Management: Principles and Practices

Industrial revolution and the developments in the fields of communication, transportation, automation and the energy sources have influenced the life in a big way. The old world was characterized by the need to manage things?stone, wood and iron. But the modern world is characterized by the need to manage people. All kinds of resources, physical as well as human, are sought to be managed in a manner that should bring optimum results. In optimizing the use of these resources, a catalytic role is played by a group of people who are called 'managers'.? In order to become a successful manager, students require knowledge and skills to perform such a role. This book is a conscious attempt to equip the students, pursuing management courses, with latest management theories and practices widely prevalent in the organisations. A systematic study and learning of management as a discipline require an exploration into different aspects related to it. Since many students have limited exposure to real organizations, the book contains recent examples from a broad spectrum of organizations to illustrate the major concepts and to help students apply the knowledge. Best company practices have been illustrated in different chapters of this book. Published reports of companies, research organizations, public institutions and websites are the other sources of input that have been used to enhance the content of the book. It is a student-oriented textbook as it provides a comprehensive exposure to the principles and practices of management in a clear, direct and easily understandable manner. At the same time, this book would be helpful in updating and refreshing the knowledge of practicing managers in industry. Table of Contents PART I: MANAGEMENT ? NATURE AND GLOBAL PRACTICES Nature and Process of Management Evolution of Management Thought Ethics and