Management Functions and Theories

Flashcards covering the key concepts from the lecture notes on management functions and theories.

Management

Working with people to accomplish goals and objectives by directing and coordinating efforts, and using available resources efficiently and effectively.

Efficiently

Achieves maximum productivity with minimum wasted effort.

Planning

Thinking skills involving determining goals, sequencing activities, and anticipating the future.

Organizing

The act of assigning tasks and activities.

Leading

Motivating and guiding activities.

Controlling

Manager assesses or evaluates the execution of the plan.

Goal Setting (GEMS of Management)

Establishing objectives for the organization.

Executing (GEMS of Management)

Putting your plans into action.

Measuring of Results (GEMS of Management)

Evaluating how the project or business is progressing towards the goal.

Sustaining (GEMS of Management)

Determines the success of the business.

Frederick Taylor

Theory of Scientific Management (1909). Believed workers were motivated by money. Advocated for optimizing and simplifying jobs.