The Practice of Management

In: Business and Management

Submitted By markyatia
Words 2971
Pages 12
Mark Atia
7/25/2012
Extra Credit Assignment
THE PRACTICE OF MANAGEMENT BY PETER DRUCKER
The introduction is titled “The Nature of Management” and features three chapters. The first chapter is titled “The Role of Management”. The first two sentences in this chapter might be the best definition of a manager anyone has ever written. Drucker states that “the manager is the dynamic, life-giving element in every business. Without his leadership the “resources of production” remain resources and never become production”. To me this sums up what being a manager is all about. Later in the chapter he says “from the peak there is only one easy way to go: downwards. It always requires twice as much effort and skill to stay up as it did to climb up”. A powerful statement, that many do not realize.
The second chapter, titled “The Jobs of Management”, Drucker talks about how the jobs of management are usually not known by people within the company. People know who the managers are but aren’t quite sure what they do. He breaks down what a managers’ job involves into a couple of key areas. The first of which is “economic performance”. With this Drucker say that management must always put economic performance first in every decision and action they make because this will justify their existence. Other areas of this chapter focus on management functions which include: their first job is managing a business, managing managers and managing both worker and work.
The third chapter is called “The Challenge to Management”. This chapter focuses a lot on automation. Since this book was written in 1954, automation was new and opinions varied greatly on the impact it would have on the American business.

Part one feature chapters’ four thru nine and includes the first of three stories that Drucker tells about three high-profile companies highlighting an area of management. It is in…...

Similar Documents

Evolution of Management Accounting Practices

...AN EMPIRICAL INVESTIGATION OF THE EVOLUTION OF MANAGEMENT ACCOUNTING PRACTICES by Magdy Abdel-Kader University of Essex and Robert Luther University of Bristol WP No. 04/06 October 2004 Address for correspondence: Magdy Abdel-Kader Department of Accounting, Finance and Management University of Essex Colchester Essex CO4 3SQ UK E-mail: mabdel@essex.ac.uk 1 An Empirical Investigation of the Evolution of Management Accounting Practices Magdy Abdel-Kadera and Robert Lutherb a: Department of Accounting, Finance and Management, University of Essex, Wivenhoe Park, Colchester, CO4 3SQ (Correspondence address) b: Bristol Business School, U.W.E., Bristol, BS16 1QY The authors are grateful for the constructive comments of participants at the EIASM conference on New Directions in Management Accounting: Innovations in Practice and Research, December 2002, Brussels. Financial support from the Chartered Institute of Management Accountants is acknowledged with gratitude. 2 An Empirical Investigation of the Evolution of Management Accounting Practices Abstract This paper investigates and reports on the status of management accounting practices in UK industry. The analysis operationalises the IFAC statement on Management Accounting Concepts and its description of the evolution of management accounting. The results, based on responses from 123 practising management accountants, suggest that the management accounting employed in many UK industrial companies......

Words: 11706 - Pages: 47

Management Practices

...Management Practices at Amazon Fulfillment Center Aneshia Y. Glover MGT330: Management for Organizations Instructor Tracy Green September 30, 2013 Management Practices at Amazon Fulfillment Center No two businesses are run the exact same. Every business has a system that they follow when it comes to planning, leading, organizing, staffing and controlling. With each of these management practices comes different responsibility and the purpose they serve with the ultimate purpose of achieving organizational goals. I currently work at an Amazon fulfillment center which is a multibillion Fortune 100 company founded in 1994 headquartered in Seattle, Washington. Their mission statement is “to be Earth’s most customer-centric company, where customers can find and discover anything they might want to buy online, and endeavors to offer its customers the lowest possible prices” (Amazon, 2013). This particular company is one that works online selling well over thousands of different items from clothing, jewelry, books, shoes, electronics, even grocery items, anything you could possibly imagine! Not only do they sell their particular items, but they also hold an e-commerce platform in which they sell other retailers and individual seller items. One would ask how a company of this magnitude, with more than 45 fulfillment and customer service sites in North America could become so successful, but the answer lies at the beginning and how this establishment is run today. I......

Words: 2330 - Pages: 10

Principals and Practices of Management

...Principles and Practices of Management IIBM Institute of Business Management Examination Paper Principles and Practices of Management Subject Code-B101 Section A: Objective Type & Short Questions (30 marks)    This section consists of multiples choice and short notes type questions Part one carries 1 mark each & part two carries 5 marks each. Attempt all questions MM.100 Part One Multiple Choices: 1. A plan is a trap laid to capture the ________ a. Future b. Past c. Policy d. Procedure 2. Which of the following is the function for employing suitable person for the enterprise? a. Organizing b. Staffing c. Directing d. Controlling 3. ___________ means “ group of activities & employees into departments”: a. Orientation b. Standardization c. Process d. Departmentation 4. This theory states that authority is the power that is accepted by others: a. Acceptance theory b. Competence theory c. Formal authority theory d. Informal authority theory 5. Which of the following means dispersal of decision-making power to the lower levels of the organization? a. Decentralization b. Centralization c. Dispersion d. Delegation 6. This chart is the basic document of the organizational structure: a. Functional chart b. Posts chart IIBM Institute of Business Management 1 Principles and Practices of Management c. Master chart d. Departmental chart 7. Communication which flow from the superiors to subordinates with the help of scalar chain is known as: a. Informal communication b. Downward......

Words: 1001 - Pages: 5

Principles and Practices of Management

...Principles and Practices of Management IIBM Institute of Business Management Examination Paper Principles and Practices of Management Subject Code-B101 Section A: Objective Type & Short Questions (30 marks)    This section consists of multiples choice and short notes type questions Part one carries 1 mark each & part two carries 5 marks each. Attempt all questions MM.100 Part One Multiple Choices: 1. A plan is a trap laid to capture the ________ a. Future b. Past c. Policy d. Procedure 2. Which of the following is the function for employing suitable person for the enterprise? a. Organizing b. Staffing c. Directing d. Controlling 3. ___________ means “ group of activities & employees into departments”: a. Orientation b. Standardization c. Process d. Departmentation 4. This theory states that authority is the power that is accepted by others: a. Acceptance theory b. Competence theory c. Formal authority theory d. Informal authority theory 5. Which of the following means dispersal of decision-making power to the lower levels of the organization? a. Decentralization b. Centralization c. Dispersion d. Delegation 6. This chart is the basic document of the organizational structure: a. Functional chart b. Posts chart IIBM Institute of Business Management 1 Principles and Practices of Management c. Master chart d. Departmental chart 7. Communication which flow from the superiors to subordinates with the help of scalar chain is known as: a. Informal communication b. Downward......

Words: 1342 - Pages: 6

Practice Management

...issues associating with practice management. The essay will critically evaluate four models of management, leadership and marketing incorporating the styles, behaviours and concepts of each. The Framework of ethics, accountability, obtaining consent and breach of confidentiality will be analysed and how this may affect a professional practitioner. Management and Leadership The terms of management and leadership are perceived as synonyms and are often used interchangeably (Mullins, 2007). Authors such as Kotter (1990) and Zaleznik (1989) believe that there is no relationship between leadership and management, while others may argue that leadership is merely a characteristic of the manager (Rees & French, 2013). Northouse (2013) argues that management was developed as a way of reducing disorder in organisations, and to encourage them to operate more effectively and efficiently. Northouse also states that within company settings managers hold a particular title, fulfil certain duties and perform appointed roles. However, not only is the manager responsible for staff supervision but also responsible for the company’s productivity, and overall performance (Mullins, 2010). Mullins (2010) suggests that there is a close relationship between both concepts of leadership and management and recognises that some authors dislike attempts to separate the two. Although the critical roles of leadership are about continuing beneficial development and management about seeking......

Words: 2971 - Pages: 12

Practice Management

...issues associating with practice management. The essay will critically evaluate four models of management, leadership and marketing incorporating the styles, behaviours and concepts of each. The Framework of ethics, accountability, obtaining consent and breach of confidentiality will be analysed and how this may affect a professional practitioner. Management and Leadership The terms of management and leadership are perceived as synonyms and are often used interchangeably (Mullins, 2007). Authors such as Kotter (1990) and Zaleznik (1989) believe that there is no relationship between leadership and management, while others may argue that leadership is merely a characteristic of the manager (Rees & French, 2013). Northouse (2013) argues that management was developed as a way of reducing disorder in organisations, and to encourage them to operate more effectively and efficiently. Northouse also states that within company settings managers hold a particular title, fulfil certain duties and perform appointed roles. However, not only is the manager responsible for staff supervision but also responsible for the company’s productivity, and overall performance (Mullins, 2010). Mullins (2010) suggests that there is a close relationship between both concepts of leadership and management and recognises that some authors dislike attempts to separate the two. Although the critical roles of leadership are about continuing beneficial development and management about seeking......

Words: 2971 - Pages: 12

Practice Management

...issues associating with practice management. The essay will critically evaluate four models of management, leadership and marketing incorporating the styles, behaviours and concepts of each. The Framework of ethics, accountability, obtaining consent and breach of confidentiality will be analysed and how this may affect a professional practitioner. Management and Leadership The terms of management and leadership are perceived as synonyms and are often used interchangeably (Mullins, 2007). Authors such as Kotter (1990) and Zaleznik (1989) believe that there is no relationship between leadership and management, while others may argue that leadership is merely a characteristic of the manager (Rees & French, 2013). Northouse (2013) argues that management was developed as a way of reducing disorder in organisations, and to encourage them to operate more effectively and efficiently. Northouse also states that within company settings managers hold a particular title, fulfil certain duties and perform appointed roles. However, not only is the manager responsible for staff supervision but also responsible for the company’s productivity, and overall performance (Mullins, 2010). Mullins (2010) suggests that there is a close relationship between both concepts of leadership and management and recognises that some authors dislike attempts to separate the two. Although the critical roles of leadership are about continuing beneficial development and management about seeking......

Words: 2971 - Pages: 12

Practice Management

...issues associating with practice management. The essay will critically evaluate four models of management, leadership and marketing incorporating the styles, behaviours and concepts of each. The Framework of ethics, accountability, obtaining consent and breach of confidentiality will be analysed and how this may affect a professional practitioner. Management and Leadership The terms of management and leadership are perceived as synonyms and are often used interchangeably (Mullins, 2007). Authors such as Kotter (1990) and Zaleznik (1989) believe that there is no relationship between leadership and management, while others may argue that leadership is merely a characteristic of the manager (Rees & French, 2013). Northouse (2013) argues that management was developed as a way of reducing disorder in organisations, and to encourage them to operate more effectively and efficiently. Northouse also states that within company settings managers hold a particular title, fulfil certain duties and perform appointed roles. However, not only is the manager responsible for staff supervision but also responsible for the company’s productivity, and overall performance (Mullins, 2010). Mullins (2010) suggests that there is a close relationship between both concepts of leadership and management and recognises that some authors dislike attempts to separate the two. Although the critical roles of leadership are about continuing beneficial development and management about seeking......

Words: 2971 - Pages: 12

Practice Management

...issues associating with practice management. The essay will critically evaluate four models of management, leadership and marketing incorporating the styles, behaviours and concepts of each. The Framework of ethics, accountability, obtaining consent and breach of confidentiality will be analysed and how this may affect a professional practitioner. Management and Leadership The terms of management and leadership are perceived as synonyms and are often used interchangeably (Mullins, 2007). Authors such as Kotter (1990) and Zaleznik (1989) believe that there is no relationship between leadership and management, while others may argue that leadership is merely a characteristic of the manager (Rees & French, 2013). Northouse (2013) argues that management was developed as a way of reducing disorder in organisations, and to encourage them to operate more effectively and efficiently. Northouse also states that within company settings managers hold a particular title, fulfil certain duties and perform appointed roles. However, not only is the manager responsible for staff supervision but also responsible for the company’s productivity, and overall performance (Mullins, 2010). Mullins (2010) suggests that there is a close relationship between both concepts of leadership and management and recognises that some authors dislike attempts to separate the two. Although the critical roles of leadership are about continuing beneficial development and management about seeking......

Words: 2971 - Pages: 12

Practice Management

...issues associating with practice management. The essay will critically evaluate four models of management, leadership and marketing incorporating the styles, behaviours and concepts of each. The Framework of ethics, accountability, obtaining consent and breach of confidentiality will be analysed and how this may affect a professional practitioner. Management and Leadership The terms of management and leadership are perceived as synonyms and are often used interchangeably (Mullins, 2007). Authors such as Kotter (1990) and Zaleznik (1989) believe that there is no relationship between leadership and management, while others may argue that leadership is merely a characteristic of the manager (Rees & French, 2013). Northouse (2013) argues that management was developed as a way of reducing disorder in organisations, and to encourage them to operate more effectively and efficiently. Northouse also states that within company settings managers hold a particular title, fulfil certain duties and perform appointed roles. However, not only is the manager responsible for staff supervision but also responsible for the company’s productivity, and overall performance (Mullins, 2010). Mullins (2010) suggests that there is a close relationship between both concepts of leadership and management and recognises that some authors dislike attempts to separate the two. Although the critical roles of leadership are about continuing beneficial development and management about seeking......

Words: 2971 - Pages: 12

Principles and Practices of Management

...Examination Paper of Principles and Practices of Management 1 IIBM of Business Management IIBM Institute of Business Management Examination Paper MM.100 Principles and Practices of Management Subject Code-B101 Section A: Objective Type & Short Questions (30 marks)  This section consists of multiples choice and short notes type questions    Part one carries 1 mark each & part two carries 5 marks each.   Attempt all questions  Part One Multiple Choices: 1. A plan is a trap laid to capture the ________ a. Future b. Past c. Policy d. Procedure 2. Which of the following is the function for employing suitable person for the enterprise? a. Organizing b. Staffing c. Directing d. Controlling 3. ___________ means “ group of activities & employees into departments”: a. Orientation b. Standardization c. Process d. Departmentation 4. This theory states that authority is the power that is accepted by others: a. Acceptance theory b. Competence theory c. Formal authority theory d. Informal authority theory 5. Which of the following means dispersal of decision-making power to the lower levels of the organization? a. Decentralization b. Centralization c. Dispersion d. Delegation 6. This chart is the basic document of the organizational structure: a. Functional chart b. Posts chart Examination Paper of Principles and Practices of Management 2 IIBM of Business Management c. Master chart d. Departmental chart 7. Communication which flow from the...

Words: 1349 - Pages: 6

Management Practice

...MANAGEMENT PRACTICE S.A.I.M. S.A.I.M. CASE-STUDY WORKBOOK Prepared by Dr Norris W Dalton. Copyright 2002 SAIM Management Practice 1 Copyright @ 2002 - South African Institute of Management All rights reserved. No part of this publication may be reproduced or transmitted in any form by any means, electronic or mechanical, including photocopy, recording, or any information storage and retrieval system, without permission in writing from SAIM. Copyright @ 2002 Copyright 2002 SAIM First Edition (2002) Management Practice 2 MANAGEMENT PRACTICE CASE-STUDY WORKBOOK CONTENTS Page 1. Introduction. 5 2. Management in Context. 7 3. Learning to be a manager. 9 4. Case-study analysis. 11 5. Problem-solving and decision-making. 14 6. Caselets: First-line and Middle-management (Tactical/operational levels). 21 7. Case-studies: Executive / Senior management (transitional / strategic level). 119 8. Case-studies: Management failures (Reference studies). 173 9. Lessons: 201 Business {Managerial) Failure. 10. References and Further Reading. Copyright 2002 SAIM 207 Management Practice 3 Copyright 2002 SAIM Management Practice 4 MANAGEMENT PRACTICE Management Principles are easy; Management Practice is difficult. 1. Introduction The Theory of Management (20%) is easy and can be learnt in a classroom setting, since it relates to knowledge acquisition and......

Words: 40484 - Pages: 162

Principles & Practices of Management

...Examination Paper of Principles and Practices of Management IIBM Institute of Business Management Examination Paper MM.100 Principles and Practices of Management Subject Code-B101 Section A: Objective Type & Short Questions (30 marks)     This section consists of multiples choice and short notes type questions  Part one carries 1 mark each & part two carries 5 marks each.  Attempt all questions  Part One Multiple Choices: 1. A plan is a trap laid to capture the ________ a. Future b. Past c. Policy d. Procedure 2. Which of the following is the function for employing suitable person for the enterprise? a. Organizing b. Staffing c. Directing d. Controlling 3. ___________ means “ group of activities & employees into departments”: a. Orientation b. Standardization c. Process d. Departmentation 4. This theory states that authority is the power that is accepted by others: a. Acceptance theory b. Competence theory c. Formal authority theory d. Informal authority theory 5. Which of the following means dispersal of decision-making power to the lower levels of the organization? a. Decentralization b. Centralization c. Dispersion d. Delegation 6. This chart is the basic document of the organizational structure: a. Functional chart b. Posts chart 1 IIBM of Business Management Examination Paper of Principles and Practices of Management c. Master chart d. Departmental chart 7. Communication which flow from the superiors...

Words: 1350 - Pages: 6

Principles & Practices of Management

...Examination Paper of Principles and Practices of Management IIBM Institute of Business Management Examination Paper MM.100 Principles and Practices of Management Subject Code-B101 Section A: Objective Type & Short Questions (30 marks)     This section consists of multiples choice and short notes type questions  Part one carries 1 mark each & part two carries 5 marks each.  Attempt all questions  Part One Multiple Choices: 1. A plan is a trap laid to capture the ____A____ a. Future b. Past c. Policy d. Procedure 2. Which of the following is the function for employing suitable person for the enterprise? a. Organizing b. Staffing c. Directing d. Controlling 3. Departmentation means “ group of activities & employees into departments”: a. Orientation b. Standardization c. Process d. Departmentation 4. This theory states that authority is the power that is accepted by others: a. Acceptance theory b. Competence theory c. Formal authority theory d. Informal authority theory 5. Which of the following means dispersal of decision-making power to the lower levels of the organization? a. Decentralization b. Centralization c. Dispersion d. Delegation 6. This chart is the basic document of the organizational structure: a. Functional chart b. Posts chart IIBM of Business Management 1 Examination Paper of Principles and Practices of Management c. Master chart d. Departmental chart 7. Communication which flow from the......

Words: 1350 - Pages: 6

Principles and Practices of Management

...Examination Paper of Principles and Practices of Management Subject Code-B101  This section consists of multiples choice and short notes type questions  Part one carries 1 mark each & part two carries 5 marks each.  Attempt all questions Part One Multiple Choices: IIBM of Business Management IIBM Institute of Business Management Examination Paper Principles and Practices of Management Section A: Objective Type & Short Questions (30 marks) MM.100 1. A plan is a trap laid to capture the ________ a. Future b. Past c. Policy d. Procedure 2. Which of the following is the function for employing suitable person for the enterprise? a. Organizing b. Staffing c. Directing d. Controlling 3. ___________ means “ group of activities & employees into departments”: a. Orientation b. Standardization c. Process d. Departmentation 4. This theory states that authority is the power that is accepted by others: a. Acceptance theory b. Competence theory c. Formal authority theory d. Informal authority theory 5. Which of the following means dispersal of decision-making power to the lower levels of the organization? a. Decentralization b. Centralization c. Dispersion d. Delegation 6. This chart is the basic document of the organizational structure: a. Functional chart b. Posts chart 1 Examination Paper of Principles and Practices of Management c. Master chart d. Departmental chart 7. Communication which flow from the superiors to subordinates with......

Words: 1349 - Pages: 6