Management Techniques - Research Paper Example

Comments (0) Cite this document
Management Techniques Introduction The systematic study of various management operations has been in practice for over a century. Earlier, management techniques were centered on the need of establishing a set of core principles to increase workplace efficiency…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER97.8% of users find it useful
Management Techniques
Read TextPreview

Extract of sample "Management Techniques"

Download file to see previous pages Hence, today’s managers adopt a contingency perspective to analyze the probable causes of a problem or situation and thereby recognize the most appropriate application. The ultimate objective of every management technique is to enhance planning, organizing, directing, and controlling functions of the management. In addition, the competitiveness of a management approach can have a significant influence on the organization’s productivity, profitability, and long term sustainability. An organization’s culture and long term objectives have vital roles in designing its management technique. A potential management approach would assist the organization to obtain a range of competitive capabilities over its market rivals. This paper will discuss various management techniques and identify where each technique would be most appropriate. The paper will also address why each technique is effective and how choosing one of the discussed management techniques can help a fledgling manager. Budgeting Budgeting is a management technique used by organizations to effectively plan their use of funds throughout the following fiscal year. The history of annual budgeting can be dated back to early 18th century. A budget is secured by managing product, sales, expenses, and profit which are within the capacity of the business. A budget expresses an organization’s financial policy. A well prepared budget can forecasts the firm’s production, sales, stocks for the next accounting period. In addition to managing financial aspects, budgeting practice can fuel a spirit of cooperation among departmental heads and coordinate various manufacturing departmental activities. As stated in the book The cost accounting function, budgeting “aims to reduce to an economic minimum the effects of seasonal fluctuations in sales on production programs” (243). The budgeting practice will help a firm to equal the business needs to the available finance so that the firm’s anticipated financial needs during the term of the plan would be met effectively. A budget sets specific targets for employees and managers and hence it is easy to achieve planned organizational goals for the budget period. Moreover, budgeting assists to evaluate employee performance which in turn would benefit the organization to identify its internal management strengths and weaknesses. Effective budget planning and budgetary control would assist the company to cut down operational costs, to avoid crises, and to improve team spirit among employees. The budgeting management approach is always appropriate (or vital) for every business organization regardless of the firm’s nature, size, business, and industry sector. Cost accounting Cost accounting is another potential management technique where the expenditure is classified, recorded, and allocated properly for the purpose of determining the costs of products or services. Although Luca Pacioli, father of accounting, did not actually propose the practice of cost accounting, the cost accounting technique emerged from his ideas. Cost accounting is defined by NAA as “a systematic set of procedures for recording and reporting measurements of the cost of manufacturing goods and performing services in the aggregate and in detail” (as qtd in Shim and Siegel 2). Under this management technique, different methods including historical costing, standard costing, and marginal ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Management Techniques Research Paper Example | Topics and Well Written Essays - 2500 words”, n.d.)
Retrieved from
(Management Techniques Research Paper Example | Topics and Well Written Essays - 2500 Words)
“Management Techniques Research Paper Example | Topics and Well Written Essays - 2500 Words”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Management Techniques

Knowledge Management Techniques

...? ‘Knowledge Management Techniques.’ Question What is Knowledge Management? Question 1(a): Briefly evaluate EACH of the definitions listed above for its usefulness to knowledge management. You should consider such issues as: does it assume a particular view of knowledge? Is it more relevant to practice, or to theory? Is it relevant to a specific field (such as business) or more generally applicable? What do you think are the most useful aspects of the definition, and why? Answer 1(a): The textual narration regarding the evaluation of each of the following definitions (as per the given guidelines) may well be narrated as follows, Definition 1: “The tools,...
12 Pages(3000 words)Essay

Knowledge Management Techniques

...?Knowledge Management Techniques Inserts His/ Her Inserts Grade Inserts (04, 05, KNOWLEDGE MANAGEMENT SOLUTIONS INTRODUCTION This paper provides management solutions to two case studies. Information presented will identify knowledge preparedness and gaps in the organization and recommend knowledge solutions depending on the knowledge needs of the organization. Knowledge management refers to the process of delivering relevant information to the correct people with an aim of improving an organizations program through sharing information. Knowledge management represents meaningful information that aid in retrieving, communicating and...
13 Pages(3250 words)Essay

Total Quality Management Techniques

...? Running head: TOTAL QUALITY MANAGEMENT Total Quality Management al Affiliation Summarize the article highlighting the issues explained. Nagaprasad & Yogesha ‘s (2009) article ‘Enrichment of Customer Satisfaction Through Total Quality Management Techniques’ suggests that manufacturing players were in a position to sell all that they manufactured. Moreover, enterprises were not way about the quality of service they delivered. However, the authors note that this has drastically changed as organizations have become increasingly adaptive in offering both tangible products and services that are globally competitive through TQM techniques. The latter enhance...
4 Pages(1000 words)Essay

Operations management techniques

...?Running head: OPERATIONS MANAGEMENT TECHNIQUES Operations management techniques Insert Insert Insert 24 May Outline Introduction Operations management The techniques of operations management The application of OM techniques in meeting customer’s needs and targets achievement Conclusion Operations management techniques Introduction Operations management techniques are vital in meeting organizational consumer needs, as well as meeting of organizational set goals. Operations management is among the three vital...
5 Pages(1250 words)Essay

Project Management Techniques

...?Project Management Techniques Review: Project management is being increasingly discussed in the literature and the concepts gained therein are beingapplied in the work, to achieve success in the projects. A lot of books have conventionally been written on this subject owing to the growing importance of this subject in the present age. This book happens to be one of them. Most of the books are rich in the content related to practices in project management, functions of project management, criteria for success in a project, and potential sources of risks and opportunities in a typical project, though, a vast majority of the books commonly available in the...
2 Pages(500 words)Book Report/Review

Construction Management Techniques

...?Construction at Santiago Way Task a Contrasting to older bureaucratic structures, modern strategies for managements and administration of companies are tending more to apply scientific and psychological strategies to develop various work-plans while maintaining a healthy and comfortable work environment. Most of the developing countries, including U.K. and U.S.A. as leading figures, management and administration are now matters of organized work-plan that includes various techniques for avoiding human errors. Such techniques nowadays include method like Hierarchical Task Analysis (HTA) and Human Error Assessment and Reduction Technique (HEART). Unlike...
6 Pages(1500 words)Essay

Project Management Techniques

...?Project Management Techniques Introduction A project is “a temporary and unique work effort with a beginning and an end that creates a product, service, or result” (Furman, 2011, p. 1). The project necessitates the assembly of a team that is committed to work primarily towards the attainment of the specified goal, usually under the terms of a contract, and therefore the work effort is unique. The project is also finite and temporary because it has a beginning and end specified by date, thus distinguishing it from regular operations which is ongoing and without a deadline. Finally, the project is aimed at the attainment of a specific deliverable which is turned over to the customer at project’s end. This case is a project aimed... ...
9 Pages(2250 words)Essay

Business Management Techniques

...Business Management techniques TASK ONE ABC costing Solution Statement of new investment Operating cost of new asset/week £6500 Rate of production/hr 60units Direct material £22 Normal working hours per/day 8hrs A) Workings for 5 working days per week Statement of costing per unit £ Rate of production/day (60x8hrs) 480units Operating cost of new asset/ (6500/5) 1300 Direct material/day (22x8hrs) 176 Cost of production/unit(1300+176)/480 3.075 b) Workings for 7 working days per week Statement of costing per unit £ Rate of production/day (60x8hrs) 480units Operating cost of new asset/ (6500/5) 928.57 Direct material/day (22x8hrs... of costs that are irrelevant to the...
4 Pages(1000 words)Assignment

Management Techniques

...MANAGEMENT TECHNIQUES goes here] [Your goes here] [Due the paper] Management Techniques Before discussing some management techniques that most of the managers use to put their companies on the path of unending success, let us get a better understanding of the role of effective management in the success of companies in today’s competitive market. Effective management is the key for a company towards achievement of competitive advantage in any market. Managers of the companies spend a considerable amount of time thinking to apply the most effective...
4 Pages(1000 words)Research Paper

Identify time management techniques

...Time Management Techniques al Affiliation Time Management Techniques Based on the results of the Time Management and Goals Setting skills tests, the overall score was 50; which is indicative of one’s ability to manage time very effectively. As disclosed, despite the high score, one needs to focus on efforts and techniques which would assist in developing goal setting skills. One’s score under goal setting is 13 out of 20 or 65%. The proposed techniques included explicitly writing and accurately detailing the goals that need to be accomplished. Likewise, there are more positive ways of stating how goals...
2 Pages(500 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Research Paper on topic Management Techniques for FREE!

Contact Us