Management theory is important because it is the study of how to make all the people in your organization more productive. If you are self-employed and have others working for you, or you outsource certain jobs you are unable to do, then you know how hard it is to find qualified competent professionals to provide you a service or work for you. You want to maximize labor productivity and learning how to manage people is key.
The key to business management is to maximize productivity. However, while management theory does aim towards getting a group of entities to achieve a certain goal, it does not necessarily achieve in making people more productive towards this cause. Times are shifting rapidly and the loss of key gurus, like Peter Drucker, in recent times, bears certain implications. The key contribution in having management theory lies in what has been achieved by the differing schools of thought within our history. This may serve as a guide, but one must also bear in mind that management is not just a science, but also an art.
There are many benefits to knowing management theory. First of all management theory doesn't just teach someone how inspire employees to be more productive, it also shows managers how to be good bosses. It is key for them to know how to deal with issues that may exist in the workplace. Managers have to efficiently deal with these issues and simultaneously maintain a stable or improving level of productivity. With management, you have to balance a multitude of tasks daily and being familiar with management theory can help greatly.
Management theory is important because it is the study of how to make all the people in your organization more productive.
system management chaos theory freedom-based management theory contingency theory
what is administration management theory
system management chaos theory freedom-based management theory contingency theory
system management chaos theory freedom-based management theory contingency theory
How does Theory Z influence management styles?
Advantages and disadvantages of classical management theory?
Compare and contrast the theories of scientific management with that of the human relations management approach.
Behavioural science approach,management science & contigency theory
HENRY FAYOL is the father of modern operational management theory.
what are the concepts of management theory jungle and how nigerian managers can benefit from this theory.
The scientific management theory by Taylor stressed on industrial efficiency and introduced the concept of "piece rate". Where as human relation management theory by mayo suggest that human resource can be motivated by incentives.