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D Emand F Orcast Essay

2321 words - 9 pages

Definitions[edit]Views on the definition and scope of management include:Management is defined as the organization and coordination of the activities of an enterprise in accordance with certain policies and in achievement of clearly defined objectives[citation needed ]Fredmund Malik defines it as "the transformation of resources into utility."Management included as one of the factors of production - along with machines, materials and moneyPeter Drucker (1909-2005) saw the basic task of a management as twofold: marketing and innovation. Nevertheless, innovation is also linked to marketing (product innovation is a central strategic marketing issue). Peter Drucker identifies marketing as a key essence for business success, but management and marketing are generally understood[by whom? ] as two different branches of business administration knowledge.Andreas Kaplan specifically defines European Management as a cross-cultural, societal management approach based on interdisciplinary principles.[2]Directors and managers should have the authority and responsibility to make decisions to direct an enterprise when given the authority[citation needed ]As a discipline, management comprises the interlocking functions of formulating corporate policy and organizing, planning, controlling, and directing a firm's resources to achieve a policy's objectivesThe size of management can range from one person in a small firm to hundreds or thousands of managers in multinational companies.In large firms, the board of directors formulates the policy that the chief executive officer implements.[3]Theoretical scope[edit]Management involves identifying the mission, objective, procedures, rules and the manipulation of the human capital of an enterprise to contribute to the success of the enterprise. This implies effective communication: an enterprise environment (as opposed to a physical or mechanical mechanism), implies human motivation and implies some sort of successful progress or system outcome. As such, management is not the manipulation of a mechanism (machine or automated program), not the herding of animals, and can occur in both a legal as well as illegal enterprise or environment.Management does not need to be seen from enterprise point of view alone, because management is an essential function to improve one's life and relationships. Management is there everywhere and it has a wider range of application. Based on this, management must have humans, communication, and a positive enterprise endeavor. Plans, measurements, motivational psychological tools, goals, and economic measures (profit, etc.) may or may not be necessary components for there to be management. At first, one views management functionally, such as measuring quantity, adjusting plans, meeting goals. This applies even in situations where planning does not take place. From this perspective, Henri Fayol (1841-1925)[4] considers management to consist of six...

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