Theoretical approach to principles of management: Literature review

Abstract

In the modern era, management is a term that is often used, and it is often identified with other similar terms, but of a different meaning, such as some kind of managing or controlling. One of the oldest definitions of management says that management is the realization of certain goals through other people, work and systems, in order to achieve set goals. Management is the whole science and the skill of managing people. The main focus is on people, i.e. human resources, which are very important, as all other resources depend on them. People who deal with management are called managers. At all Western universities, the science of management takes a prominent place because it prepares personnel for managerial functions. These people are experts in management, who are engaged in the organization to carry out this function and who are responsible for the results of the organization's operations, as well as for its development and growth. They, like other employees in the organization, receive the appropriate reward, i.e. earnings for their work. In his capital work, Henry Fayol emphasizes the need to define principles which should enable the implementation of the basic concept and defines 14 management principles.