INDUSTRIAL MANAGEMENT (V Semester ... - …
Transcript of INDUSTRIAL MANAGEMENT (V Semester ... - …
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MECHANICAL ENGINEERING - 15ME51T
Department of Collegiate and Technical Education
UNIT I : BASICS OF MANAGEMENT
SESSION 4: Cooperative Society , Advantages and disadvantages
Functions of Management
INDUSTRIAL MANAGEMENT (V Semester)
MECHANICAL ENGINEERING
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Business Organisation Forms (Types)
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1. Sole Trader Or Proprietorship Or
individual ownership
2. Partnership
3. Joint stock companies
i. Private Limited Company (Ltd)
ii.Public Limited Company (Plc)
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Business Organisation Forms (Types)
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4. Co-operatives
5. Joint Hindu Family firm
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Overview
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• Cooperative Society ,
• Advantages and
disadvantages and
• Functions of ManagementMECHANICAL ENGINEERING - 15ME51T
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Cooperative society• Previous types of organisations have profit making as the
major motive• Cooperative societies try to reduce inequality of wealth• Co-operative society is an association of individuals formed
for the purpose of obtaining goods, especially, the articles of daily use at rates lower than that of market.
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Cooperative society• It is a voluntary association that started with the aim of the
service of its members. • Individuals belonging to the same class join their hands for the
promotion of their common goals• These are generally formed by poor people or weaker
sections of people in society
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“all for each and each for all”.
Cooperation work
with the feeling of
helping others
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Characteristics of Cooperative Society• voluntary association• Separate Legal entity• Democratic Management• Service Motive• Utilization of Surplus
• Cash trading• Government control• Fixed rate of return
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Cooperative society - Objectives• It is a voluntary organisation. • There is no limit to its membership.
(Face value of shares is kept small to encourage membership)
• Its management is based on democratic basis of equality. (one person one vote, not one share one vote)
• Its object is to serve the members and instead of maximizing the profit.8MECHANICAL ENGINEERING - 15ME51T
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Cooperative society - Types
• Producers' or Manufacturers’ co-operative society.
• Consumers' co-operative society.
• Housing co-operative society.
• Co-operative farming.• Co-operative credit society.
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Cooperative society - AdvantagesC It sells the products cheaper as advertisement and publicity
is not needed.C Less expense on accounting – Honorary service from
membersC It offers to its employees better wages and reasonable
conditions of service.
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Cooperative society - AdvantagesC There is no question of profiteering, hoarding and black
marketing C It tries to equalise money distribution:C It benefits general public.C It promotes a sense of co-operation among the members.
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Cooperative society - DisadvantagesD Capacity to raise capital is limited.
D Due to limited financial resources services of
highly qualified persons cannot be utilized.
D Mostly inefficient management and sometimes
found that management is inexperienced and
corrupt.
D Members usually try to make undue advantage.
D It requires better and strict supervision.
D There are chances of excess officialization.12MECHANICAL ENGINEERING - 15ME51T
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Joint Stock v/s Partnership
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Joint Stock company Partnership1 Has separate legal entity No separate legal existence4 Business as per the MOU Business as per the will of partners5 Liability is limited Liability is unlimited6 Property of the firm belongs to
companyBelongs to partners
7 Management by board of directors
Management by the partners
9 Death or retirement of any share holder will not affect company
Death or retirement of a partner may adversely affect
10 Large capital can be collected Only small capital can be collectedMECHANICAL ENGINEERING - 15ME51T
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Cooperative Society v/s Joint Stock
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Cooperative society Joint stock company1 Basic objective Service Profit making2 Membership Limited to specific group Open to all3 Minimum
membersTen Private limited 2
Public limited 74 Shares Not transferable Transferable5 Voting right One man one vote One share one vote6 Privileges Exemption from stamp duty
and cheaper financeNo such benefits
7 Disposal of profit
as bonus or used for welfare of members
Divided without limit as dividendMECHANICAL ENGINEERING - 15ME51T
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Functions of ManagementFrom functional view, an effective is
Management is the process of planning, organising, directing and controlling activities of and using resources of an organisation for accomplishing the goals efficiently and effectively in ever changing environment.
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Definition?
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Functions of Management1. Forecasting 2. Planning 3. Organizing 4. Directing 5. Motivating 6. Coordinating 7. Controlling 8. Communication 9. Leadership 10. Decision Making 16MECHANICAL ENGINEERING - 15ME51T
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Planning
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• In an industrial situation, questions
like what is to be produced, when
is to be produced, where is to be
produced, how and how much is
to be produced are asked.
• Systematically answering these
questions involve planning MECHANICAL ENGINEERING - 15ME51T
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Planning• Planning is the process of establishing
goals
– Setting the 'right' goals
– choosing the 'right' means
• Deciding suitable courses of action for
achieving those goals.
• Making proper resource allocations
(men, materials and machines. 18MECHANICAL ENGINEERING - 15ME51T
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Objectives planning1. To adjust for changes and
uncertainties2. To forecast the future action3. To utilize the resources effectively4. To avoid bottlenecks in production5. To take correct decisions
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ORGANISING• Making men, machine and materials available• Defining relationships
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Organising is that part of managing that
involves establishing an intentional
structure of role for people to fill in an
organisation. Intentional means to assign
the tasks, to accomplish the goals, and to
the people who can do their best.MECHANICAL ENGINEERING - 15ME51T
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Steps in Organizing• Determination of objectives • Identification and grouping of activities • Assignment of duties • Developing Authority – responsibility relationships
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• Cooperative Society ,
• Advantages and disadvantages
• Functions of Management
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