Management theory and its practices are mostly followed in which area and is it important to follow these theories for any organization to rise

Shantanu shukla Best Answer

There are many management theories floating around in the business world. Some are old and some are new. But pretty much all of them are based — in one form or another — on one of the 11 management theories on this list. Why is that important? Shouldn’t you concentrate on running your business instead of reading up on old ideas? Yes, you should focus on making your business a success. But that success depends, in large part, on the way you lead your employees. That’s why these management theories are so important: they give you concrete ways to inspire greatness in your team. In this article, we’ll give you a brief overview of the management theories every manager should know. Find one you like, do a bit more research, and then incorporate it into your business. 11 Essential Management Theories 1) Systems Theory Example of systems management theories At its creation, Systems Theory (or The Systems Approach) had nothing to with business management and everything to do with biology. That’s because Ludwig von Bertalanffy (1901-1972) — a biologist at the time — founded general systems theory (GST) in an attempt to refute reductionism and revive the unity of science. The premise of general systems theory is that a system is composed of interacting elements that are affected by their environment. Because of this interaction, the system as a whole can evolve (develop new properties) and self-regulate (correct itself). When applied to business, experts shorten “general systems theory” to just Systems Theory. In actual fact, Systems Theory is more a perspective than a fully formed practice. Systems Theory encourages you to realize that your business is a system and is governed by the same laws and behaviors that affect every other biological organization. This introduces such concepts as: Entropy — The tendency for a system to run down and die (a thing to be avoided in business) Synergy — Working together, the parts can produce something greater than those same parts could produce on their own Subsystem — The whole (your business) is built on subsystems, which themselves are built on yet more subsystems Because it is a way of looking at your business rather than a concrete management process, you can use Systems Theory in concert with the other management theories on this list. 2) Principles Of Administrative Management Miner and engineer Henri Fayol (1841-1925) developed his principles of administrative management as a top-down approach to examining a business. He put himself in his manager’s shoes and imagined what situations they might encounter when dealing with their team. From this, he concluded that his managers — and indeed management in general — had six responsibilities when it came to managing employees: Organize Command Control Coordinate Plan Forecast With those responsibilities in mind, Fayol developed 14 principles of administration that influence how managers should lead their teams. These principles, which range from the importance of maintaining a clean facility to the value of initiative and teamwork, are the foundation for many of today’s most successful businesses.