Premium Essay

Historical Approaches to Management

In: Business and Management

Submitted By EW92
Words 1465
Pages 6
Historical Approaches to Management
Management, as it is known today, exists in all organizations. With the continuous growth of size and complexity of these organizations, it has become necessary to follow a defined and professional approach to the practices of management. Samson & Daft (2012) defines management as “the attainment of organizational goals in an effective and efficient manner through planning, organizing, leading and controlling organizational resources”. The foundation to modern day management theory lies in the study of one of the oldest schools of management knows as classical management which emerged during the nineteenth and early twentieth centuries. Its developers focused on efficiency and contained three subfields: scientific, bureaucratic and administrative management.
Scientific Management was a theory created by Frederick Winslow Taylor, an American engineer. He believed that the limited success in organizations during the nineteenth century was was due to poor management practices rather than poor labour. Taylor believed that by increasing specialization and the division of labour, the production process would become more efficient. He introduced the development of a science for each unit of a task of a person’s work, replacing the old ‘rule-of-thumb’ methods previously used in industry. He achieved this by studying each task and then developing a standard method to perform that job. He would then select workers with specific skills and train them. Taylor also believed that a healthy working relationship between workers and managers was essential. In addition, Taylor proposed a reward system for workers to increase output. Taylor’s work inspired many others such as Henry Gantt, Frank and Lillian Gilbreth, to study and propose theories for scientific management (Samson & Daft 2012). This theory was developed to overcome the lack

Similar Documents

Premium Essay

Technology

...Assets and Risk Management Michael Young 29 October 2015 Abstract One of the most important responsibility in any organization is to protect the assets and seek ways to harden systems by performing test and implementing Intrusion Detection Systems (IDS). With the increase in attacks by hackers most organizations use vulnerability, threat, and exploit assessment to help keep their systems protected. A risk exist when threats are able to exploit vulnerabilities. It is understood there will always be a risk and threat. The technology used to infiltrate systems today has advanced significate over the years. I believe companies do not invest enough money in testing their systems regularly. In this paper I will talk about two (2) risk assessment methodologies and the key approaches to identifying threats relevant to an organization. I will also discuss the different types of assets that need protection. Lastly, I will explain the relationship between access and risk, and identify the tradeoffs of restricting access to the organization’s assets. Assets and risk management are essential components to a successful organization. Risk Assessment A risk assessment can save you time and resources if you follow the procedures, and utilize the resources available to conduct your assessment. The two preferred methods used to identify threats are reviewing historical data and threat modeling. The technique used often depends on the environment and resources available. Some companies...

Words: 1196 - Pages: 5

Premium Essay

Approaches of Public Administration

...Approaches of the public administration in: (a) The contemporary era Introduction The approaches to the study of Public administration in the contemporary era can be categorized from different angles such as normative approach and empirical approach. The main focus of these approaches is how public administration should be, and also to describe and to analyze the actual administrative situations. There different forms of public administration which are divide as follows; Philosophical approach Legal approach Historical approach Scientific approach Case Method Approach Institutional and Structural Approach Behavioral Approach Philosophical Approach The Philosophical approach takes within its purview all aspects of administrative activities. The main goal of this approach is to find out and enunciate the principles or ‘ideals’ underlying these activities. This is perhaps the oldest approach to public administration as of all other social sciences. Legal Approach This is a systematic approach which is formulated and it traces its ancestry to the European tradition of rooting Public administration in law. Public administration was considered to be a part of law, concentrating on legally prescribed structure and organization of Public authorities. Legal approach came into place at a time when the functions of the state were narrowly limited and simple in nature. The administrative law is an important branch of Public law which is conceived in quite broad terms to enable it...

Words: 1334 - Pages: 6

Premium Essay

Organizationa Behaviour

...NEW PERSPECTIVE FOR MANAGEMENT Management is generally considered to have three major dimensions—technical, conceptual and human. The technical dimension consists of the manager's expertise in particular functional areas. They know the requirements of the jobs and have the functional knowledge to get the job done. But the practicing managers ignore the conceptual and human dimensions of their jobs. Most managers think that their employees are lazy, and are interested only in money, and that if you could make them happy in terms of money, they would be productive. If such assumptions are accepted, the human problems that the management is facing are relatively easy to solve. But human behaviour at work is much more complicated and diverse. The new perspective assumes that employees are extremely complex and that there is a need for theoretical understanding given by empirical research before applications can be made for managing people effectively. MODERN APPROACH TO ORGANIZATIONAL BEHAVIOUR The modern approach to organizational behaviour is the search for the truth of why people behave the way they do. The organizational behaviour is a delicate and complex process. If one aims to manage an organization, it is necessary to understand its operation. Organization is the combination of science and people. While science and technology is predictable, the human behaviour in organization is rather unpredictable. This is because it arises from deep needs and value systems of people...

Words: 1212 - Pages: 5

Premium Essay

Importance Of Cost Estimation

...According to the literature review a lot is said about project cost estimates, budgeting and value management applied by different organizations, but not everything stated can be reviewed in this paper. Thus in the following section we will identify and review the following. • Approaches to cost estimation • Importance of cost estimation • And problems of cost estimation 3.1 Approaches to cost estimation Venkataraman et al (2008), states the organizations use a number of approaches to estimate project costs, which normally ranges from a highly technical and quantitative to more qualitative approaches. And according to Tolman et al (1987) virtually all project cost estimations are performed according to one or some combination of the following...

Words: 1210 - Pages: 5

Premium Essay

Thumanagement

...thutm@ftu.edu.vn Early Management • Management has been practiced for a long time. • Organized endeavors directed by people responsible for planning, organizing, leading and controlling have existed for thousands of years. Early management Adam Smith Scientific Management (1900s) General Administrative Theory (1910s) Management Theory Quantitative approach (1940s) Hawthorn Studies Behavioral science Theorists Human Relation Organizational Behaviour (1930-1950) Contemporary Views Historical background Industrial Revolution Classical Approaches • Scientific Management – Frederick W. Taylor (1856 1915) described scientific management as a method of scientifically finding the “one best way to do a job” - It emphasizes the scientific study of work methods to improve worker efficiency.’ Copyright ©2011 Pearson Education, Inc. Publishing as Prentice Hall. 1-6 • • • • Scientific methods Training employees Cooperative Task equally assign Scientific management • 4 rules within this method of managing. • Advantages and limitation of the theory Other Classic Approaches • General Administrative Theory – focused on what constituted good management – Max Weber (pictured) described the bureaucracy as an ideal rational form of organization. Copyright ©2011 Pearson Education, Inc. Publishing as Prentice Hall. 1-9 Henry Fayol (1842-1925) identified 5 management functions and 14 management principles • • • • • ...

Words: 553 - Pages: 3

Premium Essay

Life

...Chapter 2: MANAGEMENT LEARNING PAST TO PRESENT CHAPTER 2 TAKEAWAY QUESTIONS 1. What can be learned from classical management thinking? 2. What are the insights come from the behavioral management approaches? 3. What are the foundations of modern management thinking? CHAPTER 2 LEARNING OBJECTIVES After completing this chapter, students should be able to: • State the underlying assumption of the classical management approaches. • List the principles of Taylor’s scientific management. • List three of Fayol’s “principles” for guiding managerial action. • List the key characteristics of bureaucracy and explain why Weber considered it an ideal form of organization. • Identify possible disadvantages of bureaucracy in today’s environment. • Explain Follett’s concept of organizations as communities. • Define the Hawthorne effect. • Explain how the Hawthorne findings influenced the development of management thought. • Explain how Maslow’s hierarchy of needs operates in the workplace. • Distinguish between Theory X and Theory Y assumptions, and explain why McGregor favored Theory Y. • Explain Argyris’s criticism that traditional organizational practices are inconsistent with mature adult personalities. • Define system, subsystem, and open system. • Apply these concepts to describe the operations of an organization in your community. • Define contingency thinking, knowledge management, and a learning organization. • List characteristics...

Words: 7300 - Pages: 30

Premium Essay

Ob/ Orgnziation Behavier

...work from multiple perspectives: * Functionalist * Managerialist * Interpretive * Critical perspective * Feminist * Radical Other critical perspectives include the postcolonial, the poststructuralist, and the postmodernist. Functionalist Perspective If you want to be a manager, what would you want to know about people, work and organizational behaviour? How to motivate or lead employees? How to manage a team? These are ideas of management as a function. Much of what is known about management, people, and work comes from studies that aim to contribute to the effectiveness of managerial practice, to gain a better understanding of management. Studies of management, or what we sometimes call the mainstream, have examined what managers do, how they control absence, or what are the causes and consequences of stress. Many of these questions are answered in this text. Functionalist theory includes scientific management, leadership theory, management of culture, and many other theories of ‘management.’ This text is not functionalist. The text does not assume congruity of purpose, unproblematic workplaces, or that organizations are unitary wholes characterized by order and consensus. Managerialist Looks at behaviour and work from the exclusive perspective of the manager. ‘Managerialism’ is an ideology which assumes the need for one occupational group (managers) to coordinate (or control) the aims and activities of the other occupational groups (workers)...

Words: 887 - Pages: 4

Premium Essay

Historical Cost

...Accounting Communication Tatiana Egipti ESSAY "What are the arguments for and against continuing the use of historical costs in accounting?" Under Historical Cost valuation method all assets are presented on the balance sheet at their nominal (original) cost at the time of their acquisition. The Historical Cost method is the method prescribed by US GAAP for use by US companies. The proponents of the Historical Cost method often point out that one of the main advantages of such method is verifiability of initial cost information. This is true because the assets’ historical costs are based on actual transaction information, not merely estimates or hypothetical transactions. Thus, the costs are measured and presented objectively and are less susceptible to manipulation by management. There is also the Cost Efficiency advantage due to the fact that most times cost information is readily available and requires very minimal effort to obtain and verify. Additionally, determination of Historical Cost does not require any estimation by accountants and can be easily substantiated for audit purposes. Because of the objectivity of Historical Costs, information produced by accounting systems based on such methodology is easily understood by the end users. On the downside, many critics of the Historical Cost Accounting argue that usefulness of such approach diminishes in the periods of inflation when the purchasing power of money changes while the book values remain unchanged. The...

Words: 404 - Pages: 2

Premium Essay

Environment

...Learning Outcomes Analyze business environments in terms of transformation systems and internal and external environments Identify the most relevant elements of the business environments using PESTLE analysis and Porter’s five forces model Discuss the classical, human relations and systems approaches to organizations Describe and compare the various structures that may be used within organizations. The business as a transformation system Transformation Process: Businesses utilize the inputs in order to produce the outputs. Types of Environments A simple/static environment is the easiest to analyse. A detailed, systematic, historical analysis is probably sufficient in order to understand it. University of Sunderland Contemporary Developments In Business Management Unit 1: Introduction To The Business Environment In a dynamic environment, all aspects of the environment are subject to change. When changes are rapid or sudden, such environments are referred to as turbulent. Complex environments are becoming more and more common in modern times. Technology, markets, politics, etc. are becoming more difficult and more involved The Organization’s Environment PESTEL Factors PESTEL Analysis Political Economic Socio - Cultural Technological Environmental Legal Political Environment Government policy affects the whole economy and governments are responsible for enforcing and creating a stable framework...

Words: 896 - Pages: 4

Premium Essay

Loss Given Default

...Need and Analysis of LGD: Why is it important?? Literature Review I Submitted for the Research Paper at SIMSR On subject Risk Management By Manisha Jain (22) PGDM-FS Trimester IV To Professor A.K. Pradhan Year-2012-14 Literature Review * Introduction LGD (Loss Given Default) is the ratio of the losses to exposure to default for incurred by the bank when an obligor does not repay the debt back.LGD is the loss incurred after the default of an account i.e. when an account turns an NPA and the bank writes off the account the loss on that account is referred to as LGD. For calculation of LGD default is a must.LGD is a component of the Internal Rating Based approach given by Basel Norms 2 which allows the banks to calculate the credit risk capital requirements. IRB mainly has four components: probability of default (PD), Exposure at default (EAD), Maturity (M) and Loss Given Default (LGD). Researchers have deeply studied on the concept of LGD because NPA is great point of concern for the banks or the lending institutions these days. * Literature Review The Basel norms 2 were developed to better align regulatory capital with the underlying risk in a bank’s credit portfolio. It allows banks to compute their credit risk capital in two ways: a revised standardized approach based on the original 1988 Capital Accord, and two versions of an internal ratings based (IRB) approach whereby banks are permitted to develop and use their own internal...

Words: 1888 - Pages: 8

Free Essay

Significance of Basel 1 & 2

...The Significance of Basel 1 and Basel 2 for the Future of The Banking Industry with Special Emphasis on Credit Information Abstract This paper examines the significance of Basel 1 and Basle 2 for the future of the banking industry. Both accords promote safety and soundness in the financial system with Basel 2 utilize approaches to capital adequacy that are appropriately sensitive to the degree of risk involved in a banks’ positions and activities. These approaches –and especially the one to measure credit risk- will require information from external credit assessment institution and information collected by banks about their borrowers creditworthiness. Maher Hasan Central Bank of Jordan To be presented in the Credit Alliance/ Information Alliance Regional Meeting in Amman 3-4 April 2002 1. Introduction The soundness of the banking system is one of the most important issues for the regulatory authorities. There are two main questions facing the regularity authorities regarding this issue: First, How should banking “soundness” be defined and measured? Second, What should be the minimum level of soundness set by regulators? The soundness of a bank can be defined as the likelihood of a bank becoming insolvent (Greenspan 1998). The lower this likelihood the higher is the soundness of a bank. Bank capital essentially provides a cushion against failure. If bank losses exceed bank capital the bank will become capital insolvent. Thus, the higher the bank capital the higher is...

Words: 4670 - Pages: 19

Premium Essay

Npec

...PORTFOLIOS special section The Voices of Influence | iijournals.com Pursuing the Low Volatility Equity Anomaly: Strategic Allocation or Active Decision? ERIK KNUTZEN ERIK K NUTZEN is the chief investment officer at NEPC LLC in Cambridge, MA. eknutzen@nepc.com FALL 2013 JOI-KNUTZEN.indd 75 I n the past several years, asset managers have built investment strategies based on historical evidence that lower volatility stocks earn superior risk-adjusted returns. These approaches are being called low volatility, managed volatility, minimum variance, or similar names. They seek to exploit what has been identified in studies by academics and practitioners alike as an equity pricing anomaly. This anomaly joins previously identified persistent stock market inefficiencies associated with low price-tobook and smaller company shares. This article evaluates the low volatility anomaly, its potential causes, whether it is likely to persist, and the role, if any, of low volatility equity investing in long-term investment programs. Based on historical information, we conclude that the low volatility equity anomaly appears to exist and can be explained by certain behavioral and structural biases of investors. But its continued existence into the future is less certain. We also observe that even well-documented anomalies experience multi-year periods of outperformance and underperformance relative to broad market benchmarks such as the Standard...

Words: 4676 - Pages: 19

Premium Essay

Failure of Risk Management

...of risk management: a book review with 7 comments Introduction Any future-directed activity has a degree of uncertainty, and uncertainty implies risk. Bad stuff happens – anticipated events don’t unfold as planned and unanticipated events occur. The main function of risk management is to deal with this negative aspect of uncertainty. The events of the last few years suggest that risk management as practiced in many organisations isn’t working. A book by Douglas Hubbard entitled, The Failure of Risk Management – Why it’s Broken and How to Fix It, discusses why many commonly used risk management practices are flawed and what needs to be done to fix them. This post is a summary and review of the book. Interestingly, Hubbard began writing the book well before the financial crisis of 2008 began to unfold. So although he discusses matters pertaining to risk management in finance, the book has a much broader scope. For instance, it will be of interest to project and program/portfolio management professionals because many of the flawed risk management practices that Hubbard mentions are often used in project risk management. The book is divided into three parts: the first part introduces the crisis in risk management; the second deals with why some popular risk management practices are flawed; the third discusses what needs to be done to fix these. My review covers the main points of each section in roughly the same order as they appear in the book. The crisis in risk management There are...

Words: 3167 - Pages: 13

Free Essay

Hsa Ruger Clinic

...HOUSE KEEPING SERVICE DEPARTMENT OF RUGER CLINIC Ruger Clinic Assignment 2 Healthcare Financial Management HSA House Keeping Service Department of Ruger Clinic Wiley (2004) defines cost volume profit (CVP) as an accounting method that is used to analyzes changes in profit as they are related to sales, volume, cost and pricing. This is an important tool for managers because the information the analysis provides is used to project various operation requirements. A cost volume profit analysis reflects: which product or service should be focused on, the volume needed to reach the maximum profit requirements, the amount of revenue required to minimize losses, how to manage fixed cost, how to budget and it can identify areas of risk (Wiley, 2004). The Coleco Adam was a word processor that was used in the work place to run reports and it was also used as a computerized gaming program toy for children (Peel, 1984). Coleco had great expectations for the Adam; it was expected to be the item that would allow Coleco to take over the children’s electronic game market for the Christmas holiday season in 1982 (Wiley, 2004). What Coleco expected and what actually happened was two different things. Coleco also manufactured a doll called the ‘Cabbage Patch’. Both the Adam and the Cabbage Patch Doll were introduced to the market during the 1982 holiday season, the Cabbage Patch Doll became the number one selling item...

Words: 1251 - Pages: 6

Free Essay

Wrtg101 Writing Assignment 2 Comparison-Contrast

...listed below: If you are majoring in one of the Sciences programs in our SCIP unit, you might be majoring in one of the following: environmental management, biotechnology, laboratory management, social science, gerontology, psychology, or political science You might write a comparison-contrast essay on one of the following: green and non-green buildings two processes in building sustainable communities two countries’ approaches to a particular environmental issue archaeal viruses and bacterial viruses two gene lists in a particular animal community descriptive and prescriptive discriminant analysis in the social sciences two views of a particular field of study in the social sciences two methods of performance appraisal for an employee gender differences in a particular psychological phenomenon two frailty models two cultures’ methods or attitudes toward caring for the elderly If you are majoring in one of the disciplines in our Computer Information Systems and Technology (CITE) unit, you might be majoring in one of the following: computer networks and security, computer science, cybersecurity, digital media and web technology, or information systems management You might write a comparison-contrast essay on one of the following: two cultures’ views on project management and success in a software project SQL and QBE viewing text on a computer screen and viewing text in...

Words: 883 - Pages: 4