BUAD realistic, and time-bound condition that must be

BUAD 801: Management Theory & Practice Registration Number: DP17MBA0967
A goal is a brief, clear statement of an outcome to be reached within a timeframe of 3-5 years. A goal is a broad, general, tangible and descriptive statement. It does not say how to do something, but rather what the results will look like. It is measurable both in terms of quality and quantity. It is time based. It is achievable. It is a stretch from where we are now. Above all, it is singular. Goals can be described or defined as outcome statements that define what an organization is trying to accomplish both programmatically and organizationally. Some common business goals are grow profitability, maximize net income, improve customer loyalty and etc. Notice the brevity of these statements. In comparison, an objective is a specific, measurable, actionable, realistic, and time-bound condition that must be attained in other to accomplish a particular goal. Objectives define the actions must be taken within a year to reach the strategic goals. For example if an organization has a goal to grow revenues. An objective to achieve the goal may be introducing three new products by 2018 Q3. Other examples of common objectives are, increase revenue by 5% in 2019, and etc. Notice how the objectives are more specific and provide more detail. A goal is where you want to be and objectives are steps taken to reach the goal. Difference between goals and objective
Goals
1. I want to be pilot by age 25
2. We would be a great country in 5 years
3. I want to be a professional in my field
Objectives
1. We will produce 500 grandaunts December
2. I will succeed in the tournament
3. We are winning the 2018 World Cup
It has been said that goals without objectives can never be achieved while objectives without goals will never get you to where you want to be. Indeed the two concepts are related and yet separate. Using both can enable you (or the organization) to be and do what you want to do. Some management academics would say the difference between goals and objective is a measure of progress that is needed to get to the destination. In this context goals are the long term outcomes the organization wants/needs to achieve. More than not, these goals are often open and unstructured in nature. Goals can be fluid and are directional in nature. Objectives tend to be short term and single achievable outcomes they are concrete in statement and purpose. There is no ambiguity as to whether they have been achieved or not.

BUAD and organizes people working in an

BUAD 801: Management Theory & Practice Registration Number: DP17MBA0967

Management seen as a multifaceted elephant is a figurative connotation and should be connoted as the multidisciplinary and expansive nature of management. Management can be referred to as a system which specifies and organizes people working in an environment where definite task can be achieved. The Management concept originates from 5000B.C. since the agricultural revolution. The industrial revolution gave birth to the emergence of management, with changes to a new manufacturing process from manual production. Specialization, standardization, synchronization, maximization, and centralization are the five main characteristics of the industrial revolution. The evolution of management thought is associated with political, economic and social forces. The two important approaches that have been developed in other to study management are the classical and modern approaches. The classical approach is further subdivided into three namely, the scientific management, administrative management and bureaucratic management. The three approaches elucidated by the modern approach are namely the quantitative approach, system approach, and the contingency approach. The multifaceted nature of management is also visible in its number of contributors. The notable scholars with many varying contributions in the field of management are Charles Babbage, Fredrick W. Taylor, Henry Laurence Gantt, Henri Fayol, Robert Owen, Max Webber, and George E. Mayo. The lean management and just in time concept are the latest trends in management. The 5s, Six sigma, and Kaizen are other impressive developments in management. The waste eliminating technique to improve production efficiency in organizations is referred to as the 5S which are made of Japanese words starting with ‘S.’ Developed by Motorola in 1986 a technique used by firms for improving quality to meet perfection is the six sigma. While Kaizen means change or improvement for better in Japanese words. It is a philosophical underpinning emphasizing continuous improvement in engineering, manufacturing and business processes. Harold Koontz 1961 publication “The Management Theory Jungle”, was as a result of the inquiry into why brilliant academics had come up with such diverse findings and council concerning the field of management. At the time the theoretical assumptions about management submerged into different school of thoughts. Twenty years later in 1980 precisely Koontz discovered after repeating his exercise that the different approaches in management had increased from six to eleven. Many other scholars have observed and critiqued the variations and specializations that have proliferated research and teaching in management after Koontz’ publications. Whitley in 1984 highlighted the fragments and proliferation of diffuse and unlinked ideas, objectives and techniques with multiple research interpretations as a function in management. Furthermore, In 1995 Donaldson saw the field of organizational theory consisting of multiple incompatible theoretical paradigms which negated one another rather than consolidation of associated paradigms.

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