Essays on Management Theory

The growth of Amazon to a global retail company is basically due in part to the management practices by its Chief Executive Office and how such practices affect the planning, control, and management of a company. Most CEOs embrace unique Organizational structures towards the operations of their companies. The organizational structure of a company is important since it outlines how various activities such as supervision, work coordination, and allocation are handled by an organization to achieve the set aims and goals. A good organizational structure creates opportunities for business growth. The Chief Executive Officer(CEO) of a company has ...

Management Theories

Management Theories

Introduction: Overview of Management

Human beings will remain to be the most complicated assets to manage in an organization unless probably the day computers will think, feel, and learn to do things without human intervention. Until then, every manager needs a management concept that will assist him or her to manage these complex resources. Management refers to the process of locating, organizing, planning, leading, and exercising control over the workforce among other resources. Every manager needs to have the necessary skills in making decisions and resolving issues for him/her to be effective, efficient, and beneficial.

In essence, managers’ primary role is ...

Introduction

Management is a task that brings together the various aspects of the roles of managers. In particular, the tasks performed by managers in organizations are quite huge because it is essential that a person is courageous enough to deal with the various views and characteristics of people that make up the workforce of the organization (Rice, 2013). Therefore, the analysis of the effects of the management theories on the management roles of managers is a timely analysis that requires adequate time and resources for the investigation of the various aspects of the subject.

Part 1

The analysis will incorporate a case ...

Discussion Question

Discussion Question 1

Professional socialization involves the interaction between health providers and their colleagues and the interaction between the health provider and the patient, family, groups, or communities. In the healthcare workplace, professional socialization occurs through nurses working together in a specific department to ensure total and quality delivery of care that ensures positive outcomes. Nurses help one another solve health care problems, assist each other during shifts, and share knowledge and skills about on how to deliver quality care. On the other hand, professional socialization between nurses and patients occur when both have close relationships. The Orlando’s ...

In this paper, we will explore the psychological impacts of two human-made disasters. One that happened during the First World War, and the other one is a recent terrorist attack in Paris, in 2015. The Lusitania Disaster was an attack from the German army to a British ship liner coming from New York to Liverpool, UK. The terrorist attack in Paris however was not a war attack, so people were not expecting anything as such. However, it can be argued that we are on a war today, that begun by several attacks of radical Islamic groups against the West. ...

INTRODUCTION

There have been many different ideologies, perspectives, approaches and philosophies that human beings apply to their spiritual beliefs, the political views and the values that control day-to-day lives. This is true in all of the disciplines dedicated to pursuing an understanding how people behave in all sorts of situations, including from the psychological, sociological and criminological. Classical Organization Theory is one of these concepts. Classical Organization Theory works under one basic principle, there is one best and most correct way to accomplish any given task. Classical Organizational theory can be applied to business environments, healthcare and, very often, within ...

Question 1:

Several legal and ethical principles influence the workforce in healthcare organizations, particularly in light of employees belonging to diverse cultural backgrounds coming together for achieving common organizational goals. Towards managing employees in a huge healthcare setting it would be effective for HR functionaries to understand the legal relationships existing between the organization and employees in the first place. Most importantly, healthcare organizations that employ diverse employees must clearly define ethical behavior patterns of employees among each other and with the patients and their family members. Ethical behavior with employees belonging to another culture calls for not only treating each ...

Smoking, drinking, overeating and accumulating stressors are behaviors that become pronounced in adulthood though they trace their origins to a much younger age probably around the teenage years. These behaviors do not just crop up out of the blues. They start and develop over a period. The various theories and theorists in this context are keen on pointing out the psychosocial nature of an individual. They show how the actions and expectations of a person conflict with those of society and how that could therefore lead to various behaviors in adulthood. The theories in contexts have their different ways ...

Introduction

Change is a perpetual in today’s fast paced world. What is modern today becomes obsolete tomorrow. New technologies mean a change in the way on thinks, learns and gets his information or uses it. Any organization may feel the challenges brought about by those new technologies and why they need to implement them within their culture. Any change within or outside an institution is sure to incite mixed reception and perception among its members and clients. The essay applies a change theory to an organizational-based on Kotter’s change model and plans a change process. The change process ...

Video Games and its Cultural Implications

Introduction The advent of new technological innovation in recent years resulted in the introduction of video games which is now considered as an integral part of our life. Video games are almost everywhere, and they serve, not only as a means of entertainment us, but also as a form of socialization, skills training and to experience real-world events through simulations. Accordingly, there are myriad of responses towards the popularity of video games, and this is especially so with the linkage of this form of entertainment to violence and aggression, many examples of which represent extreme and realistic violence (Griffiths, ...

Introduction

The use of physical restraints in the care of psychiatry in-patients has been prevalent for centuries. However, in recent years there has been a call among nurse practitioners to reduce and altogether eliminate the process which is in contrast to the goals and ethical practices of the nursing professions which states that all human beings have the right to autonomy and the right to be treated with dignity. After examining the existing research on the use of restraints, it is proposed that a reduction in restraints is beneficial to patients and improves quality of care. This paper will present ...

Stakeholders Relationships and Company Performance

Employees are valuable assets to the company as they determine the fate of the company success. The management of any business needs to treat their employees in the best way possible so that they remain loyal to the enterprise. In the marketing department, the employees in this department are vital as they sell the image of the company to the public. Personnel in this department have a direct interaction with customers to the organization. Marketing and hospitality tend to be similar as customer loyalty depends on the treatment they receive when they interact with the company employees or agents. ...

Management Theories and the Workplace

Business

Management Theories and the Workplace

Introduction

This paper is devoted to the issue of management theories and how they can impact on the workplace in the supply chain management. As we know, the management theory is a combination of knowledge about the laws and regularities, methodology and methods of implementation of the management activity. The science of management creates, organizes and disseminates knowledge of how to carry out management activities relying on the knowledge of the three basic sciences (psychology, economics and law). The subject of the management theory is the administrative relationships, in which both economic, social and ...

Classical Organization Theory

The classical organizational theory is identified as the oldest school of management pre-dated in the early twentieth century (Shafritz, Ott, and Jang, 2012). This theory is premised on efficiency of bureaucratic systems that operate in an organization. This school of management is based on ensuring maximum productivity of an organization’s systems. In this regard, this theory involves centralized decision-making, specialization of labor, and maximization of profit. For this reason, the theory encompasses a combination of three distinct concepts, bureaucratic, scientific, and administrative theories (Daft, Murphy, and Willmott, 2013). The classical organizational theory was advanced by the first scholars, ...

Question 1

What makes a business a sustainable one? Discuss the theory and practices associated with sustainability using examples from your own learning during the module. Sustainable business refers to a business model that has low negative impacts to the environment, society and to the economy at large. A sustainable business is the one that has the ability to meet the triple bottom line (TBL). TBL is an accounting framework that encompasses the social, environmental and financial responsibilities. This termination was coined by John Elkington in his 1994 publications on the triple bottom line. He reflected on the drivers that had ...

Abstract

Many scholars in the management field have spent most of their time trying to come up with theories that explain management. The work of these theorists, however, has not gone to waste as there are very many theories that have come up as a result. Management theorists have been linked to improving the quality of products and services being offered by any organization by using their creative minds in developing ideas that solve problems. For one to be well conversant and an expert in the management field, he/she must study and try to emulate the work of these theorists. ...

Literature Review

ABSTRACT Communication privacy management model compacts with the degree of exposure of people's personal information and their confidentiality during communications. It concentrates on people relationship management which separates the public information from confidential information about themselves. Communication Privacy Management is a practical model that suggests an appreciation of the way people reach judgments and how often to disclose and when to mask confidential data. The argument assumes that privacy together with the disclosure are entangled in a dialectical pull, and therefore, decisions individuals make are on the complementary level of every individual. Through the use of a metaphorical margin, ...

[Institute]

Introduction

During the last few decades, the way of doing business has transformed drastically. Previously, the term management and administration were synonymous to each other. The basic notion of managing people revolved around the idea that employees should be controlled to achieve the business objective. Now, employees of the organization are considered the most valuable asset, and they are developed significantly (Morden, 2004). This paper presents the case of a highly experienced professional named Robert, who has worked for Recycled Furnishing for a multitude of years. During his association with the company, the organization saw great heights of success. ...

Performance Management

Abstract Performance management is an essential element in any organization. Measuring an organization's performance harness the management's ability to evaluate the company's position and determine its capacity to stipulated objectives. Subsequently, through performance evaluation, an organization receives real-time data documenting its progress, strengths, weaknesses, threats, as well as potent opportunities. Therefore, the received information plays a focal role in guiding an organization towards achieving its mandate and surpassing numerous obstacles. Dr. W Edward Deming, an American engineer, lecturer, statistician, management consultant, and professor unveiled the System of Profound Knowledge. Though it marked the culmination of the professor's works, he ...

Is management theory scientific?

Management theories are specific beliefs that have been formulated about a highly interpersonal and subjective area of organizing and managing human subjects. Calling management theories as purely scientific in the truest sense of the word can be erroneous because many of the current management theories did not necessarily undergo the strict and rigorous process involved in the scientific process.

Critically evaluate the contribution of Taylor and Toyota in management theory

When examining management theories, Frederick Winslow Taylor’s scientific management theory and Toyota’s 14 principle theory will almost always be involved. Below is a discussion of the contributions of these two turning point theories in the way management principles are seen ...

One of the most famous leaders in management named Professor George Elton was born on 1880 in Australia. He was graduated in psychology at Adelaide University. He had joined as a lecturer in Logic, Ethics, and Psychology in 1911 at the University of Queensland. Later on, he became a professor of Philosophy. In 1923, he had shifted to USA and had posted at Pennsylvania University. Mayo was involved in some experiments. Elton Mayo was considered the fathers of the management thinkers and human relations movement. He was famous for his work on the studies of Hawthorne. In 1928, ...

Introduction

As modern contemporary society draws its attention to labor-intensive approach to production, business analyst has become interested in determining what could constitute to increasing workforce efficiency. This was when the concept of motivation came into place, and intellectual leaders in the likes of Frederick Winslow Taylor began formulating a model or framework that would suffice for economic efficiency alongside work productivity. It is not a surprise that economic institutions began extending its resources to help power the thriving and yet promising business economy. Frederick Winslow Taylor initiated the application of blending in the principles of science to the engineering of ...

Fredrick Taylor developed the scientific management theory to increase economic efficiency by improving labor productivity among workers. The phrase ‘scientific management’ is derived from the systematic and observational ways used to analyze and arrange work for regular members in industries. The theory, which is based on facts, was proposed in 1930’s, but it is still applicable to date. Taylor argued that the aim of an organization should be to maximize the employer’s prosperity and improve on employees’ productivity level (Tompkins, 2005, p.26). There are four principles attached to the theory of scientific management: development of scientific ...

Fredrick W. Taylor started the scientific management movement. Taylor’s perspective focused on the principle that maximizing work performance done is more efficient than imposing on people. Taylor’s four doctrines of management were one; use scientific methods instead of the rule of thumb to study the work. The second rule is to match workers to specific jobs based on the motivation and productivity rather than random assignment. The third rule is to watch the performance closely and offer supervision and instructions. The fourth doctrine as advanced by Taylor is to allocate jobs between workers and managers. Frank Gilbreth ...

2.1 Introduction 2.2 Airport Development 2.2.1 Airport History The history of the development of airports worldwide dates back to the late 1800s with the first ever professionally functional airport according to NYC Aviation (2012) was developed in the outskirts of Paris dubbed Port Aviation. This fact is however indispute since other factions lay claims to being the world’s first or oldest airport. For instance according to Prince George’s Department of Parks and Recreation (2010) College Park Airport in Maryland is the oldest airport that is functional to this day having been established in 1909 ...

Management and Leadership Development

Introduction Competitions among organizations are tight these days. The success or failure of the company’s market edge in the industry largely depends on the effectiveness of their respective management teams. Management effectiveness includes, but is not limited to, creativeness and the ability to think outside of the box. Resourcefulness and strategic skills are essential in determining ways to outsmart the competitors in today’s global industry. In this paper, readers would get to learn about the techniques and strategies to manage global organizations effectively. Readers will learn the competitors’ edge over one company in relation to management ...

R.M.S. Lusitania, 1915 versus September 11, 2001 R.M.S. Lusitania, 1915 versus September 11, 2001 In the course of human history, people have felt the cause and effect of disasters many a times. Natural or manmade disasters have caused immeasurable damage to human lives and property that they evade all reasons and logic. Natural disasters cannot be avoided or prevented because they are nature's outburst. Whereas the effect of manmade disasters is more profound because in the reason for their occurrence is completely human folly. Manmade disasters range from wars, terrorism, chemical warfare, and human errors. This paper tries ...

Implications on Managing Organizational and Personal Change for Organizational Practice

Overview In an organization where people are striving to achieve a particular goal, there exists collision of strategies instituted by individuals towards perfecting a given task. Managers and junior employees utilize the learned expertise to perform a given task, a situation that culminates in acrimony especially if either of the individual models performs dismally below expectations. Such collisions are the hindrances to change management in the organization. Change in an organization is presumed to be inevitable especially if it emanates from the looming threats from competitors or economic demands. The senior management takes the lead to instigate appropriate changes to be implemented ...

Executive Summary

This essay aims to discuss certain aspects about various aspects of Career Management theory and its application with regards to an organization. Career Management is crucial and vital for any organization. It involves management of the entire organizational specific operations and Human Resource of the organization in an efficient manner that can best result in terms of productivity and growth. It will also highlight certain recommendations that are important to empower the employees of the organization. Physical, Capital and Human Resource are amongst the key assets of any organization that can play a very critical and important role in ...

Management

Introduction History has its own professional benefits and studying it makes sure we will not repeat the same mistakes that were made a long time ago. Our Corporate World is more complex than we think it is, and making a mistake here means inducing a loss. Management theories make it simpler, easier to evaluate and decrease the chances of loss induction. Today management is what it is because of the great men we will discuss about later on. Taylor encouraged planning in the first phase, he emphasised over the importance of planning for all sizes and types of organisations. He ...

Introduction

Bureaucracy as a management of an organization by non-elected officials has long been there in society and firms since 20th century. This form of organization is prevalent both in the public and private sector. The evidence of techno-management or technology management being usurped by bureaucracy is plentiful. For example, techno-managers need for control and domination is evidenced by their language at work by use of words and phrases such as “how many people work for you?”, “subordinates,” “my people” and “staying on top of things,” etc. These indicate the necessity of separating bureaucracy from techno-management; while doing so, one encounters ...

Learning about management, in theory and practice, drives the quest to be better leaders. Good management practices go hand in hand with good leadership. This paper looks at the basic summary of the book entitled, ‘Leadership and the Art of Struggle – How Great Leaders Grow through Challenge and Adversity’ written by author Steven Snyder. Every organization, company, and institution needs good management. However, every company or organization does not have good leadership or management. Steven Snyder’s book looks at different ways how to develop good leadership skills. The book is divided in to three parts. The first section ...

Introduction

Change has become an essential part of the organizational strategy. In today’s competitive environment, organizations need to change its strategies, policies, structure and style if they want to be successful and meet the changing needs (Martin, 2006). Moreover, with the changing external and internal environment, an organization needs to adjust accordingly to be successful. Organizations face consequences of being rigid if they do not change at the right time. Thus, it shows that the organization should change with the changing environment. Organizations need to consider different aspects when they are planning to grow and expand, and therefore to ...

Nestle Company is a globally operating company that deals with food and beverage. Its headquarters are based on Vevey Switzerland with numerous branches all over the world. Among the products produced by the company are coffee, bottled water, tea, milk products, breakfast cereals, and baby food. Based on revenues, it is ranked as a leading food company in the world. Nestle Company management practices are the leading process that ensure proper and efficient running of the business. The company employs different management theories to ensure it retains its market share and remains at the lead despite the current competition from many ...

Introduction

Effective and efficient decision-making in service delivery can be compromised by non-involvement of key personnel or over-involvement of lower-echelon employees, which leads to a slowed-down process. The problem is how to determine the trade-offs to make in this situation as well as the strengths and weaknesses of the traditional, top-down approach versus the horizontal approach. This question is especially important today because, in the recent past, decision-makers in the public and private sectors have made a high number of poor decisions. An example of this is the securitization of subprime mortgage loans or using credit default swaps to hedge risk. This ...

VODAFONE GROUP PLC REPORT

Vodafone Group Plc Report

Introduction Vodafone Group Plc. is one of the global primary mobile telecommunications firm. The company is the prime telecommunication network globally founded on revenue (market value of around $72 billion). It is a United Kingdom based firm, established in 1982. Apart from UK, the company has a noteworthy presence in United States, Europe and the Asia-Pacific region through subsidiary undertakings, direct investments, joint ventures as well as associates. In addition, in these regions the company operates in 31 nations with further partner networking in more than 40 countries. This conglomerate group is engaged in distributing mobile ...

Business

Introduction: When Money is not a motivating force in the workplace Today's management theory is a mere result of the interdisciplinary efforts of numerous people in that Civilization seems to be the creation of folks who originated before modern people. That said, the growth of current management thinking begins within the nineteenth century while it succeeded during the twentieth century. The twentieth century has perceived an uprising in management theory ranging from classical theory to the Japanese administration approach and the like. Management thinking, however, was slow to evolve during the century. There was a necessity to define what management ...

EVOLUTION OF MANAGEMENT PRINCIPLES FROM THE CLASSICAL SCHOOL TO THE PRESENT

Introduction Management theories and practices today have evolved through the years. The changes in approach to management theory depict the economic and social trends, milieu, and attitudes. In order to comprehend the various approaches, it is crucial to explore their evolution (Duft, 2013). Comparing and contrasting the management theories highlights their differences and similarities in concepts and practices. The analysis shows how management practices evolved to the modern day management theories. Management is a theoretical discipline that dates back to the 199th century; it emerged due to the need for control and coordination of many people working in the ...

Application and Analysis Essay

Communication problems Communication is a very important tool in the day to day experiences of a human being. Almost all the events that take place are coordinated by communication, whether visual or audio. As such, the involved parties need to ensure that proper communication is achieved. One of the problems that may arise from the communication problems is that conflicts may arise. Poor communication is almost likely to lead to misunderstandings, hence causing a major conflict or even making it worse than it was expected. The beginning of a conflict, on the other hand, creates more communication problems as the parties that ...

The managers of today has access to unlimited number of resources, but things were not so hundred years back. Thanks to the early management theories which could guide them to develop their management practices . Theorists like Fayol, Taylor, and Weber etc. contributed their efforts in the field of management which made foundations for modern management theories. Henry Fayol (1949), came out with administrative approach of management and he believed that management is an activity which is common to every field of human activities . He is supposed to be founder of classical management school as he was the first one ...

Movie review Hoosiers

Based on a true story of the Milan High School basketball team that won the state championships in 1954, the movie Hoosiers is a sports film that recounts the story of achievement in a small town basketball team in Indiana High School. The group of underdogs the ‘Hickory Huskers’, was able to become champion under the leadership of a hardworking basketball coach, Norman Dale. From the movie, significant lessons are learned on the importance of effective leadership and management for the successful coordination of groups, organizations and teams. Although Dale faces resentment from within the team and the town, he is still able ...

The Hunt for Red October Movie Essay

Directed by John McTiernan, the movie, "The Hunt for Red October" revolves around the ‘Red October’ an underwater Typhoon-class war submarine. The action movie is engaging and filled with brilliantly done scenes well mixed with political twists, turns and intrigues. It is the management setting in the movie however that is of major concern in this essay. A clear understanding of the significance of management in decision making has a strong statement throughout the movie. The essay will cover critical aspects of management such as leadership that is well illustrated by the two main protagonists of the movie, Jack Ryan from ...

Abstract

Popper’s View on Science Applied to Management Theory

Introduction

Popper’s view on science disregards the induction, considering that theories must be submitted to experiments before considered scientific, otherwise things, if they cannot be experimented, theories are not scientific, but of other nature, such as metaphysical, and the philosopher aims to differentiate between the empirical science and the metaphysics (Corvi, 2005). This perception contributes to expanding human knowledge, because taking knowledge for granted determines scientific stagnation, while testing proven theories as falsifiable leads to further discovery and learning new theories, generating scientific advancement. Applied to management, Popper’s view ...

Abstract

We have seen changes in the way management theory and leadership strategies are looked upon in the last 100 years. Conjured under the backdrop of numerous and varied events such as the industrial revolution in the early 1900s, the equalization of the treatment of races and gender, through the various economic depressions and worldwide political changes, the management aspect of business and life in general, has evolved at a sharper and more meaningful rate. This paper examines the evolution of management, from its early beginnings, to the scientific method espoused by Taylor, the findings of Henri Fayol, the summation of ...

Part 1.

The cost, time, specification triangle is a visual way of expressing the constraints that govern all project management projects (Lock, 2007, p. 7). It is a useful way to show the relationship between the key components of a project and because of their inter-relationship, it provides a reminder that changes in any of the three constraints will have an impact on the remaining ones. However, there are issues when attempting to use this approach as the sole way of determining if a project was successful. In particular, the cost, time, and specification are always determined in relation to the needs of the client for ...

The Classical approach is one of the most influential theories of management. Its influence may be dated back to its exclusive impact during the industrial Revolution. This management approach is reliant on unique principles of balance in authority and responsibility, division of labor, delegation to build as well as unity of command. The approach is extremely critical in the definition of excellent management as well as the process of management. This approach is based on several theories that were fashioned by theorists; Weber, Taylor, and Fayol. Each of these management theorists has come up with unique arguments that are ...

Management Organizations: Managing Healthcare in Multicultural Organizations

Introduction The provision of quality healthcare is an integral part in the management of all progressive societies. The existence of multicultural societies presents a big challenge in the provision of equitable healthcare. Culture is a complex aspect of life which incorporates language, sexual orientation, socio/professional status, gender, socio/economic status, race among other factors. These cultural aspects are intertwined with healthcare needs such as varied prevalence of certain diseases among certain cultures and cultural influences on dieting and nutrition among others (Muller & Haase, 1994). Healthcare management theories which healthcare managers can apply in the management of multicultural healthcare are attribution theory, ...

Executive summary

The advancement of technology has seen many organizations ignore the traditional strategic approaches and embrace the new technological strategies. The digital music service company, Spotify Limited is not left behind because it uses technology in marketing its services. The company adopts the management theory in developing information technology strategies. The findings show how the company has used technology as a strategy tool, the e-business strategies adopted, and the ethical issues in the company information technology. Finally, the discussion gives three recommendations for Spotify Limited.

Introduction

Spotify Limited is a digital music service providing on-demand access to songs on phones, tablets, computers, and ...

Executive Summary

Aalborg Industry Vietnam has been marred by the problem of cultural adaptation for a long time. Conflicting cultures of the Danish workers and management and that of the Vietnamese workers and management often clashed, and to some extent, these clashes can be blamed for the poor performance of the company in the country in the initial years. Cultural perspectives of functionalist and constructivism have been used to explain the cultural problems and those of HRM that were experienced in the company. The functionalist perspective views dysfunctions in the operations of an organization emanating from any part of the company to ...

Executive Summary

China is recognized as the fastest growing countries in trade. There are various products that are sold in China and the market has been declared favorable to many due to its high demand brought about by the high population. Lipton tea is a product of Unilever Company which was recently launched in China and its market has been tremendously increasing for the past few years. Unilever caters in three types which include personal care, food brands and home care brands. Personal care brands include Lotions, creams and soaps, Food Brands include Lipton and Blue band while home care brands include ...

Change management refers to the approach that a manager, an organization or an individual uses to shift from one organizational state to another (Gans 2011). Change is inevitable, and changes always occur in various organizations. The prime concern for organizations, when it comes to organizational changes, is how well the stakeholders will adapt to change. Adaptation, control and effecting change are the most crucial aspects of change management. The main goal of change management is usually to reduce any negative effect of such change on the organization and employees through control of organizational change efforts (Gans 2011). Organizations have realized ...

Theories in the management practices during the early stages did not exist as theories. The earlier distinct practices and occurrences have constantly undergone syntheses and modifications resulting in the currently identifiable theories. As such, there are a number of hypothetical approaches with varying level of suggestions and assumptions. The available theories therefore share a symbiotic relationship with each other as regards the sustaining disciplines. Theories are in management are intended to ensure that all aspects which enhance fine organizational practices are brought to the fore (Daft, 2005). With regard to the management, the three major theoretical approaches relate to classical management, ...

Introduction

Nursing burnout has been a problem for hospitals and health institutes administrators for years. Addressing problems caused by nursing burnout plays can actually be alarming considering the fact that it can affect the credibility and reliability of the healthcare services available in the hospital as well as its capability to handle patients. Therefore, it is of utmost importance for researchers as well as the nurses themselves to know the causes, risk factors, and the effects of burnout to themselves and their patients. Nurses should always be on call and ready to deliver high quality nursing services and they surely would ...

Financial risk management is important for any firm’s success and survival in today’s corporate world. There are several strategies employed by firms to mitigate risk. Hedging is a strategy used in risk management aimed at minimizing or eliminating the probability of making losses due to translation exposure, transaction exposure and economic exposure. There are several techniques used by firms to hedge against risk, they include; money market and commodity market hedge options forward contracts, swaps and currency futures. This paper aims to critically appraise the theoretical and empirical literature for and against the use of the various hedging ...

[Faculty]

Abstract

It is a fact that every organization has its eye on increasing its profitability with time. In line with this thought, researchers and scholars have come up with models and theories that have helped business enterprises to become stable in their quest to remain relevant in the market. Many companies have adopted different theories and models that have seen them through time and have helped them to remain profitable. However, it is also clear that the market is a relatively volatile arena that has, in recent years become quite unpredictable. Major organizations that compete for the same resources and markets ...

Executive Summary

The roots of scientific management can be traced back to the 1800s. Although, Frederick Taylor is considered to be the father of scientific management theory, it was Adam Smith, an economist who first came up with this theory. He started his research in a relatively humble manner in a pin manufacturing factory. He had focused on the simple tasks and sought ways to improve the efficiency of the workers. From the implementation of his findings, the company was able to raise their output of 20 pins produced by per employee to over 4800 pins. The next major leap in this ...

Application of Management Theory to Criminal Justice Organizations

Introduction In business, there are a lot of theories that can be used to boost up the efficiency of handling that particular business. In criminal justice however, some laws and theories can be also applied just like the way they can be applied in a business setting. A typical but accurate example of such is the management theory. First, let us first know what criminal justice organizations are in general. A criminal justice organization is, by virtue, an organization that deals with criminal management. An organization is defined by the Human Rights and Social Justice organization as a set or arrangement ...

Introduction

Administrative management theory is one of the theories in the classical management theory. Pioneered by Henri Fayol, the theory focuses on management of organizations in the most efficient way for the benefit of the total organization. This theory developed at the same time with the scientific theory of management and it emphasized on the functions of management. The theory “emphasized management functions and attempted to generate broad administrative principles that would serve as guidelines for the rationalization of organizational activities” (Drucker, 2007, p.132). This paper describes the administrative management theory, its initiator and the changes made to allow it ...

Introduction

The 1950’s were a remarkable period in the business world. The world at large was on a recovery path after two devastating world wars which had changed the focus of business towards the provision of military goods than on providing quality value to customers. Production was mainly concentrated on few organizations and was characterized mainly by bureaucratic methods of organizational management. It was during this period that there was increased pressure to develop internal methods of cost evaluation that would aid in the decision making process of managers. It was necessary to have in place relevant accounting information that was ...