The Theory Of A Management Theory

1954 Words8 Pages
A management theory is a collection of different ideas that are used to outline the general rules for how a business or organization will manage itself (Business Dictionary, n.d.). Every organization uses management or managerial theories as the foundation in which they use to implement, help increase productivity, and service quality (Hawthorne, n.d.). An organization doesn’t use just one theory or concept when implementing their strategies but actually they use a combination of theories that work best for their workplace, purpose and workforce (Hawthorne, n.d.). It turns into a mixture of different theories that is blended for exactly what the organization needs. Not many organizations are going to openly publish what managerial theories they use to keep their company going. It’s not good to show your hand of cards to your competitors. It only makes you weaker and they know what your game plan is. So as an internal employee and based off what I know about the organization I work for, I’m going to analyze and theorize on the approach that State Farm takes based on what I know about their internal culture and business strategies. State Farm has five different lines of business; property and casualty insurance, life and health insurance, annuities, mutual funds, and banking products (State Farm, 2015). State Farm was built on a collection of shared values that includes; quality service and relationships, mutual trust, integrity, and financial strength (State Farm, 2015).
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