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Building A Successful Business Empire

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INTRODUCTION;

All businesses aim to be successful and well off; but this does not just happen by the snap of your fingers, rather needs to be organized in each possible step.
One of the main steps to this is; management. Thus, I shall begin by defining and explaining what management itself is.

Management according to Management Innovations, 2008, is ‘the process of reaching organizational goals by working with and through people and other organizational resources’. This statement basically says that when a company wans to achieve certain goal(s), they will have to work together as a team so that everything is organized, and the team must have a leader to rule it in the correct path. Whilst managing the company, there needs to be full
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MANAGEMENT PHILOSOPHIES; these are different strategies that leaders choose to use to lead their group, so that they would be motivated to work and how each employee should be treated. The main function of management philosophy is to make the decision making process fast and efficient. (Management Philosophy, Business Dictionary, 2015)

A couple of management philosophies are classical management, behavioral management, quantitative, systems, contingency and quality.

I will talk about 2 management theories and also about their advantages and disadvantages (pros and cons).

1) BEHAVIOURAL APPROACH;
This is also known as human relation movement. In this type of school, the theorists believe that they should try to understand the different factors that may influence the human behavior of an employee at work. (School of thought management, 2011)

There are some theorists who have investigated onto this theory. one of them is; Elton Mayo; he believed that workers were not just motivated by they pay they get, but would be more motivated if their social needs are satisfied alongside working. He concluded by saying that employees work better in groups, and they are motivated by the good available communication between themselves and their managers. (Behavioral Management, Cliff Notes, 2015)

Advantages;
a) Work satisfaction; it will motivate them to work hard and will be satisfied since they will be getting benefits alongside the pay.
b) Increased self
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