Essentials of Management

Technology Management
Management is set of management disciplines that allows organizations to manage its technological fundamentals to create competitive advantage.

OR

Technology Management
Technology management can be defined as the integrated Planning designing operating and controlling of technological products process and services

What is Management?

Management

Coordinating work activities so that they are completed efficiently and effectively with and through other people.

Some Important Terms to Remember

Efficiency

Completeness of activities with minimum resource is called efficiency i.e. maximum output with minimum input

Effectiveness

Completion of activities is called effectiveness.

Means Efficiency

Ends Effectiveness G O A L GOALS Low waste High Attain ment A T T A I N M E N T

R E S O U R C E U S A G E

Organization

A group of people working together in a structured and coordinated fashion to achieve a set goal is called organization.

Common Characteristics of All Organizations

Structure

Goals B

People

Goals
Goals are the end results towards which all the activity is directed. Different organizations may have different goals e.g. profitability, Growth, Productivity, Leadership, Client Satisfaction etc.

Productivity
It is the input output ratio within a time period with due consideration to quality. Productivity = Output
(Input means Human Resources, Capital, Raw material)

Input It can be improved by:

Increasing output with some input Decreasing inputs but maintaining same the outputs Increasing output and decreasing input

Who are managers?

Manager is someone who works with and through other people by coordinating work activities in order to accomplish organizational goals.

Difference between Managers and Operative employees

Operatives are people who work directly

on a job or task & have no responsibility for overseeing the work of others. In contrast
managers direct the activities of other

people in the organization.

Types of Managers
First-line Managers Are at the lowest level of management and manage the work of non-managerial employees Middle Managers Manage the work of first-line managers
Top Managers

Are responsible for making organizationwide decisions and establishing plans and goals that affect the entire organization

Managerial levels

Top Managers Middle Managers First-Line Managers Nonmanagerial Employees

Top Managers
Managers at or near the top of the organization who are responsible for making organizational-wide decision and establishing the goals and overall strategy are called top managers.
Titles found in this group include President, Vice President, CEO, Chairman of Board etc.

Top Managers
Managers at or near the top of the organization who are responsible for making organizational-wide decision and establishing the goals and overall strategy are called top managers.
Titles found in this group include President, Vice President, CEO, Chairman of Board etc.

Middle Managers
Middle level managers are primarily responsible for implementing policies and the plans developed by the top managers and for supervising and coordinating the activities of lower level manger. Titles found in this group are Plant Manager, Operational manager, Branch Manager or Departmental Head etc.

First-line Manager

First-line managers supervise and coordinate the activities of operating employees. Titles found in this group are supervisors, coordinator and office managers.

Management Process
Management process is composed of four activities :1. Planning 2. Organizing 3. Leading 4. Controlling