This article throws light upon the top twelve theories of management thought developed by famous management thinkers. Some of the theories are: 1. Theory of Peter F. Drucker 2. Theory of Michael Porter 3. Theory of Tom Peters 4. Theory of Michael Hammer 5. Theory of Peter Senge 6. Theory of C.K. Prahlad 7. Theory of Mary Parker Follett 8. [...]
This article throws light upon the 7S model developed by McKinsey for understanding the framework of management. The seven S are: 1. Strategy 2. Structure 3. Systems 4. Style 5. Staff 6. Skills 7. Shared Values. 1. Strategy: Strategy making is an important variable that affects managerial excellence. Strategy means determination of objectives and allocation of resources to achieve these [...]
After reading this article you will learn about:- 1. Meaning of Planning Premises 2. Process of Planning Premises 3. Types. Meaning of Planning Premises: The process of planning is based upon estimates of future. Though past guides the plans in present, plans are made to achieve the goals in future. Therefore, forecast of future events leads to efficient plans. Since [...]