MANAGMENT PRINCIPLES

Key Management Principles Concepts & Theories

Abstract

In this study we try to explore the concept of “Key Management Principles Concepts & Theories” in a holistic context. The main focus of the research is on “Key Management Principles Concepts & Theories” and its relation with “Management Principles”. The research also analyzes many aspects of “Key Management Principles Concepts & Theories” and tries to gauge its effect on “Management Principles”. Finally the research describes various factors which are responsible for “Key Management Principles Concepts & Theories” and tries to describe the overall effect of “Key Management Principles Concepts & Theories” on “Management Principles”.

Key Management Principles Concepts & Theories

Management Overview

The functions of a manager have remained relatively unchanged over time. A Manager have always had to develop strategy, plan business activities, organize business functions, control processes, and develop people all in a manner that successfully drive businesses. However, what has changed over a period of time is how managers have viewed and executed these functions (Hill & McShane, 2008). In addition, the tasks faced by managers have also changed as technologies and business conditions have evolved.

Hi-tech innovation's can play a significant role in formulating company's performance. Company decides to pursue innovative methods may depend on available resources plus competition in the business arena. From a strategic point of view, companies can assign to a high level of innovation in order to discourage new competitors from entering the business.

Global Markets Effects

Corporate Governance Systems

Increase in competition from Globalization is a common phenomenon but its effects also expand the marketplace. In contrast to these observations, expanding markets and increased competition can also strain corporate governance systems that have become familiarized to a smaller sale of business. Corporate governance systems is different in some countries, especially those settings where the national governments control competition or are heavily invested in large corporations in those countries. As companies in those countries where the economy is strictly market-oriented may be able to accomplish greater degrees of effectiveness and thus be more competitive over other companies in operations where national government ownership or power of companies hinders financial performance, competition with these foreign firms will significantly crash firms.

Structure of Organization

Globalization of opposition and of markets may also incite firms to produce more de-centralized management and control structures. The consequence of this will end up in a network like structures where middle management functions may not be able to meet the requirements of local operations. This could make some redundancy in operational departments in order to meet up with the local needs as well as maintaining a central headquarters or a primary location for company operations. To a certain extent, the company's business units located in other countries can turn into highly self-sufficient for centralized control.

Traditionally commercial structures have fluctuated from highly centralized control structures to strong independence at the division level. Globalization has provided many positive outcomes to bring changes in these structures but it is important to recognize that the level of control faces fluctuations that corporate headquarters has over business ...