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Management Theory Magazine Flipbook PDF
Management Theory Magazine
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Management Theory Magazine Student Name: Module Title:
Table of Contents About me- My Background ....................................................................................................... 1 Management ............................................................................................................................... 1 Management and its Concepts ................................................................................................ 1 Historic Context...................................................................................................................... 1 Scientific Era .......................................................................................................................... 2 Historical influences .................................................................................................................. 2 Environment Issues................................................................................................................. 2 Management Skill Types ........................................................................................................ 3 Management Skill ................................................................................................................... 3 Skill Gaps ............................................................................................................................... 3 References ................................................................................ Error! Bookmark not defined.
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About me- My Background My background will be in corporate management, having spent a few years in the offices of several SME corporations. I was mostly designated as a salesperson, but I was keen on being a manager. I was keen on doing my post-graduation management degree since I had adequate managerial skills and was still emphasising my managing capabilities, even at my previous workplaces. I have been working as an assistant manager in a UKbased mid-sized firm for the past three years. While I was applying for the job of senior manager, it was mentioned in the job portfolio that the people who are going to be selected for this job need to have good managerial skills. Mentioning managerial skills, I have good managerial skills as well, and the skill sets that I possess are good Interpersonal and communication abilities, Listening abilities, relationship-building abilities, Psychological awareness, strategic planning, decision-making process, organisation and project execution, a focus on teamwork, Addressing issues, Time management as well as conflict resolution abilities. For me, management refers to the full spectrum of management rather than just the act of managing things properly. The major reason for doing this master's program is to get in-depth knowledge of this domain so that I may improve my competency in this sector; moreover, studying in this domain would provide a lot of opportunities for my future growth, not only professionally but also personally. Finally, this management study course will assist me in establishing self-confidence and strengthening my talents.
The extensive exploration of how solitary and cooperative artisan businesspeople conduct entrepreneurial operations brought prominence to changing micro-processes within settings. As the major addition to the concept, the perspective of entrepreneurship assets and associated transformation for such micro-processes connects the study on asset transformations with the setting (Hill, 2020). This perspective emphasises the importance of social relationships and physical environmental responsibility, providing additional fine-grained perspectives on how such micro-exchange mechanisms function. These findings add to the body of knowledge on artisan entrepreneurship inside the intellectual sectors, as well as entrepreneurship and the environment. "Process" and "content" are 2 major elements in industrial strategic management literature. The strategic planning method entails "internal mechanisms like as levels of an organisation, salary structures, administrative practices, quality controls, and planning methodologies, as well as work design." This would be inextricably linked to organisational practices, leadership, and political attitudes, and while it is inherent in judgments concerning these issues. Particularly, the strategic planning process is concerned with establishing adequate execution mechanisms. The most commonly mentioned strategic elements are quality, affordability, delivery, flexibility, and technology. It concerns what must be determined and how choices are made in an organisational environment (Wu et al. 2019). Furthermore, strategy substance is concerned with the possibilities, strategies, and activities that develop strategic orientations, as well as the whole spectrum of possible strategies or managerial targets.
Management This section will describe the concept or notion of management as a discipline, and it will be an artisan interpretation. Then this section will move on to the historical context of management and describe in-depth how the historical context has influenced contemporary management thinking.
Figure 2: Historical Context of Management (Source: I.ytimg, 2022)
Figure 1: Management (Source: WikiFinancepedia, 2022) Management and its Concepts Management is described as accomplishing corporate objectives by effectively and efficiently preparing, coordinating, directing, and regulating the firm's people, physical, knowledge, and economic resources. This is termed artistry since managing demands particular talents that managers must have. Science gives knowledge, whereas artistry is concerned with implementing skills and understanding. To be effective in any job, a manager should embrace science and the skill of implementing it.
Historic Context Management has been practised since ancient times. The fundamental methods of managing date back to approximately 3000 years before Christ, when Middle Eastern clerics began keeping documents of economic transactions. In 400 BC, Socrates asserted that managing may have differed from specialised abilities and expertise. The Romans, famed for their multitudes of troops commanded by Centurions, ensured responsibility across a hierarchical structure. The Roman Catholic Church had been divided into areas with a system of authority and work instructions. A command, as well as a dominance structure, existed, comparable to the Catholic Church, having jurisdiction resting with a master and gradually decreasing towards the apprentices and trainees. These artisans constituted, in reality, tiny enterprises that produced items of uneven calibre and reduced level of production, with no need for administrative oversight beyond the master or owner craftsman. Between the 1790s and the 1800s, the Industrial Transition marked a time frame of immense turbulence and enormous changes to the way people lived. Before this period, most people were making their livelihood by cultivating or operating in remote villages. Numerous advancements took place with the development of the steam engine, such as the automatically generated motion of fossil fuel (coal) from deep mines, propelling production plants, which now mass-produced commodities initially handcrafted, as well as railroad steam trains, which could
travel materials and products throughout countries in a fast and effective manner. Industries need personnel who demand guidance and order. Since these factories grew in size and productivity, the requirement for coordination and management grew critical (Zhang et al. 2019)). Craftsmen assembled vehicles inside the 19th century, modifying equipment to match their offering. The introduction of normalised components in 1908, supplemented by Ford's breakthrough production process around 1913, reduced the amount of time necessary to produce each Model T by days, from taking up days of work to several hours.
Environment Issues
Figure 5: External Factors (Source: Open, 2022)
Figure 3: Ford’s Assembly Line (Source: Poconorecord, 2022) Skilled artisans had been no more required to make vehicles from an administrative viewpoint. The employment of lower-cost personnel and improved output from shifting manufacturing lines necessitated a necessity to direct and oversee such major operations (Tennent, Gillett and Foster, 2020). For leveraging on technological advances, an organisational structure and managerial strategic thinking were necessary. Scientific Era
Factors of technology: Organisations may benefit from technical advances or struggle to keep up as a result of technological improvements. A company that develops GPS technology for private transportation, for example, may face a downturn in income therefore as a consequence of cell phone's GPS assimilation, but they might be able to compensate by creating other commodities. Many companies, including caregivers, may be able to collect patient data, maintain hospital records, and speed medical treatment using existing procedures. Financial factors: Every facet of everyday life is affected by the status of the financial system, from all of the personnel's wellbeing to an organisation's ability to thrive. Once the financial system deteriorates and joblessness increases, businesses could be forced to work extra to keep personnel and change their processes to maintain profitability (Decker, Hassard and Rowlinson, 2021). If such a corporation produces goods for later distribution, it may contemplate decreasing the valuation to boost demand and therefore increase profits. Legislative and regulatory factors: As government officials retire as well as subsequent individuals follow in their footsteps, the legislation officials adopt typically affects enterprises in a similar industrial sector. Legal methods are routinely used by businesses to prepare for differences in governance discrepancies (Kipping and Lamberg, 2017). The tax system, customs, labor regulations, competition legislation, trade restrictions, as well as the legislation of property ownership are examples of regulatory requirements, which might have a lengthy influence on businesses.
Figure 4: Inductrial Automation (Source: Engineering, 2022) As technological innovation emerged, so did the need for enhanced efficiency and productivity. The need to comprehend how to effectively execute commerce revolved around the concept of work procedures. Management sought to investigate how work has been done or how it affected efficiency. The objective was to develop how the task was conducted. Frederick Taylor had been a key figure pioneering the development of quantifying human performance (Maclean, Harvey and Clegg, 2017). Taylor believed that its major goals of managing had been to increase productivity and reduce expenses. Taylor's beliefs were described by the equation that estimated the number of units manufactured in a given amount of period. Taylor performed time experiments to assess how several components an individual could create in a given amount of time. Historical influences
Organisations impacted by policy choices should modify their operations to ensure compliance with new regulatory requirements, which may help them stay in business. Demographic aspects: Effective entities assess the characteristics of their target commercial business to make sure that their solutions suit the necessity of people who pay for the organisation's profit. They periodically run tests to determine how well the consumers are served. This enables organisations to investigate how their specific target sector has developed as well as whether they might improve techniques of satisfying existing satisfied consumers while still attracting new individuals (Üsdiken and Kipping, 2020). Gender, Age, Relationship Status, Nationality, Race, Religion, Occupation, Education Level, and Income are all demographic factors that impact business decisions and practices. For instance, while smartphone companies initially started in the 1990s, their sales efforts were aimed firmly at young, experienced professionals. Telecommunications companies responded to such a change by altering the features of present offers and implementing new advertising methods. Natural factors: As awareness of surrounding ecological hazards rises, further consumers are now getting the awareness of the effects of business processes on the atmosphere. Many clients
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have been using their purchasing power for promoting companies that are using ecologically sustainable procedures such as compostable bags and sustainable sources (Pramandita et al. 2021). Employers might safeguard the atmosphere while still retaining consumers and increasing income by paying heed to environmental interruptions and revising their operations.
Figure 6: Environmental Factors (Source: Elokmagozian, 2022) Management Skill Types Technical abilities: Technical abilities are skills as well as expertise that allow managers to meet their objectives via the use of a variety of tactics (Mazurchenko and Marková, 2019). Such skills encompass not just the capacity to handle machinery as well as electronics, along with industrial devices with characteristics, but also the desire to grow sales, develop different kinds of services and commodities, and market the goods and services. Conceptual Ability: Management qualities such as knowledge and experience, and also the ability to think reflectively and articulate inventiveness, are examples of these. The manager could see the overall picture, appraise and address any issues, and come up with innovative solutions. This helps managers to properly foresee future challenges that their sector or the business as a whole may face. Interpersonal or human skills: Interpersonal or human talents are those that show a manager's potency to interact, cooperate, or participate in constructive interactions with everyone (Hosseini, Tajpour and Lashkarbooluki, 2020). Such skills aid managers in efficiently boosting developmental capacities within the company and encouraging employees to attain higher success. Management Skill
Figure 7: Management Skills (Source: Cebglobal, 2022) Planning: Any company would benefit from careful planning. An individual can plan activities based on predefined criteria while remaining within the restrictions of available resources such as time, money, and labor (Potjanajaruwit, 2022). It is the discipline of creating an activity plan and one or more ways for pursuing and accomplishing specific aims and goals utilising readily available materials. Communication: The manager must be an outstanding communicator. This may affect how successfully content is communicated within a group, ensuring that the team functions as a cohesive one (Gómez et al. 2021). The effectiveness with which management interacts with her or the whole workforce determines how well-defined procedures can be accomplished, how well assignments and operations can be done, and hence how successful a firm may be. Decision-making: A further key managerial skill can be decision-making. Managers make decisions, whether intentionally or unintentionally, and making decisions is crucial to a manager's productivity (Santos et al. 2021). Having strong and right judgments helps the firm grow while making bad or wrong judgments can lead to failure or poor ability utilisation. Problem-solving: Problem-solving is another required skill. A successful manager must deal with and overcome the plethora of concerns that arise throughout a work shift (Wu, Rivas and Chen, 2019). Problem-solving in management is the process of examining a given issue or scenario and then deciding on the best way to deal with the situation and obtain the best response. This will be the ability to deal with challenges even when the odds are stacked against you. When it is clear that one manager has exceptional problem-solving talents, it differentiates him/her from the entire team and instills trust in colleagues. Skill Gaps The skills gap study is beneficial because it provides visibility regarding the whole manpower, encourage personal development and learning, aids in comprehensive workforce management enhances recruiting attempts, and produces a comparative edge (Yibeltal Yizengaw, 2018). The skills gap research identified the disparities among individuals' present abilities as well as the skills demanded by a business to accomplish its ongoing and prospective objectives. This is a designed strategy, that aids in the development of the most cost-effective alternatives for overcoming a firm's skills gap.
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