About the book
The book
‘Principles and Practices of Modern Management’ inspired by the theories of Late Prof. C.K.Prahalad is designed to give a basic understanding of principles, concepts, and techniques of modern management by embracing fresh principles as a foundational part of a systematic approach to reinvent management. This book addresses the challenge of adaptability to modern business concepts and develop general framework for understanding management that applies to managers in all organizations—large or small, public or private, product-oriented or service-oriented, especially MNCs and caters specially to the management students and managers from developed and developing world
Topics covered in this book include values and ethics, communication, planning, decision making, organizing, leading, controlling, and innovation. The chapter on innovation highlights the principles that should guide the efforts MNCs make as they ratchet up their ability to execute in this shifting economy. The content also emphasizes upon the application of management principles and concepts to real-business situations.
Contents
PREFACE (V)
Unit I: Meaning and Nature of Management
1. INTRODUCTION TO MANAGEMENT 3
Introduction • Definition of Management • Elaborating Management
Nature of Management • Why Principles of Management? • Art and Science of Management •Management as an Activity • Management as a Profession
Features of Management • Objectives of Management • Management and Administration •Basic Management Skills • Levels of Management • Schools of Management
Manager •Managerial Roles • Managerial Skills • Types of Managers • Functions of a Manager
Summary Questions • Descriptive Questions • Objective Questions
References
2. EVOLUTION OF MANAGEMENT THOUGHT 40
Introduction
• Classical Management
• Bureaucracy
• Management Theory of Elton Mayo
• Douglas McGregor (1906 – 1964)
• Rensis Likert (1903– 1981)
• Abraham Maslow (1908 – 1970)
• Herbert Simon (1916–2001)
• C.K. Prahalad: Modern Management Guru
•Prahalad’s Pyramid Approach
Social Systems Approach
• Decision Approach
• Systems Approach
• The 7-S Model
Summary
Questions
• Descriptive Questions
•Objective Question
References
3. SOCIAL AND ETHICAL ISSUES IN MANAGEMENT 85
Introduction
Ethical Issues in Business
• Recognizing Ethical Issues in Business
• Ethical Awareness
• Making Decisions about Ethical Issues
• Improving Ethical Behaviour in Business
Social Issues in Business
• The Nature of Social Responsibility
• Why Should Business be Socially Responsible
• Social Responsibility Issues
• Relations with Owners and Shareholders
• Responsibility Towards Different Interest Groups
• Employee Relations
• Consumer Relations
• Social Values and Business Ethics
Environmental Issues
• Environmental Pollution and Role of Business
• Role of Business in Environmental Pollution
• Managerial Ethics
Summary
Questions
• Descriptive Questions
• Objective Questions
References
Unit II: Functions of Management –1
4. PLANNING 117
Introduction
• Importance of Planning
• Steps in Planning Process
Types of Planning
• Identifying Barriers to Planning
• Recognizing the Advantages of Planning
• Types of Plans
• Mission Statement
• Purpose
• Goal
• Different between Goal and Objective
• Objective
• Management by Objectives (MBO)
Strategy
• Strategy and Tactics
• Generic Competitive Strategies
• Strategy Levels
• Strategy Formulation
• Strategy Implementation
• Strategic Planning Process
• Guidelines for Successful Planning and Implementation
• Strategic Planning Tools
• SWOT Analysis
• Failure of Strategic Planning
• Strategy in the Global Environment
Policies
•Procedures
• Policies and Procedures
• Project
• Rules
• Budget
• Planning Premise
• Role of Strategy
• Concept of Forecasting
• Techniques of Forecasting
Summary
Questions
• Descriptive Questions
•Objective Questions
References
5. ORGANIZING 234
Introduction
• Organizing Function
• Theories of Organisation
Structure of an Organisation
• Principles of Organisational Structure
• Departmentalisation
• Organisational Structure Types
• Classification of Organisations
Organisation Design
• Organisational Design and Change
Summary
Questions
• Descriptive Questions
• Objective Questions 267
References
6. DECISION-MAKING 269
Introduction
• Importance of Decision-Making
• Process of Decision-Making
• Types of Decision-Making
• Programmed and Non-programmed Decisions
• Certainty, Risk and Uncertainty
Decision-Making Techniques
• Principle of Limiting Factor
• Knowledge of Outcomes
• Effective Decision-Making
• Decision Tree Analysis
• Group Decision-Making
• Rationality in Decision-Making
• Creativity
• Role of Creativity
• Creative Problem Solving
Summary
Questions
• Descriptive Questions
• Objective Questions
References
Unit III: Functions of Management–2
7. STAFFING 301
Introduction
• Nature of Staffing Function
• Importance of Staffing
• Factors Affecting Staffing
• Manpower Planning
• Obstacles in Manpower Planning
Job Analysis
• Recruitment
• Selection
• Orientation and Placement
• Employee Remuneration
Training and Development
• Transactional Analysis (TA)
• Organisation Development
• Process of Organisational Development
Performance Appraisal
• Effective Performance Appraisal
• Job Evaluation
Summary
Questions
• Descriptive Questions
• Objective Questions
References
8. DIRECTING AND MOTIVATING 358
Introduction
Directing
• Characteristics of Direction
• Importance of Directing Function
• Role of a Supervisor
• Functions of a Supervisor
Motivation
• What is Motivation
• Concept of Motivation
• Theories of Motivation
• Motivation Incentives
• Importance of Motivation
• Motivation and Performance
• Improving Motivation
Quality of Working Life
• Job Satisfaction
• Morale
• Morale Building
Summary
Questions
• Descriptive Questions
• Objective Questions
References
9. DELEGATION AND DECENTRALIZATION 396
Introduction
Delegation
• How to Delegate?
• Delegation of Authority
• Importance of Delegation
• Principles of Delegation
• Delegation Effective
Decentralization
• Types of Decentralization
• Choosing the Most Appropriate Form of Decentralization
• Reason for Decentralization
• Centralization and Decentralization
Summary
Questions
• Descriptive Questions
• Objective Questions
References
10. COORDINATION 416
Introduction
• Coordination: the Essence of Management
• Coordination and Cooperation
• Need for Coordination
• Role of Coordination in Organisation Performance
Types and Technique of Coordination
• Techniques for Effective Coordination
• Essentials for Effective Coordination
• Principles of Coordination
Summary
Questions
• Descriptive Questions
• Objective Questions
References
11. VALUE CREATION AND INNOVATION 429
Introduction
• Scope for Indian Companies under Globalization
• A Super Competitive Company
• Competing Strategies in Hype-Competition
• Indian Organisation Most Wanted
• Role of Co-creaton in Value Creation
• Migrating to the New Frontier: The Role of Technology
Summary
Questions
• Descriptive Questions
• Objective Questions
References
Unit IV: Leadership, Communication and Change Control
12. LEADERSHIP 443
Introduction
• Features of Leadership
• Importance of Leadership
• Leadership and Management
• Formal and Informal Leader
• Qualities of a Leader
• Functions of Leadership
• Organisational Leadership
• Classification of Leadership
• Styles of Leadership
• Leadership Styles and its Applications in India
• Leadership Development
Summary
Questions
• Descriptive Questions
• Objective Questions
References
13. COMMUNICATION 467
Introduction
• Technical Communication
• Need for Technical Communication
• Elements of Technical Communication Process
• Functions of Technical Communication
• Importance of Communication
• Role of Communication
Communication Channels
• Formal Communication
• Informal Communication or Grapevine
• Types of Communication
• Oral Communication
• Listening as a Tool of Communication
• Written Communication
• Non-Verbal Communication
• Direction of Communication
• Communication Barriers
Summary
Questions
• Descriptive Questions
• Objective Questions
References
14. CONTROLLING 511
Introduction
• What is Controlling?
• Features of Controlling Function
• Process of Controlling
• Relationship between Planning and Controlling
• Types of Control
• Problems of Control
• Span of Control
• Operating Control
• Quality Control
Total Quality Management
• Quality Circle
• Inventory Control
• Tine-Event Network Analysis
• Gantt Chart
• PERT/CPM
• Milestone Budgeting
Summary
Questions
• Descriptive Questions
• Objective Questions
References
15. CHANGE AND DEVELOPMENT 549
Introduction
• Scope of Change Management
• Technology Change Management
• Trends in Organisational Change
• Dynamic Synchronization of Strategy and Information Technology
• Closing the Gap and Leveraging IT
• Resistance to Change
• Re-engineering
• Re-engineering and TQM
Summary
Questions
• Descriptive Questions
• Objective Questions
References
BIBLIOGRAPHY
INDEX
Dr. Pankaj Madan, internationally renowned practicing professor and actualizer, is a multidisciplinary academician with degrees in Production Engineering, Management and Web Technology. He is a Practicing Professor and Corporate Trainer of international repute and is presently Associate Professor at Faculty of Management Studies, Gurukul Kangri University, Haridwar. In 2009-10 he was Director with COER School of Management, College of Engineering, Rookee and before turning to academia he had worked with two reputed Engineering Companies.
In the past Dr. Madan had taught at University of Southern Queensland in Dubai as an Asst. Professor and is Visiting Professor at Shaoxing University, China and CENTRUM Catolica, the Business Centre of the Pontifician, University of Peru. He is also listed as Premium Educator for Harvard Business School.
Dr. Madan is a quality consultant and imparts corporate trainings and consultancy on Quality Management and Career Planning. He has already authored 10 books and conducted more than 500 workshops and trainings. One of his books was also listed among Best –Sellers of India Today Book Club. He has contributed research papers to many national and international journals. He is associated with 15 universities nationally and internationally for various academic purposes and has professional links with many corporate bodies.
Dr. Ashutosh Priya is the Professor and Director of Management Studies at Amrapali Institute, Haldwani. He has wide knowledge encompasses Management, Economics and Law. Besides being a Doctorate in Economics he is also a qualified lawyer. He has more than 16 years of experience in academics and industry.
Dr. Priya has attended many workshops, faculty development programmes and seminars. He has presented papers in more than 40 seminars and more than 25 of his papers have been published in reputed management journals and edited two books in the area of Management.
Besides being a seasoned academician, he is known to be a good organizer of academic events. His areas of interest are Economics and International Business. His present area of research is “International Business & Entrepreneurship”.
