Title POM notes by Rustam.pdf ✅

2 | ItoM Handouts by Rustam Shrestha BCA SMC 2078(Sagarmatha Batch) (5th semester) Function of Management 1. Universal and Pervasive: • needed in all types of organization regardless of size 2. Goal oriented • Aims organizational goals as primary objective 3. Continuous process • An ongoing activity involves continuous planning and controlling 4. Multidimensional • Various activity managing people work and encompass amultiple aspect of organization 5. Group activity • Involves connecting people coordinating and leading to achieve goals 6. Dynamic function • Adapts changes flexible responsive to new challenge and opportunity 7. Science and art • Science and creativity combination 8. A profession • Requires specific knowledge qualification and skill 9. Multidisciplinary • Knowledge derived from psychology economics sociology and more 14 Principles of Management(DAD U SEE USSR O I SEE) 1. Division of Work (कार्य विभाजन) 2. Authority and Responsibility (अधिकार र जजम्मेिारी) 3. Discipline (अनशु ासन) 4. Unity of Command (आदेशको एकता) 5. Subordination of Individual Interest (व्र्जततगत हितको अिीनता) 6. Scalar Chain (स्के लर चेन) 7. Equity (न्र्ार्) 8. Unity of Direction (हदशाको एकता) 9. Stability of Tenure (कार्यकालको जस्िरता) 10. Remuneration (पाररश्रममक) 11. Order (व्र्िस्िा) 12. Initiative (पिल) 13. Centralization (के न्रीर्करण) 14. Esprit de Corps (समिू भािना) Functions of management(POSDCoRB) 1. Planning (र्ोजना बनाउने): के, कसरी, कहिलेगनेभन्ने कुरा पहिलेनैननणयर् गने। 2. Organizing (संगठन गने): कमयचारीिरूको औपचाररक सम्बन्ि संरचना बनाउने। 3. Staffing (कमयचारी व्र्िस्िापन): सिी व्र्जततलाई सिी स्िान/पदमा राख्ने। 4. Directing (ननदेशन हदने): हदशा प्रदान गनेर व्र्ििारलाई प्रभाि पाने। 5. Supervision (अनुगमन): कामको ननगरानी गने। 6. Co-ordination (समन्िर्): विमभन्न गनतविधििरूलाई ममलाउने। 7. Reporting (ररपोहटयङ): प्रनतक्रिर्ा प्रदान गने। 8. Budgeting (बजेट बनाउने): राजस्ि र खचयको वित्तीर् अनुमान बनाउने। Features of Management 1. Achieving the objectives (उद्देश्र्िरू प्राप्त गने): लक्ष्र्िरू िामसल गने। 2. Working with others (अरूसँग काम गने): सिकमीिरूसँग ममलेर काम गने। 3. Attaining efficiency and effectiveness (दक्षता र प्रभािकाररता प्राप्त गने): कामलाई दक्ष र प्रभािकारी बनाउने। 4. Adopting situational approach (पररजस्िनतजन्र् दृजटटकोण अपनाउने): पररजस्िनतअनुसार दृजटटकोण अपनाउने। 5. Coping with the environment (पर्ायिरणसँग जुध्ने): िातािरणसँग अनुकूल िुने। 6. Responding to social needs (सामाजजक आिश्र्कतािरूको प्रनतक्रिर्ा हदने): सामाजजक आिश्र्कतािरूको सम्बोिन गने। 7. Growing professionalism (व्र्ािसानर्कता बढाउने): व्र्ािसानर्कता विकास गने। 8. Universality in application (अनुप्रर्ोगमा सािभय ौममकता): सबैठाउँमा लागूिुने।

4 | ItoM Handouts by Rustam Shrestha BCA SMC 2078(Sagarmatha Batch) (5th semester) • Environmental: Assesses environmental factors, sustainability, and ecological impacts relevant to business practices. • Global: Evaluates global market trends, international trade, and geopolitical factors affecting business on a global scale. Corporate Governance Corporate governance refers to the set of systems, principles and process by which the organization is governed. They provide guidelines as to how the company can be directed or controlled such that it can fulfill its goals and objectives in a manner that adds to the value of the company and is also beneficial for all stakeholders in the long term. Corporate governance is based on principles such as conducting the business with all integrity and fairness, being transparant with regard to all transactions, making all the necessary disclosures and decisions Principle of corporate governance Rights and equitable treatment of shareholders 1. Interest of other stakeholders 2. Role and responsibilities of the board 3. Disclosure and transparency Changing perspective of Management 1. Mechanistic to Organic: Organizations were once viewed as machines with rigid structures and clear hierarchies. Now, they are seen more like living organisms that need to adapt and evolve in response to their environment 2. Strategic to Agile: Traditional strategic planning focused on long-term goals and stability. Today, there's a shift towards agility, emphasizing flexibility, rapid response, and continuous improvement 3. Top-Down to Collaborative: Decision-making used to be centralized at the top levels of management. Modern organizations encourage collaboration and input from all levels, fostering a more inclusive and innovative culture 4. Profit-Driven to Purpose-Driven: While profit remains important, there's a growing emphasis on purpose and values. Organizations are increasingly focusing on social responsibility, sustainability, and ethical practices 5. Local to Global: With globalization, organizations are no longer confined to local markets. They must navigate and compete in a global marketplace, considering diverse cultural, economic, and regulatory environments Classical Perspective 1. Scientific Management Theory (Frederick Winslow Taylor) Scientific management focuses on improving efficiency and productivity through scientific analysis of work processes. Assumptions 1. Workers are motivated primarily by monetary incentives. 2. There is "one best way" to perform a task. 3. Efficiency can be achieved through scientific analysis. Major Principles 1. Develop a scientific method for each task. 2. Scientifically select and train workers. 3. Divide work between managers (planning) and workers (execution). 4. Establish a cooperative relationship between workers and management. Facts • Developed during the Industrial Revolution. • Introduced standardized tools and processes. Real-World Example McDonald's uses assembly-line techniques to optimize food preparation. Advantages 1. Increases efficiency and productivity. 2. Scientific training improves skills. 3. Focuses on standardization of tasks. 4. Reduces wastage and improves resource utilization. 5. Encourages specialization. Disadvantages 1. Ignores human emotions and motivation. 2. Leads to repetitive, monotonous work. 3. Focuses only on productivity, neglecting worker satisfaction. Classical perspective Scientific Administra tive(GMT) Bureaucrat ic Behaviorial Human Relation Behaviorial •`Need Hierarchy •`2 factor •`theory x and y Quantitative Behaviorial science system contigency