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The role of management.docx

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Department
Accounting
Course
ACCT 301
Professor
All Professors
Semester
Fall

Description
The role of management Classical theories Scientific • Planning • Standardizing • Improving human effort at the operative level • To maximize output with minimum input Administrative Fayol divides the activities into six main groups: • Technical – production, manufacturing • Commercially – buying, selling, exchange • Financial – obtaining and using capital • Security – protection of people and property • Accounting – stocktaking, costing, statistics, balance sheet • Managerial – planning, organizing, commanding, coordinating and controlling Fayol’s fourteen rules of management conduct are: 1. division of work 2. Authority 3. Discipline 4. Unity of command 5. Unity of directors 6. Subordination to the general interest 7. Remuneration 8. Centralization 9. Scalar chain 10. Order 11. Equity 12. Tenure of personnel 13. Initiative 14. esprit de corps Bureaucratic • Rational – legal authority • Traditional – based upon custom & practice • Charismatic – the individual has some special personal quality Rosemary Steward summarizes the four main features of bureaucracy as: • Specialization • Hierarchy of authority • System of rules • Impersonality She explains the high growth of bureaucracy as due to: • Increasing size of the organization • Greater complexity • Scientific management stresses rationale and prescribed processes • Demands for equality of treatment The change! Elton Mayo’s Hawthorne experiment brought about the human relations movement, which emphasizes social factors at work,
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