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7September 2018

Modern Theories of Management And Its Practices

From our birth till death, one thing that we keep hearing and practicing is managing. By the time we gain consciousness about things, we start managing, first our books and belongings and then our time and life. A good manager is one who efficiently manages everything and take out time for all important things in his/her life.

So, management is the primary things in our life and we all do it intentionally or unintentionally. But, with the change in time, the theories of management or managing has changed drastically. There is lots of change and new theories are developing.

What is The New Definition of Management?

According to the new definition, the management is the art, of accomplishing goals with the help of people. The managers these days are involved in supervision related task, but their main role is , to make that sure people are doing what they are expected to do.

Therefore, it is expected from managers that they ensure higher using the available resources and lead the continuous improvement’.

In a broader term, the management is the task of designing as well as maintaining a kind of environment in which people comfortably work and accomplish the selected aims efficiently.

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If the definition mentioned above is expanded, then the basic definition establishes several things. The first thing is, as managers, the person should carry out the functions related to management like planning, staffing, organizing, controlling and leading. The second thing management applies to all types of organization. The third thing is, the management relates to all the managers in an organization at every level. The fourth is the purpose of managers in an organization is more or less same and this is creating a surplus amount of products and services. At the last, the managing is associated with productivity and it’s meaning is efficiency and effectiveness. Hence, the meaning of management is the development of bureaucracy that obtains its significance from the coordination, strategic planning as well as controlling and managing and directing of typical and big decision-making process requirement. Therefore, according to the new theory, the meaning of management is the achievement of managerial ability in the following important sectors, that is, administration, solving problems, resource management and human organization of human leadership.

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Objectives of Management

Primarily, there are three important management objectives that hold equal significance. The first aim of management is ensuring that all the goals and targets of a particular organization is met that to at the least possible cost and minimum wastage. The second one is to look after staff. The third objective is protecting the organizational resources and machinery and this includes human resources as well.

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