**Characteristics of management**
Goal-oriented proces!- An essential aspect of management, is to combine individual efforts and direct them towards ochoviing organisational goals. goak differ from organisation to These organisat ation. have a goal for example, an organisation com have a profit motive ichericas a Social wook aganisation might of exadicating illiteracy among children. mangement. recognises these goals and aims to fulfil them.
2.Pervasive
management is a requirement and essential for the functioning of all kinds of organisations social, economic or political.
s without the management, processes of an would b.c. chaotic and 6 imordered. angemisation
further, it is equally essential for organisations across. all countries. However, the only diff lies in the how management is implemented within an organisation 30
Multidimensional. :
management has three dimensions: -
→
work -management: every organisation exists for completion some work. This work varies from producing clothes in
of clothing Management Sector to treating patients in hospitale. looks at this wook as goals to be achieved &
works towards these goals. Further, this is done in terms of problemas to be solved, decisions to be mode, plans to be established, budgets to be prepared, responsibilities to be
to be delegated.
Lavigned and authority to be
management of people Are the dimension of management is concerned with getting work done forom people, by axsigning asset to worthy employees who can work effectively towards the realisation of organisational goals.
& management of operations: - As every organization a'ms at the completion of work, they also have a particular product on Sesusice to provide with respect to their domain of operation. Note that this is met with the help of a production proces. management also looks after a production process of an organisation that transfroms the input with the help of "O technology auquissed into the output fror consumption.
4. Continuous Process :- There are vaccious functions of management these anc- planning, organising, deeeting, staffing and Controlling. As a matter of fact, a manager performs all these finctions stimultaneously. Although there. functions are separate, management is concerned. Imultaneously with performing all of them multaneously time. consequently, management Continuous process. all the management is a dynamic
5Group Activity!
Dagen An organisation consists of a logge number of individuals having different resons and proposes to join. Again there' individuals differ behaviours. However, based on their needs and it is important to realise that. these divers individuals work together towards the achievement of the coganisational goals. enables all the individuals to and develop as their
Management disents the individuals efforts toward's
the right direction. further effective management
grow
needs and opportunities change:
6. Dynamic funch on function -
organisation has to adapt to the environment in order to succed This management is dynamia no in
natuere and adapts to the ever-changing economic and political conditions. A Social, ous example of this is how Mc Donald's famous had to change its moniu to serve and emerge as a market. major for food giant in the Indian pane 8
4 Intangible Force. tangible. on management Connot be touched or it Howevery effective management can learly 8.
Economic resource: - management is an essential ingredient of an organisation.
to Intangible Force : - management Compot be touched to it won't tangible early felt. However effective management can 6.
Economic resource:- management is an essential ingredient of an organisation.go Multi-disciplinary subject management has goden as a field of study taking the help of so many disciplines such as enginorsing, anthrobohay other eta
**Principles of management**
-By henry fayol 14 principles are given
Division of Work
According to this principle, the work is divided into different kinds such as technical, financial, commercial, accounting and managerial
It is assigned to employees as per their qualities and capabilities
Authority and Responsibility
Authority is the right to take decisions, it is necessary to get the things done appropriately from subordinates
Subordination of individual interests to the general interest
According to this principle the interest of an individual must be given less importance than the interest of the organization
The degree of centralization
According to this principle there must be a proper balance between centralization and decentralization in the organisation
Discipline
Employee must obey and respect the rules that govern the organisation
Unity of Command
Each member of organisation should receive orders from only one supervisor
Unity of Direction
This principle states that there should be one head and one plan in every organization
Remuneration
Employees must be given fair remuneration, wages or salary to keep them satisfied financially as well as retain them for long span of time within the organization
Skills, Expertise, Knowledge, Tenure, cost of living, market trend, profitability of the organisation
Line of Authority / Scalar Chain
Scalar chain means the hierarchy of authority
from the top level to the lower level for the purpose of communication
Employee A
Employee B Employee C
Employee D Employee E
Order
This principle is based on A place for everything and everything in its place
Equity
Management should be fair as well as friendly to the subordinates
Stability of Tenure of Personnel
At the time of recruitment of employees, the management should assure them about stability of tenure or job security
Initiative
Initiative refers to volunteering to do the work in an innovative way.
Esprit de corpse / Team work
If all employees are working as a union and with mutual trust the difficulties can be solved quickly
**Functions of management**
1.Planning -It is first function. It is base of all other function.
in advance what to do, how Deciding in advance who is to do to do, when to do, who is It bridges the gap between stand reach. today and where where we we want to
2.Organising -establishing To organise the activities and esta an organisation structure to execute the plan.
-Deciding the framework of working how many departments posts Lin units and Subunits of are needed how many or designations are needed each department.
How to distribute the authority and responsability among different people.
3.Staffing third step or function of a It is manager.
to recruiting, selecting, appointing the employees, assigning them duties maintaining cordial relations and taking care of grievances of employees
This is the part of 3rd page both page 4rth and 3rd are part of each other
Training and Developing the employees Deciding Remuneration Bromotion Maintaining Personal Records of employer.
4 .Directing Griving directions or instructions to employers them activities of employees, " and get work done by motivating Supervising the communicating with them. It includes Supervising, motivating, Communicating and leadership.
5.Controlling It is last function of Managers.
Managers try to match Actual performance with the plamed performance
If there is no both then find out the deviations measures. and match between managers toy reasons suggest correctiva
**Functions of financial management
Some of the major functions of a financial manager are as follows:
1. Estimating the Amount of Capital Required
2. Determining Capital Structure
3. Choice of Sources of Funds
4. Utilisation/ investment of Funds
5. Disposal of Profits or Surplus
6. Management of Cash
7. Financial Control.
1. Estimating the Amount of Capital Required:
The financial manager makes estimates of funds required for both short-term and long-term.
2. Determining Capital Structure:
Once the requirement of capital funds has been determined, a decision regarding the kind and proportion of various sources of funds has to be taken. For this, financial manager has to determine the proper mix of equity and debt and short-term and long-term debt ratio. This is done to achieve minimum cost of capital and maximise shareholders wealth.
3. Choice of Sources of Funds:
Before the actual procurement of funds, the finance manager has to decide the sources from which the funds are to be raised. The management can raise finance from various sources like equity shareholders, preference shareholders, debenture- holders, banks and other financial institutions, public deposits, etc.
4. Utilisation/ investment of Funds:
The funds procured by the financial manager are to be prudently invested in various assets so as to maximise the return on investment: While taking investment decisions, management should be guided by three important principles, viz., safety, profitability, and liquidity.
5. Disposal of Profits or Surplus:
The financial manager has to decide how much to retain for ploughing back and how much to distribute as dividend to shareholders out of the profits of the company. The factors which influence these decisions include the trend of earnings of the company, the trend of the market price of its shares, the requirements of funds for self- financing the future programmes and so on.
6. Management of Cash:
Management of cash and other current assets is an important task of financial manager. It involves forecasting the cash inflows and outflows to ensure that there is neither shortage nor surplus of cash with the firm. Sufficient funds must be available for purchase of materials, payment of wages and meeting day-to-day expense.
7. Financial Control:
Evaluation of financial performance is also an important function of financial manager. The overall measure of evaluation is Return on Investment (ROI). The other techniques of financial control and evaluation include budgetary control, cost control, internal audit, break-even analysis and ratio analysis. The financial manager must lay emphasis on financial planning as well.
**Advertising Appeals
ADVERTISING APPEALS
An advertising appeal refers to the approach used by an advertiser to attract the attention or interest of consumers and influence their feelings towards the product, service or cause.
TYPE OF ADVERTISING APPEALS
Humor appeals:
A humor appeal makes customer/consumer laugh and it Create a link with them.
Example of humor appeals:- LIC if yo u get LIC then you can get better life otherwise you will having that life is n othing
RATIONAL APPEAL
Advertising appeal are those directed at the thinking process of the audience. Rational appeal emphasize on product like quality, economy, convenience,comfort, health, performance, efficiency and durability.
FOCUS ON HEALTH AND NUTRITION ASPECT
Women's Horlicks
EMOTIONAL APPEAL
EMOTIONAL APPEAL
POSITIVE
NEGATIVE
An emotional appeal is related to an individual's and social need for purchasing certain products and services. Many consumers are emotionally motivated or driven to make certain purchasesPOSITIVE EMOTIONAL APPEAL
Advertisement use positive emotional appeal such as humor, love, pride, and joy to influence the behavior of consumer
A parent's love is the same the world ove
Enriched with Vitamin
Congratulations from our save my to your royal
Johnson's baby on Er.s.
NEGATIVE EMOTIONAL APPEAL
An advertiser can work with negative appeal such as fear, guilty, shame, etc.
To get the desire response from the target audience. Use of such appeals can get people to do things that they should do (for instance, brush their teeth regularly) or to stop doing things they should not (for instance, quit smoking).
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Sexualities appeals:
Theses appeal gives a specific massage to the target Audience group as like:- fragrance products
Example:-if you get that sent then eve ryone person love you more
6. Musical Appeals
Music can be used as types of advertising appeals as it has a certain intrinsic value and can help in increasing the persuasiveness of the advertisement. It can also help catch attention and increase customer recall.
The Idea- 'Honey Bunny' jingle is in a very funny voice and well rhymed. It is equal to a song, and because of that customers register it easily.
Idea
Idea Rings all india
What a network!
**Marketing management
marketing management
It is about putting the right product or a combination where of in the place, at the right time and at the right place.
7P's of marketing management
People
→ Employees Management
Culture → customer sevices.
(Physical enviornment/ Evidence
8 mart Rundowns comfort, facilities
Process
→ Especially related to relevant company How to serve consumer
7 P's of marketing
Promotion
Special offers Poster → Advertising freegift
Endorsement competition)
Direct mailing Joint
price
Bra
Design Technology warrante accessories
A usefulness → value quality
Packaging
Price
college fee Rentfel, Salary tution fel
PLACE
Retail wholesale Internet Direct Sale
Peer to Peer
→ Multichannel!
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