Modern Managment Theories an Practices

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Managing is one of the most important human activities. From the time human beings began forming social organizations to accomplish aims and objectives they could not accomplish as individuals, managing has been essential to ensure the coordination of individual efforts. As society continuously relied on group effort, and as many organized groups have become large, the task of managers has been increasing in importance and complexity. Henceforth, managerial theory has become crucial in the way managers manage complex organizations.
The central thesis of this paper is that although some managers in different parts of the world could have achieved managerial success without having basic theoretical knowledge in management, it has to …show more content…

Finally, organizational leadership should be developed along lines of interpersonal relationship, teamwork, self-motivation to perform, emotional strength and maturity to handle situations, personal integrity, and general management skills.
Management Objectives, Functions, Goals, and Essentiality
Management Objectives
There are basically three management objectives. One objective is ensuring organizational goals and targets are met – with least cost and minimum waste.
The second objective is looking after health and welfare, and safety of staff. The third objective is protecting the machinery and resources of the organization, including the human resources.
Management Functions
To understand management, it is imperative that we break it down into five managerial functions, namely; planning, organizing, staffing, leading, and controlling. Planning involves selecting missions and objectives and the actions to achieve them. It requires decision-making – i.e., choosing future courses of action from among alternatives. Plans range from overall purposes and objectives to the most detailed actions to be taken. No real plan exists until a decision – a commitment
of human and material resources – has been made. In other words, before a decision is made, all that exists is planning study, analysis, or a proposal; there is no real plan.
People working together in groups to achieve

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