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MODERN MANAGEMENT THEORIES ANDPRACTICES
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Managing is one of the most important human activities. From the time human
beings began forming social organizations to accomplish aims and objectives
they could not accomplish as individuals, managing has been essential to ensure
the coordination of individual efforts. As society continuously relied on group
effort, and as many organized groups have become large, the task of managers
has been increasing in importance and complexity. Henceforth, managerial
theory has become crucial in the way managers manage complex organizations.
The central thesis of this paper is that although some managers in different parts
of the world could have achieved managerial success without having basic
theoretical knowledge in management, it has to be unequivocally emphasized
that those managers who have mixed management theory in their day-to-day
practice, have had better chances of managing their organizations more
efficiently and effectively to achieve both individual and organizational
objectives. Therefore, managers of contemporary organizations ought to
appreciate the important role they play in their respective organizations if they
are to achieve set goals. Secondly, there is need to promote excellence among all
persons in organizations, especially among managers themselves.
To address these concerns, the paper will proceed along the following spectrum:
management will be defined for purposes of conceptual clarity; management
objectives, functions, goals, and essentiality, will be highlighted; the importance
of managerial skills and the organizational hierarchy will be sketched; the
importance of women in the organizational hierarchy will be emphasized;
reasons for studying management theory will be enumerated; the different
management theories, the core of the paper, will be discussed at length; the significance of management as a practice will be contextualized; and ‘the way
forward’ in form of a conclusion will be offered.