As Hamel and Breen (2007, p. 4) noted, the basic management principles seems to have evolved Snail’s pace when compared with tremendous changes occurred over the past decades in technology, lifestyles and geopolitics…
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This research paper explains what management is and examines basic management theories and definitions to compare and contrast each of them with others. This paper addresses management as an organizational function as well a topic for academic research and study. Management Managing is an extremely important and perhaps one of the most challenging activities in today’s complex society and especially in the contemporary business contexts. Various factors and forces such as globalization, competition, quality-concerns of customers about goods and services, changes in consumer requirements etc make ‘managing’ a more challenging and rather highly rewarding task. Management is generally defined as an ‘art of getting things done through others’ (Dessler and Phillips, 2007, p. 4). This definition by Herold Koontz denotes to various underlying concepts of managing such as delegation of authority, planning for some things to be done and executing them through people and available resources and coordinating and controlling it. Management is an art, science, technique, method, process or strategy by which people work with others and available resources to help the organization reach its destination. Management is therefore a goal oriented process. As Bateman and Snell (2003) described, management is the process or practice by which people (managers) work with other people and resources in order to accomplish the already set goals of the organization both effectively and efficiently. To be efficient means to achieve goals and organizational objectives with minimal waste of resources by making best use of money, time, technology, materials and people, whereas effectiveness refers to achieving the right organizational goals at right time through right ways. Managers do things differently with effective strategies and techniques and by using the organized knowledge that in turn help them make their organizations unique and ultimately successful. The general management thought can be affected largely by demographic, geographic and social influences from business to business. However, management theories and definitions are still applicable to varying situations in firms around the world. In today’s complex business contexts, it is very evident that management is merely the process of managing the total resources of an organization. Herold Koontz’s definition talks about delegation of authority and making people work for getting in to the ultimate goals. It is thus related to how effectively managing both people and other resources. People are used by managers to get their things done through. They moreover effectively and efficiently utilize the available materials as well. When it comes to the management practices in place today, Bateman and Snell (2003) argued that no manager is always right or always wrong, but some managers are getting it in to the right path more often than some other managers are doing (p. 6). Views of Fayol and Mintzberg In management study, the views of Henry Fayol and Henry Minzberg have gained considerable attention as their studies and findings have explored management as a function and role that managers do. Henry Fayol, famously renowned as father of modern management, defined management as “to forecast and plan, to organize, to command, to coordinate and to control” (Cole, 2004, p. 6). He asserted that management was characterized by five specific functions; that are planning, organizing, commanding,
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The central theme in this book is that management is not how we have always thought it to be. This is to say that our definition of management is wrong. The book offers classical examples about management that are set to change the mind of the reader. The management is a curious phenomenon which is enormously influential, generously paid.
Fayol was the first to swear that all business purposes, irrespective of the field, have common activities to be performed, which eventually came to be known as Henry Fayol’s 14 principles of management. Conventional management theories and practices have not acquired a different look in management texts and hence in management research studies; however, the validity of these differences between conventional and contemporary management concepts is still far from what is shown or seen.
However, the extent to which Fayol is still relevant in modern management is a much disputed topic. Many believe that his contributions, although at one time relevant, have long since become obsolete with the changing nature of business and the world. Others argue that because of the basic and simple premises of his functions of management, even though the economy has drastically changed, Fayol continues to retain a great deal of relevance on the topic.
For example, it will now be easier to target the high-value customers and those who are long term customers. According to Freytag and Clarke (2001) the behavioral approach segments buyers on the basis of their knowledge, use, loyalty and attitude towards the product.
Concluding these studies pursued through different approaches, many scholars have come up with varying opinions and theories regarding the working dynamics of management. This report reviews the notable views of three different management theorists, Robert L.
(Fells) Planning is the starting process of every management task. The manager must have clear strategies for the successful execution of the project. He should have planned alternate options in case of failure of
non or a concept that can be precisely defined or theorized because, not only leadership has been explained and defined in different ways, the way leaders have been emerging in different situations has also been changing continuously time. In contemporary times, we tend to
The application of scientific theories of management was invented by Frederick Taylor and Henri Fayol in late 1800s to improve the management of business organizations. Under the management strategy, the
As a business develops, it experiences complexities which pose challenges on management. Management plays a critical role of coordinating different organizational functions so as to realize the objectives of the organization. Henri Fayol attributes the success of management to personal attributes rather than a set of applied management principles.
The author incorporated the work of all researchers by studying management literature rather than primary study. He came up with ten elements of managerial work which include: figurehead, liaison, monitor, resource allocator, disturbance handler, negotiator, innovator, planning, controlling and directing.
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