Management And Entrepreneurship For Engineers

By | December 13, 2017
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Management And Entrepreneurship For Engineers Explained In Detail

Let’s start to learn management and entrepreneurship for engineers,

Management

Management And Entrepreneurship For Engineers - Management


Definition:

  • Art of getting things done from people.
  • The process which consists of directing, organizing, controlling to determine and accomplish resource and use of people.

Importance of management

  • Goal oriented.
  • Universal.
  • Productivity.
  • Multidisciplinary.
  • Integrative force.

Functions of management

  • Planning
  • Organising
  • Directing
  • Controlling

Roles of manager

Interpersonal Role

  • Figurehead- Manager has to attend public functions, he should attend the wedding functions of his co-workers.
  • Leader- Every manager needs to encourage his employees to achieve his company goal.
  • Liaison- Manager should collect the external contacts, vertical command to collect the information which is helpful for his organization.

Informational Role

  • Monitor- He should scan out external society response about his organization.
  • Disseminator
  • Spokesman- He should represent his organization before various outside groups which help for company growth like government officials, labor unions, financial institutions.

Decisional Role

  • Entrepreneur- Manager should look for innovations in his organization to improve products, creating new products or service.
  • Disturbance handler- He should be very active in finding out the solution to any problem.

Levels of Management

  • First-line management- foreman, white collared supervisors.
  • Middle management- plant managers, personnel managers, departmental heads.
  • Top management- chairman, president.

Managerial Skills

  • Conceptual skills- Ability to take a broad and far-sighted view of his organization and its growth in future.
  • Technical skills- the manager should understand the nature of the job that people under him are doing.
  • Human resource skill- Ability to interact with his co-workers and he should recognize their feelings and sentiments.

Difference between management and administration

  • Management- involves doing lower level function consist of directing, executing policies, plans.
  • Administration- involves thinking about new policies, plans.

Organizing and Staffing

Management And Entrepreneurship For Engineers - Organising and Staffing


Organising

Definition: Social unit or human grouping structure to attain the specific goal.

Characteristics

  • Consist of group of people who have dynamic human element of organization
  • Helps in identifying various task of individual to achieve the common goal of organization
  • Helps to achieve organizational objectives or goals.
  • Helps in the realization of the plan.
  • Helps in nurturing special skills, talent by virtue of division of labor.

Principle 

  • Specialization, span of control, scalar principle or chain of command, simplicity,
  • Objectives, exception, the unity of command, authority, efficiency, the unity of direction.
  • Balance, acceptability, responsibility, delegation

Span of control / Span of supervision / Span of authority

  • Indicates the number of subordinates who report directly to the manager.
  • Span is too wide – Managers- overburned, subordinates –little guidance.
  • Span is too narrow- Manger- under-utilized, subordinates- over controlled.

Departmentalization

Definition: Differentiating horizontally tasks or activities into discrete segments is called departmentalization.

Types- Process, purpose

Process

  • Business organization – Production, finance, and marketing.
  • Technology- Based on discrete stages in process manufacturing product or technology involved in the manufacture the of the process.

Purpose

  • Products- ITC / WPRO – Software, LED bulbs, solar panels. / Tata- Motors, consultancy, construction.
  • Customers- On the basis of services they offer. / Big automobile services enterprises have departments for servicing cars, scooter, heavy vehicles.
  • Regions- Indian railways.
  • Division
  • Time- Hospitals, fire departments, security.

Centralization VS Decentralization

Centralization

  • Authority of decision making is the central part of the organization.
  • Authority is only in the hands of managerial positions at the top level.
  • Subordinates don’t have any authority to make decisions.

Decentralization

  • Decision-making power to lower level of organization.
  • A large number of decisions in a large number of areas are taken by the lower level of organization.

Committee

Definition: Group of people who have been assigned some tasks or some problem with their decision and implementation.

Types

  • Advisory- Recommendation role. They cannot enforce their implementation of advice.
  • Executive- They have the authority to take the decision and enforce them.
  • Joint consultation- Representative of labor manager. They help to promote a better relationship between manager and labor.

Staffing/ Human Resource Management

Definition: Two processes involved in staffing- filling and keeping filled positions in the organization structure.

Staffing sub-functions

  • Recruitment
  • Selection of the best qualified from those who seek the job.
  • Training employees
  • Performance appraisal

Importance

  • Staffing helps to discover the talented and competent workers.
  • Helps to assign right man for the right job.

Recruitment

Definition: Process of identifying sources of prospective candidates and to stimulate them to apply for jobs.

Internal source- Transfer and promotion.

External source

 1) Direct recruitment

2) Advertising

3) Employees agency

4) Educational trusts

5) Recommendations

Selection Process

Definition: Leads to the employment of person having an ability of qualifications to perform the job, which has fallen vacancy in the organization.

Basic purpose- Choosing right candidate.

Steps involved in selection process

  • Receipt of application
  • Screening of application and initial interview of candidates.
  • Employment tests
  • Interview
  • Background investigation and medical examinations
  • Final interview.

Entrepreneurship

Management And Entrepreneurship For Engineers - Entrepreneurship


Entrepreneur: Person who discover new ideas, business opportunities and brings funds to establish the business, organize, manage its operation to provide economic goods and services.

Entrepreneurship:  Dynamic activity which helps the entrepreneur to

  • To bring changes in the process of production.
  • Innovation in the business.
  • New ideas and usage of resources.
  • Establishing new market.

Characteristics of Entrepreneur

  • Action-oriented accepts responsibility, intelligent, un-waving determination, commitment.
  • Dedicated, creative, hardworking, highly motivated, future vision, self-confident.
  • Self-disciplined, thinker and doer.

Qualities of Entrepreneur

  • Success and achievement, risk bearer, planner, opportunity explorer.
  • Stress hacker, independent, flexible, self-confident, motivated.

Functions

Idea generation – Determining business objective – Rising of funds – Procurement of machines and materials—Market research – Recruitment of manpower—Implementation of a project.

Types of entrepreneurs

According to the type of business

  • Business entrepreneur s
  • Trading entrepreneurs
  • Industrial entrepreneurs
  • Corporate entrepreneurs
  • Agriculture entrepreneur
  • Retail entrepreneur
  • Service entrepreneur

According to the use of technology

  • Technical
  • Non-technical
  • Professional
  • High technical
  • Low technical

According to the growth

  • Growth
  • Super growth

According to the gender

  • Men
  • Women

According to the stages of development

  • Modern
  • Classical
  • Urban

According to the sale of operation

  • Small
  • Large

Myths about Entrepreneurship

  • Entrepreneurs are born not made.
  • Entrepreneurs are academic, social, misfits.
  • Entrepreneurs fit on an ideal profile.
  • Money is essential to becoming an entrepreneur.
  • Luck is needed to be an entrepreneur.
  • The great idea is the vital ingredient in the recipe for success.
  • The best friend will be a great business partner.
  • Having no buss is great fun.
  • One can make lots of money.
  • Life is much simpler if I work myself.

Problems faced by the Entrepreneurs

Internal

  • Inadequate technical know-how.
  • Locational disadvantages
  • Outdated production process.

External

  • Infrastructural
  • Financial
  • Marketing
  • Taxation
  • Raw material
  • Technology

Other management problems

  • Managerial deficiency
  • Finance
  • Manufacturing and technical problems
  • Product planning

Capacity building of Entrepreneurship

  • Creates the right environment for success.
  • Ensures entrepreneurs have right skill.
  • Ensures the entrepreneurs have access to
  • Enable networking and exchange.

Schemes and Policies By Central Government

Management And Entrepreneurship For Engineers- Schemes and Policies By Central Government


1) SSI – Small Scale Industries Board

  • SSIB was constituted in 1954.
  • It provides advice to the government for all issues regarding small-scale industries.
  • SSIB operates in following sectors,
  1.  Policies and program.
  2.  Quality improvement  Credit facilities, modernization, industrial sickness.

2) KVIC- Khadi and Village Industries Commission

  • KVIC was constituted in 1956.
  • It was started to promote, plan, implement a program for the development Khadi and other village industries.
  • KVIC operates in following sectors,
  1.  It helps to create common service facilities for marketing of KVIC products.
  2. It helps to provide financial assistance to the people who are working in KVIC products.

3) SIDO- Small Industries Development Organization

  •  SIDO was constituted in 1954.
  • It acts as a nodal development agency for small industries and it functions under the ministry of SSI.
  • SIDO operates in following sectors,
  1. Conducts skill development programs.
  2. It helps to provide testing tools, facilities for entrepreneurship.
  3. It provides full subsidy on space rent and shipment exhibits of SSI units.

4) NSIC – National Small Industries Corporation Limited

  • NSIC was constituted in 1955.
  • It aims to promote faster growth of SSIs in the country.
  • NSIC operates in following sectors,
  1. It helps to supply indigenous and imported machinery in financial basis.
  2. It provides 100% finance to technology advancements in the field of SSI.
  3. Helps to provide fair margin in marketing and helps to provide advertising for SSI.

5) NSTEDB – National Science Technology Entrepreneurship Development Board

  • NSTEDB was constituted in 1982.
  • It aims to promote high-end entrepreneurship for science and technology.
  • NSTEDB operates in following sectors,
  1. Training programs, information dissemination.

6) NPC- National Productivity Council

  1. NPC is autonomous institution under the guidance of ministry of industry.
  2. It acts catalyst in enhancing the productivity of all sectors of the economy- agriculture and industry.
  3. NPC  is active in the field of consultancy and training.

7) NISIET- National Institute of Small Industry Extension and Training

  •  It was constituted in 1950.
  • It aims at research, consultancy for small industry development.
  • It helps to conduct training for entrepreneurs, managers and various development functionaries of state government.

8) IIE- Indian Institute of Entrepreneurship

  • It was constituted in 1993.
  • It helps to organize and conduct training for entrepreneurs.
  • It helps to promote entrepreneurship.
  • It helps to conduct workshops, the training program for entrepreneurship development.

9) EDII -Entrepreneurship Development Institute of India

  • It was constituted in 1983.
  • It helps to promote micro-enterprises at the rural level.
  • It helps to organize training program.
  • It helps to promote self-employment.

Disclaimer– The content provided here is not copied from any institutional textbooks or lecture notes. You can check copyscape.com to ensure unique content. “management and entrepreneurship for engineers“.

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