Business in today’s world has become an extremely competitive force changing continuously at a rapid rate. Working in the 21st century requires dealing with a dynamic environment with people that have diverse needs. Every business organisation needs to be managed, and hence there is a need for managers. Even years back there was a diverse need for management of organisations. There have been people who have tried to study management so as to make the most efficient and effective use of their resources. There have been scientific methods, and similarly there have been methods based on people’s behavior. Organisations nowadays use these methods in their business management.
Harold Koontz and Heinz Weihrich refer to management as the process of designing and maintaining an environment in which individuals, working together in groups, efficiently accomplish selected aims. Management has been referred to as an art and a science, some people even call it a profession. With the different levels within the organisation, management becomes a difficult process. Top management, middle management and operational management have to work together in order for the organisation to be efficient and effective. Hence co-ordination can be considered as the essence of management. Planning, organizing, staffing, directing and controlling are the key functions of management that work together to fulfill the organisational, social and personal objectives.
Management has been divided into two schools, Scientific School of Management and Behaviorist School of Management. The main objective of Scientific Management is to increase the economic efficiency. The core of Scientific Management was developed by Frederick Winslow Taylor.… Read the rest