Definition of management:

Management plays a pivotal role in the operation of business organizations. For achieving the goals of business organization, it is necessary to guide, direct and co-ordinate the efforts of others and constructively canalizes their potential. According to Peter Drucker “ It is a multipurpose organ that manages a business and manages managers and work and the  workers”.  

Management can be defined as:

      “Process of planning, organizing, Directing, and controlling the resources of an organization in the efficient and effective pursuit of specified organizational goals”. 

The various definition of Management are given below----

Louis Allen “Management is what manager does”.

F.W. Taylor “Management is knowing exactly what you want men to do and then seeing that they do it in the best and efficient way”.

Marry Parkar Follet “Management is the art of getting things done through people”.

Management Process:

Management process is seen as a process of activities which can be divided in to four distinct but integrated activities; Planning, Organizing, Leading and Controlling. Manager should efficiently utilize the resources (such as physical, financial, human and Information)

 

                                      Fig:  Efficiency and Effectiveness

    

Function of Management

Planning:-

-Determination of long and short range objectives.

-Development of strategies to achieves.

-Formulation of action Plans.

Organizing :-

-Identification of activities.

-Job design.

-Matching job and Employees.

-Delegation of authority.

Staffing :-

-Manpower planning.

-Requirement for attracting suitable number of employees.

-Selection and training.

-Transfer and promotion  

-Training and development of employees.

Directing :- 
-Communication

-Motivation

-Leadership 

Controlling :-

-Measurement of performance against predetermined goals

-Identification of the deviation

-Corrective action to rectify the deviation.

Span and Control

In the process of establishing reporting relationships among organizations members, it must be determined as to how a many people will report to the various managers. Making this critical determination defines the span of management or span of control for each manager.

    I.  Tall organization

   II.  Flat organization

Factors determining Effective Span:

A contingency approach is used to determine the span of control. The functions can be mentioned as follows.

Ability of the managers: - Some managers are more capable than others are and can, there fore a large number of subordinates.

Ability of the Employees: - If the employees are competent and posses the necessary skill and motivation to perform the task assigned.

Type of work: - If the employees are doing similar jobs, the span of management can be larger.

Well defined Authority and Responsibility: - A well-defined authority and responsibility helps managers to manage large number of subordinates.

Geographic Location:- A managers can manage large number of subordinates if there are located.

Sophisticated information and control system:- The Sophisticated information and control system may accommodate large number of managers managed effectively and large span

Level of management: The span also varies with the management levels.

Classification of Product

Product can be classified in to three categories-

  i.Convenience goods:-These are the goods, for which the buyer spends minimum time and effort in making the purchase. The consumer will accept and buy the conveniently available brand. The convenience goods have low unit prices, less bulky and are purchased frequently.

  ii.Shopping goods:-These are the tangible products for which customers want to compare quality, price and styles in several store before making a purchase decision.

  Furniture, major applications, automobiles etc.

   iii. Specialist Goods: - A tangible products for which consumers have a strong brand preference and are willing to expend considerable time and effort in locating the brand is called a Specialty good.

Marketing Management

Marketing is one of the powerful tools employed by organization in their struggle for survival and growth. Marketing may be defined as, “the process of planning and executing the conception, pricing, promotion and distribution of ideas, goals and services to create exchanges that satisfy individuals, organization and society”.

Core concepts of Marketing: 

The core concept of marketing can be represented as shown in figure-

 

Marketing begins with needs and wants. Wants refer to the desires for specific satisfactory of needs. Wants are unlimited. Demands are the wants backed by ability and willingness to buy. People satisfy their needs with products/services. Value is the worth of product which is the ratio of function to cost. Value is consumer’s estimate of products capability to satisfy needs. Exchange is a process of obtaining a desired product from some one by offering in return. Transaction is a trade of values between two or more parties. Relationship marketing refers to establishing a long term mutually rewarding relationship between the customers, supply etc. A concept of market leads to marketing. A marketer is one who is engaged in an exchange of values.

Five concepts of marketing

          i.Exchange Concept: - The central idea of marketing is the exchange of product between the seller and buyer.

         ii.Production Concept:-The production oriented organizations concentrate on high production efficiency and high production volume.

         iii.Product concept: - The concept believes in the fact that customers prefer products which have better quality, performance and innovative features.

         iv.Sales Concept: - More concern towards the problems of selling and distribution of products and attention towards attainment of sales volume.

         v.Marketing concept: - It is concerned with consumer satisfaction and meeting the needs of the customer profitability.

Promotional Methods

There are five forms of promotion methods:-

i.Personal Selling:-It is direct presentation of a product to prospective customers by the representative of the organization selling it. Personal selling can take place face to face, or over the phone or it may be directed towards a consumer or middlemen. It is a best form of promotional element.

  

ii.Advertising:-Advertising impersonal type mass communication supplement advertising and facilities personal selling. It is paid for by the sponsor and frequently involves a temporary incentive to encourage a purchase.

iii.Public Relations:-It covers a wide Variety of communication efforts to contribute to generally favorable attitudes and opinions towards an organization and its products. It does not include any specific sales message.

iv.Publicity:-Publicity is a special form of public relation that involves news stories about an organization or its products like advertising. it involves an impersonal message that reaches a mass audience through the media.

v.Sales Promotion:-Sales promotion one kind of promotion to where company provided extra facilities for the time being.