Maybe we need another 50 definitions to say what's management
The first general theories of management appeared around 1916. Henri
Fayol was the first to systematize management behavior and established the 14
principles of management in his book General and Industrial Management.
- Division of work. The tasks to develop and staff should be specialize in order to achieve efficiency.
- Authority and responsibility. Authority is the ability to give orders and expect obedience from others; it creates responsibility.
- Discipline. Obedience, dedication, behavior and respect for the rules.
- Unity of command. Workers should receive orders from only one manager.
- Unity of direction. The entire organization should be moving towards a common objective in a common direction.
- Subordination of individual interests to the general interests. The interests of one person should not take priority over the interests of the organization as a whole.
- Remuneration. Many variables, such as cost of living, supply of qualified personnel, general business conditions, and success of the business, should be considered in determining a worker’s rate of pay.
- Centralization. Fayol defined centralization as lowering the importance of the subordinate role. Decentralization is increasing the importance. The degree to which centralization or decentralization should be adopted depends on the specific organization in which the manager is working.
- Scalar chain. Managers in hierarchies are part of a chain like authority scale. Each manager, from the first line supervisor to the president, possess certain amounts of authority. The President possesses the most authority; the first line supervisor the least. Lower level managers should always keep upper level managers informed of their work activities. The existence of a scalar chain and adherence to it are necessary if the organization is to be successful.
- Order. For the sake of efficiency and coordination, all materials and people related to a specific kind of work should be treated as equally as possible.
- Equity. All employees should be treated as equally as possible.
- Stability of tenure of personnel. Retaining productive employees should always be a high priority of management. Recruitment and Selection Costs, as well as increased product-reject rates are usually associated with hiring new workers.
- Initiative. Management should take steps to encourage worker initiative, which is defined as new or additional work activity undertaken through self direction.
- Team Spirit. Management should encourage harmony and general good feelings among employees.
In other hands, we have another definitions that can helps us to know a little bit more about management.
- Committee. A working group under the laws or rules of an organization,
institution or entity has established certain powers.
- Flowchart. Graphical representation of the logical sequence that is
followed and a set of activities, documents, files, and the jobs that goes into
a detailed procedure.
- Organization chart. Graphical representation of the organizational
structure of a company.
- Manual. Administrative instrument that contains explicitly, orderly and systematic information on objectives, policies, responsibilities, organization and procedures of the organs of an undertaking, and instructions or agreements deemed necessary to carry out the work assigned to staff, taking as reference the objectives of the institution.
- Organization Manual. Explain the most important details of the organization
usually include the purpose of each element of the organization, function
declarations and a glossary of terms.
- Policy Manual. This contains the company policies that are flexible rules.
- Bussines. It relates to the state of being busy either as an individual
or society, as a whole, doing a commercially viable and profitable work.
- Reengineering. It’s the fundamental reconception business processes to
achieve dramatic improvements in performance measures such as cost, quality,
service and speed, in this process are identified that may represent extra
costs and delays for the company.
- Reporting. It is the activity to keep informed of
what is happening to those to whom the leader is responsible, m is the
existence of records, documentation, research and inspections.
- Sole
proprietorship. It is a business owned by one person for-profit. The owner may
operate the business alone or may employ others. The owner of the business has
unlimited liability for the debts incurred by the business.
- Partnership.
It is a business owned by two or more people. In most forms of partnerships,
each partner has unlimited liability for the debts incurred by the business.
The three typical classifications of for-profit partnerships are general
partnerships, limited partnerships, and limited liability partnerships.
- Corporation.
A corporation is a limited liability business that has a separate legal
personality from its members. Corporations can be either government-owned or
privately owned, and corporations can organize either for-profit or
not-for-profit. A privately owned, for-profit corporation is owned by
shareholders who elect a board of directors to direct the corporation and hire
its managerial staff. A privately owned, for-profit corporation can be either privately
held or publicly held.
- Cooperative.
It is a limited liability business that can organize for-profit or
not-for-profit. A cooperative differs from a for-profit corporation in that it
has members, as opposed to shareholders, who share decision-making authority.
Cooperatives are typically classified as either consumer cooperatives or worker
cooperatives. Cooperatives are fundamental to the ideology of economic
democracy.
- Consumer. A
consumer is a person or group of people who are the final users of products and
or services generated within a social system. A consumer may be a person or
group, such as a household. The concept of a consumer may vary significantly by
context, although a common definition is an individual who buys products or
services for personal use and not for manufacture or resale.
- Market
sector. It describes a set of businesses that are buying and selling such
similar goods and services that they are in direct competition with each other.
- Budgeting.
It includes matters relating to the development, implementation and monitoring.
- Intellectual property. Is a legal
concept which refers to creations of the mind for which exclusive rights are
recognized.
- Patents. A patent grants an inventor
exclusive rights to make, use, sell, and import an invention for a limited
period of time, in exchange for the public disclosure of the invention. An
invention is a solution to a specific technological problem, which may be a
product or a process.
- Industrial design right. An
industrial design right protects the visual design of objects that are not
purely utilitarian. An industrial design consists of the creation of a shape,
configuration or composition of pattern or color, or combination of pattern and
color in three dimensional form containing aesthetic value. An industrial
design can be a two- or three-dimensional pattern used to produce a product,
industrial commodity or handicraft.
- Copyright. A copyright gives the
creator of an original work exclusive right to it, usually for a limited time.
- Trademark. A trademark is a
recognizable sign, design or expression which identifies products or services
of a particular source from those of others.
- Trade dress. Trade dress is a legal
term of art that generally refers to characteristics of the visual appearance
of a product or its packaging (or even the design of a building) that signify
the source of the product to consumers.
- Trade secrets. A trade secret is a
formula, practice, process, design, instrument, pattern, or compilation of
information which is not generally known or reasonably ascertainable, by which
a business can obtain an economic advantage over competitors or customers.
- Commerce: Commerce
is the whole system of an economy that constitutes an environment for business.
- Mass
production. Mass production is the production of large amounts of standardized
products, including and especially on assembly lines.
- Import. It consist of transactions in goods and
services (sales, barter, gifts or grants) from non-residents residents to
residents.
- Manufacturing.
Manufacturing is the production of goods for use or sale using labor and
machines, tools, chemical and biological processing, or formulation.
- Industry. Industry
is the production of an economic good or service within an economy; is often
classified into three sectors: primary or extractive, secondary or
manufacturing, and tertiary or services.
- Entrepreneurship.
Entrepreneurship is the act and art of being an entrepreneur or one who
undertakes innovations or introducing new things, finance and business acumen
in an effort to transform innovations into economic goods. This may result in
new organizations or may be part of revitalizing mature organizations in
response to a perceived opportunity.
- Business
incubators. Business incubators are programs designed to support the successful
development of entrepreneurial companies through an array of business support
resources and services, developed and orchestrated by incubator management and
offered both in the incubator and through its network of contacts. Incubators
vary in the way they deliver their services, in their organizational structure,
and in the types of clients they serve.
- Just In
Time strategy. Is a production strategy that strives to improve a business
return on investment by reducing in-process inventory and associated carrying
costs.
- Ownership. Ownership
of property may be private, collective, or common and the property may be
objects, land/real estate, or intellectual property. Determining ownership in
law involves determining who has certain rights and duties over the property.
- Tax. is a
financial charge or other levy imposed upon a taxpayer (an individual or legal
entity) by a state or the functional equivalent of a state such that failure to
pay is punishable by law.
- Workflow. A
workflow consists of a sequence of concatenated (connected) steps. Emphasis is
on the flow paradigm, where each step follows the precedent without delay or
gap and ends just before the subsequent step may begin.
- Processes. A
process is a more specific notion than workflow and can apply to physical or
biological processes, for instance. In the context of concepts surrounding
work, a process may be distinguished from a workflow by the fact that it has
well-defined inputs, outputs and purposes, while the notion of workflow may
apply more generally to any systematic pattern of activit.
- Innovation.
Innovation is the development of new values through solutions that meet new
needs, inarticulate needs, or old customer and market needs in value adding new
ways.
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