Share
Explore BrainMass

Business Management

The discipline of business management looks at the relationships between managers and employees andhow work is organized. In this sense, business management often overlaps with organizational behaviour.

The field of business management arose largely as the result of the work of Henri Fayol and Frederick W. Taylor in the mid twentieth century. Taylor is the author of the theory of scientific management. In its simplest form, the theory is the belief that there is "one best way" to do a job and scientific methods can be used to determine that "one best way." Taylor suggests that knowledge should replace tradition and intuition when making business decisions. As well, if there is one best way of doing things, it would have to be the responsibility of the manager for enforcing that work was done by this standard. Today, we see Taylor's influence in the prevalence of shared best practices across businesses and industries.

Around the same time, Fayol proposed that there were five primary functions of the business manager. We often see these five functions simplified to planning, organizing, leading and controlling. Since Fayol's seminal work, the study of business management has continued to be focused predominantly on the skills and resources managers need in order to carry out these functions as a manager successfully. Along with Taylor's ideas of shared best practices, business schools have focused significantly on how these skills can be developed and used most effectively. In their originality, the five functions of a business manager are:1

  1. Planning: setting the vision, mission, values, and strategy (or action) of the organization.
  2. Organizing: defining the lines of authority and the division of responsibility
  3. Coordinating: developing the timing and sequence of activities and making sure it all works (project management, for example)
  4. Commanding or directing: putting the plan into action - leadership skills are a must!
  5. Controlling: enforcing the rules, monitoring performance, and adjusting standards and plans as needed.

Forecasting is often added to the list as the first management function. There is also an important seventh function of management: the information function. According to Peter Drucker, "[successful business managers] need to learn to ask two questions: what information do I need to do my job? - and what information do I owe others so that they can do their job?" As a result, we recognize that managers play an important role in facilitating the manipulation, sharing, aggregating and presenting of useful information about the business and its environment across the organization.2

Today, business managers need a number of different skills in order to carry out management's function: decision-making skills, leadership skills, communication skills, the ability to manage diversity, networking skills, the ability to design and implement business policy, change management skills, and project management skills. This is not to limit the manager's toolkit to these skills alone. For example, the field of organizational behaviour also offers significant insight into the role of a business manager.

Important trends have also impacted this discipline. These trends date back to the G.I. Bill following World War II, which granted free education for veterans and set a strong foundation for American’s growth into knowledge-based industries. These trends include globalization, outsourcing, technology, ethics, diversity, and flattening organizational structures and the use of teams. For example, because of globalization, additional skills are also needed by the international business manager, such as understanding international business cultures. The study of business management is continuously evolving as a result of these trends, and significant attention is paid to how these trends are impacting the management field.

 

 

References:

1. Fayol, H. (1949), General and Industrial Management, Sir Isaac Pitman & Sons Ltd., London, (translated by Constance Storrs).
2. Bakewell, K. G. B. (1994). Information: The Seventh Management Function? Library Management. MCB University Press: Vol 15:3. p 28-33.
For a look at a Fayols work and a number of contemporary models of management (Hales, Kotter, Mintzberg), see also: Fells, M. (2000), Fayol stands the test of time: Journal of Management History, January 2000, 6(8), p. 345-360. 

 

Categories within Business Management

Leadership Skills

Postings: 1,662

The study of leadership includes leadership styles and leadership traits and attempts to identify those that make an effective leader.

Managing Diversity

Postings: 401

The study of managing diversity shows us that businesses today see an inclusive workplace as a cornerstone of sustainable competitive advantage.

Networking

Postings: 69

Networking is an important skill for managers for both business development (seeking new clients) and career-development.

Business Policy and Implementation

Postings: 691

Business policy looks at how job design, ethical guidelines and an organization's code of conduct can impact corporate culture and individual behavior within an organization.

Project Management

Postings: 2,105

The science of project management is the methodology behind successfully implementing a project in an organization, originally developed by the U.S. Department of Defence.

Business Communication

Postings: 718

Organizational and interpersonal communications are the foundation of every impression and every interaction within an organization.

Organizational Behaviour

Postings: 2,424

Organizational behavior is an interdisciplinary field of study that looks at the collection and analysis of primary research and the development of theories about how individuals behave within organizations. Organizational behavior models recognize that the behaviour of individuals within organizations is often different than the behaviour of the same individuals outside of a work environment.

Industrial and Organizational Psychology

Postings: 109

Industrial and organizational psychology concerns itself with research on the problems of morale and motivation, productivity and effectiveness, power and control, and leadership and change processes in large organizations.

International Business Management

Postings: 659

The study of international business management from a human-relations perspective looks to understand the challenges that international business managers face when working with diverse people from around the world. The most prominent problems in international business management include expatriate failure and international negotiation failure.

Multi-period news vendor model with capacity constraint.

A retail store stocks fashion clothing for different seasons. Each selling season lasts for 6 weeks and a single procurement order has to be placed with the manufacturer two months before the selling seasons starts. This designer jacket comes in four different colors. It is priced at Rs. 2100. The retailer buys the jacket from

Porter's Value Chain

1) Discuss the concepts of value, margin, and value chain as defined by Porter. 2) Describe the process by which organizations develop their information systems.

Effective Team Leadership

1) Describe the competencies needed by team members in order for the team to be successful and how they contribute to a team's success. Why is it important for team leaders to understand these competencies? 2) Define the necessary steps leaders should take to ensure effective meeting management for successful teams. Be sure

Porter's Competitive Advantage

Please research an organization and determine how their business strategy differentiates them from other organizations in the same industry using Porter's four competitive strategies model. A brief explanation of Porter's four competitive strategies. A brief explanation of how competitive strategy determines value chain structu

Compensation Plan Outline For PepsiCo

I need assistance with the evaluating the existing compensation plan for PepsiCo to determine if it is the most appropriate for your company and the rationale. Determining the most beneficial ratio of internally consistent and market consistent compensations systems for the company you selected. Evaluating the current pay struc

General Mills SWOT

1) What is your opinion on SYLVESTER'S ANSWERS to the Questions below? SYLVESTER'S ANSWERS The rivalry degree between competitors. The struggle for market control in this industry is relentless. All the leading and small companies struggle to retain or expand the market share they control. This clamor causes high rates o

The External Environment, Internal Profile, and SWOT

The External Environment, Internal Profile, and SWOT 1) Using ALEXANDER RIGSBY'S WK #1 ANSWERS. What is your opinion on WK #2 QUESTIONS below? WK #1 ALEXANDER RIGSBY'S ANSWERS In order to complete a SWOT, we are required to identify and analyze the key opportunities and threats in the external environment. Then, we ne

Non-profit status 501 (c) (3)

Can someone please provide some assistance with this question. Its for an MBA course and needs to be between 350 and 450 words or so. Please describe what the 501 (c) (3) designation means and tell why is it so popular? Thank you so much in advance for all your help. I really appreciate it.

IRS codes and Nonprofit Taxonomy of Exempt Entities (NTEE)

Can someone please provide some assistance with this question. Its for an MBA course. It needs to be between 550 and 650 words. Describe the difference between the Nonprofit Taxonomy of Exempt Entities (NTEE) codes and the 29 different categories of Section 501 (c) of the Internal Revenue Code (IRC). Why do we need the NTEE Cod

Cougars and Biodiversity

With habitat loss, less land and resources means lower carrying capacity. Choose cougars (mountain lions) large predators to investigate: 1. What size of land/water is required to support this animal? 2. What pressures threaten this organism's habitat? 3. What role does international trade and political regulation play in pr

Learning about applications of PEST, Porter's 5 , SWOT

This is for a threaded discussion- need only be a few paragraphs in length (2-3). See below for more details on topic: "As a business student you have likely spent some time learning about applications of PEST (and/or PESTEL), Porter's 5 forces, and SWOT analysis over the years. These are useful tools for understanding the

Value of homeless shelter

Can someone please provide some assistance with a question. Its for an MBA course and needs to be between 550 and 650 words. Describe which nonprofit theory, contract failure theory or government failure theory, (or both) explain(s) the existence of a local nonprofit homeless shelter. Hint: Those served by the shelter, unlikel

Conservation Efforts - Biodiversity

1. Define "invasive species" using the U.S. Department of Agriculture (USDA) website: www.invasivespeciesinfo.gov/index.shtml 2. Provide three examples of invasive species in your region. 3. Define "endemic species," and provide an example of an endemic species from anywhere in the world. If you can find an example of an endem

Honest Tea and Mycorrhizal Applications

Examine the positive impact of two successful businesses that have direct ties to the natural world, Honest Tea (http://www.pearsoncustom.com/mct-comprehensive/asset.php?isbn=1269879944&id=11693) and Mycorrhizal Applications, Inc. (http://mycorrhizae.com/) As you review the content in this video and website, think about the rela

Non profit value and benefits

Can someone please provide some assistance with a question. Its for an MBA course and needs to be between 350 and 450 words. Every nonprofit has a reason to exist. However, many nonprofits miss the opportunity to express that in a concise way. Funders, potential board members, other supporters of a nonprofit need to know why t

Strategic Management: Vision, Mission, and Stakeholders

Strategic Management: Vision, Mission, and Stakeholders 1) What is your opinion on the QUESTION below? For this assignment, we will focus on General Mills, a multinational food manufacturing company: http://www.generalmills.com/ As you research General Mills, you may want to compare and contrast that company with the ot

Strategic Management Process Stages

Hello, I need help developing a response discussing the strategic management process. What strategic leadership activities are needed for strategy implementation?

How strategy helps companies

Threaded Discussion: In this module (and throughout the course) we will be discussing the strategic management cycle. And although organizations tend to consider organizational strategy yearly, organizational strategic plans tend to be multi-year endeavors often looking 5 or more years into the future. Given the typical 5 yea

Focus on SWOT

a) Evaluate the operating industry of General Mills using a minimum of two forces included within Porter's Five Forces model. b) Using PEST, assess General Mills' remote environment using a minimum of two PEST forces. c) Conclude your assessment about the overall environment. Is it more or less favorable for General Mill

Brazilian Amazon Deforestation

Duncan, Emma. All creatures great and small. The Economist Sep 14, 2013; Vol. 408 (8853): 3. And Brazil's conversion: Trees of knowledge. The Economist Sep 14, 2013; Vol. 408 (8853): 13. Answer following questions: •Why did the Paragominas support their mayor? Address the following in your answer: •What level of biodive

Executive Summary for Time Restraint

DB Post an executive summary of your Comprehensive Project in the body of a post in this discussion (please do not use attachments). An Executive Summary is a one-page document that outlines the purpose, process, findings, discussion, and findings of a report submitted to management. CEOs often read and assess an Executive Summ

MRP and JIT : Feets

MRP and JIT each have benefits. Can they work together successfully, and how would one go about combining them at one of the Feets vendors? Pick a vendor type, such as shoes or apparel and relate you answer to that vendor type. How does shipping from China (e.g., shoes) affect your analysis? Can the result be a pull or a p

Supply Chain for Time Restraint

Research an organization of your choice, and describe its supply chain. Your description should include a discussion of: • Suppliers. • Facilities (plants, distribution centers, etc.). • Customers. • Supply chain partners (third party providers, etc.). Draw a schematic of the organization's supply chain with thre

Financial overview of property maintenance/home repair organization

Hello, I need help with: Developing a 350- to 700-word four-part financial overview of a property maintenance/home repair organization. This overview will include the revenue model, financial highlights, funding requirements/use of funds, and the exit strategy. To support this work a financial statement needs to be developed

Restaurant Industry

Please choose a venue in the hospitality industry that is of most interest, covering the below topics. 1) how technology is utilized in the venue, 2) career opportunities within the venue, 3) marketing strategies within the venue, 4) how positive and poor customer service can affect consumer behavior within the venue, 5)

Mychorrhizal Fungi

Cooperation and trade are common in the natural world. Based on the cost of production and the constraints presented by the environment, an organism may be more successful by trading for a product than producing it. In this situation the organism may specialize in one product and trade for another. In this assignment we will exa

Compensation Management- Pepsico

I need assistance with preparing written material on PepsiCo; briefly describing its compensation strategy, best practices they are applying, and compensation-related challenges they are facing; analyzing how your company applies compensation practice to determine the positive or negative impact to the company and its stakeholde

free cash flow

Explain the theory behind the free cash flow valuation approach. Why are the free cash flows value relevant to common equity shareholders when they are not cash flows to those shareholders, but rather are cash flows into the firm?

The Business World and the Natural World

As we begin to consider some parallels between the business world and the natural world, we can identify some very similar patterns in extinction, adaptation, and supply and demand in both. For example, an organism faces many challenges as it attempts to survive in the natural world, just as a business will struggle to succeed i