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1. Controlling is one of the major functions of management. Cite an example of your preferred future business that shows its process.

1. Controlling is one of the major functions of management. Cite an example of your preferred future business that shows its process.

Understanding Business
Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
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1. Controlling is one of the major functions of management. Cite an example of your preferred future business that shows its process. 2. How are the managerial theories different from each other?
Transcribed Image Text:1. Controlling is one of the major functions of management. Cite an example of your preferred future business that shows its process. 2. How are the managerial theories different from each other?
4. Controlling It involves establishing performance standards by making sure that the performance of employees is as per the plan. Controlling is both a managerial function and continuous process where the manager: (a) gathers information that measures performance; (b) compares present performance to pre-established performance norms; and (c) determines the next action plan and modifications for meeting the desired performance parameters. MANAGERIAL THEORIES Evolution of Management in the last eighteenth century has been evolving to a variety of contemporary management theory including the classical, behavioral, quantitative and new theories. Each theory is inclusive with a view on specific time frames to meet the specific phenomenon and existing management needs. Classical Theories 1. Scientific Theory Ideas of early management by Frederick W. Taylor, Jill Perth and Gantt was formed by the impact of natural methodology and it emphasized rational thinking based on the scientific work to improve individual efficiency. 2. Administrative Theory The administrative view proposed by Henri Fayol and Max Weber highlighted the importance of operational effectiveness on the whole organization to develop a general theory explaining the good management features infrastructure. Behavioral Theories 1. Hawthorne Experiment This study disclosed that Classical Theory is mainly focused on the organization itself and employees with power driven perspective concentrated on the point of view of human nature, importance of individual attitudes and behaviors, motivate employees in improving productivity. It suggests that employees will perform better when they feel nurtured. ORGMGMT | QI WI 2. Interpersonal Perspective This was proposed by Maslow and McGregor (X&Y theory) that provided a basic foundation of the behavioral view on human relations and was further derived from the Hawthorne experimental results showing that the productivity of employees is affected by the interaction and affective atmosphere of the management that leads to better performance. Quantitative Theory Quantitative Theory originated during World War II. A theory that resulted to orderly thinking by defining and solving complex problem. The use of quantitative measurement and computer modeling theory such as analysis of complex business problems which gradually become a branch of the management science and operations management perspective. New Theories 1. System Theory This emphasized that there is a gradual integration of a new theory through a system point of view and the contingency perspective which successfully meets the inconsistencies that sprouted in the Classical and Behavioral Theories. 2. Contingency Theory In this perspective, industry focuses on how to adapt the environmental change and believes that there is no "universal approach" for the management to solve such circumstances since all of management challenges depend on varying conditions. It highlights that the current time would be always be appropriate condition for the management to handle specific and managerial variations.
Transcribed Image Text:4. Controlling It involves establishing performance standards by making sure that the performance of employees is as per the plan. Controlling is both a managerial function and continuous process where the manager: (a) gathers information that measures performance; (b) compares present performance to pre-established performance norms; and (c) determines the next action plan and modifications for meeting the desired performance parameters. MANAGERIAL THEORIES Evolution of Management in the last eighteenth century has been evolving to a variety of contemporary management theory including the classical, behavioral, quantitative and new theories. Each theory is inclusive with a view on specific time frames to meet the specific phenomenon and existing management needs. Classical Theories 1. Scientific Theory Ideas of early management by Frederick W. Taylor, Jill Perth and Gantt was formed by the impact of natural methodology and it emphasized rational thinking based on the scientific work to improve individual efficiency. 2. Administrative Theory The administrative view proposed by Henri Fayol and Max Weber highlighted the importance of operational effectiveness on the whole organization to develop a general theory explaining the good management features infrastructure. Behavioral Theories 1. Hawthorne Experiment This study disclosed that Classical Theory is mainly focused on the organization itself and employees with power driven perspective concentrated on the point of view of human nature, importance of individual attitudes and behaviors, motivate employees in improving productivity. It suggests that employees will perform better when they feel nurtured. ORGMGMT | QI WI 2. Interpersonal Perspective This was proposed by Maslow and McGregor (X&Y theory) that provided a basic foundation of the behavioral view on human relations and was further derived from the Hawthorne experimental results showing that the productivity of employees is affected by the interaction and affective atmosphere of the management that leads to better performance. Quantitative Theory Quantitative Theory originated during World War II. A theory that resulted to orderly thinking by defining and solving complex problem. The use of quantitative measurement and computer modeling theory such as analysis of complex business problems which gradually become a branch of the management science and operations management perspective. New Theories 1. System Theory This emphasized that there is a gradual integration of a new theory through a system point of view and the contingency perspective which successfully meets the inconsistencies that sprouted in the Classical and Behavioral Theories. 2. Contingency Theory In this perspective, industry focuses on how to adapt the environmental change and believes that there is no "universal approach" for the management to solve such circumstances since all of management challenges depend on varying conditions. It highlights that the current time would be always be appropriate condition for the management to handle specific and managerial variations.
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