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Lecture The evolution of management thought (6th edition) - Chapter 19: Management theory and practice

General management theory reawakened as organizations grew more complex and needed more broadly educated general managers. Drucker and others emphasized the need to improve the practice of management. General management also grew through a resurgence in industrial/organizational economics. Business policy evolved to strategic management. | THE EVOLUTION OF MANAGEMENT THOUGHT, 6TH EDITION Electronic Resource by: Regina Greenwood and Julia Teahen The Modern Era Part Four http://www.bigphoto.com/themes/traffic/railway Management Theory and Practice Chapter Nineteen The Modern Era The Renaissance of General Management Fayol’s Intellectual Heirs Management Education Other Views of Managerial Work Peter Drucker: The Guru of Management From Business Policy to Strategic Management Markets and Hierarchies Governance and Agency Issues Management as an Integrating and Innovating Task Strategy and Views of the Firm Strategic Leadership and Evolutionary Dynamics The Renaissance of General Management Henri Fayol – the first to propose a general theory of management The elements of management describing what managers did (plan, organize, command, coordinate, and control). The principles, which were lighthouses, or guides, to how to manage. Fayol’s Intellectual Heirs William Newman (1909-2002) – “the basic objectives of the firm should define its place or niche in the industry, define its social philosophy as a business ‘citizen,’ and serve to establish the general managerial philosophy of the company” (Wren text) George Terry (1909-1979)– first to call his book Principles of Management Harold Koontz (1908-1984) and Cyril O’Donnell (1900-1976) – defined management as “the function of getting things done through others” in their popular text. Management Education The Gordon and Howell Report 1959 Asked: What are we teaching in business schools and does this prepare our students for a career in a changing environment? Cited the need for more courses in: The humanities and liberal arts. Mathematics. The behavioral and social sciences. Compare a pre-1959 Business school curriculum to the current requirements in this business program. Business School Curriculum Management Theory Jungle Harold Koontz (1908-1984) Six Different Schools – management process, empirical, human behavior, social | THE EVOLUTION OF MANAGEMENT THOUGHT, 6TH EDITION Electronic Resource by: Regina Greenwood and Julia Teahen The Modern Era Part Four http://www.bigphoto.com/themes/traffic/railway Management Theory and Practice Chapter Nineteen The Modern Era The Renaissance of General Management Fayol’s Intellectual Heirs Management Education Other Views of Managerial Work Peter Drucker: The Guru of Management From Business Policy to Strategic Management Markets and Hierarchies Governance and Agency Issues Management as an Integrating and Innovating Task Strategy and Views of the Firm Strategic Leadership and Evolutionary Dynamics The Renaissance of General Management Henri Fayol – the first to propose a general theory of management The elements of management describing what managers did (plan, organize, command, coordinate, and control). The principles, which were lighthouses, or guides, to how to manage. Fayol’s Intellectual Heirs William Newman (1909-2002) – “the basic .