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: 1,629

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

Managing Diversity

Postings: 398

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

Networking

Postings: 68

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: 2,060

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: 716

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

Organizational Behaviour

Postings: 2,437

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: 650

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.

Newsvendor inventory systemc

This posting contains an example problem on application of the newsvendor inventory problem. Problem # 1. ABC Appliances is an electronics superstore in California. It sells consumer electronics items as well as appliances. ABC is considering carrying a newly introduced plasma HDTV for Charismas holiday sales. Each HDTV can

Elaborating a Business Plan

Industry Analysis and Financial Framework for Eat Right Healthy Shop Market Analysis for Eat Right Healthy Shop The market analysis decides how appealing a market is and to comprehend its progressive favorable circumstances (opportunities) and unfavorable prospects (threats) in relation to the firm's strengths and weaknesse

Strategic Planning Versus Humanistic Management

Hello, I need help developing response tothe following: 1. Compare and contrast quality programs, such as humanistic management and strategic planning theories. What are the differences and similarities? 2. Was the Balanced Scorecard theory innovative? Why or why not?

Creating Income Statement Projections

All historical information remains the same (through Year X-1). Use this new set of assumptions: Revenue growth: 30% Year X 30% Year X + 1 1% improvement in Gross Margin for Year X E (from year X-1). No further change in the Gross Margin for Year X+1. 1% improvement in Selling in Year X E. Same level in

Communication Networks, Internet in Business

What are communication networks and associated key elements? What are the various elements of Wireless Revolution? How do they impact our business and daily experiences?Is it ethical or good business to monitor employees on networks?Why do Google, Apple, Microsoft all want to include your Internet experience in their business? W

Hospitality Industry

1) Describe how career opportunities have changed over the years due to growth in the hospitality industry. 2) Describe how the hotel market has been affected by changes in consumer expectations.

Accomplishment of objectives by successful managers

Course Objectives- Recognize situations that present potential legal and ethical issues and develop solutions for those issues. Discuss the opportunities provided by technology for businesses. Apply critical thinking skills to analyze business situations. Construct a strategic marketing plan. Interpret the challenges a comp

The Feasibility Mass Customization

One of the vendors for Feets has come forward with a proposal to produce custom shoes for customers. What potential questions would you have for this vendor? Would you require the vendor to perform mass customization of the shoes? Why or Why not? How would you evaluate whether or not Mass customization would be fe

Customer Service Survey

Marketing Budget Plan for Eat Right Healthy Shop Marketing Plan Elements For Eat Right Healthy Shop Direct and Alterative Competition In the market of the U.S., the Eat Right Healthy Shop faces a direct competition from many other similar retail shops that provide the products and servic

Helplessness and Optimism, Values and Beliefs

Hello I need help developing a response to the following along with references: 1. Values and beliefs are not the same. What is the difference? Why is this distinction important? 2. What is learned helplessness? What is optimism? How do these constructs interact? Locate an optimism instrument, such as Scheier and Carver's

Preparing a Risk Control Matrix

The U.S. Sarbanes-Oxley Act requires evaluation of how public companies implement financial reporting controls. Many companies prepare a risk control matrix to assess risk. Preparing a risk control matrix can help identify pertinent data and often identifies the risks, controls, and monitoring methods to help ensure accurate fin

G.E diversification

General Electric 4-5 double spaced page 1 Level of diversification: What are GE's areas of diversification? Evaluate the potential strengths, weaknesses, opportunities, and threats of the diversification approach. page 2 help International operations: Look at GE's operations in many countries. Who are their competitors? Ev

Examples of Accounting Activities and their Effect on Cash Flows

Identify where the cash flow effect of each of the following transactions is reported in the statement of cash flows, operating, investing, or financing section. State the direction of each change. State non if there is no cash flow effect. 1. issuance of stock for cash 2. issuance of stock for lang 3. acquistion of treasury

Ratio Analysis.

a. Calculate the amounts of these ratios for Year 4. b. Assess the changes in the short-term liquidity risk of Hasbro between Year 2 and Year 4 and the level of that risk at the end of Year 4. c. Assess the changes in the long-term solvency risk of Hasbro between Year 2 and Year 4 and the level of that risk at the end of Year

Employee Scheduling at Feets

Deliverable 5 pages Using the library and other course resources, consider what are the parameters and considerations that must be made when developing the employee schedules for the retail stores at Feets. Are there software packages to assist in this activity? Please explain how CPFR would reduce or eliminate ethical

Salary Negotiation Scenarios

My assignment is to write an 800 word essay I need assistance with developing the scenarios not the essay itself. I need two 250 word scenarios showing how I would negotiate a salary in Management Consulting utilizing the techniques described in the articles. The U.S. State Department gives its employees many helpful tips for

Fiscal Policy and the Economy

Describe fiscal policy and how it relates to todays economy (in your own words and with references). I need to understand it better and right now I am having a hard time applying/relating it to todays economy. These are some questions I have in my book as practice questions that I do not understand. I have the answers but the bo

Risk Measurement Tool

comment on the first risk measurement tool you would use and why for any two of the following: * Short term liquidity risk * Long term solvency risk * Credit risk * Bankruptcy risk.

Guidelines to Developing Training Programs

Need assistance developing an employee training program, that includes designing a two day training program for a group of twenty (20) employees, Identify two to three (2-3) training needs though a Training Needs Analysis (TNA) and justify an approach for this training, develop the training objective for this program based on an

Effective Management in Master's Program

As you prepare to turn in your final assignment for the master's program , consider the insights you've gained into effective management. Please share three "best practices" that you've gained and explain how you will use these three best practices in your career.

Project's Payback period, NPV, PI, and IRR.

You are considering a project with an initial cash outlay of $80,000 and expected free cash flows of $20,00 at the end of each year for 6 years. The required rate of return for this project is 10 percent. a. What is the project`s payback period? b. What is the project's NPV? c. What is the project's PI? d. What is the projec

Organizational Development Model for Whole Foods

OD Models Subscribe In the Background Information section of Module 2, you are provided eleven (11) different OD models. Now that you've considered the background and the strengths and weaknesses of these models, which of them do you believe would be best suited to an OD analysis of your chosen Fortune "Best 100" orga