Six Theories of Management with Modern Management Practices

        Theories of management are of utmost importance for any business and organization. Many experts have presented different management theories for the successful running and managing of organization. These ideas are called as six theories of management. Here is the list of Different types of management theories are discussed in details.

        The first theory about to be discussed is the:

1. Scientific Management theory

        Presented by Frederick F. Taylor, his idea is to run an organization in a scientific way, On the surface, this theory held great value. The scientific theory aimed to make work more efficient. Unfortunately, the theory had some major flaws as well.

        Taylor created four principles of his scientific management theory. 

            ० First, each task should be studied to determine the most efficient way to do the task.                 This disrupts traditional work processes. 

            ० Second, workers should be matched to jobs that align with both their abilities and                     motivation. 

            ० Third, workers should be monitored closely to ensure they only follow best working                     practices. 

            ० Fourth, managers should spend time training employees and planning for future                         needs.

        There are a few positives of this theory. Maximizing efficiency is a great idea. Assigning workers to jobs based on their abilities and motivation levels is also an interesting idea that could have beneficial effects in some areas.

        That is all for the Scientific Management Theory by Frederick F. Taylor. Now the second theory to be discussed is the:

2. Administrative Management Theory

        Presented by Henri Fayol, his idea focuses on the manager rather than the workers. He emphasized the training of the managers for the betterment of an organization. He defined administration in terms of five functions which are: 

            1. Planning 

            2. Organizing 

            3. Commanding 

            4. Coordinating 

            5. Controlling

Followed with his fourteen Principles of Management. The 14 principles are as follows:

• Division of work – Employees should have complementary skill sets that allow them to specialize in certain areas.
• Authority – Management needs authority to give employees orders. This authority must be agreed upon.
• Discipline – This gets to the idea of employees listening to commands and being disciplined in getting work done. If a manager sets a deadline, an employee should have the discipline to meet it.
• Unity of command – Employees answer to their managers, and there aren't a bunch of unnecessary people involved with the process. Going over your manager's head would be an example of breaking this principle.
• Unity of direction – Teams should be striving for common goals.
• Subordination of individual interests – The team comes before the individual.
• Remuneration – There are monetary and non-monetary versions of remuneration. Both are needed to motivate employees.
• Centralization – There should be a balance between decision-making power. For example, a company's board of directors should have a say, but the midlevel managers shouldn't be overpowered.
• Scalar chain – Each company should have clear hierarchical structures.
• Order – This refers mostly to cleanliness and organization within a workplace. An office shouldn't be disgustingly messy.
• Equity – Employees should be treated well.
• Stability of tenure of personnel – This principle suggests that businesses should try to limit turnover and keep employees around as they accumulate knowledge and improve.
• Initiative – Employees should share ideas and be rewarded for innovative thinking and taking on new tasks.
• Esprit de corps – Employee morale matters. This principle suggests that managers should work to keep employees engaged and interested.

        That is all for the Administrative Management Theory by Henri Fayol. Up next next:

3. Behavioural Management Theory

        Presented by Elton Mayo, he believed that productivity increases when people feel like they are part of a team and valued by their co-workers. This theory emphasizes praise and teamwork as motivational factors.

        Elton focused on five concepts:

1. Morale 

2. Group dynamics 

3. Democratic supervision 

4. Personal relations 

5. Behavioural concept of Motivation

        This is Behavioral Management Theory by Elton Mayo. Next theory to be discussed upon is called:

4. Bureaucratic Management Theory

        Created by Max Weber. This theory states that an organization will be most efficient if it uses a bureaucratic structure. Weber's ideal business uses standard rules and procedures to organize itself. He believed this strategy was especially effective for large operations.

The theory includes the following five principles:

• Task specialization – Weber stressed the importance of each employee fulfilling a specific role within a company.
• Hierarchy – Weber wanted each company to have a clear hierarchy within the organization.
• Formal selection – When selecting leaders, businesses view a person's qualifications. They should be appointed to certain roles based on qualifications, which means they won't be elected by vote.
• Rules and requirements – These ensure everyone knows what's expected of them. Weber wanted business to have uniform standards, and rules are essential to achieve this goal.
• Impersonal – The rules and regulations make a business structure impersonal. Promotions aren't about emotions or personal ties, but rather performance.

        That is all for Bureaucratic Management Theory by Max Weber. The fifth theory to be discussed is:

5. ‘Y’ Theory of Management by Douglas

        American Social psychologist, Douglas Mcgregor invented this theory. This theory is invented for employees who are self-motivated and trained-well in/her suited work. this theory were often used in small business, that has lessen workers to cooperate with in the organizations. 

        That is all for 'Y' Theory of Management by Douglas Mcgregor. The last to be discussed is:

6. Contingency Approach of Management

        According to this approach no single idea or concept can yield the one best way of administration. Different ideas or concepts help in different situations. This also states that leadership effectiveness, as it relates to group effectiveness, is a component of two factors: task motivation, or relation motivation, and circumstances.

Those are all the theories and ideas of Management with Modern Management Practices.