Management today
Business and management in the 21 st century • Management is changing rapidly in a fastmoving global world. • Full time jobs are in decline • Lifelong employment is being replaced by short term contracts and series of “tasks” • There is an increasing demand for management skills on a “project” basis.
Background to changes • Business is the backbone of market economy • It was only in the 20 th century that analysts began the systematic study of business and management.
Management Theories • F. W. Taylor • Scientific Management (1911)
Management Functions • Henry Fayol • 5 management functions (1916): Planning, organizing, commanding, coordinating, controlling
Management Functions • Hugo Munsterberg • Psychology and Industrial Efficiency (1912): • How to match mental qualities with specific jobs • The psychological conditions for maximizing output • How an organization could increase its employees’ output
Management Functions • 1924 -1927 (the USA) • The Hawthorne plant of the Western Electric Company • The purpose was to find out how factory lightning systems could affect worker productivity (increasing the lightning systems in some areas of the plant and decreasing it in other areas)
Hawthorne Effect • George Mayo • Worker productivity increased in both areas of the plant • They thought that the presence of the researchers was responsible for the workers’ productivity • The social effect of organizations on productivity
Management approaches • Situational approach (the specific situations in which managers act) • Managerial roles approach (the actual activities of managers) • Empirical and case approach (from the point of view of experience) • Systems approach (the relationship between individual businesses and the outside environment) • Decision theory approach (managerial decision-making) • Group behavior approach (the psychological elements in group be • Interpersonal approach (human relations approach)
Roles of a manager • Mintzberg (Canada) • 3 new categories of roles: Interpersonal roles Information roles Decision roles
Roles of a manager • Interpersonal roles (a figurehead, a leader, a liaiser) • Information roles (monitor, disseminator, spokesperson) • Decision-making roles (entrepreneur, disturbance handler, resource allocator, negotiator)
Outsiders (Stakeholders) • • • Competitor Suppliers Governments Logistics specialists (transporters) Consumers Customers Bankers and banks Would be students Community
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