Management Science PDF
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MANAGEMENT SCIENCE MANAGEMENT SCIENCE A Ramachandra Aryasri Professor Centre for Management Studies Jawaharlal Nehru Technological University Hyderabad © 2003, Tata McGraw-Hill Publishing Company Limited No part of this publication can be reproduced in any form or by any means, without the prior written permission of the publishers. This edition can be exported from India only by the publishers, Tata McGraw-Hill Publishing Company Limited ISBN 0-07-043610-X Published by Tata McGraw-Hill Publishing Company Limited, 7 West Patel Nagar, New Delhi 110 008, typeset in Times Roman at Gopsons, e-p Division, Noida, and printed at Sai Printo Pack Pvt. Ltd., GA-70, Pul Prahlad Pur (Near Badarpur) New Delhi 110 044 Cover: Mudrak RADLCRDARZQYB Dedicated to The Living Gods MMMMMyyyyy PPPPPaaaaarrrrreeeeennnnntttttsssss FOREWORD ‘Management’ means many things to many people. To me, management is transparency in institution building and taking care of people in the organisation. These are the basic things that govern all complex tasks such as achievement, motivation of people, generation of resources, growth and expansion of institu- tions, and so on. The phenomenal growth of this university in the recent years stands testimony to this. A university can remain competitive if its faculty and the students are motivated to imbibe lofty ideals and maintain the high academic standards. ‘Management’ is important to the institutions and to the students as well. Knowledge of management principles and contemporary management practices gives every one a fine touch for one’s own style of getting things done in this direction. The subject of management science is being taught in the engineering curriculum with this conviction. At least in the last three decades, Manage- ment has been one of the compulsory subjects in the engineering curriculum. I congratulate Dr Aryasri, my colleague in the university, on writing this book according to the syllabus of this university. I find this book a good addition to the existing titles on Management. I am sure this will be a good source of information to the management students in general and engineering students of this university in particular. The book is written in an ‘easy to understand’ style and the contents are relatively exhaustive. I wish Dr Aryasri many more academic achievements in the years to come. I wish him the best of luck. Dr Y Venkatarami Reddy Vice-Chancellor Jawaharlal Nehru Technological University Hyderabad 25.7.2001 vii PREFACE Management is an evergreen field expanding boundlessly. It has been the area of interest for many and, of late, more to engineering students. With the growing number of multinationals operating in India and Indian companies turning multinationals, the opportunities for the present generation are vast. An engineer with a management background is in demand all over. He is the professional most sought after as he is the embodiment of right mix of the skills of rationality and decision making. That is why he is paid very well, in terms of salary, globally. Every one is a manager in one way or the other. We manage day-in and day-out to achieve our personal goals. The same management skills are applied in the organisational context to achieve organisational goals. In this process, it is necessary to coordinate men, materials, money, and machines against the back- ground of several controllable and non-controllable factors such as technology, competition, and so on. This makes management a complex job and the primary key for such a complex job lies in careful under- standing of the basic concepts of management. This book has 19 chapters. Chapters 1 to 5 give a brief introduction to the Concepts, Functions, and Evolution of Management; Organisation Structure; and Managerial Objectives. Chapters 6 to 8 explain the basic concepts and the process of Corporate Planning, Environmental Analysis including SWOT Analysis, and Strategy Formulation and Implementation. Chapters 9 and 10 deal with Plant Location and Layout, and Statistical Quality Control respectively. Chapters 11 to 13 are devoted to the concepts of Human Resource Management and Functions of a Human Resource Manager. Chapters 14 to 17 deal with Materials Management, Productivity and Production, Work Study, and Introduction to Marketing respectively. Chapters 18 and 19 cover the concepts of Project Management with particular reference to Programme Evaluation Review Technique (PERT) / Critical Path Method (CPM) and Project Crashing respectively. One annexure at the end of the Chapter 10 and two at the end of Chapter 17 have been added to provide a brief outline of the developments in quality control, including Total Quality Management (TQM), ISO 9000-2000 series and so on. I have great pleasure in placing this book before you. This has been written considering the academic requirements of engineering students, particularly those of JNTU B.Tech. Adequate care has been taken in identifying the most relevant and up-to-date information and presenting the same in a logical sequence and viii PREFACE ix lucid style. As a part of providing conceptual clarity, this book follows a new pedagogical approach by starting each chapter with learning objectives, providing ‘Situation Analysis’ (to facilitate an understanding of the theoretical concepts), exhibits (to present recent business developments/practices), figures, charts at the appropriate places in each chapter, chapter-end summary, and chapter-wise list of review questions, including objective questions. I am sure this book would be a good source of reference. One of the main objectives of writing this book is to suggest what can be taught under this syllabus and also make the same available from a single source. The managers of both public and private sectors who have no formal background in management also may find this book interesting to refer to. Finally, I take full responsibility for any mistake or error appearing in this book. I welcome suggestions and constructive criticism from the academic community. Any suggestion to enhance the utility of this book is most welcome and will be thankfully acknowledged. A Ramachandra Aryasri ACKNOWLEDGEMENTS Writing a book on Management has been my dream for a long time. I am very happy that this dream has now become a reality. I have many people to thank for this. First I would like to express my deep sense of gratitude to Prof Y Venkatarami Reddy, Vice-Chancellor, JNT University, for writing a foreword for this book. I also wish to thank Prof Ranga Rao, Registrar, JNT University, who inspired me to write a book, such as this, in view of the growing demand from a large number of students from the JNTU affiliated colleges. At the outset, I would like to thank all the authors of books on ‘management’, and journals and newspa- pers featuring special articles on management, as these provided the basic material for this book. I would like to thank my close associates: Dr Mohd Khalid Azam, Reader in Business Administration, Aligarh Muslim University; Dr A C S Kumar, Professor in Mechanical Engineering and Dr R Venkateswar Rao, Professor, Department of Humanities and Social Sciences, JNT University; and Mr Mukthar Sharfi, Lecturer in Mechanical Engineering, Trueman College, Illinois, USA, for offering constructive feedback at many a stage. This book is completed mostly during my foreign assignment at the Sultanate of Oman. I would like to place on record with thanks the valuable academic and infrastructural support extended by the Ministry of Social Affairs, Labour & Vocational Training and Dr El Mubarak Yousif Omar, Dean, Nizwa College of Technology, Sultanate of Oman. My deepest gratitude goes to Dr C S Venkata Ratnam, Dean, International Management Institute, New Delhi and Sri N P Ramasubba Rao, Former Director, Electronics and Radar Development Establishment (LRDE), Bangalore, for having spared their valuable time to write their impressions about this book. I would like extend a ‘special thank you’ to Tata McGraw-Hill’s (TMH), Dr N Subrahmanyam, and his team of editors, production personnel, designers, marketing specialists, and sales representatives who en- sured that, in a record time, this book got into the hands of students and faculty. It has been a pleasure, right from the beginning, to interact with Mr Biju Kumar, Mr Tapas Maji, Mr Raza Khan, and Mr Michael at TMH and I am very happy to say that I have been immensely inspired by their creative suggestions and constant encouragement throughout. I thank all my family members in general and my wife Kathyayani, my son Srikanth, and my daughter Kanthisri Priyanka in particular for bearing with my long hours of silence, particularly when this book was under preparation. I would like to thank Sri T R Chetty, my eldest brother-in-law who has been a great source of inspiration and encouragement. Finally, there were many others, like Sridhar, who took care of me directly and indirectly when I was writing this book. I am grateful to each of them. A Ramachandra Aryasri
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