principles of management

Feb 3rd, 2012
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BBA102 Principles of Management 4 and 5Students NameUniversity1. The Role of ManagersManagement refers to the arrangement of business activities in order to accomplish specific objectives (Business Dictionary, n. d.). Management is one of the factors of production. The main task in management involves the innovation and marketing of products. Modern management originated from studies of inefficient enterprises that were carried on by Sir Thomas More in the sixteenth century. Managers create and oversee the implementation of business policies. They also plan, organize, control, and direct the resources of a business in order to achieve the objectives. The size of management ranges from a single individual in a small business to thousands of persons in multinational corporations. In large companies, the board of directors determines the policy that is forwarded to the chief executive officer for implementation. The character and skills of the managers determine the current and future worth of the firm.Presently, managers have access to a wide range of useful resources. In the 1900s, however, managers had limited resources to guide them in the practice of management. Early theorists, such as Henri Fayol, developed the tools that managers needed in order to enhance their skills (Mind Tools, n. d). Fayol and the other theorist established the bases of modern management theory.Henri Fayols year of birth is 1841 (CiteHR, n. d.). At the age of 19, he sta

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