by TheBusinessProfessor | Feb 23, 2025 | Management, Leadership, & Organizational Behavior
[cite] Back to: Business Management What are the Contemporary Management Theories? Contemporary or Modern Management Theory began with the work of Peter Drucker. He proposed the concept of Management by Objective. His work was a departure from the classical and...
by TheBusinessProfessor | Feb 23, 2025 | Management, Leadership, & Organizational Behavior
[cite] Back to: Business Management What is Management By Objectives (MBO)? Management by Objective, also called Management by Results (MBR), is a theory of management developed by Peter F. Drucker in his book Practice of Management (1954). In summary, MBO is a...
by TheBusinessProfessor | Feb 23, 2025 | Management, Leadership, & Organizational Behavior
[cite] Back to: Business Management What is the Quantitative Approach to Management? The quantitative approach applies statistics, optimization models, information models, computer simulations, and other quantitative techniques to the management process. Central to...
by TheBusinessProfessor | Feb 23, 2025 | Management, Leadership, & Organizational Behavior
[cite] Back to: Business Management What is an Organization? An organization is a group of two or more individuals and the coordinated allocation of resources around a common goal or objective. The elements that distinguish an organization from a loose association of...
by TheBusinessProfessor | Feb 23, 2025 | Management, Leadership, & Organizational Behavior
[cite] Back to: Business Management What is Organizational Effectiveness? Organizational efficiency concerns how well an organization carries out its tasks. It generally measures and balances the time it takes for completion and the costs to the organization....
by TheBusinessProfessor | Feb 23, 2025 | Management, Leadership, & Organizational Behavior
[cite] Back to: Business Management How is the Power or Authority of a Manager Measured? The authority of a manager is generally measured by the: Degree of control (power) exercised, and The number of individuals and resources subject to control. A managers power is...
