An outlne of evolution of Management
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The industrial revolution took place in the middle of 18th century. Prior to that production of goods took place in a small scale employing few workers. The economy was sufficient, needs of the people were limited and the production mainly took place for the self consumption. Trade was restricted within a community more or less on the barter system.
Payment to workers used to be made in kind
But that also had to be done in a systematic order. Produce had to be bundled in a proper manner within a specified period of being produced, transported to the village market to sell or exchange and properly accounted for.
But that also had to be done in a "systematic order". Produce had to be bundled in a proper manner within a specified period of being produced, transported to the village market to sell or exchange and properly accounted for.
Note the words which actually indicate various types business entities which came into existence over the period of time.
For example:
Bundled in proper manner - Packaging industry;
Within a specified period of time: creating a time Utility in the goods produced;
Transported: Transport and logistics;
Village market: where the produce used to be exchanged;
Properly accounted for: stocking, finance
What is Management?
Management is the process of achieving organizational goals by engaging in the four major functions of planning, organizing, leading, and controlling.
This definition recognizes that management is an ongoing activity, entails reaching important goals, and involves knowing how to perform the major functions of the management.
The Functions of the Management:
Planning is to decide what is required to be done now or near future and formulating plans for action;
Organizing: how to implement the plans to ensure maximum utilization of the resources to achieve the organizational goal;
Staffing: involves job analysis, recruiting and hiring suitable persons according to the requirements of the job;
Leading/Directing: Solving any situation and deciding how and what to do and get the people do it
Controlling / Monitoring: Checking whether the work is progressing according to the plans.
The role of the human resources management of an organization aims to maximize the return on the investment made on the human capital and minimize the financial risk. Human resources management ensures the supply of skilled workers in time, arrange their training if needed and where needed, fore see the future need of the personnel in keeping with the future growth of the organization.
create value for stakeholders
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Solution Summary
The order barked by the owner to workers was the sole type of administration or management. But that also had to be done in a systematic order. Produce had to be bundled in a proper manner within a specified period of being produced, transported to the village market to sell or exchange and properly accounted for
Founding fathers: Henry Fayol : 14 of Management Principles and 16 Management Duties. The principles enunciated by him continue to be relevant to the present day.
2) Frederick W.Taylor: Stated that management must know all that every job involved, to ensure that the pay should be fair for all the work to carry out so that only with first class conditions and methods of work can first class work be carried out.
What is Management?
Management is the process of achieving organizational goals by engaging in the four major functions of planning, organizing, leading, and controlling.
Your views in an organization are shaped according to the leadership provided by it, corporate culture, prevailing environment, inter-personnel relationship, ethical values and above all the treatment/behavior of your seniors.
Basic tenets of management has not changed and is practiced today and will be tomorrow but the extent that it affects the lives of people has immensely increased with fast industrialization
Humans are individuals like you and me. We have no relation with any organization. But when a company employs us for a particular type of job based on our skills, training and qualifications we become its resources
Human Resources is a term used to describe the individuals who comprise the workforce of an organization HRM means employing people, developing their capacities, utilizing, maintaining and compensating their services in tune with the job and organizational requirement.
Solution Preview
1. What are some of the key ideas from the history of management and how are they relevant to our understanding of management today?
2. How different is a human being from a human resource? How much does that matter?
3. What are some of the most important factors for managing at the level of the organization? How do we put all this together to create value for stakeholders?
4. What are the factors in terms of individuals and relationships at the corporation? How do they shape your view of the individual and how to manage people?
5. What is management and what are some of the core reasons why managing people is important?
SOLUTION:
Please note
For a clearer view and better perception and similarity of the questions I am merging the number (1) with (5). I am going to deal with the two questions by breaking them into following sub-sections in proper order:-
i) History of Management ;
ii) What is Management;
iii) Its relevance to present day management.
Managing people is being merged with questions (2) (3) and (4) as dealing it separately will be nothing but repeating the same topic again.
(i) HISTORY OF MANAGEMENT:
The industrial revolution took place in the middle of 18th century. Prior to that production of goods took place in a small scale employing few workers. The economy was sufficient, needs of the people were limited and the production mainly took place for the self consumption. Trade was restricted within a community more or less on the barter system.
Payment to workers used to be made in kind. The order barked by the owner to workers was the sole type of administration or management.
But that also had to be done in a systematic order. Produce had to be bundled in a proper manner within a specified period of being produced, transported to the village market to sell or exchange and properly accounted for.
Any study of history of management will remain incomplete without the mention of two outstanding names:-
1) Henry Fayol
2) Frederick W.Taylor and
In 1908 Fayol presented a paper "Administration Industrielle et Generale" to the congress of Societe de L'Industrie Minerale describing 14 of Management Principles and 16 Management Duties. The principles enunciated by him continue to be relevant to the present day.
"Fourteen principles: "
1. Division of work - work and tasks should be perform by people specialized in the work and similar tasks should ...
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