Fundamentals of Management
Introduction
As stated by Bateman, Thomas and Scott, every organisation that is committed to accomplishing or achieving specified objectives need to have a set of management concepts (18). The organisation may be a large business or a company committed to another sphere of activity, whatever type of the business structure, they all require the application of management concepts to facilitate both strategic and or tactic objectives. Apparently, large sums of money, personnel, and resources are at stake; hence, it is substantial to have specific management concepts to effectively and efficiently utilise, organise and control the factors of production (Bateman, Thomas and Scott 19). Nevertheless, management concepts are essential as they heighten the organisations to their desired level, leading them towards enhancing total organisational competencies. Therefore, the paper discusses the key management concepts, outlines their importance in the modern organisation, and illustrate how managers can utilise those ideas to create value in an enterprise.
Key Management Concepts
Apparently, there are five concepts of management, which includes functional, human relation, leadership and decision-making, …show more content…
The purpose of implementing the controlling process is to take care of the business plan. With the assistance of controlling concept, deviations are consequently detected and corrective responses exercised (Griffin & Ricky 121). Another implication is the proper utilisation of resources. As explained above, factors of production are always on scars supply. However, control measures make sure that all the factors of production are used suitably. Improving the employees’ motivation is another benefit where the implementation of control procedures make all the workers conduct their duties with complete dedication as they understand that their job performance will be
Introduction
As stated by Bateman, Thomas and Scott, every organisation that is committed to accomplishing or achieving specified objectives need to have a set of management concepts (18). The organisation may be a large business or a company committed to another sphere of activity, whatever type of the business structure, they all require the application of management concepts to facilitate both strategic and or tactic objectives. Apparently, large sums of money, personnel, and resources are at stake; hence, it is substantial to have specific management concepts to effectively and efficiently utilise, organise and control the factors of production (Bateman, Thomas and Scott 19). Nevertheless, management concepts are essential as they heighten the organisations to their desired level, leading them towards enhancing total organisational competencies. Therefore, the paper discusses the key management concepts, outlines their importance in the modern organisation, and illustrate how managers can utilise those ideas to create value in an enterprise.
Key Management Concepts
Apparently, there are five concepts of management, which includes functional, human relation, leadership and decision-making, …show more content…
The purpose of implementing the controlling process is to take care of the business plan. With the assistance of controlling concept, deviations are consequently detected and corrective responses exercised (Griffin & Ricky 121). Another implication is the proper utilisation of resources. As explained above, factors of production are always on scars supply. However, control measures make sure that all the factors of production are used suitably. Improving the employees’ motivation is another benefit where the implementation of control procedures make all the workers conduct their duties with complete dedication as they understand that their job performance will be