Tag: Learning

Learning!

Learning is the process of acquiring new or modifying existing knowledge, behaviors, skills, values, or preferences. 

Evidence that knowledge has occurred may see changes in behavior from simple to complex, from moving a finger to skill in synthesizing information, or a change in attitude.

The ability to know possess by humans, animals, and some machines. There is also evidence of some kind of knowledge in some plants.

Some learn immediately, induced by a single event (e.g. being burn by a hot stove), but much skill and knowledge accumulate from repeat experiences.

The changes induced by knowledge often last a lifetime, and it is hard to distinguish known material that seems to be “lost” from that which cannot retrieve.

Definition of learning for Students
1: the act of a person who gains knowledge or skill Travel is a learning experience.
2: knowledge or skill gained from teaching or study. They’re people of great knowledge.
-@ilearnlot.
  • Top Countries for Military Expenditure

    Top Countries for Military Expenditure

    Discover the top countries for military expenditure and their strategic objectives. Explore the defense budgets and military capabilities of nations around the world. Military expenditure is a significant indicator of a country’s military strength and strategic priorities.

    Top Countries for Military Expenditure

    Here are some of the top countries based on their military expenditure, along with insights on their strategic objectives and defense budgets:

    United States

    The United States consistently ranks as the country with the highest military expenditure. With a defense budget that far exceeds that of any other nation, the U.S. allocates a significant portion of its budget to funding its military. This includes maintaining a large and technologically advanced armed forces, ensuring global presence with numerous military bases worldwide, and continuous investments in cutting-edge defense technology. The U.S. also invests heavily in nuclear capabilities, missile defense systems, and cyber defense.

    China

    China’s military spending has seen a rapid increase over the past few decades, reflective of its growing economic power and strategic ambitions. China’s defense expenditure supports its goal of modernizing its military forces, including the development of stealth aircraft, naval expansion featuring aircraft carriers, and advancements in missile technology. The People’s Liberation Army (PLA) is also focusing on cyber warfare and space capabilities as part of its comprehensive strategy to fortify its regional and global military position.

    India

    India’s military expenditure is driven by its strategic challenges, including border tensions with neighboring countries like Pakistan and China. The defense budget aims to modernize its armed forces, procure new weapons systems, and enhance its naval and air capabilities. India also focuses on indigenous defense manufacturing under initiatives like “Make in India,” aimed at reducing dependency on foreign arms imports. Counter-terrorism and internal security measures also consume a significant portion of its defense budget.

    Russia

    Russia maintains a high level of military spending to ensure it remains a global military power. The country’s defense budget supports extensive modernization programs for its military. Including the development of advanced missile systems, nuclear capabilities, and electronic warfare tools. Russia’s military doctrine emphasizes strategic deterrence and maintaining a robust response capability to any external threats. Military engagements in Syria and Ukraine also reflect its strategy of asserting influence and protecting national interests.

    Saudi Arabia

    Saudi Arabia’s military expenditure is among the highest in the world. Primarily influenced by regional security concerns, including the conflict in Yemen and tensions with Iran. The kingdom’s defense budget funds a well-equipped military with advanced weaponry, much of which is imported from the United States and Europe. Additionally, Saudi Arabia is investing in developing its domestic defense industry to enhance its self-reliance in defense production.

    United Kingdom

    The United Kingdom allocates significant resources to defense to ensure it remains a key player in global security. The UK’s defense budget supports its commitments to NATO, including nuclear deterrence through its Trident submarine fleet. It also invests in maintaining a strong conventional military force, with capabilities spanning land, sea, and air. Recent defense strategies also emphasize cyber defense, space capabilities, and addressing emerging threats.

    Germany

    Germany has increased its military spending in recent years to meet NATO’s defense spending targets and address new security challenges in Europe. The German defense budget includes significant investments in modernizing its armed forces, enhancing rapid deployment capabilities, and participating in multinational defense initiatives within the EU and NATO frameworks. Germany is also focusing on improving its cyber defense and intelligence capabilities.

    Japan

    Japan’s military expenditure aligns with its post-World War II pacifist constitution, focusing primarily on self-defense and regional security. However, recent years have seen Japan gradually expanding its defense capabilities in response to regional threats. Including North Korea’s missile programs and China’s growing military presence in the East China Sea. Japan invests heavily in missile defense systems, maritime security, and advanced technology for its Self-Defense Forces.

    South Korea

    South Korea invests heavily in its military due to the ongoing threat from North Korea. The defense budget includes funding for advanced weapon systems, missile defense, and cyber capabilities. South Korea is also increasing its investments in indigenous defense manufacturing to reduce reliance on foreign arms. The country’s military strategy focuses on deterrence, rapid response capabilities, and maintaining a technological edge over potential adversaries.

    France

    France maintains high military spending to support its global military commitments and its role as a key NATO member and EU security actor. The French defense budget funds a range of capabilities, including nuclear deterrence, counter-terrorism operations, and peacekeeping missions. France also invests in modernizing its armed forces, developing cyber defense capabilities, and maintaining a strong presence in international defense collaborations.

    The data on military expenditure can vary based on sources and methods of calculation. But these countries consistently feature among the top spenders in terms of defense budgets. Their substantial investments reflect a combination of strategic priorities, geopolitical challenges, and commitments to maintaining regional and global security.

    Military Expenditure Comparison: Side-By-Side

    Below is a comparison of some of the top countries based on their military expenditure. Highlighting their strategic objectives and defense budgets:

    CountryMilitary ObjectivesDefense Spending
    United StatesGlobal presence, technological advancement, nuclear capabilities, cyber defenseHighest in the world, extensive budget
    ChinaModernization, regional dominance, naval expansion, cyber warfare, space capabilitiesRapid increase, substantial budget
    IndiaBorder security, modernization, indigenous defense manufacturing, counter-terrorismSignificant budget, growing investment
    RussiaStrategic deterrence, modernization, electronic warfare, regional influenceHigh level, extensive modernization
    Saudi ArabiaRegional security, advanced weaponry, domestic defense industryAmong highest, large imports
    United KingdomNATO commitments, nuclear deterrence, conventional and emerging threatsSignificant investment, comprehensive
    GermanyNATO defense targets, rapid deployment, EU initiatives, cyber defenseIncreased spending, modernization focus
    JapanSelf-defense, regional security, missile defense systems, maritime securityGrowing investment, technology-driven
    South KoreaDeterrence, rapid response, advanced weapon systems, indigenous defense manufacturingHigh expenditure, technological edge
    FranceGlobal commitments, NATO member, nuclear deterrence, cyber defense, peacekeepingConsistent investment, modernization

    Their substantial investments reflect a combination of strategic priorities, geopolitical challenges, and commitments to maintaining regional and global security.

  • Five M’s in the Business

    Five M’s in the Business

    Learn how the five M’s – Man, Machines, Materials, Money, and Method – are crucial resources in effective business management.

    Five M’s in the Business

    Efficient management is the lifeboat of any developed business. The five M’s, which can be considered the resources of the business, are Man, Machines, Materials, Money, and Method.

    1. Man

    Management is the art of getting things done by a group of people. Thus, the availability of qualified, trained, skilled, experienced, and competent people is the most crucial factor in any management.

    Advantages:

    • Innovation: Qualified, skilled, and experienced individuals can bring in new ideas and innovations.
    • Productivity: Competent staff enhance productivity and efficiency.

    Disadvantages:

    2. Machines

    Management involves knowing what needs to be done and ensuring it’s done in the best and most cost-effective way. Thus, having capable machines and equipment is essential to achieve this.

    Advantages:

    • Efficiency: Machines can perform tasks faster and more accurately than humans.
    • Consistency: Machines provide consistent output quality.

    Disadvantages:

    • Cost: High initial investment and maintenance costs.
    • Obsolescence: Technological advancements can make existing machinery outdated.

    3. Materials

    Quality, quantity, availability, cost/market price, and the transportation of raw materials, semi-finished goods, and finished products are critical components to the success of management.

    Advantages:

    • Quality Control: High-quality materials lead to high-quality products, increasing customer satisfaction.
    • Availability: Timely availability of materials ensures continuous production.

    Disadvantages:

    • Cost Fluctuation: Material costs can fluctuate due to market conditions.
    • Supply Chain Risks: Disruptions in the supply chain can affect the availability of materials.

    4. Money

    Financial capital is utilized by businesses to acquire what they need to produce their products or provide their services. The availability of funds is extremely important for procuring capital goods, raw materials, tools, consumables, and working capital.

    Advantages:

    • Resource Acquisition: Adequate funds allow businesses to acquire necessary resources and expand operations.
    • Stability: Financial stability ensures smooth operations and the ability to withstand economic downturns.

    Disadvantages:

    • Debt: Excessive borrowing can lead to high-interest obligations and financial distress.
    • Mismanagement: Poor financial management can lead to inefficient use of funds.

    5. Method

    The process or method by which work is accomplished is crucial. The proper method ensures the required quality, quantity, and timely delivery, achieving the management objectives.

    Advantages:

    • Standardization: Proper methods ensure consistent quality and efficient production.
    • Competitive Edge: Innovative methods can differentiate a company from its competitors.

    Disadvantages:

    • Inflexibility: Overly rigid methods can stifle creativity and adaptability.
    • Implementation Cost: Developing and implementing new methods can be costly and time-consuming.

    Methods can create a competitive edge. For example, consider two girls preparing a cup of tea each with the same raw materials: milk, sugar, tea powder, etc.

    • Girl A: Puts milk in the utensil and boils it, then adds water, sugar, and tea powder, and boils it again.
    • Girl B: Boils water and sugar, then adds tea powder, and lastly adds milk.

    The two cups of tea taste different despite having the same ingredients because the method used makes the difference. Standardized methods ensure consistent results. That’s why the quality of idli sambar in an Udipi restaurant is always the same and why McDonald’s offers the same taste of French Fries worldwide. Standardized methods address these needs.

    Companies can also differentiate through methods. For example, Shampoo produced by Company A is in high demand. Company B, seeing this, researches Company A’s methods, improves upon them, and adds extra benefits to capture more market share.

    Similarly, among four bhelwalas, the one in demand might be successful due to a better preparation method and additional customer advantages like cleanliness, better presentation, extra quantity, etc., offering better value for money to the customers.

    By understanding and effectively managing these five M’s, businesses can optimize their operations and achieve their objectives. However, it is equally important to be aware of the potential drawbacks and address them proactively.

  • Leadership Explained by the Internet

    Leadership Explained by the Internet

    If management is defined as getting things done through others, then leadership should be defined as the social and informal sources of influence that you use to inspire action taken by others. It means mobilizing others to want to struggle toward a common goal. Great leaders help build an organization’s human capital, then motivate individuals to take concerted action. Leadership also includes an understanding of when, where, and how to use more formal sources of authority and power, such as position or ownership. Increasingly, we live in a world where good management requires good leaders and leadership. While these views about the importance of leadership are not new (see “Views on Managers Versus Leaders”), competition among employers and countries for the best and brightest, increased labor mobility (think “war for talent” here), and hyper competition puts pressure on firms to invest in present and future leadership capabilities.

    P&G provides a very current example of this shift in emphasis to leadership as a key principle of management. For example, P&G recruits and promotes those individuals who demonstrate success through influence rather than direct or coercive authority. Internally, there has been a change from managers being outspoken and needing to direct their staff, to being individuals who electrify and inspire those around them. Good leaders and leadership at P&G used to simply having followers, whereas, in today’s society, good leadership means followership and bringing out the best in your peers. This is one of the key reasons that P&G has been consistently ranked among the top ten most admired companies in the United States for the last three years, according to Fortune magazine. Ranking of Most Admired Firms for 2006, 2007, 2008. http://www.fortune.com (accessed October 15, (2008).

    Whereas P&G has been around for some 170 years, another winning firm in terms of leadership is Google, which has only been around for little more than a decade. Both firms emphasize leadership in terms of being exceptional at developing people. Google has topped Fortune’s 100 Best Companies to Work for the past two years. Google’s founders, Sergey Brin and Larry Page, built a company around the idea that work should be challenging and the challenge should be fun. http://www.google.com/intl/en/corporate/tenthings.html (accessed October 15, 2008). Google’s culture is probably unlike any in corporate America, and it’s not because of the ubiquitous lava lamps throughout the company’s headquarters or that the company’s chef used to cook for the Grateful Dead. In the same way, Google puts users first when it comes to online service, Google espouses that it puts employees first when it comes to daily life in all of its offices. There is an emphasis on team achievements and pride in individual accomplishments that contribute to the company’s overall success. Ideas are traded, tested, and put into practice with a swiftness that can be dizzying. Observers and employees note that meetings that would take hours elsewhere are frequently little more than a conversation in line for lunch and few walls separate those who write the code from those who write the checks. This highly communicative environment fosters a productivity and camaraderie fueled by the realization that millions of people rely on Google results. Leadership at Google amounts to a deep belief that if you give the proper tools to a group of people who like to make a difference, they will; What is a Leadership?.

    Successful Leaders around the World

    • My definition of a leader…is a man who can persuade people to do what they don’t want to do, or do what they’re too lazy to do, and like it.
      – Harry S. Truman (1884–1972), 33rd president of the United States.
    • You cannot manage men into battle. You manage things; you lead people.
      – Grace Hopper (1906–1992), Admiral, U.S. Navy.
    • Managers have subordinates—leaders have followers.
      – Chester Bernard (1886–1961), former executive and author of Functions of the Executive.
    • The first job of a leader is to define a vision for the organization…Leadership is the capacity to translate vision into reality.
      – Warren Bennis (1925–), author and leadership scholar.
    • A manager takes people where they want to go. A great leader takes people where they don’t necessarily want to go but ought to.
      – Rosalynn Carter (1927–), First Lady of the United States, 1977–1981. 

    Leadership Explained by the Internet? Leadership is both a research area and a practical skill encompassing the ability of an individual or organization to “lead” or guide other individuals, teams, or entire organizations. The literature debates various viewpoints: contrasting Eastern and Western approaches to leadership, and also (within the West) US vs. European approaches. US academic environments define leadership as “a process of social influence in which a person can enlist the aid and support of others in the accomplishment of a common task”. Leadership seen from a European and non-academic perspective encompasses a view of a leader who can be moved not only by communitarian goals but also by the search for personal power. In a holistic perspective, as the European researcher Daniele Trevisani highlights: “Leadership is a holistic spectrum that can arise from; (1) higher levels of physical power, need to display power and control others, force superiority, ability to generate fear, or group member’s need for a powerful group protector (Primal Leadership), (2) superior mental energies, superior motivational forces, perceivable in communication and behaviors, lack of fear, courage, determination (Psychoenergetic Leadership), (3) higher abilities in managing the overall picture (Macro-Leadership), (4) higher abilities in specialized tasks (Micro-Leadership), (5) higher ability in managing the execution of a task (Project Leadership), and (6) higher level of values, wisdom, and spirituality (Spiritual Leadership), where any Leader derives its Leadership from a unique mix of one or more of the former factors”.

  • Functions of Management by Henri Fayol

    Elements of Management by Henri Fayol

    Writer’s regarded the elements of management as the functions of management. He said that management should be viewed as a process consisting of five elements. You will Know about “14 Principles of Management by Henri Fayol” & also read “Nature and Characteristics of Management”.

    Fayol’s five Elements They are;

    • Planning.
    • Organising.
    • Commanding.
    • Coordination.
    • Controlling.

    He has regarded planning as the most important managerial function. Creation of organization structure and commanding function is necessary to execute plans. Coordination is necessary to make sure that everyone is working together, and control looks whether everything is proceeding according to the plan.

    These are Fayol’s five functions of management;

    Planning:

    Planning is looking ahead. According to Henri Fayol, drawing up a good plan of action is the hardest of the five functions of management. This requires an active participation of the entire organization. With respect to time and implementation, planning must be linked to and coordinated on different levels. Planning must take the organization’s available resources and flexibility of personnel into consideration as this will guarantee continuity.

    Organizing:

    An organization can only function well if it is well-organized. This means that there must be sufficient capital, staff, and raw materials so that the organization can run smoothly and that it can build a good working structure. The organizational structure with a good division of functions and tasks is of crucial importance. When the number of functions increases, the organization will expand both horizontally and vertically. This requires a different type of leadership. Organizing is an important function of the five functions of management.

    Commanding:

    When given orders and clear working instructions, employees will know exactly what is required of them. Return from all employees will be optimized if they are given concrete instructions with respect to the activities that must be carried out by them. Successful managers have integrity, communicate clearly and base their decisions on regular audits. They are capable of motivating a team and encouraging employees to take initiative.

    Coordination:

    When all activities are harmonized, the organization will function better. Positive influencing of employees behavior is important in this. Coordination, therefore, aims at stimulating motivation and discipline within the group dynamics. This requires clear communication and good leadership. Only through positive employee behavior management can the intended objectives be achieved.

    Controlling:

    By verifying whether everything is going according to plan, the organization knows exactly whether the activities are carried out in conformity with the plan.

    Control takes place in a four-step process:

    • Establish performance standards based on organizational objectives.
    • Measure and report on actual performance.
    • Compare results with performance and standards.
    • Take corrective or preventive measures as needed.

    Each of these steps is about solving problems in a creative manner. Finding a creative solution is often more difficult than discovering what the problem is than making choices or the decision-making process. It starts with creating an environmental analysis of the organization and it ends with evaluating the results of the implemented solution.

  • 14 Principles of Management by Henri Fayol

    14 Principles of Management by Henri Fayol

    Explain, What is 14 Principles of Management by Henri Fayol?

    Meaning; Business administration is the management of a business. It includes all aspects of overseeing and supervising business operations and related field which include Accounting, Finance, and Marketing. Management consists of the interlocking functions of creating corporate policy and organizing, planning, controlling, and directing an organization’s resources in order to achieve the objectives of that policy. Definition of Management “To manage is to forecast and to plan, to organize to command, to coordinate and to control; by Henri Fayol.” Read Many Definition of Management. Also learn, 14 Principles of Organization, 14 Principles of Management by Henri Fayol!

    Following the 14 Principles of Management by Henri Fayol are:

    • Division of Work: Specialization allows the individual to build up experience, and to continuously improve his skills. Thereby he can be more productive.
    • Authority: The right to issue commands, along with which must go the balanced responsibility for its function.
    • Discipline: Employees must obey, but this is two-sided employees will only obey orders if management plays their part by providing good leadership.
    • Unity of Command: Each worker should have only one boss with no other conflicting lines of command.
    • Unity of Direction: People engaged in the same kind of activities must have the same objectives in a single plan. This is essential to ensure unity and coordination in the enterprise. Unity of command does not exist without unity of direction but does not necessarily flows from it.
    • Subordination of individual interest (to the general interest): Management must see that the goals of the firms are always paramount.
    • Remuneration: Payment is an important motivator although by analyzing a number of possibilities, Fayol points out that there is no such thing as a perfect system.
    • Centralization & Decentralization: This is a matter of degree depending on the condition of the business and the quality of its personnel.
    • Scalar chain & Line of Authority: A hierarchy is necessary for the unity of direction. But lateral communication is also fundamental, as long as superiors know that such communication is taking place. Scalar chain refers to the number of levels in the hierarchy from the ultimate authority to the lowest level in the organization. It should not over-stretch and consist of too many levels.
    • Order: Both material order and social order are necessary. The former minimizes lost time and useless handling of materials. The latter is achieving through organization and selection.
    • Equity: In running a business a ‘combination of kindliness and justice’ is needed. Treating employees well is important to achieve equity.
    • Stability of Tenure of Personnel: Employees work better if job security and career progress are assured to them. An insecure tenure and a high rate of employee turnover will affect the organization adversely.
    • Initiative: Allowing all personnel to show their initiative in some way is a source of strength for the organization. Even though it may well involve a sacrifice of ‘personal vanity’ on the part of many managers.
    • Esprit de Corps: Management must foster the morale of its employees. He further suggests that: “real talent’s need to coordinate the effort, encourage keenness, use each person’s abilities, and reward each one’s merit without arousing possible jealousies and disturbing harmonious relations.”

    14 Principles of Management by Henri Fayol - ilearnlot
    Thanks, Also, Photo Credit to pixabay.com/ More free Images!

  • Nature and Characteristics of Management

    Nature and Characteristics of Management

    What is Management? Define, Management is essential for an organized life and necessary to run all types of management. Also, Good management is the backbone of successful organizations. “Management is the art of getting things done through and with people in formally organized groups.” Managing life means getting things done to achieve life’s objectives and managing an organization means getting things done with and through other people to achieve its objectives. Nature and Characteristics of Management – Goal-oriented, Universal, Integrative Force, Social Process, Multidisciplinary, Continuous Process, Intangible, and Art as well as Science. So, what we discussing is –  The Topic of is Nature and the Characteristics of Management.

    Explain, The Nature and Characteristics of Management.

    The salient features which highlight the nature of management is as follows:

    • Goal-oriented.
    • Universal.
    • Integrative Force.
    • Social Process.
    • Multidisciplinary.
    • Continuous Process.
    • Intangible, and.
    • Art as well as Science.

    Now, Explain each one;

    Management goal-oriented:

    Management is not an end in itself. It is a means to achieve certain goals. Management has no justification to exist without goals. Also, Management goals call group goals or organizational goals. The basic goal of management is to ensure efficiency and economy in the utilization of human, physical and financial resources. The success of management measure by the extent to which one of the established goals achieved. Thus, management is purposeful.

    Management is universal:

    Management is an essential element of every organized activity irrespective of the size or type of activity. Wherever two or more persons engage in working for a common goal, management is necessary. All types of organizations, e.g., family, club, university, government, army, cricket team, or business, require management. Thus, management is a pervasive activity. The fundamental principles of management are applicable in all areas of organized effort. Also, Managers at all levels perform the same basic functions.

    Management is an Integrative Force:

    The essence of management lies in the coordination of individual efforts into a team. Also, Management reconciles the individual goals with organizational goals. As the unifying force, management creates a whole that is more than the sum of individual parts. Also, It integrates human and other resources.

    Management is a Social Process:

    Management is done by people, through people, and for people. It is a social process because it is concerned with interpersonal relations. The human factor is the most important element in management. According to Appley, “Management is the development of people not the direction of things. A good manager is a leader, not a boss. It is the pervasiveness of human element which gives management its special character as a social process”.

    Management is multidisciplinary:

    Management has to deal with human behavior under dynamic conditions. Therefore, it depends upon wide knowledge derived from several disciplines like engineering, sociology, psychology, economics, anthropology, etc. Also, The vast body of knowledge in management draws heavily upon other fields of study.

    Management is a continuous Process:

    Management is a dynamic and on-going process. The cycle of management continues to operate so long as there is an organized activity for the achievement of group goals.

    Management is Intangible:

    Management is an unseen or invisible force. It cannot see but its presence can be felt everywhere in the form of results. However, the managers who perform the functions of management are very much tangible and visible.

    Management is an Art as well as Science:

    It contains a systematic body of theoretical knowledge and it also involves the practical application of such knowledge. Management is also a discipline involving specialized training and an ethical code arising out of its social obligations. Based on these characteristics, management may be defined as a continuous social process involving the coordination of human and material resources to accomplish desired objectives. It involves both the determination and the accomplishment of organizational goals.

    Question & Answers:

    • Write Nature and Characteristics of Management?
    • Write Basic Nature and Characteristics of Management?
    • What is Nature of Management?
    • What is Characteristics of Management?
    • How to Explain the Nature and Characteristics of Management?
    Nature and Characteristics of Management
    Nature and Characteristics of Management. Image credit from #Pixabay.

  • Concepts of Management

    Concepts of Management:

    The term management has been interpreted in several ways; some of which are given below:

    Management as an Activity:

    Management is an activity just like playing, studying, teaching etc. As an activity, management has been defined as the art of getting things done through the efforts of other people. Management is a group activity wherein managers do to achieve the objectives of the group.

    The activities of management are:

    • Interpersonal activities
    • Decisional activities
    • Informative activities

    Management as a Process:

    Management is considered a process because it involves a series of interrelated functions. It consists of getting the objectives of an organization and taking steps to achieve objectives. The management process includes planning, organizing, staffing, directing and controlling functions.

    Management as a process has the following implications:

    (i) Social Process: Management involves interactions among people. Goals can be achieved only when relations between people are productive. The human factor is the most important part of the management.

    (ii) Integrated Process: Management brings human, physical and financial resources together to put into the effort. Management also integrates human efforts so as to maintain harmony among them.

    (iii) Continuous Process: Management involves continuous identifying and solving problems. It is repeated every now and then till the goal is achieved.

    (iv) Interactive process: Managerial functions are contained within each other. For example, when a manager prepares plans, he is also laying down standards for control.

    Management as an Economic Resource:

    Like land, labor, and capital, management is an important factor of production. Management occupies the central place among productive factors as it combines and coordinates all other resources.

    Management as a Team:

    As a group of persons, management consists of all those who have the responsibility for guiding and coordinating the efforts of other persons. These persons are called as managers who operate at different levels of authority (top, middle, operating). Some of these managers have the ownership stake in their firms while others have become managers by virtue of their training and experience. Civil servants and defense personnel who manage public sector undertakings are also part of the management team. As group managers have become an elite class in society occupying positions with enormous power and prestige.

    Management as an Academic Discipline:

    Management has emerged as a specialized branch of knowledge. It comprises principles and practices for effective management of organizations. Management has become as a very popular field of study as is evident from the great rush for admission into institutes of
    management. Management offers a very rewarding and challenging career.

    Management as a Group:

    Management means the group of persons occupying managerial positions. It refers to all those individuals who perform managerial functions. All the managers, e.g., chief executive (managing director), departmental heads, supervisors and so on are collectively known as
    management.

    For example, when one remarks that the management of Reliance Industries Ltd. is good, he is referring to the persons who are managing the company. There are several types of managers which are listed as under.

    1. Family managers who have become managers by virtue of their being owners or relatives of the owners of a company.
    2. Professional managers who have been appointed on account of their degree or diploma in management.
    3. Civil Servants who manage public sector undertakings.

    Managers have become a very powerful and respected group in modern society. This is because the senior managers of companies take decisions that affect the lives of a large number of people. For example, if the managers of Reliance Industries Limited decide to expand production it will create the job for thousands of people. Managers also help to improve the social life of the public and the economic progress of the country. Senior managers also enjoy a high standard of living in society. They have, therefore, become an elite group in the society.

    Question & Answers:

    • Write Concepts of Management?
    • Write Basic Concepts of Management?
    • What is Concepts of Management?
    • What is Process in Management?

  • Many Definitions of Management

    Definitions of Management:

    It is very difficult to give a precise definition of the term ‘management’. Different scholars from different disciplines view and interpret management from their own angles. The economists consider management as a resource like land, labor, capital and organization. The bureaucrats look upon it as a system of authority to achieve business goals. The sociologists consider managers as a part of the class elite in the society.

    The definitions by some of the leading management thinkers and practitioners are given below:

    (i) Management consists in guiding human and physical resources into dynamic, hard-hitting organization unit that attains its objectives to the satisfaction of those served and with a high degree of morale and sense of attainment on the part of those rendering the service. —Lawrence A. Appley.

    (ii) Management is the coordination of all resources through the process of planning, organizing, directing and controlling in order to attain stated objectives. —Henry L. Sisk.

    (iii) Management is principally the task of planning, coordinating, motivating and controlling the efforts of others towards a specific objective. —James L. Lundy.

    (iv) Management is the art and science of organizing and directing human efforts applied to control the forces and utilize the materials of nature for the benefit of man. —American Society of Mechanical Engineers.

    (v) Management is the creation and maintenance of an internal environment in an enterprise where individuals, working in groups, can perform efficiently and effectively towards the attainment of group goals. —Harold Koontz and Cyrill O’Donnell.

    (vi) Management is the art of knowing what you want to do and then seeing that it is done in the best and cheapest way. —F.W. Taylor.

    (vii) To manage is to forecast and to plan, to organize to command, to coordinate and to control. —Henry Fayol.

    (viii) Management is the function of executive leadership anywhere. —Ralph C. Davis.

    (ix) Management is concerned with seeing that the job gets done; its tasks all center on planning and guiding the operations that are going on in the enterprise. —E.F.L. Breach.

    (x) Management is a distinct process consisting of planning, organizing, actuating and controlling performed to determine and accomplish the objectives by the use of people and resources. —George R. Terry.

    (xi) Management is guiding human and physical resources into dynamic organizational units which attain their objectives to the satisfaction of those served and with a high degree of morale and sense of attainment on the part of those rendering services. —American Management Association.

    (xii) Management is a multi-purpose organ that manages a business and manages Managers and manages Workers and work. —Peter Drucker.

    Question & Answers:

    • Write Definitions of Management?
    • Write Definitions of Management by Writer?
    • Write Basic Definitions of Management?
    • What is Definitions of Management?

    Note: Every Definition wrote by the different writer!

  • Organization in Types of Risk

    Organization in Types of Risk:

    Risk refers to sudden unplanned events which cause major disturbances in the organization and trigger a feeling of fear and threat amongst the employees.

    Organization in Types of Risk; Following are the types of Risk:

    1. Natural Risk
      • Disturbances in the environment and nature lead to natural Risk.
      • Such events are generally beyond the control of human beings.
      • Tornadoes, Earthquakes, Hurricanes, Landslides, Tsunamis, Flood, Drought all result in natural disaster.
    2. Technological Risk
      • Technological Risk arises as a result of the failure in technology. Problems in the overall systems lead to technological Risk.
      • Breakdown of machine, corrupted software and so on give rise to technological Risk.
    3. Confrontation Risk
      • Confrontation crises arise when employees fight amongst themselves. Individuals do not agree with each other and eventually depend on non-productive acts like boycotts, strikes for indefinite periods and so on.
      • In such a type of Risk, employees disobey superiors; give them ultimatums and force them to accept their demands.
      • Internal disputes, ineffective communication and lack of coordination give rise to confrontation Risk.
    4. Risk of Malevolence
      • Organizations face Risk of malevolence when some notorious employees take the help of criminal activities and extreme steps to fulfill their demands.
      • Acts like kidnapping company’s officials, false rumors all lead to Risk of malevolence.
    5. Risk of Organizational Misdeeds
      • Crises of organizational misdeeds arise when management takes certain decisions knowing the harmful consequences of the same towards the stakeholders and external parties.
      • In such cases, superiors ignore the after effects of strategies and implement the same for quick results.

    Organization in Types of Risk; A risk of organizational misdeeds can be further classified into following three types:

    • Risk of Skewed Management Values
      • A risk of Skewed Management Values arises when management supports short-term growth and ignores broader issues.
    1. Risk of Deception
      • Organizations face Risk of deception when management purposely tampers data and information.
      • Management makes fake promises and wrong commitments to the customers. Communicating wrong information about the organization and products lead to Risk of deception.
    2. Risk of Management Misconduct
      • Organizations face Risk of management misconduct when management indulges in deliberate acts of illegality like accepting bribes, passing on confidential information and so on.
    3. Risk due to Workplace Violence
      • Such a type of Risk arises when employees are indulged in violent acts such as beating employees, superiors in the office premises itself.
    4. Risk Due to Rumor’s
      • Spreading false rumors about the organization and brand lead to Risk. Employees must not spread anything which would tarnish the image of their organization.
    5. Bankruptcy
      • A Risk also arises when organizations fail to pay its creditors and other parties.
      • Lack of fund leads to Risk.
    6. Risk Due to Natural Factors
      • Disturbances in environment and nature such as hurricanes, volcanoes, storms, flood; droughts, earthquakes etc. result in Risk.
    7. Sudden Risk
      • As the name suggests, such situations arise all of a sudden and on an extremely short notice.
      • Managers do not get warning signals and such a situation is in most cases beyond any one’s control.
    8. Smoldering Risk
      • Neglecting minor issues, in the beginning, lead to smoldering Risk later.
      • Managers often can foresee Risk but they should not ignore the same and wait for someone else to take action.
      • Warn the employees immediately to avoid such a situation.

    Note: “Reading simple notes Organization in Types of Risk, also know about Risk Management and Risk Management Model“

  • Risk Management Model

    Risk Management Model:

    Risk refer to unplanned events which cause harm to the organization and lead to disturbances and major unrest amongst the employees.

    Risk gives rise to a feeling of fear and threat in the individuals who eventually lose interest and trust in the organization.

    Gonzalez-Herrero and Pratt proposed a Risk Management Model which identified three different stages of Risk management.

    According to Gonzalez-Herrero and Pratt, Risk management includes following three stages:

    • Diagnosis of Risk: The first stage involves detecting the early indicators of Risk. It is for the leaders and managers to sense the warning signals of a Risk and prepare the employees to face the same with courage and determination. Superiors must review the performance of their subordinates from time to time to know what they are up to.

    The role of a manager is not just to sit in closed cabins and shout on his subordinates. He must know what is happening around him. Monitoring the performance of the employee regularly helps the managers to foresee Risk and warn the employees against the negative consequences of the same. One should not ignore the alarming signals of Risk but take necessary actions to prevent it. Take initiative on your own. Don’t wait for others.

    • Planning: Once a Risk is being detected, Risk management team must immediately jump into action. Ask the employees not to panic. Devise relevant strategies to avoid an emergency situation. Sit and discuss with the related members to come out with a solution which would work best at the times of Risk. It is essential to take quick decisions. One needs to be alert and most importantly patient. Make sure your facts and figures are correct. Don’t rely on mere guess works and assumptions. It will cost you later.
    • Adjusting to Changes: Employees must adjust well to new situations and changes for the effective functioning of an organization in near future. It is important to analyze the causes which led to a Risk at the workplace. Mistakes should not be repeated and new plans and processes must be incorporated into the system.

    Simple Risk Management Model Chat:

    Risk Management Model Chat

    Structural Functions Systems Theory:

    According to structural functions systems theory, communication plays a pivotal role in Risk management. The correct flow of information across all hierarchies is essential. Transparency must be maintained at all levels. Management must effectively communicate with employees and provide them the necessary information at the times of Risk. Ignoring people does not help, instead, makes situations worse. Superiors must be in regular touch with subordinates. Leaders must take charge and ask the employees to give their best.

    Diffusion of innovation Theory:

    Diffusion of innovation theory proposed by Everett Rogers supports the sharing of information during emergency situations. As the name suggests during Risk each employee should think out of the box and come out with something innovative to overcome tough times. One should be ready with an alternate plan. Once an employee comes up with an innovative idea, he must not keep things to himself. Spread the idea amongst all employees and departments. Effective communication is essential to pass on ideas and information in its desired form.

    Unequal Human Capital Theory:

    An unequal human capital theory was proposed by James. According to unequal human capital theory, inequality amongst employees leads to Risk at the workplace. Discrimination on the grounds of caste, job profile as well as salary lead to frustrated employees who eventually play with the brand name, spread baseless rumors and earn a bad name for the organization.