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Management (or managing) is the administration of organizations, whether they are a business, a nonprofit organization, or a government body through business administration, nonprofit management, or the political science sub-field of public administration respectively. It is the process of managing the resources of businesses, governments, and ...
Peter Ferdinand Drucker (/ ˈ d r ʌ k ər /; German:; November 19, 1909 – November 11, 2005) was an Austrian American management consultant, educator, and author, whose writings contributed to the philosophical and practical foundations of modern management theory.
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.
Management by objectives (MBO), also known as management by planning (MBP), was first popularized by Peter Drucker in his 1954 book The Practice of Management. [1] Management by objectives is the process of defining specific objectives within an organization that management can convey to organization members, then deciding how to achieve each objective in sequence.
Organizational theory refers to a series of interrelated concepts that involve the sociological study of the structures and operations of formal social organizations. Organizational theory also seeks to explain how interrelated units of organization either connect or do not connect with each other.
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 ]
POSDCORB is an acronym widely used in the field of management and public administration that reflects the classic view of organizational theory. [1] It appeared most prominently in a 1937 paper by Luther Gulick (in a set edited by himself and Lyndall Urwick). However, he first presented the concept in 1935. [2]
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.