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Situation 5 Management Situation 5 Management Situation 5 Management ? Objectives Mainly grasp the following contents according to this situation: 1. the development of management thought 2. the four functions of management 3. areas of management 4. managerial skills 5. management system Task 1 The Development of Management Thought ? Objectives 1. Grasp the history of management thought. 2. Know some contents of contemporary management development. Task 1 The Development of Management Thought I Pre-reading Pair work: Discuss the following questions with your partner. 1. What is management? 2. What is the purpose of management? 3. Where do you suppose to find management? 4. What are the major functions of management? 5. Do you know contemporary management theories? What are they? Task 1 The Development of Management Thought II Case study of the task Management Thought Development of Prescientific Era At the end of the Dark Ages when commerce began to grow in the Mediterranean. The technique of double entry bookkeeping was first described by Pacioli in 1494. In 1776, Adam Smith wrote The Wealth of Nations in which he developed important economic concepts. He emphasized he importance of division of labor, with its three chief advantages. In the early stages of the Industrial Revolution, owners of factories directed production but generally did not distinguish between their ownership functions and their management duties. Task 1 The Development of Management Thought In the early nineteenth century, the need for larger aggregations of capital to support factory operations resulted in increased applications of a special legal form of organizing a business. By 1832, scientists and other persons were not directly related to ownership of manufacturing firms began to consider improvements on management. By the end of the nineteenth century, the stage was set for a group of people to take management problems in a systematic
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