MODERN MANAGEMENT

APPROACHES AND
CONCEPTS
PRESENTERS-
NAVEEN
AJAY
LATIKA
DIKSHANT
“MANAGEMENT IS THE ART OF
GETTING THINGS DONE
THROUGH PEOPLE.”
MAJOR INSIGHTS
 MODERN MANAGEMENT
MODERN:
Related to present or recent times.
Characterized by or using the most up-to-date techniques,
equipment, etc

MANAGEMENT:
The process of managing: administer and regulate (resources
under one’s control).
 MODERN
APPROACHES OF
MANAGEMENT
QUANTITATIVE APPROACH
Also known as Operation Research,  MANAGEMENT = DECISION-MAKING
Operational Analysis and
Management Science Approach.
 ORGANIZATION = DECISION-MAKING
UNIT

It says that the managerial problems, variables affecting the

problems, managerial functions, and interrelations among them
can be logically expressed and mathematically presented.
All the functions and variables can be transferred into mathematical terms to determine managerial
effectiveness.

It is based on systematically developed knowledge.

This approach is based on the maximisation of results.

Based on special need, useful model can be developed to facilitate forecasting, decision making and
controlling of managerial activities.

This approach is logical and scientific and can be applied universally.

 SYSTEM APPROACH
• An organization is a system consisting four subsystems namely task,
structure, people, and environment.
• The subsystems are interconnected and interdependent one another. Maintaining the
balance.
• An organization is an open adaptive system which continuously interacts with its
environment.
• Management regulates and modifies the system to optimize performance.
• An organization is more than just the aggregate of various parts. This is called
‘synergy’
SUBSYSTEM 1 SUBSYSTEM 2
PRODUCTION MARKETING
MANAGEMENT MANAGEMENT

MANAGEMEN
T SYSTEM
SUBSYSTEM 4
SUBSYSTEM 3 FINANCIAL
PERSONNEL MANAGEMENT
MANAGEMENT
A system is a combination of parts known as subsystems.

System generates synergy.

This approach is based on the maximisation of results.

Management system is probabilistic and not deterministic.

It has to be adaptive in order to adjust with internal and external.

 MODERN
MANAGEMENT
CONCEPTS
TOTAL- means responsibility of each and every individual to maintain the
quality.

QUALITY- degree of customer satisfaction.

MANAGEMENT- in order to achieve total quality, continuous improvements

should be emphasised or rather than quick changes.

TQM provides an entire systematic view of quality management. It is a management system that
emphasise upon the continuous improvements in qualitative aspect of products and services by
involving all employees and workforce.
IMPORTANCE OF TQM

 BETTER EMPLOYEE RELATIONS.

 IMPROVED OPERATIONAL PERFORMANCE.

 GREATER CUSTOMER SATISFACTION.

 INCREASED FINANCIAL PERFORMANCE.

 CREATES A GOOD CORPORATE CULTURE.

IMPORTANCE OF JUST-IN-TIME CONCEPT

 Reduced lead time enables meeting customer requirement.

 Exact delivery schedule is possible with JIT practices.
 Customer prefer to order from a firm reliable on maintaining delivery schedules.
 Quality of product is improved by following JIT.
 Waiting time is greatly reduced by implementing JIT.
 Satisfying the market demand without delay in deliveries with the help of JIT.
IMPORTANCE OF BENCHMARKING

UNDERSTANDING COST

IMPROVES WORKING PRACTICES

UNDERSTANDS BUSINESS DRIVERS

IMPROVES QUALITY
IMPORTANCE OF KNOWLEDGE MANAGEMENT

KNOWLEDGE INTENSIVE

UNSTABLE CONDITIONS

PROVIDES OPPORTUNITIES

AIDS SHARING CULTURE

RETAIN CRITICAL CAPABILITIES