Management theories

Management is the process of co-ordinating people and other resources to achieve the goals of an organisation. There are many management theories but the most popular ones are from Frederick Winslow Taylor, Henri Fayol, Henry Ford and Elton Mayo with his Hawthorne effect. Taylor's theory is know an scientific management. According to Taylor there would be an increased in productivity if workers worked like machines. His theory is based on efficiency and productivity. His theory suggests that the best way of doing a job should be defined and only the right person should undertake this task, thus eliminating time wastage. He also suggested that motivation is purely on financial incentives and the more the reward if for doing a job, more effort will be put into the job by the worker. Fayol on the other hand suggested that division of labour should be achieved as this will give more authority and responsibility to the workers hence improving their motivation and productivity. Also according to his theory management should be centralised, which means that all decision making should rest with the higher management as this will increase efficiency. Henry Ford is famous for creating the moving assembly line which is nowadays use by almost all manufacturing companies around the world. He is also the founder of the Ford Motor Company. The ver first car produced by this company was the Ford Model - T which was also the very first mass produced car. Here's a short video on Ford, and the Model T car. Fordism, named after Henry Ford, is a notion of a modern economic and social system based on an industrialized and standardized form of mass production for maximum efficiency