MANAGEMENT

Foundations of Management

Executive Summary

As we all know that, with the rapid advancement of technologies, each day brings new ideas and innovations and, managers in each organization are adopting new ways and strategies in order to maintain their positions in the market. Managers are required to prove the special skills because of the competition around the market and, managers are combining their fundamental skills with business skills to overcome the challenging affects. There is the requirement of solid knowledge in the management which may lead to the foundation of management and provide good results within working business practices. There is the need to discuss the roles of management in order to understand the concepts which lead to the foundation of management. This paper is presenting ideas about the foundations of management and how managers are adopting techniques to produce good results. This paper is discussing the proper management approaches adopted by managers today.

Contents

Introduction4

Discussion4

Management Planning4

Planning Today5

Recent Examples5

Certain planning Strategies6

Organizing6

Team Management7

Recent Examples7

Competition8

Direction8

Controlling and Measuring9

Recent examples10

Conclusion10

References12

Foundations of Management

Introduction

There are general principles in each industry, which managers are adopting in order to prove their managerial skills. Several managers are providing key knowledge of management and playing positive roles in the business growth of the organization. There are certain skills which an individual should contain in order to be a good manager or a good manager for maintenance.

If we ignore the types of industries and, work in organizations, we may notice that all managers are doing equal sort of works and, share a common ground. Managers are dependent upon the four basic principles which may include planning, organizing, directing and controlling (Collings & Wood, 2009). Several books have been written in this regard about the management and responsibilities. We may find several books on the topic of foundation of management and other topics related to business management.

Discussion

Management Planning

Let us start with the planning phase and cover the recent business practices and, investigate how this phase is mostly adopted by the managers and at what levels. If I am the manager of the organization then, I should know that I have to start each thing with a proper planning (Rue et al, 2003, pp. 45-60). Each thing and work should be planned in order to get the good outcomes. If we put planning as the simple phase then, it is the process of understanding the schedule of the next days' work. It is like when we have to wake up, start a work, end a work and get results either good or bad. Finance managers are involved in the financial planning or creating a finance budget.

Planning Today

There are several types of planning stages but, most recently used today is the strategic planning because this planning involves the organization to develop a strategic, operational and financial planning at another (Kahraman, 2007, pp- 13-20). Let us understand with the concept of Robins et al as he clearly discusses the principles of management in today's era of competition. If we take an example such as; how planning plays ...