Case Studies in Contemporary Management

Case Studies in Contemporary Management
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Case Studies in Contemporary Management

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Publisher: IK International
ISBN: 9789384588755
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Preface
Management The quintessence of any business I don t believe in taking right decisions, I take decisions and then make them right Ratan Naval Tata Today management has evolved from merely getting things done to empowering people to do the impossible, emphasizing that in the current competitive world, not even sky is the limit. It is time to think the unthinkable and do the undoable . The faculties of forecasting, planning, organizing, commanding, coordinating and controlling together form the concept of management. But at times the known, and many a times the unknown yet inevitable challenges demand that management constantly upgrades itself within each faculty to adapt itself with the changing environment and maintain equilibrium. If we analyze, every action of ours in our day to day lives, is unconsciously managed in its own way. Some term these actions as our karma and for some these are simply the choices that we make. But be it karma or choices, they do have some undeniable element of management involved. In the business context, management is the very pillar of the existence of any business entity, organization or a business venture. It is by the virtue of this business management that the entire functioning happens effectively and efficiently. Management across various schools of thought has been interpreted variedly. While some interpret management as a science, for some it is an art. Few refer it to as an academic discipline and others as a process or an activity. Many people best understand management basically as a profession. But in any construal, management involves transforming some inputs into desired outputs using various factors of production . The Early Management thought pioneered by Adam Smith s concept that market and competition are the regulators of economic activity laid emphasis on division of labor for increased productivity. Robert Owens on the other hand criticized division of labor suggesting that each worker can perform various tasks and must switch from one to another. Charles Dupin stressed on the need of giving clear and crisp instructions to workers and laying down the most efficient way of doing any work with minimum energy of the worker being utilized. Thus factory system and its challenges dominated this time period. This was then followed by the Scientific Management era. The most eminent pioneer of this period Frederick Taylor introduced incentives to
vi Preface
be given by the piece-rate system based on disintegration of tasks into its basic movements. He emphasized on management finding one best way of doing a job . Henry Towne also proposed the gain sharing to enhance the productivity of workers. Henry Gantt contributed the Gantt Charts as a graphical tool for assisting management s planning and controlling functions. Frank Lillian Gilbreth the 1st lady of management propounded the Time and Motion concept. The management theory then encapsulated the Administrative aspect with Henri Fayol s contributions. He gave the 14 principles essential for