ACRONYMS
CHAPTER-1 -----------NATURE AND
SIGNIFICANCE OF MANAGEMENT
FEATURES OF MANAGEMENT
My
Charming Dad Is Giving Grand Party (MCD PIG2)
1.MultiDimensional
2.Continous
3. Dynamic
4. Intangible
5. Group Activity
6. group Goals
7.Pervasive
IMPORTANCE OF MANAGEMENT
GDP depends upon Efficient Society
1. Achieving
Group Goals
2. Dynamic
Organisation
3. Achieving
Personal Objectives
4. Increases
efficiency
5. Helps
in Development of Society
MANAGEMENT AS AN ART
CAT
1. Based on practice and Creativity
2. Personalised Application
3. Existence of Theoretical knowledge
MANAGEMENT
AS SCIENCE-------------USP
1.
Universal validity
2.
Systematic Body of knowledge
3.
Principles based on
Experimentation
NATURE
OF COORDINATION--------------Police Controls DRUG
1. Pervasive Function
2. Continuous Process
3. Deliberate Function
4. Responsibility of All
Managers
5. Unity of Action
6. Integrates Group Efforts
IMPORTANCE
OF COORDINATION
Coordination
is needed when organization grows in
size, has specialization and
includes functional Diffferentiation.
CHAPTER-2-----PRINCIPLES OF
MANAGEMENT
FAYOL’S PRINCIPLES
OF MANAGEMENT
DAD U C
USSR? O I SEE
1 DIVISION OF
WORK
2. AUTHORITY AND
RESPONSIBILITY
3.DISCIPLINE
4. UNITY OF
COMMAND
5. CENTRALISATION
AND DECENTRALISATION
6. UNITY OF
DIRECTION
7. SUBORDINATION
OF INDIVIDUAL INTEREST TO GENERAL INTEREST
8. SCALAR CHAIN
9. REMUNERATION
OF EMPLOYEES
10. ORDER
11. INITIATIVE
12. STABILITYOF TENURE OF PERSONNEL
13. EQUITY
14. ESPIRIT DE CORPSE
PRINCIPLES OF SCIENTIFIC MANAGEMENT
SCIENCE leads to DEVELOPMENT by
HARMONY and COOPERATION.
1. Science,
not rule of Thumb
2. Development
of each person to his or her greatest Effeciency
3. Harmony
not Discord
4. Cooperation,
not individualism
TAYLOR’S TECHNQUES OF SCIENTIFIC
MANAGEMENT
My Sweet Simple Mother and Father Taught Taylor’s Different
Functions
1. Motion
Study
2. Standardization
and Simplification
3. Method
Study
4. Fatigue
Study
5. Time
Study
6. Differential
Piece Wage System
7. Functional
foremanship
CHAPTER-3-----BUSINESS ENVIRONMENT
Features of Business Environment
Disturb C
D – Dynamic
I – Interrelated
S – Specific and general forces
T – Totality of External forces
U – Uncertainity
R – Relativity
B –
C – Complex
Dimensions of Business Environment
S – Social
T – Technological
E – Economic
P – Political
L – Legal
CHAPTER-4------PLANNING
Process of Planning
SP-ICS-F
S – Setting Objectives
P – developing Premises
I – Identify alternate course of action
C – Evaluating alternative courses
S – Selecting an alternative
D – Formulation of derivative plans
I – Implementation of plan
F – Follow up action
Features of Planning
DCP of MP
D – decision Making
C – Continuous Process
P – Pervasive
O – Objective achievement
F – Futuristic
M – Mental Exercise
P – Primary Function
Importance – DRSODI
D – it provides direction
R – Reduce the risk of uncertainity
S – Establishes standard of controlling
O – Reduces overlapping
D – Decision Making
I – Promotes Innovative Ideas
Limitations
NCR DTC
N – No guarantee of success
C – Involves huge cost
R – It creates rigidity
D – Does not work in dynamic environment
T – Time consuming Process
C – Reduces Creativity
CHAPTER-5----ORGANISING
PROCESS OF
ORGANISING
PROCESS OF ORGANISING IDEA
1
Identification and division of work
2
Departmentisation
3
Assigning of duties
4
Establishing reporting relationships
Importance
of organizing BADO-CAG
1
Benefits of specialization
2
Clarity in working relationships
3
Optimum utilization of resources
4
Adaptation to changes
5
Development of personnel
6
Expansion and growth
Delegation
–AAR
AUTHORITY
RESPONSIBILITY
ACCOUNTABILITY
CHAPTER-6----Staffing
Staffing
process- MR SPOTPPC
1
ESTIMATING MANPOWER REQUIREMENTS
2
Recruitment
3
Selection
4
Placement and orientation
5
Training and development
6
Performance appraisal
7
Promotion and career planning
8
Compensation
Training
methods- APP.IVI
1
Induction training
2
Vestibule training
3
Apprenticeship training
4
Internship training
COMPONENTS
OF STAFFING- TSR
1
RECRUITMENT
2
SELECTION
3
TRAINING
INTERNAL SOURCES- PT
1
TRANSFER
2
PROMOTION
IMPORTANCE
OF STAFFING- JCT-SHO
1
Ensures availability of competent personnel
2
Higher performance
3
Ensures continuous survival and growth
4
Ensures optimum utilization of human resources
5
Improves job satisfaction and morale
6
Advancement of technology
CHAPTER-7----Directing
Features
of Directing: (CIFT)
i) Initiate’s action:
(ii) Takes place at every level
of management:
(iii) Continuous process:
(iv) Flows from top to bottom:
Importance of Directing :( SAIIF)
1. Achieving Goal
2. Integrate employees efforts
3. Fuller utilization of employees
capabilities
4. Introducing changes
5. Stability in organization
Supervision
Importance of Supervision (AADHIE)
1. Act as friend, philosopher and guide
2. Avoid misunderstanding and conflict among
worker and management
3. Harmony among workers
4. Efficient team of workers
5. Increase morale of workers
6. Develop work skill
Motivation
Features of Motivation (IPCC)
1. Internal feeling
2. Produces goal directed behavior
3. Can be either positive or negative
4. Complex process.
Motivation Process(U Tension Doge Sabko Sath Rulaaonga)
1. Unsatisfied need
2. Tension
3. Drive
4. Search behavior
5. Satisfied need
6. Reduction of Tension
Motivation Importance(N RR II)
1. Improves performance level of employee
2. Negative attitude to positive attitude
3. Reduce employee turnover
4. Reduce abseentism
5. Introducing change smoothly
Maslow’s Need Hierarchy Theory of
motivation (PEASS)
1. Basic Physiological need
2. Safety and security need
3. Affiliation and belongingness need
4. Esteem need
5. Self actualization need
Techniques of motivation:
A. Financial Incentives(Please 4ward, BRS)
1. Pay and allowances
2. Perquisites
3. Productivity linked wage incentives
4. Profit Sharing
5. Bonus
6. Retirement benefit
7. Stock option and co partnership
B. Non-Financial Incentives(JJOCEE-SE)
1. Status
2. Organization Climate
3. Career advancement opportunities
4. Job enrichment
5. Job security
6. Employee recognition programme
7. Employee participation
8. Employee empowerment.
Leadership
Features of leadership(ABC-IE)
1. Ability to influence other
2. Bring change in behavior of other
3. Interpersonal relations between leader
and follower
4. Exercise for common goal
5. Continuous process.
Importance of Leadership(PCMB-I)
1. Produces good results
2. Creates congenial work environment
3. Introduction of change with minimum
discontentment
4. Maintain harmonious relations
5. Build up successor and help in smooth
succession process
Qualities of good leader(PCM-CSD-KII)
1. Physical Features
2. Knowledge
3. Integrity
4. Initiative
5. Communication Skill
6. Motivation skill
7. Self Confidence
8. Decisiveness
9. Social skill
Communication
Importance
of Communication(CDS-ME-BP)
1. Act as a basis of coordination
2. Act as a basis of Decision making
3. Help in Smooth
working of an enterprise
4. Increase Managerial efficiency
5. Promotes cooperation and peace
6. Establish effective leadership
7. Boost morale and provide motivation
Barriers to communication process
A. Semantic barriers(BSF-TUB)
1. Badly expressed message
2. Symbols with different meaning
3. Faulty translation
4. Unclarified assumption
5. Technical jargon
6. Body language and gesture decoding
B. Psychological Barriers(PLLD)
1. Premature evaluation
2. Lack of attention
3. Loss by transmission and poor
retention
4. Distrust
C. Organisational barriers(RS-PCC)
1. Policy
2. Rules and regulations
3. Status
4. Complexities in structures
5. Communication facilities
D. Personal Barriers(FLUU)
1. Fear of challenge to authority
2. Lack of confidence on subordinates
3. Lack of incentives
4. Unwillingness to communicate
Measures to improve communications (BCCI FACT)
1. Clarity of message
2. Communicate according to the need of
receiver
3. Consult other to develop plan for
communication.
4. Beware of language, content and tone.
5. Communicate thing of value to others
6. Ensure proper feedback
7. Connect present with future
8. Follow up communication
9. Be a good listener
Chapter 8. Controlling
A. Steps in controlling process(Some Measurable CAT)
1. Setting up objectives
2. Measurement of actual performance
3. Comparison with standard performance
4. Analysis of deviation
5. Taking corrective action
B. Importance of controlling(First-I-EAT-Jam)
1. Accomplishing
organization goal
2. Judging
accuracy of standard
3. Efficient
use of resources
4. Improves
employee motivation
5. Ensure
order and discipline
6. Facilitate
coordination in action
C. Limitation of controlling(RLD)
1. Difficulty in setting quantitative standard
2. Little control on external factors
3. Resistance from employee
CHAPTER-9
AND 10 ---Financial Management & Financial Market
1.
Decisions - FDI
2.
Trading Procedure - SOPES
I.
Selection of broker
II.
Opening Demat A/c
III.
Placing the order
IV.
Executing the order
V.
Settlement
3.
Methods of Floatation - POORE/RO2PE
I.
Private Placement
II.
Offer through Prospectus
III.
Offer for sale
IV.
Right Issue
V.
E-IPOs
4.
Factors Affecting Capital Structure DISC4
i.
Debt - Service
coverage ratio
ii.
Interest coverage ratio
iii.
Stock Market condition
iv.
Cost of equity
v.
Cost of Debt
vi.
Cash flow position
vii.
Control Consideration
CHAPTER
-11 : MARKETING MANAGEMENT
1.
Features
of Marketing
NCCE
(i)
Needs and Wants
(ii)
Creating a Market offering
(iii)
Customer Value
(iv)
Exchange Mechanism
2.
Marketing
Management – Philosophies
SPP-MT
(i)
Production concept
(ii)
Product Concept
(iii)
Selling concept
(iv)
Marketing Concept
(v)
The Social Marketing concept
3.
Elements
of Marketing Mix
4Ps
(i)
Product
(ii)
Price
(iii)
Place
(iv)
Promotion
4.
Characteristics
of a Good Brand Name
SSD AVC
(i)
Short and Simple
(ii)
Suggests the products and Qualities
(iii)
Distinctive
(iv)
Adaptable to packing or labeling
(v)
Versatile to accommodate new products
(vi)
Capable of being registered
CHAPTER-12----CONSUMER
PROTECTION
1.
Consumer
rights
RICH-SE
(i)
Right
to Safety
(ii)
Right
to be Informed
(iii)
Right
to Choose
(iv)
Right
to be Heard
(v)
Right
to Seek Redressal
(vi)
Right
to Consumer Education
2.
Consumer
Responsibilities
Honest CBSE: Fair SRCC
(i)
Be aware about various goods and services
(ii)
Buy
only Standardized goods
(iii)
Learn
about risk Associated
(iv)
Cautious consumers
(v)
Assert
yourself to ensure to get a Fair
deal
(vi)
Be
Honest in dealings
(vii)
Ask
for Cash Memo
(viii)
Ready
to file a Complaint
(ix)
Form
consumer Societies
(x)
Respect
the Environment
3. Role of Consumer Organizations and
NGOs
PEELI-CC
(i)
Educating the consumers
(ii)
Publishing periodical and other publications
(iii)
Carrying and comparative testing of consumer products
(iv)
Encouraging consumer to protest
(v)
Provide
Legal assistance
(vi)
Filling
Complaints
(vii)
Taking
an Initiative in filing of case.