Management Theory Review

Management Theory Review 1

Available: MBA management theory revision notes by Narayana as K.V.S.S. It really is a process of designing and maintaining an environment in which individuals, working in groups together, efficiently accomplish selected aims. Effectiveness: Accomplishment of selected aims. Efficiency: Accomplishment of goals with the least amount of resources. Management is the process of keeping and developing the surroundings.

Planning requires selecting missions, and goals as well as the activities to attain them. Planning involves decision making. The decisions require commitment of resources – materials and individual. Planning identifies and prescribes actions to attain the objectives of the business. These actions have to be put into tasks that may be achieved by equipment and man combinations.

Staffing involves filling up, and keeping packed, the positions in the business. This is done by determining labor force requirements, inventorying the folks available, and recruiting, selecting, placing, promoting, appraising, planning the careers of, compensating, and training or developing recruits and job holders otherwise. Leading is influencing people so that they will donate to organizational and group goals.

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Leadership is the interpersonal aspect of managing. People have a tendency to follow those who offer a method of fulfilling their own needs, desires, and wishes. Leading involves concepts and processes of motivation, leadership styles, and communication. Controlling is watching and correcting activities to make sure that they follow designed processes and measuring and correcting individual and organizational performance to ensure that events conform to programs. All Managers perform all managerial functions.

Top level managers spend additional time on planning and organizing and immediate and control middle mangers. Middle managers take a more active role in staffing and immediate and control supervisors or first-level managers. First-level managers spend additional time in directing and managing the activities of front-series employees who actually produce products or services.

Problem solving skills (Solving challenges that appear periodically by analyzing the problem and synthesizing the answer. The writers suggested a construction called tactical canvas. Three Alternatives Approaches for Decision Making: Experience, Experimentation, Analysis, and Research using Mathematical and Simulation Models. The invention is a technical achievement. Innovation is a business achievement.

Innovations are done by business managers. For Innovation managers have to comprehend the needs of the clients and then use existing specialized alternatives to develop a new solution. Managers can fund a considerable research and development solution as a part of the innovation project. Henri Fayol said organization involves decisions regarding material organization and human organization. Management theory has not developed sufficiently in material business.

There will be opportunities of reengineering through the life of a business. Reengineering emphasizes the deep knowledge of the capabilities of a fresh technology and redesigning the procedures of a business to make the best use of the new technology. A group of people connected through it. Independent companies of suppliers, customers can also form a digital network of organizations. The technological possibilities are exciting, but how do we manage people we never see? This is a topic that requires development.

Jack Welch, CEO of General Electric mentioned this basic idea. He wanted GE to be boundaryless organization. It is a global business. A basic idea can generate in any device of GE. It could be sold to the global market. Mixing Types of Departmentation: The first degree of departmentation can be on one basis and sections within departments can be structured on the different basis. Decentralization of Authority: AUTHORITIES – Different powers by the constitution.

Make everyone understands authority romantic relationships. Make line listen to staff when specialist studies were done by personnel and advice is given. Keep staff informed of the developments in the business. Require Complete Staff Work: Staff must give a recommendation that is complete and implementable. Making personnel work acceptable and useful. Avoid issue in business through clarification of functions, authority, and confirming relationships.