Scientific management methods called for optimizing the way that tasks were performed and simplifying the jobs enough so that workers could be trained to perform their specialized sequence of motions in the one "best" way.
The phrase "management is what managers do" occurs widely,  suggesting the difficulty of defining management without circularitythe shifting nature of definitions[ citation needed ] and the connection of managerial practices with the existence of a managerial cadre or of a class.
One habit of thought regards management as equivalent to " business administration " and thus excludes management in places outside commerceas for example in charities and in the public sector.
More broadly, every organization must "manage" its work, people, processes, technology, etc. Some such institutions such as the Harvard Business School use that name, while others such as the Yale School of Management employ the broader term "management".
English-speakers may also use the term "management" or "the management" as a collective word describing the managers of an organization, for Bussiness administration of a corporation.
The concept and its uses are not constrained[ by whom? Management on the whole is the process of planning, organizing, coordinating, leading and controlling.
Nature of Bussiness administration edit ] In profitable organizations, management's primary function is the satisfaction of a range of stakeholders.
This typically involves making a profit for the shareholderscreating valued products at a reasonable cost for customersand providing great employment opportunities for employees.
In nonprofit management, add the importance of keeping the faith of donors. In most models of management and governanceshareholders vote for the board of directorsand the board then hires senior management.
Some organizations have experimented with other methods such as employee-voting models of selecting or reviewing managers, but this is rare.
History[ edit ] Some see management as a late-modern in the sense of late modernity conceptualization. Others, however, detect management-like thought among ancient Sumerian traders and the builders of the pyramids of ancient Egypt. However, innovations such as the spread of Hindu numerals 5th to 15th centuries and the codification of double-entry book-keeping provided tools for management assessment, planning and control.
Machiavelli wrote about how to make organisations efficient and effective. The principles that Machiavelli set forth in Discourses can apply in adapted form to the management of organisations today: While one person can begin an organisation, "it is lasting when it is left in the care of many and when many desire to maintain it".
A weak manager can follow a strong one, but not another weak one, and maintain authority. A manager seeking to change an established organization "should retain at least a shadow of the ancient customs".
With the changing workplaces of industrial revolutions in the 18th and 19th centuries, military theory and practice contributed approaches to managing the newly-popular factories. But with growing size and complexity of organizations, a distinction between owners individuals, industrial dynasties or groups of shareholders and day-to-day managers independent specialists in planning and control gradually became more common.
Etymology[ edit ] The English verb "manage" comes from the Italian maneggiare to handle, especially tools or a horsewhich derives from the two Latin words manus hand and agere to act.
For example, Chinese general Sun Tzu in his 6th-century BC work The Art of War recommends[ citation needed ] when re-phrased in modern terminology being aware of and acting on strengths and weaknesses of both a manager's organization and a foe's.
Plato described job specialization in BC, and Alfarabi listed several leadership traits in AD Mirrors for princes Written in by Adam Smitha Scottish moral philosopherThe Wealth of Nations discussed efficient organization of work through division of labour.Meet your career challenges head-on by mining the expertise of the nation's top business leaders.
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Be responsible for the office expenses and finance. Although in a lot of cases the consignee is also the customer of the forwarder, just as with the shipper, this is not necessarily so.
Also here, the customer can just as well be the shipper, or a third party that has ordered the goods stored at the shipper’s location to be shipped from A to B. For this same reason, the consignee also does not need to be the owner of the goods.
P M S 2 SECOND YEAR CODE SUBJECTCREDIT PREREQUISITE SUBJECT(S) FMNT Financial Management IV (0,) Financial Accounting Aspects IV LRLT Labour Relations and Law II .
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