Chapter 4 - Chapter 4 The meaning of management What is...

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Chapter 4 – The meaning of management What is management? o Management can mean many things: The field of study called management- like sport management A group of people at the top of an organization – “the management” The actual process of managing an organization Defining management o 3 common elements: There are goals/objectives to be achieved Limited resources With and through people o Fundamentally management is about coordinating these 3 elements o More simply What has to be done – and just as important: what shouldn’t be done How does it have to be done Do the same, but better Do something different Who has to do it Effectiveness and efficiency o Management is concerned with effectiveness in achieving its goals o Management is concerned with efficiency ; maximizing the benefits for a given cost (or the other way around: minimizing the costs for a certain benefit) The six theories o Scientific management theory o Human relations movement theory o System theory o Stakeholder theory o Institutional theory o Resource dependency theory o Each of these theories offer us a different and unique perspective on the organization and focuses on different issues in an organization Classic theories in management – Scientific management theory o Taylor (1911) – “work can be analyzed scientifically”
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This note was uploaded on 11/13/2011 for the course KIN 316 taught by Professor Smith during the Spring '11 term at University of Texas at Austin.

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Chapter 4 - Chapter 4 The meaning of management What is...

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