Management Theory 1 Contemporary Issues in Management Customer’s Name Course name and number Instructor’s name Date submitted
Management Theory 2 Contemporary Issues in Management Introduction The management theory explains the processes of business management and leadership approaches which define the duties of managers. According to the management theory, management is seen by many as the task of organizing, leading, controlling, and planning. These are essential duties which determine the success of business organizations. Mangers are also called upon to use all available resources so that they can achieve the best performance processes and objectives. Different scholars have contributed a lot to the management theory through their endless studies and research work. One of these contributors is Peter F. Drucker. This research paper highlights the contributions of Drucker into contemporary management theory. Background Theories are important and help scholars explain the past thus making it possible for them to understand the current issues and also predict the future. This influences future events and also prevents the unexpected issues and problems. There is a wide range of management models which appear contradictory and confusing (Waring, 1994, p. 27 ). For very many years, researchers and business experts have always been studying such variables and as a result coming up with different contexts and explanations for different developments. However, some of the variables and explains do not always relate to one another. This is the reason we have a wide number of scholars who have made great contributions to different theories. As discussed above, there are unique aspects that define management theory. The first aspect is planning which deals with the overall approach and direction regarding the work that needs to be done. Planning is important according to the theory because it helps managers and leaders adopt the necessary strategies which will be beneficial to the company or organization.
Management Theory 3 Organizing is also an important aspect of management. Managers and organizational leaders are entitled with the activity of presenting necessary plans such that the stated plans are brought closer to realisations (Wagdre, 2008, p. 23 ). This is achieved by deciding how to allocate effort and time. The other important role of management is leading. Leading involves the activity and process of generating new ideas, leadership approaches and offering endless commitment towards meeting the targeted business objectives. Management theory also emphasizes on controlling as another important duty of managers. Controlling is the continued process of ensuring all the events in the organization are carefully monitored and ensure they are aligned to the plans. This will definitely lead to corrective actions and processes. For the entire management process to be successful, these aspects should be carefully considered thereby promote functionality of organizations. This will