MANAGEMENT THEORY

Management Theory

Management Theory

Management in all business activities and organization are acts of bringing people together to achieve desired goals and objectives efficiently and effectively. Management comprises planning, organizing, staffing, leading or directing and controlling an organization (the group of one or more persons or entities) or effort to achieve the goal. Includes deployment of resources and manipulation of human resources, financial resources, technological resources, and natural resources.

Since organizations can be seen as management systems can also be defined as human activity, including design, to facilitate production of useful results in the system. This view opens possibility to "manage" itself, the pre-requisite for attempting to lead others.

Verb manage comes from Italian maneggiare (to handle - especially tools), which in turn derives from Latin manus (hand). French word mesnagement (later menagement) influenced development in sense of English in management of ages 17 and 18. Some definitions of management are:

• Organization and coordination of activities of the company, according to certain policies and achievement of clearly defined objectives. Management is often included as the factor of production along with machines, materials and money. According to management guru Peter Drucker (1909-2005), basic task management system is twofold: marketing and innovation.

• Directors and managers have power and responsibility to make decisions to run the business. As the discipline, management includes functions of interlocking corporate policy and organizing, planning, control and direct company resources to achieve policy objectives. size of management can vary from one person in the small business hundreds or thousands of managers in multinational companies. In large companies board formulates policy being carried out by executive director.

At first, one thinks of functional management as act of measuring the quantity on the regular basis and adjusting some initial plan, or as measures to reach its target. This applies even in situations where planning does not occur. From this perspective, Frenchman Henri Fayol (1841 -1925) considers that management consists of six functions: forecasting, planning, organization, control, coordination, control. It was one of most influential contributors to modern concepts of management.

Another way of thinking, Mary Parker Follett (1868-1933), who wrote about it in twentieth century, defined management as “art of doing things through people." She is described as management philosophy.

Some people, however, we find this definition, while useful, too narrow. Phrase "management is what managers do" occurs widely which suggests difficulty of defining management, changing nature of definitions, and connection of managerial practices with existence of the managerial or class.

THE habit of thinking in management as equivalent to "business administration" and thus excludes management in places outside commerce, as for example in charities and public sector. More realistically, however, each organization must manage their work, people, processes, technology, etc. in order to maximize efficiency. However, many people refer to university departments which teach management as "business schools." Some institutions (such as Harvard Business School) use that name, while others (such as Yale School of Management) employ more inclusive term "management."

English speakers can also use term "management" or "management" as the collective word describing ...