LSME004: Evolution of Management Theory & Practice

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Added on 2021-02-24

LSME004: Evolution of Management Theory & Practice

Added on 2021-02-24

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Name: Evolution of Management Theory & PracticeCode : LSME004

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IntroductionEven before knowing what management is, human civilization has started using today'smanagement techniques. The depth of this observation can be found whether one looks at theprocedure of cooking, in the calculation during hunting, and so on. Let's go through the fantastictopic, "Management," and see its journey from the beginning.This era is divided into threecategories, which are discussed below :DiscussionPre-industrial eraThe earliest form of management originated from the guild in the fourteenth century. Guild was acommunity that used to keep a check on the goods' production and sales in that particulargeographic area. They ensure that no craftsmen were affected and deprived of the benefits one ishaving. The concept of sales and competition hadn't been experienced in that era. Grace andworking for the whole's advancement were the primary concern of the craftsmen and the societyhead of that time. The business was mostly regulated through the church's beliefs and theregulations the church authority prefers to implement. The craftsmen had job security then as theproduction of the goods was limited, and there's no tendency to make money out of money. Theguild is somewhat similar to our cooperative organization now. Slowly after the medieval era, artisans started having their shops to display products that were ofexcess. And the seed of competitiveness started from there. Capitalism and the Bourgeois grew,which means people started thinking to make money out of money. The focus, which was onland acquisition, earlier transferred into money maximization (Montiel, Park and Antolin-Lopez,2020). The significant change came in the Business Social system. Churches, which were used to guidethe business management through its' religious values, started losing their authority as themerchant princes started influencing the decisions taken by church and state. That resulted inlosing control over the effective competition. The rise of competition was growing higher, and

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artisans and dealers who used to have job security earlier started having doubts. This is the timewhen Individualism started hitting on too. Another incident completely changed the attitude towards work, business, and fate in the latefifteenth century. This was The Protestant Reformation, which originated from Germany and waslater led by Martin Luther and John Calvin. Tax, corruption of churches were all exposed. Thedependency on the church for the business came to zero when Luther said that it should be God,who is in charge of deciding what is going to happen with whom, who is the person that will besaved, who is the person that should be punished and looked upon, the control of earthly mattersare a decision that an individual is going to take for his own (Grau-Sologestoa, 2015). This was the phase that transferred the focus of people from Eternity to Prosperity in this life.Luther also proclaimed that hard work is the only key that would bring happiness and success.Establishing hard work and declaring that people can take control of the earthly matters of theirlife motivated some businessmen so much that they forgot the basic rule set by Luther - nottaking advantage of the unfortunate. Conflict ethics started replacing cooperative ethics, whichultimately decreased each other's effort rather than uplifting one. The business environment ofgrace and community turned into self-development or can say, the business became network thanfamily (Panchak, 2021). Management practices with Industrial revolutionThe industrial revolution took place between 1760 - 1900. But the origin and the emergence ofthis was started long before that (Lamb, 2012). It was when the word management wasintroduced in the English vocabulary by John Florio from Italy. Let's go through how both theindustrial revolution and management grew together during this era:The renaissance, with its ideals, entered into the British empire during the 1485 - 1603 century.That was when the British empire was blooming in trade with its' Hudson's Bay Company andEast India Company. These two were spreading worldwide with collaborating products fromtheir home country and the nations under the reign of Great Britain. This trade situation peak

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