Management And Entrepreneurship VTU Notes
Management
Management And Entrepreneurship VTU Notes
Definition:
- Art of getting things done from people.
- The process which consists of directing, organizing, controlling to determine and accomplish resource and use of people.
Importance of management
- Goal oriented.
- Universal.
- Productivity.
- Multidisciplinary.
- Integrative force.
Functions of management
- Planning
- Organising
- Directing
- Controlling
Roles of manager
Interpersonal Role
- Figurehead- Manager has to attend public functions, he should attend the wedding functions of his co-workers.
- Leader- Every manager needs to encourage his employees to achieve his company goal.
- Liaison- Manager should collect the external contacts, vertical command to collect the information which is helpful for his organization.
Informational Role
- Monitor- He should scan out external society response about his organization.
- Disseminator
- Spokesman- He should represent his organization before various outside groups which help for company growth like government officials, labor unions, financial institutions.
Decisional Role
- Entrepreneur- Manager should look for innovations in his organization to improve products, creating new products or service.
- Disturbance handler- He should be very active in finding out the solution to any problem.
Levels of Management
- First-line management- foreman, white collared supervisors.
- Middle management- plant managers, personnel managers, departmental heads.
- Top management- chairman, president.
Managerial Skills
- Conceptual skills- Ability to take broad and far-sighted view of his organisation and its growth in future.
- Technical skills- manager should understand the nature of job that people under him are doing.
- Human resource skill- Ability to interact with his co-workers and he should recognise their feelings and sentiments.
Difference between management and administration
- Management- involves doing lower level function consist of directing, executing policies, plans.
- Administration- involves thinking about new policies, plans.
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- This content is just recommended to the student for their last-minute preparation for there exams.
- This content is related to the syllabus of VTU, so we are using management and entrepreneurship VTU notes.
- This is not official notes prescribed by VTU.
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