Theoretical Management and Its Modern Day Applicability

The ability and means by which an organisation is run, requires for strong managerial expertise and leadership. The ability to realistically plan, organise resources effectively and efficiently, co-ordinate and control resources in this every changing, complex, dynamic environment is at the forefront of quality managerial practices. Good management has demonstrated itself more important than ever, with the peak Global Financial crisis in 2008/2009 proving that the historical theory’s and innovations in managerial practices are absolutely paramount to thriving economic prosperity. It is through the functions, approaches included in the literature of Henri Fayol’s 1949 English translated General and Industrial Management, Henry Mintzberg’s studies into managerial roles and German sociologist and economist Max Weber’s concept of bureaucracy that acknowledge and promote guidelines, expectations and accountability from managers. The extent, to which modern day management upholds and applies all three of these historical studies/ theories into modern management practices will be basis for coherent, strong, fully functioning and ultimately successful leadership. Although contextually theses theorists devised their work at different times in history, the underlying concepts are universal and valid. These theories foundations are undoubtedly necessary and are clearly applicable to contemporary modern day management.
As noted by modern day academia (Schermerhorn et al 2011, p.103):
“In this new and very challenging environment.., no one should sell history short. Knowledge gained through past experience can and should be used as a foundation for future success”.
The management theories of Fayol, Mintzberg and Weber are still relevant and important to modern day managers, as they are a basis for