Create the basic concepts and theories of management for your business.
Create the basic concepts and theories of management for your business
Management Theories & Concepts at the Workplace
Whether they are motivating employees, making decisions, allocating resources or negotiating deals, managers are vital for business. Managers have been an integral factor for business success since the Industrial Revolution. Management theories have been developed and used since management first became a standard part of business practices. While older theories still hold relevant, new theories continue to be develop to keep up with current trends in business.
The workplace has changed dramatically since the first management theories were conceived. Modern management is not a one-size-fits-all practice. Therefore, it is helpful to gain an understanding of management theories and their applications.
Common Concepts in Management Theories
Management theories all revolve around similar concepts. Managers are expect to handle processes, people, information and other duties as necessary. A manager may need to motivate their subordinate employees or determine how best to improve operational processes. Management theories provide frameworks for successfully handling those responsibilities.
Managers must be responsible for the performance of their teams toward organizational goals. Reaching business goals might include reducing human error or standardizing processes. Management theories help to clarify these types of goals for managers and inform on how best to realize those goals.
Where Did Management Theories Originate?
Mass production and the Industrial Revolution brought about new requirements for managing people and processes. As companies began to grow in size and production, business owners increasingly needed managers to run their daily operations. Prior to the Industrial Revolution, only a few organizations and militaries required theories for management. As a result of expanding industry, the practice of management became a major theoretical consideration in the study of business.
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