The process of assignment of specific work to individuals within the organization and giving them the right to perform those works is delegation. Delegation of authority is one of the most significant concepts in management practice, which affects managerial functions. Management is the art of getting things done through others and delegation means to get the results through the subordinates. The expansion of business volume and diversification of line of business makes it impracticable to handle all the business by a single manager. Therefore, the concept of delegation of some managerial authority to subordinates comes into practice in present day business organizations. Here, the manager delegates some of his authority to his subordinates. This helps in developing a feeling of dedication to the work among the subordinates. The top level management plays only the role of a supervisor and visits them to provide guidance, suggestions and instructions. It minimizes the Continue reading
Management Theories
Theories of Motivation: Alderfer’s Existence-Relatedness-Growth (ERG) Model
Serious doubts have been expressed about the existence of the five distinct need categories, which Maslow hypothesized. There seems to be some overlapping between esteem, social, and physiological needs. Also, the lines between esteem, social, and self-actualization needs are not entirely clear. With these points in mind, Clayton Alderfer condensed Maslow’s five need categories into three sets: The existence Needs: Over here material existence requirements are mentioned. This group is the same as what has been called by Maslow physiological and safety needs. In an organizational context the existence needs are satisfied by money earned in a job and spending them to obtain foods, clothing, shelter etc. Relatedness Needs: An employee desire to maintain important interpersonal relationships with pears, superiors and subordinates in work context can be termed as relatedness needs. Relatedness for an employee in an organization context includes the need to interact with peers, receive recognition from the Continue reading
14 Tips on How to Build Effective Teams
When building a team, you need to make sure individuals are aware of their job role and responsibilities and if so, who’s taking leadership and who’s accountable for each task. There needs to be clear lines of responsibility and authority. Individuals must be aware of what task needs to be achieved, when and how they are going to accomplish this. Team members should have the required skills to be able to carry out tasks and duties effectively. To build a team you need to gain each individual trust and loyalty, making them feel part of the team so that individuals do not feel fearful of people in leadership roles. The leader should clarify the purpose and set clear goals where team members work towards common goals which are clearly communicated and agreed. There are many techniques to help build a team such as valuable ideas, which means when working in Continue reading
Comparison of Classical and Behavioral Approaches to Management
Management has been as old as the human beings and with the evolvement of humans management has also evolved. The history of management and its theories can be traced back to thousands of years. However, systematic development of the theories of management is generally viewed from the end of nineteenth century with the emergence of large industrial organizations and the ensuing problems associated with their structure and management. This is the time when work of various writers on the management has started to come into the light. These works can be clubbed together to form different approaches to the theory of management. Two of the most popular and widely accepted approaches to management are: Classical Approach to Management, and Behavioral Approach or Human Relation Approach to Management In order to be able to compare and understand the contrast of these two approaches to management, let’s understand the basics of these Continue reading
Concept of Power in Management
Power in Management Power is easy to feel but difficult to define. It is the potential ability of a person or group to influence another person or group. It is the ability to get things done the way one wants them to be done.Both formal and informal groups and individuals may have power; it does not need an official position or the backing of an institution to have power. Influence can take many forms. One person has influenced another if the second person’s opinions, behavior or perspectives have changed as a result of their interaction. Power is a factor at all levels of most organizations. It can be a factor in almost any organizational decision. Power and Authority Sometimes power and authority is used synonymously because of their objective of influencing the behavior of others. However, there is difference between the two. Power does not have any legal sanctity while Continue reading
What is Research and Development (R&D)?
For a new business initiative it is essential to recognize the development stages through which the enterprise is likely to pass, and prepare for the issues and challenges which will be faced. For a business unit within a corporate it is important to recognize that the same development process applies — often with the same challenges! However, these challenges are sometimes eased by the protection of an established corporate parent able to soften the impact of negative cash flow and poor profitability at the relevant stages. Creativity becomes the responsibility of Research and Development (R&D), which is staffed by specialists in visualizing and realizing marginal or major product changes. Ever since companies such as Dupont and Bell Labs first took, and successfully traveled along, this road, setting up a separate R&D group has been a popular way to enhance value at the concept stage. There are many ways of distinguishing Continue reading