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Management Principles - Essay Example

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Last name, First Institute Date Management Principles The origin of concept of management can be traced back to the scientific management principles proposed by Taylor that focused on selection, training, supporting and rewarding people. Further, more comprehensive framework was developed by Fayol that described management functions and managerial duties…
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Management Principles

All managers are accountable for performing the four management functions namely, planning, organizing, leading and controlling work (Schermerhorn, 16). While planning involves objective and goal setting as well as designing methods or procedures to achieve the goals, organizing functions involve arranging tasks, people and other resources to achieve these goals. In order to achieve goals through people and by the use of available resources, managers must be able to effectively inspire their workforce in the right manner. All activities performed by the workforce need to be constantly monitored in order to ensure the tasks are being performed in the right manner. Moreover, managers need to monitor other resources for optimum output and for achieving the targeted performance. These core functions require specific skills and competencies, which managers need to learn by adopting specific behaviors and learning skills related to technical, human and interpersonal, concept and analytic aspects (Schermerhorn, 21-23). Management is greatly influenced by a variety of external and internal factors. External environmental factors that can impact organizational processes include competition, innovative products/services, governmental regulations etc. ... Read More
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