Definition of Management - F.W. Taylor
Management is knowing exactly what you want men to do, and then seeing that they do it in the best and cheapest way. - F.W. Taylor.
The art of management has been defined, "as knowing exactly what you want men to do, and then seeing that they do it in the best and cheapest way.
Definition of Management - F.W. Taylor
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Business is exchange of goods or services. There are production-supply function and marketing-selling function in any business at the core. There is division of labor and more specialized functions are now existence.
Management of a business of an individual or of a firm starts at the instant one person has thought of doing business to earn income. Once the actual business of producing and exchanging or selling the goods or services start it is conceived as an ongoing business. No doubt individuals stop doing business and business firms are closed. So in practice we can see many business closures. In a broad way, management of business extends from the instant an idea to do business germinates in a person's mind to the instant it is closed.
In modern terminology, the important steps or functions in a management are:
Planning: Deciding whether there is a profitable business opportunity are not?
Organizing: Determining which resources or needed to do the business and their division into units allocated to specific individuals to use them and do business activities. The activities include operational activities and managerial activities. Managerial activities keep taking place all the time in a business.
Resourcing: All resources identified as requirement for doing a business or business activity are to be acquired and provided to the individuals to do activities.
Directing: The individuals appointed to do business and managerial activities have to be directed by the managers concerned in the outputs required and the process to be used.
Controlling: After giving directions, managers to observe and check or measure whether the activities are giving desired outputs and performance. If there is a gap, they have to take managerial actions to reduce the gap.
1. Evolution of Management Thought and Theory
2. Evolution of Scientific Management
3. Principles and Laws of Management - Taylor (1903 & 1911) and Gillette & Dana (1909)
4. Science and Philosophy of Management - A. Hamilton Church (1914) & Oliver Sheldon (1924)
5. Principles of Management - Henri Fayol (1916), Koontz & O'Donnell
6. Evolution of Production Management
7. Evolution of Productivity Management
8. Evolution of Marketing Management
9. Evolution of Human Resource Management
10. Evolution of Organizational Behavior
11. Evolution of Accounting
12. Evolution of Financial Management
13. Evolution of Supply Management and Supply Chain Management
14. Evolution of Business Logistics Management
15. Industrial Management - Evolution of The Subject
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