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Management: Concept and theory

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  1. Introduction
  2. What is management?
    1. Groups of people
    2. Goals and activities of a group
    3. Group performance
  3. Definition
  4. Management: A science or an art?
  5. Importance of management
  6. The tasks of management
    1. Purpose and mission
    2. Productive work and worker achievement
    3. Social impacts and social responsibilities
  7. Contribution of Taylor and Henri Fayol
  8. Conclusion
  9. Bibliography

Management-concept and theory introduces one to the concept of management, its meaning, its purpose, the idea behind managing people, goals & activities of a group. It also talks about the importance of management, and the tasks of management. The principles of management by management scientists F.W.Taylor and Henri Fayol are also discussed.

Management is the practice of managing people in groups. Managing groups of people is essential, as individuals find it difficult to operate as a group. Operating in groups becomes essential as organizations grow larger and work tasks increase in volume.

Goals and activities of a group are dependent on the utilization of material, machines and methods. Goals and activities may vary according to the targets of a group. A group focused on sales will be less concerned or involved with machines, work shifts or material management as compared to a group involved with production. A sales group will be more involved with sales, inventory management, market mechanisms and customer satisfaction.

[...] A sales group will be more involved with sales, inventory management, market mechanisms and customer satisfaction. Group Performance Managers are responsible for the performance of a group. Their individual performance is evaluated based on the performance of the group. Non- performing individuals are a liability for any group and management. Management always tries to keep the group productive and performing at optimum levels. Definition Management can be defined as an undertaking involving forecasting, planning, organizing, staffing, directing, coordinating & controlling. [...]

[...] It can justify its existence and its authority only by the economic results. A business management has failed, if it fails to produce economic results. It has failed, if it does not improve, or at least maintain, the wealth producing capacity of the economic resources entrusted to it. Every act, every decision, every deliberation of management, economic performance should be the first dimension, the first challenge. Productive Work and Worker Achievement The second task of management is to make work productive & the worker achieving. [...]

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