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Management is one of the oldest and most vast concepts in the history of the human race that has significantly evolved with time. Today, there is a need for management in every business domain. Considering the benefits and opportunities linked with management, a high number of students across different corners of the world are studying management-related courses and programs.
Moving further in this blog, we will cover a range of management-related concepts and theories that can directly help students to gain a better understanding. In this blog, we will cover:
According to profound professionals and classic management books, management is a strategic process of planning, coordinating, and overseeing the operations of a business organisation to help them achieve their predetermined goals and objectives. It encompasses a range of functions that help both students and working professionals to understand the importance of smooth operations within an organisation.
Considering the ever-evolving commercial landscape across the globe, it has become extremely important for leaders and managers to adapt to the changing environments, motivate their workforce, and foster a culture of constant improvements and developments. It is their duty to align the organisational goals with the personal interests of the employees.
Hence, business management plays a prominent role in driving productivity, innovation, employee satisfaction, and competitive advantage.
If we talk about the history of management then Henri Fayol is the name that will surely come up first. Henri Fayol was a French mining engineer who developed a general theory of business administration that is often called Fayolism. Fayol is the man who developed the various concepts of management, including functions, principles, and levels of management.
Today, these management concepts are equally crucial for students as well as working professionals. In the realm of academics, there are several topics that are important for students to learn and gain a better understanding of how these various management concepts work.
Moving forward, we will discuss the functions and levels of management.
Effective management helps many students and working professionals gain a better understanding of running and maintaining a business. There are basically 5 major functions and 3 levels of business management given by Henri Fayol. Also known as the “father of general management”, Fayol also gave 14 principles of management that are applicable to any size and vertical of business even in today’s modern landscape.
Planning is the very first function of management that enables businesses to create a better plan in order to achieve their goals and objectives. It involves the formulation of both short-term and long-term objectives and the identification of the best course of action to achieve them. Planning simply means deciding in advance what to do and when to do it. Planning also provides direction and reduces the chances of uncertainty by anticipating potential challenges and opportunities.
The next and equally foremost step or function of management is Organizing. Once the plans are in place, organising involves arranging resources and tasks in a simplified and structured manner to implement those plans effectively. Organising includes determining what tasks need to be done, who will do them, how the tasks will be grouped, who reports to whom, and where decisions are to be made. It also creates a framework that helps streamline operations and facilitates coordination among different parts of the organisation.
Staffing is indeed one of the most important aspects for businesses to achieve their goals. It is crucial for businesses of all sizes and verticals to create and manage a team of skilled professionals. Staffing means finding the right person for the right job at the right time and place. It ensures that the organisation has the right people with the right skills in the right positions. It also involves workforce planning, performance appraisals, and career development to maintain a capable and motivated workforce.
Directing is a perfect blend of soft criticism, effective leadership and genuine motivation. It is indeed an important function for the management of any organisation. By effectively directing the employees in the right direction, managers can make the best use of their resources. It encompasses influencing and guiding individuals or teams, communicating effectively, and resolving conflicts. Leadership is crucial for fostering a positive organisational culture, inspiring employees, and facilitating change. Effective leaders use various leadership styles and techniques to align employee efforts with the organisation's vision and objectives.
Controlling the last function and probably the most vital for both top-level and mid-level managers. Controlling means comparing the actual results or output with the expected ones. In simple words, the controlling function ensures that organisational activities are aligned with the established plans. This involves setting performance standards, measuring actual performance, comparing it with the standards, and taking corrective action if necessary. Controlling helps managers monitor progress, identify deviations from goals, and implement improvements. It ensures that the organisation remains on track to achieve its objectives and can adapt to any unforeseen changes.
So, these are the five crucial functions of management. These functions allow managers to make effective plans for the future and achieve them successfully for business growth, success, and expansion.
Management is basically structured into three primary levels. Each level of management comes with unique and distinct roles and responsibilities. This hierarchical structure helps companies to ensure their goals are effectively translated into operational outcomes and actions.
So, these are the five functions and three levels of management which were given by the father of general management i.e. Henri Fayol. Well, do you know what administrative theory is?
There are many commerce and business management students who must’ve come across the term “Administrative Management Theory”. However, there are many who are not from management backgrounds and face several challenges when their professors ask them to prepare assignments. That is exactly when they seek management assignment help services online. They seek assignment help services to score better marks and grades and most of the time, they fail to even submit their assignments on time because their subject-matter experts fail to deliver the assignment on time.
This is when we come into the picture. Our assignment helper experts are qualified and experienced in this field and provide the best academic assistance services at a very reasonable price range. Now, coming back to the focal point, do you know what administrative management theory is?
Administrative management theory is a classical management approach that focuses on the systematic design and functioning of an organisation to ensure efficiency and effectiveness. It was primarily developed by Henri Fayol in the early 20th century. This theory emphasises a set of principles and practices for managers to follow in order to optimise organisational operations. Administrative management theory is also known as Structural Theory.
As we said, administrative management theory is given by Henri Fayol to help businesses follow the right practices and gain a competitive advantage. Fayol’s administrative management theory primarily comes with the 14 principles to create a structured, hierarchical organisation where clear roles and responsibilities, standardised procedures, and a strong organisational culture contribute to achieving strategic goals. Fayol's theory laid the groundwork for modern management practices and continues to influence management thinking and education today.
In conclusion, the prime objective of Henri Fayol's management theory is to empower both businesses and their dedicated workforce. Moving ahead, we will discuss the importance of administrative management theory which is given by the father of general management.
The importance of administrative management theory in today’s competitive commercial landscape is profound, as it provides a systematic framework for organisational efficiency, clear structure, and effective decision-making, enabling businesses to optimise day-to-day operations and maximise productivity. The importance of Henri Fayol’s management theory lies in several key areas, including:
Henri Fayol’s administrative management theory laid the foundation for contemporary management concepts and principles. Additionally, his identification of the key functions of management (Planning, Organizing, Staffing, Directing, and Controlling) - provides a specific and systematic approach to overlook organisations that are still relevant in today’s transforming business scene.
Another prominent aspect of Henri Fayol’s management theory is that it ensures a structured approach to management by clearly defining the roles and responsibilities of each individual. This structured approach helps ensure that everyone in the organisation understands their duties, leading to better coordination and efficiency.
Henri Fayol’s principles of management offer authentic and universal guidelines for businesses of all sizes and domains. These principles can be easily applied by managers across different verticals within the organisation, making them versatile and enduring.
There are times when businesses are so invested in growth and expansion that they eventually forget to maintain the core fundamentals. The importance of administrative management theory also focuses on efficiency and effectiveness in organisational operations. By emphasising systematic planning, clear organisational structure, and proper resource allocation, the theory helps businesses to optimise their performance and achieve their goals more efficiently.
One of the biggest aspects of administrative management theory is that it highlights the significance of developing managerial skills and competencies, advocating for continuous training and development of both managers and frontline individuals. This enhanced focus on professional development enables organisations to train and build capable leaders who further play a prominent role in the overall success of the business.
These times of tough competition and a large number of players in the market require innovation, creativity, and adaptability to eventually overtake our peers. Informed decision-making has become one of the most vital responsibilities of managers. This theory of administrative management provides a framework for improved decision-making processes, and it ultimately leads to more consistent and coherent strategies, aligning organisational efforts towards common objectives.
Innovation and expansion are the two main pillars of success for any business organisation. The administrative management theory by Fayol can be adapted to fit almost every organisational context and scale. Whether it's a budding startup, MSES, Fortune 500 companies, or established enterprises, these concepts help in creating flexible yet strong management practices that can evolve with changing organisational needs.
Overall, the importance of administrative management theory lies in its comprehensive and systematic approach to effectively managing business organisations. Its emphasis on efficiency and effectiveness and lasting impact on the field of management is a gift to businesses that are aiming to disrupt a particular segment. Additionally, these concepts have a cornerstone of management education and practice.
Now, let’s understand the benefits of good administrative management.
By implementing the administrative management theory by Fayol, companies can lead their workforce in the right direction. The benefits of good administrative management in the corporate sector are not just limited to employee satisfaction and enhanced productivity. Good administrative management offers a range of benefits to organisations, and some of the key benefits are:
The very first benefit of good administrative management ensures that resources (man, machine, and material) are utilised optimally and processes are streamlined, leading to increased productivity and minimising clutter and wastage.
With the help of administrative management theories, companies are able to create a precise organisational structure by clearly defining the roles, responsibilities, and hierarchies. On top of that, administrative management ensures better communication and coordination within the organisation.
Decision-making is indeed one of the most crucial and prominent aspects for every entrepreneur and working professional out there. Effective administrative management empowers companies with a robust framework for decision-making, ensuring that decisions are well-informed, timely, and aligned with the organisational goals and objectives.
Administrative management is the best solution for businesses of all sizes and verticals when it comes to contributing to the overall well-being and satisfaction of the employees. A thoughtfully designed management practice fosters a positive work environment, enhancing employee satisfaction, motivation, and retention by meeting expectations and providing support.
Consistency and standardisation are no longer limited to the realm of business models. Today, employees are seeking the same thing from their work environment in order to grow both professionally and personally. Another significant benefit of good administrative management is consistency as it streamlines the range of operations through standardised procedures and policies, ensuring uniformity in output and service quality.
Without unique and systematic planning, ideal implementation, and effective monitoring, businesses cannot achieve their predetermined goals and objectives, no matter how hard an entrepreneur tries. Good administrative management aids in thorough planning and control mechanisms, enabling organisations to set realistic goals, monitor progress, and implement game-changing actions when necessary.
In today’s ever-evolving commercial landscape, it has become extremely crucial for businesses to make correct decisions regarding scalability and adaptability. Another benefit of good administrative management is that it allows organisations to scale operations smoothly and adapt to changes in the market or industry, ensuring long-term growth and resilience.
Consumer Satisfaction is another crucial element for businesses to create a better image in the market. A customer is the person who buys a particular product or service, but it is the ultimate consumer to whom businesses cater to. By ensuring efficient and effective operations, good administrative management leads to better product and service quality, resulting in higher customer satisfaction and loyalty.
Well, risk management is one such aspect of the business that often tests the decision-making, patience, and resilience of the entrepreneurs. The presence of all these factors in an entrepreneur is important to identify potential risks and implement strategies to mitigate them. By doing so, they not only ensure flawless business continuity and stability but also grow personally to face the hardships.
There’s a famous saying that “Without focusing and getting to clarity, you cannot lead. You cannot motivate yourself and your team. You cannot plan. You cannot communicate. Hence, effective administrative management allows top-level executives to focus on strategic initiatives by effectively handling routine tasks and driving innovation to gain a competitive advantage.
So, these are the major benefits of Henri Fayol’s management theory. Moving towards the conclusion and the most exciting part of the blog, let’s talk about the 14 principles of management.
One of the major accomplishments of Henri Fayol came when he introduced the principles of management. His 14 principles not only revolutionised the field of business management but also empowered companies of all sizes and verticals. Henri Fayol’s 14 principles of management are as follows:
The first principle of Henri Fayol’s 14 Principles of management is division of work. Division of work simply means a standardised process that allows employees to focus on specific areas and tasks to become experts in their profession.
Authority and responsibility is also one of the most crucial and imperative principles of management that every business needs to follow during these competitive times. This principle states that managers should and must have the authority to give orders to guide their subordinates to work efficiently. At the same time, they are also responsible for the outcome of any project hence authority should be commensurate with responsibility.
The principle of discipline is indeed very important for businesses to maintain a professional yet engaging environment within their offices. Employees must adhere to organisational rules, regulations, and standards. Effective discipline requires good leadership, clear agreements, and fair enforcement of rules.
The fourth crucial principle of management given by Henri Fayol is the unity of command. This principle states that every employee and subordinate should and must receive instructions from only one superior. By following a unity of command managers and top-level executives can minimise the chances of confusion and conflicts within the organisation.
The next in the list is unity of direction is similar to the unity of command. This principle focuses on one thing and that is to work in a specific direction. All activities aiming at the same objective should be directed by one manager using one plan to ensure unity and coordination.
In order to achieve their predetermined goals and objectives, it is important for businesses to convert personal interest to general interest. In this particular principle, the interests of the organisation should take precedence over individual interests to ensure collective success.
Remuneration is the seventh principle of administrative management that can surely help businesses to attract and retain the best resources. In today’s competitive landscape, cost and standard of living have become a priority for working professionals today. Employees should be fairly compensated for their work, which helps in maintaining motivation and satisfaction.
The next on the list is Centralization. Just like every other principle, Centralization is also equally important for businesses to foster a holistic work culture. The meaning of centralization is simple, “The degree to which authority is concentrated or dispersed should be appropriate to the organisation and its context, balancing control and employee autonomy.”
Scalar Chain is that principle of management that enables businesses to create and implement a systematic hierarchy. A clear line of authority from top management to the lowest ranks represents the chain of command. Communication should follow this chain, but horizontal communication is allowed if formally sanctioned.
Order is pretty simple. Every man, machine, and material should be placed in the right place to ensure operational efficiency. By following the principle of order, companies can not only maximise the productivity of their workforce but also ensure a clutter-free environment.
The next principle is “equity”. Equity is one topic that has been in the spotlight for the past few decades. In the realm of business management, top-level executives and managers should treat their employees with fairness and justice to foster loyalty and dedication.
Since the pandemic, it has become extremely important for working professionals to work in an organisation that could offer them a sense of job security and flexibility. High employee turnover is inefficient. Providing job security and career development opportunities helps retain skilled employees.
For startups and even large and established enterprises, innovation and creativity are extremely important. For that, encouraging employees to take initiative and contribute ideas promotes engagement and innovation within the organisation.
Promoting team spirit and unity among employees enhances harmony and cohesion within the organisation. This is the 14th and the last principle of management given by Henri Fayol.
These principles provide a comprehensive framework for managers to plan, organise, lead, and control organisational activities effectively, contributing to overall organisational success.
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