The Key To Successful Management Is Efficiency"
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Submitted by marty019 on 06/30/2008 05:21 PM
The Key To Successful Management Is Efficiency"
Firstly defining management as the process administering and coordinating resources effectively, efficiently, and in an effort to achieve the goals of the organization (Robins et al 2006, pgs 7-9). Hence managers are people who work with and through other people by coordinating their work activities in order to accomplish organizational goals. Successful management is achieving these goals. Efficiency is summarized as "Doing things right." This is the ability to produce a good result without wasting time or energy such implementations can arise: regular training will improve staff efficiency, the introduction of new technology such as palm top computers for inventory tracking can increase efficiency of the distribution systems in most businesses. The Oxford dictionary of business English states "to be efficient is to be able to work well without making mistakes, wasting time and energy to produce a good result" (Oxford 1994, pg. 148).
Other critical factors also include Effectiveness "Doing the right things" through attaining organizational goals and changing the management of the organization as the company grows. It is argued that innovation is the third key to successful management; innovation is a process of taking a creative idea and turning it into a useful product, service or work method (Robbins et al. 2006, pg. 431). A significant change in work method through innovation can "pay for itself" through efficient use of resources, cutting costs, time and energy in a variety of different ways across a board of sectors.
Frederick Taylor and Henri Fayol both have contributed a great deal too modern management with their views on business operations (Robins et al, 2006). One of the biggest similarities that exist between the two theories is that they were both built around the idea of allowing an organization to operate at its optimal efficiency. While Taylor was working to improve the performance on the factory floor, Fayol took...
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