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The entire process of management includes certain key management functions like planning, organizing, leading and controlling. Management is defined as a process which involves responsibility for economical and efficient planning & control of operations of an organization in the fulfillment of given objectives.
Scientific management attempts to have the maximum from methods, men, materials, machines and money. The main features of scientific management are: Minimize Wastage, Discards Traditional Management, Increases the Productivity of Employees, Importance to Specialization, etc.
The history of management thought can be grouped into three basic approaches: classical approach to management theory, behavioural approach to management theory and management science approach. Management has grown in leaps and bounds from a virtually trivial subject in the past centuries, to one of the most essential topics.
The Behavioral approach to management advanced due to the fact that the managers found that following the ideas of the classical approach failed to attain total efficiency and workplace harmony. The behavioral approach to management featured what the classical advocates neglected – the human factor. The behavioral approach to management featured individual behavior & group processes, and accepted the significance of behavioral processes at work. The behavioral approach has been divided into 2 branches: the Human relations approach and the behavioral science approach.
The study and use of management approaches in handling the affairs of the organization have transformed its nature. Numerous contributions in the field of management have altered its nature, for instance, from just a practice to science also. The nature of management can be explained as follows: Nature of Management Multidisciplinary: Management is basically multidisciplinary. …
Management is the art of getting things carried out by individuals in officially organized groups. According to McFarland, “Management is defined for conceptual, theoretical and analytical uses as that procedure whereby managers create, direct, preserve, and operate organisation by means of organized, coordinated co-operative human effort.” Features of Management The attributes of management are listed …
In accordance with empirical data at an aggregate level it has been debated that the tendency to internationalise corporate technological activity is higher among organizations coming from smaller countries and in less research-intensive industries. Nevertheless, more disaggregated proof on the patenting of the world’s largest companies indicates a far more complex image. First, the share …
The trend of technological life cycles is debated to be of great value in the growth and development of regional clusters. New ‘disruptive’ technologies may trigger the growth of new regional industrial clusters and/or create unique opportunities for further development of existing ones. Nevertheless, they may also lead to stagnation and decline of the latter. …
Not too long ago empirical research has centered on how abilities of new entering firms are essential for the development of industries over time. The overall performance of recent entrants definitely seems to be considerably affected by their pre-entry background. The general impression of the literature is that businesses founded by former employees of successful …
This report adds new findings to the knowledge based view of the firm, where the cross-learning capability of employee and organization performs an essential function in the determination of firms’ superior performances. Collective, non formal – informal, formal styles of learning contribute to shape the competitiveness of firms, particularly in the current knowledge-based marketplace, where …