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introduction of management theories
Typology: Lecture notes
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MEN
MONEY
MATERIALS
MACHINES
METHODS
MARKET
PLANNING ORGANIZING STAFFING
DIRECTING CONTROLLING
SOCIAL RESPONSIBILITY PROFIT
Basic Resources 6 M’s
FUNDAMENTAL FUNCTIONS THE PROCESS OF MANAGEMENT
OBJECTIVES END-RESULT
FUNCTIONS OF MANAGEMENT
O Planning O Refers to the formulation of objectives, programs, policies, procedures, rules and regulations, in order to achieve the goals of the business.
Rank and File Owner - Manager 1–
100
0 Percentage of time spent on daily work activities
FUNCTIONS OF MANAGEMENT
O Grouping together of people, establishing relationship among them, and defining the authority and responsibility that the personnel have in the use of the company’s material resources to attain predetermined goals and objectives.
O The identification or grouping of work to be done, the delegation of authority and responsibility, and the establishment of relationships among them in order to use to maximum advantage the company’s material resources in the attainment of a common objective.
FUNCTIONS OF MANAGEMENT
O Involves motivation, leadership styles and approaches and communication.
The process of measuring and correcting the activities of subordinates and the company itself to assure conformity to plans.
It results in the accomplishment of objectives through the use of human efforts.
It is a systematic body of knowledge. It gathers and analyzes facts and formulates general laws or principle from these facts.
Therefore, management seeks to integrate into a unified, coordinated whole the essential factors that make up an organization.
Evolution of Management Theories
− A graduate of mining engineer, Fayol was a French industrialist who was first to issue a complete statement on a theory of general management. − Started as a janitor in 1860 he rose to become the executive of a coal mining and iron foundry company. In 1888, he took over as a managing director & turned the company into financially sound organization. − Greatest contribution was his discussion of management principles and elements;
Evolution of Management Theories
TOP MANAGEMENT (President / Vice-President
MIDDLE MANAGEMENT ( Department heads, Section Chiefs, Supervisors, etc.)
LOWER LEVEL OR RANK (Clerks, Messenger, Typist, etc.)
Evolution of Management Theories
Evolution of Management Theories
− An apprentice with the Enterprise Hydraulic Works, he joined Midvale Steel Company as a laborer in 1878. In 6 short years he rose to Chief Engineer. − Usually called the “father of time study” − Believed that a “mental revolution” would have to take place before management and workers could see that their positions were compatible.
Evolution of Management Theories
Evolution of Management Theories
− Emphasized the ideal motions required to perform a job in an optional fashion. − Analyzed the work of stonemasons-skilled work, he noticed that each worker was soon got tired because he had to bend continually to pick up bricks which were arranged in a small pile before him. − Focused on increasing worker productivity through the reduction of wasted motion − Developed the microchronometer to time worker motions and optimize performance.
Evolution of Management Theories
− A series of productivity experiments conducted at Western Electric from 1927 to 1932 by Elton Mayo and his associates. O Experimental findings O Productivity unexpectedly increased under imposed adverse working conditions. O The effect of incentive plans was less than expected. O Research conclusion O Social norms, group standards and attitudes more strongly influence individual output and work behavior than do monetary incentives.