Management Thought

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Assignment on
Evolution of Management Thought

Principles of Management

Submitted to
Professor (Dr.) Abu Hossain Siddique
Department of International Business
University of Dhaka

Submitted by:
Mohammad Ali
ID # 80802073
2nd Batch

Department of International Business
University of Dhaka

July 18, 2010

Letter of Transmittal

July 18, 2010
Professor (Dr.) Abu Hossain Siddique
Department of International Business
University of Dhaka

Subject: Submission of Assignment.

Dear Sir:
Here is a report on “Evolution of Management Thought" which you have assigned me in order to give a clear concept. This report is also a partial requirement of “Principles of Management". In making this report a worthy one, I have tried my best to gather all relevant information to which I could gain access. I hope that it will meet my expected standard. I have enjoyed on this report. Especially the given class lecture helped me a lot and made the hard work easier for me. After analyzing various aspects of technology in business communication I am submitting this report for your kind consideration and thanking you for your constant assistance and guidance. I will be available for any classification of this report, whenever necessary. Thanking You,

Sincerely Yours,

____________
Mohammad Ali

Acknowledgement

A special debt is due to my respected teacher Mr. Abu Hossain Siddique, Professor Department of International Business, University of Dhaka for the valuable guidance in preparation of this report. Moreover I have been benefited from the help from many people in the evolution of this assignment. They have generously supplied insightful comments, helpful suggestions, and contributions all of which have progressively enhanced this assignment. The selection of case is always vital to successful study. In this report, my appreciation goes to the authority of university library authority from where I have got an enrich collection of books. I am also indebted to my seniors who have provided valuable suggestions. At last I would like to thanks the officials of the Department for helping me in this purpose.

Mohammad Ali
Dhaka ID #80802073
July 18, 2010 2nd Batch

INTRODUCTION
Management as practice has an almost unlimited history. Management as a formal study, in comparison to a practice began in the 1700s as part of the industrial revolution. Two events are especially significant to management history. First, in 1776, Adams Smith published The Wealth of Nations, in which he argued the economic advantages that organizations and society would gain from the division of labor (or job specialization). The second important event is the industrial revolution. Starting in the late eighteenth century when machine power was substituted for human power, it became more economical to manufacture goods in factories than at home. These large, efficient factories needed someone to forecast demand, ensure that enough material was on hand to make products, assign task to people, direct daily activities, and so fort. That “someone” was managers, and these managers would need formal theories to guide them in running these large organizations. It wasn’t until the early 1900s, however, that the first steps were taken toward developing such theories. The evolution of modern management thinking begins in the nineteenth century and flourished during the twentieth. EVOLUTION OF MANAGEMENT THOUGHT

Today's management theory is the result of the interdisciplinary efforts of many people. THE FOUNDERS
The beginning of the modern organization occurred primarily during the middle of the nineteenth century with the rise of the factory system, principally in the textile industry, where automation and mass production became the cornerstone of productivity. Management thinking, however, was slow to evolve during the century. The need existed to define what management was...
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