Global Theory of Management from Management Theory Jungle

Global Theory of Management
Today, there are many schools of management. There are also many management experts. Each school and each expert gives their own theory about management. They say that their theory is right, and the theories of the other experts are wrong. There are so many management theories. We cannot say, which one right and, which one is wrong. This has caused a lot of confusion

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Business Objectives - Meaning Types Nature Characteristics

Business Objectives - Meaning
Business objectives are the goals, aims or purpose of the business. The business tries to achieve these goals. Profit is the main objective of business. However, the business cannot have only one objective. This is because it has to satisfy different groups such as shareholders, employees, customers, creditors, etc. So, it has to fix objectives for each group.Image

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What is Job Enrichment? Meaning Features Advantages

What is Job Enrichment? Meaning
According to Robert N.Ford, Job enrichment means to make jobs which:-Have a greater variety.
Requires higher level of knowledge and skills.
Give workers more autonomy.
Give workers more responsibility.
Give workers opportunities for personal growth, and
A meaningful work experience.The meaning of Job enrichment is depicted in the following image or picture.Job

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Factors Affecting or Influencing Decentralisation

Factors Affecting Decentralisation
The ten important factors affecting or influencing decentralisation are:-
1. Size of the organisation
Large organisation makes a lot of decisions. Their decisions are taken at different levels. So large organisations are more decentralised. Small organisation makes few decisions. All their decisions are taken at the top level. So small organisations are less

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How To Make Matrix Organisation Effective?

How To Make Matrix Organisation Effective?
The matrix organisation can be made effective by adapting following points:-
1. Clarity of Roles
The roles of the functional managers and project managers must be clearly defined. The functional manager has authority for technical matters. The project manager has authority for coordinating and controlling the job.
2. Proper Team Selection
The matrix

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Five Bases of Power by John French and Bertram H. Raven

Five Bases of Power
In 1959, social psychologists John R. P. French and Bertram H. Raven identified five sources or forms of power from which a person gets power. These sources are now known as French and Raven's Five Bases of Power.The French and Raven's five bases of power are briefly explained as follows:-
1. Referent Power
Referent power is also called as personal power, chairismatic power,

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Difference Between Authority and Power in Management

Difference Between Authority and Power
The terms Authority and Power have different meanings in management.Image Credits © x3nomik.Authority is the right given to a manager to achieve the objectives of the organisation. It is a right to get the things done through others. It is a right to take decisions. It is a right to give orders to the subordinates and to get obedience from them. A manager

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What is Functional Authority? Meaning Features Advantages

What is Functional Authority? Meaning
In an organisation, there are three types of authority.Line Authority is given to line managers for achieving the objectives of the organisation.
Staff Authority is given to staff managers for giving advice and service to the line managers.
Functional Authority is given to a line or staff manager to do a specific job. When the job is completed, the authority

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What is Forecasting? Meaning Features Steps Importance

What is Forecasting? Meaning
Forecasting is a process of predicting or estimating the future based on past and present data. Forecasting provides information about the potential future events and their consequences for the organisation. It may not reduce the complications and uncertainty of the future. However, it increases the confidence of the management to make important decisions.

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What is Decision Making? Meaning Definition Articles

What is Decision Making? Meaning
The English word 'Decision' originated from the Latin word 'decisio' which means "to cut from."
'To decide' means "to come to a conclusion" or "to pass a resolution."
Image Credits © Vasi.
Decision making means to select a course of action from two or more alternatives. It is done to achieve a specific objective or to solve a specific problem.
Definition of

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Importance of Decision Making in Management

1. Better Utilisation of Resources
Decision making helps to utilise the available resources for achieving the objectives of the organisation. The available resources are the 6 Ms, i.e. Men, Money, Materials, Machines, Methods and Markets. The manager has to make correct decisions for all the 6 Ms. This will result in better utilisation of these resources.
Image Credits © Sameer Akrani.
2.

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Systems Approach To Management by Bertalanffy

Systems Approach To Management
The word System is taken from a Greek language which means to bring together or to combine. A system is a set of inter-related parts, which work together to achieve certain goals.
Image Credits © Pablo Alfieri.
Ludwig von Bertalanffy is called the Father of the Systems Approach.According to Ludwig von Bertalanffy, "In order to understand an organised whole, we must

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Non-Programmed Decisions in Management - Techniques

Non-Programmed Decisions in Management
Non-programmed decisions are used for new, unstructured and badly defined problems, which are non-recurring. These decisions require subjective judgement. The top-level of management makes these decisions.Modern Approaches / Techniques for making non-programmed decisions.Figure 1. Non-Programmed Decision Making in Management.
1. Brainstorming Technique
The

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Modern Techniques For Making Programmed Decisions

Modern Techniques for Programmed Decisions
A programmed decision is used to solve routine, repetitive but complex problems. These techniques are also called as Quantitative Techniques. The managers working at lower-level of management make these decisions.Various Approaches or Techniques for making programmed decisions are:-
Figure 1. Programmed Decision Making Techniques.
1. Linear Programming

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What is Span of Control? Meaning Definition Articles

What is Span of Control? Meaning
The term "Span of Control" is made of two words, viz., "Span" and "Control".Span's literary meaning says, it is the distance between the tip of a thumb and small finger when palm of hand is fully stretched out. However, in terms of management and administration, it means the maximum extend or the number of people that can be reached by.Control in literary means

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Advantages of Selecting an Appropriate Span of Control

Advantages of Appropriate Span of Control
The Span of Control should not be too wide (large) or too narrow (small). If the span is too wide, then the personal supervision is difficult and the control will be ineffective. On the other hand, if the span is too narrow, then there will be excessive (too much) supervision of the subordinates. This will affect their work. So it is desirable to select

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Factors Affecting Span of Control or Span of Management

1. Qualification and Qualities
If the superiors and subordinates are well-qualified, trained, experienced, and if they are experts in their jobs then the span of control will be wide and vice-versa.
Image Credits © Heinz College
2. Level of Management
If the superiors are working at the top-level of management, then they have more responsibilities. Therefore, their span of control will be

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Graicunas Theory of Span of Control - Example and Formula

Graicunas Theory of Span of Control
Vytautas Andrius Graiciunas (1898-1952) was a Lithuanian french management consultant, management theorist and engineer.Image Credits © Verslo Naujienos.In 1933, he published a paper called "Relationship in Organisation." In this paper, he mentioned three types of Superior-Subordinate relationships, viz.,Direct Single Relationships,
Direct Group Relationships,

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