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Management Theory and Practices : Assignment

   

Added on  2020-01-23

5 Pages1630 Words58 Views
Leadership Management
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Management Theory andPractices
Management Theory and Practices : Assignment_1

Evolution of management theory can be understood in a way that from the last century,role of leaders in organisations is getting changed on constant basis. Earlier, in industries, theleaders were assumed to be evolved from the carrot-and-stick wielding owner-managers.However, presently, the concept is considered as Servant Leaders of the 21stCentury. In today’sear, the role and impact of individual leaders or organisations has become highly significant.Thus, it can be said that if the leader are not effective and efficient enough to make employeeswork in the required and desired manner, expecting to attain the set targets is of no use. In thepast century, managers in the firm could rely on authority and strong-arm tactics in order toattain the predetermined goals of organisation (Hill, Jones & Schilling, 2014). However, now-a-days, it is not possible as in the present scenario, servant leaders are needed to set their ownexamples by living the values which they desire to be followed by the followers, that is,employees or workers. With the past information, it can be said that formal study of management came intoexistence late in 19th century. The major reason behind this is that development of managementas a science was required as per the changing scenario of business. Therefore, from 19th centurywhen the concept was “entrepreneurial capitalism”, it changed to “managerial capitalism” in 20thcentury. Earlier, there were capitalists only who used to invest their capital in business as theyare the owners. However, with the changing scenario, when scope of business got increased, itwas not possible to manage the funds by own and thus, outsiders were approached to providecapital. Through this, the gap between owners and shareholders got increased and thus, newmanagement challenges were brought in the business (Bratton & Gold, 2012). Due to the same,new management theories have evolved and practiced in the contemporary workplace. Here,there will be discussion on different theoretical concepts with reference to Hilton Hotel, UK. The first theory of management was given by F.W. Taylor, that is, scientificmanagement. According to him, it is the responsibility of management only to design the jobsand tasks in a proper manner and when employees perform their assigned tasks effectually,incentives should be provided to them so that their productivity can be increased. Here, the mainemphasis was on management. Taylor has studied the way in which workers and machinesperform their tasks on measurable basis. According to the same, he has given standard times andsequences in which each task should get completed. Through this, managers were provided withrealistic production standards for per man and machine that has to be achieved in an hour1
Management Theory and Practices : Assignment_2

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