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Management (or managing) is the administration of organizations, whether they are a business, a nonprofit organization, or a government body. The following outline provides a general overview of the concept of management as a whole.
Business management – management of a business – includes all aspects of overseeing and supervising business operations. Management is the act of allocating resources to accomplish desired goals and objectives efficiently and effectively; it comprises planning, organizing, staffing, leading or directing, and controlling an organization (a ...
According to Fayol, management operates through five basic functions: planning, organizing, commanding, coordinating and controlling. Planning: Deciding what needs to happen in the future and generating action plans (deciding in advance). Organizing (or staffing): Making sure the human and nonhuman resources are put into place. [65]
According to Fayol, the five functions of management are planning, organizing, commanding, coordinating, and controlling. Without proper business management, a firm cannot utilize its resources properly so, it is the most important term in running a business firm. [5]
5S methodology 5S resource corner at Scanfil Poland factory in Sieradz. 5S (Five S) is a workplace organization method that uses a list of five Japanese words: seiri (整理), seiton (整頓), seisō (清掃), seiketsu (清潔), and shitsuke (躾).
This psychological concept proposed that how one viewed human relationships to those of an enterprise determined their style of management. Theory X proposes that people inherently lack the motivation and desire for responsibility and need to be closely supervised, directed, and tightly controlled in order to achieve team objectives. [ 3 ]
Strategic management involves the related concepts of strategic planning and strategic thinking. Strategic planning is analytical in nature and refers to formalized procedures to produce the data and analyses used as inputs for strategic thinking, which synthesizes the data resulting in the strategy.
According to modern concepts, control is a foreseeing action; earlier concepts of control were only used when errors were detected. Control in management includes setting standards, measuring actual performance, and taking corrective action in decision making.
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