Management Theories
ABSTRACT
Management is the most important part of any organization. No organization can achieve its objectives without proper management. So management is considered the hub of any organization. As society continuously relied on group effort, and as many organized groups have become large, the task of managers has been increasing in importance and complexity. To meet the challenges like competition, efficient and economical uses of sources and maximum output, knowledge of management and theories of management is basic requirement. Henceforth, managerial theory has become crucial in the way managers manage complex organizations.
This article will provide the basic information of main management theories and how they have developed. It also addresses the management objectives, functions, goals, and essentiality as well as the requirement skills of a Manger.
Relating to my current company – AON Vietnam, member of AON Corporation, the article point out which theory of management fit best with the style of management in AON Corporation, one of biggest insurance brokers worldwide and what a Manager at AON should do.
(Topic 1 & 2)
CONTENTS
I. MAIN MANAGEMENT THEORIES
1. Definition of Management
According to Drucker (1974) Management is “the activity of getting things done with the help of others peoples and resources”. It means that management is a process of accomplishing work with the help of other people. According to Weijrich and Koontz (1993) “Management is process of planning, leading, organizing and controlling people within a group in order to achieve goals. It is also the guidance and control of action required to execute a program. It indicates that there should be definite plan/program for affective management (Shied, 2010).
On the basis of these definitions it can be concluded that management is a process that includes strategic planning, setting objectives,
Management is the most important part of any organization. No organization can achieve its objectives without proper management. So management is considered the hub of any organization. As society continuously relied on group effort, and as many organized groups have become large, the task of managers has been increasing in importance and complexity. To meet the challenges like competition, efficient and economical uses of sources and maximum output, knowledge of management and theories of management is basic requirement. Henceforth, managerial theory has become crucial in the way managers manage complex organizations.
This article will provide the basic information of main management theories and how they have developed. It also addresses the management objectives, functions, goals, and essentiality as well as the requirement skills of a Manger.
Relating to my current company – AON Vietnam, member of AON Corporation, the article point out which theory of management fit best with the style of management in AON Corporation, one of biggest insurance brokers worldwide and what a Manager at AON should do.
(Topic 1 & 2)
CONTENTS
I. MAIN MANAGEMENT THEORIES
1. Definition of Management
According to Drucker (1974) Management is “the activity of getting things done with the help of others peoples and resources”. It means that management is a process of accomplishing work with the help of other people. According to Weijrich and Koontz (1993) “Management is process of planning, leading, organizing and controlling people within a group in order to achieve goals. It is also the guidance and control of action required to execute a program. It indicates that there should be definite plan/program for affective management (Shied, 2010).
On the basis of these definitions it can be concluded that management is a process that includes strategic planning, setting objectives,