SYNTHESIS

Chapter 3: THEORY OF MANAGEMENT IN BUSINESS AND INDUSTRY

Abisado, Jona E. BSHM 4B

The Management Theories are ideas about suggested management methods,

which may include tools like principles and policies that can be used in the modern
organizations or companies. Management theories are concepts that suggest general
guidelines for managing an organization. This theory discusses how top management
implement strategies to achieve organizational goals and motivate employees to
perform to the best of their abilities. Management theories assist leaders and managers
in planning, controlling, directing, communicating towards their employees. Using
management theory in the organization enables managers to concentrate on their
primary objectives. When a management style or theory is implemented, it automatically
streamlines the organization's top priorities.

The relationship between management and organization is vital to improve the

company and achieve its goals and objectives. Management involves those who are in
responsible of the direction of the employment of their company's employees, those
who will see to it that the parts so organized and constructed are employed in service to
maximum benefit. Organization refers to the structure or form of a company and the
layout of all parts thereof in a manner appropriate for use in service. Management
consists of four functions: planning, organizing, directing, and controlling. To be a great
leader, the management must be able to do all four while managing the work and
employees. Planning is the first and most important function of management. Planning
entails establishing objectives in advance, a goal that must be met within a certain time
frame. To achieve the objectives, various alternatives are developed. To remain
successful, management depends on the coordination of various functions. There isn't a
single function that can ensure an achievement of project objectives. A business system
is a a set of principles, procedures, and methods that are applied to specific tasks in
order to achieve a specific outcome. Essentially, it is about developing a set of shortcuts
to ensure that everything is completed correctly. Many aspects of the business can
benefit from systemization. Having systems in place ensures that a function is always
performed to a high standard. Customers or clients will always receive the same level of
service. The management will be able to better manage its employees and ensure that
all tasks are completed. The basic management principles can be applied to any
business, large or small, partnership or corporation, industrial or commercial, because
they are focused on the knowledge or truth that all businesses have similar fundamental
objectives and operations.   These principles help managers become more efficient in
their job. The management should seventeen basic principles that the management
must consider to be an effective leader. The principles enable managers to determine
what actions should be taken to complete given tasks and to deal with situations that
might occur in management. Leadership has role in a management, leaders create
perspective, establish guideline, and encourage and align others to achieve goals. They
create new relationships and patterns. Within existing structures, managers plan,
organize, budget, coordinate, control, and execute activities. So, it is necessary for a
management that they are capable in handling the company and they must know on
how to lead their employees for the company to prosper and develop. The leaders in an
organization must consider these five characteristics that a great leader must have, a
great leaders must have a good physical and mental health, good character and
personalities and knows how to handle their employees in a very nice way, must have a
clear thinking and must be intelligent, and lasty must know how to communicate well on
his subordinates because communication is the key for the peace and harmony of an
organization.

In conclusion, in order to have great management in an organization, leaders

must consider all of the aspects discussed in management theory because these will
help the organization grow, develop, and succeed. Leaders must be efficient and make
an effort to manage well the company and its employees because employees are
important in the company, and it cannot function without them. And great leadership will
result in great task outcomes. Moreover, successful managers are created rather than
born. They are self-made through constant and never-ending self-improvement.
Everyone starts at the bottom and works his way up through long periods of sustained
hard work. The most important aspect of any organization's success is the consolidation
and cooperation of its management and employees, both of whom are working toward a
common goal.