The paper "Modern Approaches to Management" is a great example of a business assignment. Management, according to the business dictionary is the organization and coordination of the activities of a business in order to achieve defined objectives. There is no generally accepted definition of management as an activity, although the classic definition is still held to be that of Henri Fayol. As described by Fayol, managing involves forecasting and planning, organising, commanding, coordinating and controlling (Cole, 2004). Management is tasked with coordinating and overseeing other people’ s work activities so that efficiency and effectiveness are achieved in the course of activity completion.
In this case, organizational effectiveness refers to the degree to which the projected goals of the organisation are achieved. It also refers to the degree to which an organisation succeeds in what it does. As such, it entails the provision of products and services that are valued by customers. On the other hand, organisational efficiency refers to the number of resources used by the organisation to achieve its goal. It entails the use of minimal resources, i.e. people’ s workforce, raw materials; money e. t.c.
to produce a projected amount of output of a given quality (Daft & Marcic, 2008). The basic task of management involves both marketing and innovation. According to management guru, Peter Drucker, management involves various interlocking functions. This includes but not limited to, planning, organising, creating corporate policy, directing and controlling of organisation’ s resources so as the effectively achieve the projected organisation’ s policy objectives. This paper will attempt to trace back management practice from its historical foundations, mapping it through the course of time to what it is in the 21st Century.
The dynamism in management practice, the concepts that define it today will be illustrated using the Coles Supermarket as a case study. Historical Foundations of Management An organisation can be defined as a simple or sometimes complex system of two or more people engaged in actions that suggest cooperation in order to achieve a common goal.
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