Management Philosophy

Management's principal characteristic is the directing and leading towards the achievement of predetermined objectives. An organization runs and works based on defined specific objectives, and the role of management to direct efforts and resources towards the achievement of these objectives. Over the decades, different management approaches and strategies formulation entail in an attempt to find the most suitable approach that can effectively and sustainably direct towards achievement of organizational strategies. This report makes a summary of management philosophies and approaches proposed by different scholars. The work identifies the different opinions on management and the theories proposed on management thought.

Of interest is the article by Kralev (2011) that identifies the importance of the Management by Objectives approach. The scholar proposes this management thought for it defines and uses organizational objectives in directing processes and functions in an organization. Kralev (2011) identifies that in today's business world a manager...
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