Day 3 was a day of many new and interesting managerial concepts.
We will discuss them in detail in this post.
Craftsmanship
In this a person is working as an individual, has to set his own goals. The time period in which the work has to be completed is decided by the craftsman himself.
Advantages
· Skills are high.
· Level of satisfaction is also high.
· No dependency.
Disadvantages
· The management in this kind of set-up is zero.
· Alienation is high.
· Work is not done in parallel.
Modern Management
Modern Management Theory - Management is one or the other form has existed in every nook and corner of the world since the dawn of civilization. Modern Management has grown with the growth of social-economics and scientific institution. Modern view consists that a worker does not work for only money. They work for their satisfaction and happiness with good living style. Here Non- financial award is most important factor.
In an organisation there is a chain of command, a hierarchy which has to be followed. Instructions have to be passed on from one person to another. This was tried to be demonstrated in the 2nd exercise, but the objective was not achieved and the reason being too many instructions passed on to the person building the tower. This is the condition of every middle management in any organisation, on which Dr. Mandi explained the importance of the role of middle management in an organisation. The role of middle managers has to be defined by the top management to minimise this confusion. The pro’s and con’s of an organisation are as follows:
Advantages
· Work can be performed in parallel.
· Specialisation in work can be achieved.
· Dexterity is achieved.
· More Profits.
· De-skilling is done.
Disadvantages
· Skills are less.
· Satisfaction level is also less.
· Inter- Dependency is more.
· De-skilling is done.
So in an organisation a group of people are working together to attain a single goal. Small fraction of the total work is assigned to an individual, which is called specialisation. This in turn increases the proficiency and hence reduces the time taken to complete a particular task.
We now come to the 3 E's of Management.
What does an organisation trying to achieve by fragmenting the work and specialisation?
“We are what we repeatedly do. Excellence, then, is not an act, but a habit.”
They are trying to achieve excellence. To achieve excellence what we need is effectiveness and efficiency in our actions. Excellence, effectiveness and efficiency together make the 3 E’s of Management, and the co-relation between these three is as follows:
Mathematically,
Excellence = Efficiency x Effectiveness
(Speed) x (Direction)
In this equation, we can measure the efficiency by using the corresponding techniques whereas there is no way in which we can measure the effectiveness of an action. So, the efficiency and effectiveness are like speed and direction respectively, by which an organisation is heading towards excellence
“More out of less for more is Excellence”
“More out of less is Efficiency”
Effectiveness can tell us whether we are moving in the same direction or not, it can tell us whether we are focusing our resources in an efficient way or not. For e.g., Internet help us increase our efficiency, but how we use internet is effectiveness.
Hope this post helps you understand the concepts better :)
We will discuss them in detail in this post.
Craftsmanship
In this a person is working as an individual, has to set his own goals. The time period in which the work has to be completed is decided by the craftsman himself.
Advantages
· Skills are high.
· Level of satisfaction is also high.
· No dependency.
Disadvantages
· The management in this kind of set-up is zero.
· Alienation is high.
· Work is not done in parallel.
Modern Management
Modern Management Theory - Management is one or the other form has existed in every nook and corner of the world since the dawn of civilization. Modern Management has grown with the growth of social-economics and scientific institution. Modern view consists that a worker does not work for only money. They work for their satisfaction and happiness with good living style. Here Non- financial award is most important factor.
In an organisation there is a chain of command, a hierarchy which has to be followed. Instructions have to be passed on from one person to another. This was tried to be demonstrated in the 2nd exercise, but the objective was not achieved and the reason being too many instructions passed on to the person building the tower. This is the condition of every middle management in any organisation, on which Dr. Mandi explained the importance of the role of middle management in an organisation. The role of middle managers has to be defined by the top management to minimise this confusion. The pro’s and con’s of an organisation are as follows:
Advantages
· Work can be performed in parallel.
· Specialisation in work can be achieved.
· Dexterity is achieved.
· More Profits.
· De-skilling is done.
Disadvantages
· Skills are less.
· Satisfaction level is also less.
· Inter- Dependency is more.
· De-skilling is done.
So in an organisation a group of people are working together to attain a single goal. Small fraction of the total work is assigned to an individual, which is called specialisation. This in turn increases the proficiency and hence reduces the time taken to complete a particular task.
We now come to the 3 E's of Management.
What does an organisation trying to achieve by fragmenting the work and specialisation?
“We are what we repeatedly do. Excellence, then, is not an act, but a habit.”
They are trying to achieve excellence. To achieve excellence what we need is effectiveness and efficiency in our actions. Excellence, effectiveness and efficiency together make the 3 E’s of Management, and the co-relation between these three is as follows:
Mathematically,
Excellence = Efficiency x Effectiveness
(Speed) x (Direction)
In this equation, we can measure the efficiency by using the corresponding techniques whereas there is no way in which we can measure the effectiveness of an action. So, the efficiency and effectiveness are like speed and direction respectively, by which an organisation is heading towards excellence
“More out of less for more is Excellence”
“More out of less is Efficiency”
Effectiveness can tell us whether we are moving in the same direction or not, it can tell us whether we are focusing our resources in an efficient way or not. For e.g., Internet help us increase our efficiency, but how we use internet is effectiveness.
Hope this post helps you understand the concepts better :)
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