Contemporary management essay

In the words of George R. Terry, “Management is a distinct process consisting of planning, organising actuating and controlling performed to determine and accomplish objectives by the use of human beings and other resources.” The elements of management are: planning, organising, actuating (directing) and controlling.

They consider it as the essence of managing. Koontz and O’Donnell have classified the functions of management as follows: planning, organising, staffing, directing and controlling. These functions are inter-dependent and interrelated. There is no fixed sequence of their performance. They are performed more or less simultaneously.

According to Drucker, “Management, which is the organ of society specially charged with making resources productive, that is, with the responsibility for organised economic advance, therefore, reflects the basic spirit of the modern age.” 2. Essay on the Meaning and Definition of Management:

There are four known contemporary management approaches that include: sociotechnical theory, organizational behavior, quantitative management and systems theory. These management approaches are essential in analyzing the different organizational environments, including internal, macro and competitive environments.