Organisations have a variety of goals. They usually direct their energies and resources to achieve these goals. An organisation possesses human as well as non human resources that are put to use in the service of specific goals. Management is that force that unifies these resources. Without management acting as a unifying force, it is not possible to convert resources into useful products. Management is defined in different words by different theorists. According to Harold koontz, management is the art of getting things done through and with people in formally organised groups. According to Henry Fayol, to manage is to forecast and plan to organise, to command, to coordinate and to control. According F.W.Taylor, Management is the art of knowing what you want to do in the best and cheapest way. Hence, it has been described in different ways as a process, as a discipline, as art and science of decision making and leadership, as an art of increasing productivity, as integration of efforts etc. Why study management theories?
Theories are perspectives with which people make sense of their world experiences. Formally, a theory is a coherent group of assumptions put forth to explain the relationship between two or more observable facts. John Clancy calls such perspectives “invisible powers” to emphasize several crucial theories , the “unseen” ways in which we approach our world. First, theories provide a stable focus for understanding what we experience. A theory provides criteria for determining what is relevant. Second, theories enable us to communicate efficiently and thus move into more and more complex relationships with other people. Third, theories make it possible-indeed, challenge us-to keep learning about our world. Not everything can be covered in any one theory. We better our ourselves if there are alternative ways of looking at the world and to consider the consequences of adopting alternative beliefs. Scientific Management:- It...
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