivity.  The main importance/significance of planning is listed as follows: 1) Planning facilitates Decision making : - Decision making means the process of taking decision. Under it, a variety of alternatives are discovered and the best alternative is chosen. But it is important to determine the objectives before the discovery of alternatives. Objectives are determined under the process of planning. So. it can be said that planning facilitates decision making. 2) Planning helps in Increase efficiency : - Planning makes optimum utilization of all available resources. It helps to reduce wastage of important resources and avoids their duplication. It aims to give highest returns at the lowest possible cost. Planning thus increases the overall efficiency. 3)
Recent posts

Feature / Nature/ Characteristics Of Planning

Definition of Planning: According to  koontz and O ’ donnell ,” Planning is deciding in advance what to do, how to do it, when to do it, and who is to do it.” Feature / Nature/ Characteristics Of Planning 1) Planning contributes to objectives : - Planning always starts with the determination of objectives. We cannot think of planning in absence of objective. After setting up an objective, planning decide the methods, procedure and steps to achieve those objectives. For an example if an organization has the objective of manufacturing 1500 washing machine in a month, then organization need to plan their activities according to the objective, to achieve their target in desired month. 2) Planning is primary function of management : - The primary or first function of every individual organization is to do planning. No other function can be executed by the organization without performing planning. Because the basic function of planning is to set up an objective, and ot

What is Planning?

Planning can be defined as “planning bridges the gap between where we are standing today and where we want to reach ”. It involves setting objectives and deciding in advance the appropriate course of action to achieve these objectives. The most important ingredient of planning is time . Plans are always developed for the fixed time period as no business can go on planning endlessly. The Process of planning is:- 1. Identifies the goals or objectives to be achieved, 2. Formulates strategies to achieve them, 3. Arranges or creates the means required, 4. Implements, directs, and monitors all steps in their proper sequence.                                                                                                                                                                                  Credits:-NCERT Delhi

Henri Fayol and Frederick Taylor

Credits:- NCERT Delhi,

Taylor’s Scientific Management

A t the time of Industrial Revolution the factory owners or manager don’t know how to measure performance of the individual. But F.W. Taylor emerged as the “Father of Scientific Management”. Scientific management means getting work done in the best and the cheapest way. He broke up human activity into small parts and find out how it could be done effectively. By applying scientific management of production in “The Bethlehem Steel Company” Taylor increased productivity by three fourth percent.  Principles of Scientific Management 1) Science, not Rule of Thumb Rule of thumb was the technique of pre-scientific management era. Taylor found out that there were no scientific standards to measure performance. No one knew exactly how much work a worker should do in one hour or in one day. The work was fixed assuming rule of thumb or the amount of work done by an average worker. F.W. Taylor introduced Time and Motion Studies to fix performance standard

Henri Fayol Theory

Division of Work: - Work should be divided into small task/jobs. A trained specialist who is competent is required to perform each job. Thus division of work leads to specialization. This increase the effectiveness and efficiency in the work performance. Collectively they achieve the targets of the company. For example in a hospital neurosurgeon is concerned with nervous system whereas heart surgeon is concerned with respiratory system. Authority and Responsibility: - Great power comes with great responsibility. There should be balanced between authority and responsibility. An organization should build safe grad against misuse of managerial power and irresponsibility during the work. Discipline: - Discipline is systematic instruction in the organization for proper working. According to the Henri Fayol discipline requires good superior at all level, clear and judicious applicable of penalties. Suppose management and executive entered in the agreement where managem

Level and Function of Management

T he term “ L evel o f M anagement” differentiates different managerial position in an organization. When the organization grows in size the level of the management also increase. The level of management determines the chain of authority and responsibility. The level of management can be classified in three levels. Top Management / Administrative level Middle Management / Executive Operational Management / Operative / Supervisory  I. Top level Management: - They consist of the senior most executive of the organization. Their basic task is to integrate diverse element, coordinate the activities of different departments and farming policies of the business. These top level managers are responsible for the welfare and survival of the organization. Their job is complex, stressful, demanding long hours and commitment to the organization. Following are the main roles performed by top level management :- They determine objective of the business enterprise