Management as a Science can be traced back to the 20th century when it’s initial focus was increasing productivity and efficiency through standardisation, division of labour, centralisation and hierarchy.
The growth of more complex organisations paved the way for functional organisations and the Human Resource (HR) movement during the mid 20th century.
The end of the 20th century starting from the 1970s witnessed transformation into Strategic Planning i.e resource allocation and tools like Strategic Planning (GE), Growth Share Matrix (BCG) and SWOT analysis were used to formalise strategic planning processes. As the business environment grew increasingly competitive and connected, and with a blooming management consultancy industry, Competitive Advantage became a priority for organisations in the 1980’s. Tools like Total Quality Management (TQM), Six Sigma and Lean were used to measure processes and improve productivity. Employees were more involved by collecting data, but decisions were still made at the top, and goals were used to manage people and maintain control.
Benchmarking and business process reengineering became popular in the 1990’s. TQM, Six Sigma and Lean remained popular and a more holistic, organisation-wide approach and strategy implementation took the stage with tools such as Strategy Maps and Balanced Scorecards.
The Present and Future
Numerous theorists developed the behavioural approach of management thought as they observed weaknesses in the assumptions of the classical approach. The classical approach emphasized efficiency, process, and principles.
Some management scholars considered that this thought ignored important aspects of organizational life, particularly as it related to human behaviour. Therefore the behavioural approach concentrated on the understanding of the factors that affect human behaviour at work.
Largely driven by the consulting industry under the banner of Big Data, organisations in the 2000’s started to focus on using technology for growth and value creation.
Managers began to come to terms with the 21st-century issues when they realized that most professionals had access to computers and telephones and that both of these systems use networks to connect people who are often significantly removed from each other in time, space, thought and emotion.
Decision-making is done in a sub-optimal manner, because of practical and situational constraints on human rationality of decision-making. The behaviourists attach great weightage on participative and group decision-making.
Behavioural Scientists promote self-direction and control instead of imposed control.
Presently, the questions asked by every organisation leads us to the purpose of their existence. If organizations existed in the execution era to create scale and in the expertise era to provide advanced services, today many are looking to organizations to create worthwhile and meaningful experiences. This could be referred to as the era of empathy.
This quest for empathy extends to not only customers but also has an impact on the nature of the employment contract, and the value proposition for new employees.
Business management degree will prepare you to manage employees of your own, and help you understand and adopt a collaborative/command leadership approach to motivate employees while maintaining their trust. This style of leadership is what the future holds for itself wherein there is a need to be hierarchical but also needs to be flexible.Collaboration shows employees you’re open to exchanging input, while the command side of the coin reminds them you can handle business on your own. Additionally, Continuing Digitization of the Business World wherein domestic and international business processes are becoming more digitally-reliant by the day has gained huge momentum in the changing dynamics of business management.
Kingston University BSc Business Management Programme at ISBF
The Business Management BSc (Hons) programme offers students the best of both worlds. Some of the unique features of the programme include:
Students undertake the first 2 years of this degree in India at ISBF. After a successful completion of these 2 years, all students go to Kingston University, London to complete their 3rd year.
The programme curriculum and the degree awarded are validated by Kingston University.
The entire batch is transferred to Kingston University after 2nd year and students are exempt from appearing for IELTS.
The programme is also offered as a four-year version which allows students to do a work placement in the UK or India in their last year, giving them the opportunity to smoothly adapt into the working culture.
The UK government recently announced a two-year post-study work visa for all international students will allow graduates of this programme to work in any career or position of their choice for two years after completing their studies in the UK. Thus students enjoy the same work and visa-related benefits as international students who completed all three years in the UK, but at less than half the cost.
Why opt for a Kingston Business School degree?
Kingston University is awarded a Business Accreditation by the Association to Advance Collegiate Schools of Business (AACSB), given to a mere 5% of business schools in the world
It is one of the top 100 institutions in Europe for Business and Management (QS 2017)
Ranked among top 50 UK institutions by The Guardian University Guide 2020
Awarded with numerous other international accreditations, including EFMD Programme Accreditation System (EPAS) and the Association of MBAs (AMBA).