masters degree in business management

masters degree in business management

The Evolution of Business Management: A Comprehensive Analysis

1. Introduction to Business Management

The dominant force destabilizing the global economic system is the transformation of business from its largely national role in the 20th century into two new forms: a multinational one and a “global” one; it is changing fundamentally the nature of the business enterprise, the role of business in society, and how business must behave in this new and rapidly changing environment in order to succeed. It requires the reassessment of most basic beliefs on business concepts, structure, and purpose; it requires the reinvention of management practices, both in the public and private sectors, to promote rapid adaptation to changing conditions, which are rapidly becoming a recurrent, central feature of the new era. This must be done if we are to maintain strong, relatively full employment. Failure to do so will likely produce extended and unsustainable economic and social dislocations, with corresponding political consequences that could restrict options for the future.

We are living in a time of fast-moving change—the most rapid in human history—and in a complex environment that is itself changing in many different ways; it is a challenging time, indeed. The changes taking place are so great in scale and speed that they give rise to a predominant paradox in our lives and work: on the one hand, they offer great opportunities for remaking and creating new worlds and ways of living and working; on the other hand, the speed and magnitude of the changes are producing disruptions that can create disorder in our lives and instill fear in many.

Management in Time of Change: The Evolution of Business Management

2. Theoretical Foundations of Business Management

Lately, stipulates the special role of manager, referred to as the main and essential subjects of management: Development “Modes of real management. Most of the managerial positions are passing through a known managerial level expressed in activities and competencies. Depending on the characteristics of carried out activities, the manager is classified in a super superior, average, base, and elementary. The competences in transformation mode, on the different hierarchical levels, are reflected in following. The company management system is related to the diverse sectoral “major de management”. In the process of social-economic development the “management major” determines the change, not in the same measure as the member major because, statistically, specialists had a lower number.

The definition of management, according to management science: Management is the organization and the realization of productive cooperation among the people in order to achieve established objectives using market economy and market economy elements stipulated.

Business management is reflected using the category “Management”. The term “Management” is derived from the Latin words “man” and “manus”. The suffix “age” testifies about the action, the activity, or the process itself. Our empirical observations suggest that in business management “manus” is human production, human working power, human knowledge, labor, sources, material values and value, organization techniques (research), practical application.

3. Key Functions and Processes in Business Management

If management is viewed from a broader perspective, it is likened to an inverted pyramid with the president rather on top and other top executives or directors just below. The group of managers just below these top executives form the first level of management with responsibilities for directing the overall growth of the business and controlling its activities to avoid mistakes and to assure its growth. This group of the management team is responsible for analyzing and orchestrating the many factors and integrating the company’s organizational structure. Below this first level of management, a second level group performs the business’s process. Each is part of the total organization’s process. Will be discussed the accountants, the production managers, the marketing managers, and the finance managers. The part which they perform can be performed separately by employees in varying quantities.

The business management includes four management activities. The first activity is planning. Planning means deciding in advance what to do, how to do it, when to do it, and who is to do it. Through the planning process, managers define goals, establish strategies to achieve these goals, and develop plans to integrate and coordinate the various activities and functions. The second management activity is organizing. Managers must mobilize their resources to execute the plans. To achieve company objectives and performance, managers undertake to develop both a structure and a social system within the organization. The third management activity is leading. Guiding and transforming management, executives must win confidence, respect, and willing cooperation from their subordinates. They must encourage a voluntary commitment to assist in achieving the objectives. The fourth management activity is controlling. Like a control tower at an airport, controlling relates to all the other management functions and activities. The purpose of control is to help the organization to adapt to changing conditions.

4. Contemporary Trends and Innovations in Business Management

The sphere of global business activity is continually changing, and not a single already existing model of management can remain unchanged. Simultaneously, along with traditional fields, the concept of management is now used in different spheres. At one time, largely because of the efforts of Henri Fayol, an early representative of the classical school, it was developed primarily for representatives of manufacturing and production professions. Later, parts of the management concept were taken up by the Taylorists and for a long time were exclusively associated with the scientific approach to work research (industrial engineering, human factor in work, job analysis, behavior at work).

Innovations in Management: Impact of Different Spheres of Life on Contemporary Management; Information Technologies and Their New Perspectives in Management; Corporate Business Management; Marketing and Management.

Significant changes are constantly occurring in the business environment, encouraging innovations at the management level. The management area is not an exception. During the 20th century, this industry became one of the most dynamic sectors, focused on solving changing problems. For this section, I have chosen different contemporary trends in the business world and innovations in management that have been identified by many authors, consultants, trainers, and mostly experienced executives.