The Management Of The Industrial Market

There are many different definitions of management. The classical authors considered the management is a role that aims to achieve effective operation, make regulations, provide directions and control resources (Whetten and Cameron, 2002). However, the newer visions focus more on management as a communication job in order to finish the work (Williams, 2010). Daft (2011) adds the coordinating others to meet the new challenges becomes a crucial task for modern management. Passage with time, the requirement of

Asforthe word ‘management’, there has been long debate about its meaning. For our purpose, we take the perspective of the functions that managers

Henri Fayol was an Engineer and French industrialist. He recognizes the management principles rather than personal traits. Fayol was the first to identify management as a continuous process of evaluation. Fayol developed five management functions. These functions are roles performed by all managers which includes planning, organizing, commanding, coordinating and controlling. Additionally, he recognizes fourteen principles that should guide management of organizations.

The world of business has undergone radical and dramatic changes in the last decade changes that present extraordinary challenges for the contemporary manager. A manager is an organizational member who is responsible for planning, organizing, leading, and controlling the activities of the organization so that the goals can be achieved. According to a widely referenced study by Henry Mintzberg, managers serve three primary roles: interpersonal, informational, and decision-making. Management is process of administrating and coordinating resources effectively and efficiently in an effort to achieve the goals of the organization.

Henri Fayol’s theory was almost a century old and was originally written in French. Further review on several journal articles has led to an overview background of Fayol’s working life which provided the foundation that conceptualized his theory. According to Wren (2001), Fayol was appointed as the Director in a mining company, Decazeville, where he succeeded to turnaround the company to become profitable. Fayol was the first person to classify the functions of a manager’s job. Fayol (1949; as cited in Wren, 2001) identified five key functions in managerial works.as planning, organising, command, coordination and control. Planning consists of any managerial work that involves setting goals and coordinating actions to

There many classical management approaches that have shaped what management is today. In specific, Henri Fayol had major contributions to the world of management through his five published rules of management. These rules of management to the four functions of management, planning, organizing, command, and coordination. He stated that the five guidelines of management were foresight, organization, command, coordination, control. Foresight is when you complete a plan for the future. The first rule, Foresight involves the construction of a plan for the organization’s future. This rule relates to the planning function of management as firms today also create strategic plans or furthering the given organization's success. The second rule, Organization is the duty that provides the company resources to actually implement the plan, this rule coincides with the organizing function of their group. Command is the third managerial rule that Fayol introduced and what he meant by this is, command is needed to lead and inspire workers to complete a certain goal. This managerial rule relates to the leading function of management because the leading function of managing makes sure that a task is completed. Coordination is the fourth managerial rule introduced by Fayol, and it means to fit diverse employees and efforts together in order to solve a problem. This relates to the leading function of management as well because it the function is concerned with getting problems solved and leading

Administrative theory is a theory that emphasizes the perspective of senior managers about the guidance to design an organization as a whole. Generally, it is a formalized administrative structure which is relevant to their responsibilities. Therefore Henri Fayol, a French mining engineer and executive has summarized his management experiences which is known as Fayol’s Fourteen Principles of Management. His intention was on how managers should accomplish their managerial duties. Henri Fayol discussed the fourteen principles which is Division of work, Authority, Discipline, Unity of Command, Unity of Direction, Subordination, Remuneration, Centralization, Scalar Chain, Order, Equity, Stability, Initiative and Esprit de corps. These

“Management is the planning, organizing, leading, and controlling of mankind and other resources to achieve organizational goals efficiently and effectively (University, p 4 2011)”. The greatest achievement of an organization is to provide goods and services that customer’s value. The managerial department of an organization has the power to determine the performance of the employee’s, which directly affects the quality of the service or product that is being supplied to the customer. “Managerial tasks are essential for effective management, which involves planning, organizing, leading, and controlling (University, p 6 2011)”. Planning is the process of identifying the suitable goals of an organization and how they will be implemented in the company. Organizing is the procedure that determines the departments of an organization. When departments have been established the next step is to decide who will work best at a particular job. The development of organization inside a business will form the organizational structure for the company. “Leading is the ability to inspire and organize individuals to work as a team to complete the goals of the business in an efficient and effective manner (University, p 9 2011)”. Controlling is being able to assess the procedures of a company and eliminate or change any strategy plans that are not showing high- performance levels. Controlling may consist of monitoring

Managing has become one of the most important human activities today. As society continues to rely on team effort, and many organisations have expanded into different departments, the work managers perform has gained some importance and complexity; thus managerial theories has become essential.

In today’s ever changing economy, society’s idea of management is becoming increasingly more difficult to sustain with the continuous demands of the position. A successful manager must have a certain level of expertise and problem solving techniques to carry out the daily tasks required. Over the years, there have been various ideas on what management is, such as planning, organizing, leading and controlling.

➢ Management is become very important in today 's complex society, as more organizations are formed everyday. So management is very much essential in these organizations to plan organization direct and control

The paper will explore different theories of Management, include Henri Fayol and Henry Mintzberg. This section of this paper provides an overview of functions, roles and skills required of a manager. What is Management? Management can define as the process of reaching organisational goals by working with and through people and other organisational resources. (Management Innovation, 2008).

According tot the Administrative Management Theory, management is the process of getting certain tasks completed through the use of people. In this theory developed by Henri Fayol, he believes that it was very important to have the use of a multiplied of people instead of just relying on one person alone. Henri Fayol is known today as the “Father of Modern Management”, his theory has shaped what is know today as the Administrative Model, which relies on Fayols fourteen principles of management. These principles have been a significant influence on modern management; they have helped early 20th century manager learn how to organize and interact with their employees in a productive way. Fayols principles of management were the ground work in which his theory was formed. He believed highly in the division of work throughout a project and within the project he believed that the task at hand had to be done with a certain level of discipline in order for the division of work to be able to run smoothly without error.

By the time Henri Fayol had finished his theory, General Industrial Management, in 1916, which was based on his reminiscence as a successful turnaround of a major mining company from depths of failure; he set out to illustrate management as being a separate entity to other jobs within an organisation as he would say although “technical” and “commercial” “function” were “clearly defined”, “administrative” education was lacking. In his theory he introduced his five duties a manager had to follow to be called effective: plan, organise coordinate, command, and control and added to this fourteen principles he felt managers should use as reference to conduct the five duties. However Fayol was very much an idealist his theory was based on what a complete manager should be like and gave the view of managers taking control from behind a desk, yet critics, most influential being the academic Henry Mintzberg, who released his work in 1973, were more realists and saw a manager life as chaotic, involved and interactive, arguing what Fayol was portraying is not possible, and outdated.

Management is one of the most important human activities and has critical impact on life, growth, development or destruction of an organisation. In an organisation, managers with any rank or status should understand their basic duties i.e. maintaining a sustainable conductive environment where people can fulfil their commitments and objectives through collaborative approach. (Akhtar, 2011) A manager is responsible to achieve the business’s goals, visions and objectives by planning, organising, leading and controlling. Dubrin (1994) stated that in every organisation each member of staff must plan, organise, make decisions, and control the resources they need to accomplish the results expected