Management Theory Taxonomy - Description of Theory

Running head: MANAGEMENT THEORY TAXONOMY

MANAGEMENT THEORY TAXONOMY

SHRANDA Y. CALDWELL

Grand Canyon University

MGT 301-Principles of Management

December 4, 2009

Management Theory Taxonomy

Management is one of the hottest topics in the economy to date. This project will describe 10 different management theories, their authors, and significances.

Theory Name Author of Theory Description of Theory

Theory X & Theory Y Douglas McGregor an American social psychologist. Theory X states that we, as human beings, dislike work and will try anything to avoid it at all cost and desire job security. We also have to be threatened by employers to work hard and don't like responsibility. Theory Y is just opposite, it depicts a human being working as simply as regular everyday life. This particular person would enjoy work and would need little or no supervision, and would seek responsibility and go out of their way to help the company.

Just-in-Time Philosophy Taiichi Ohno Japanese engineer for Toyota. Just-in-time philosophy (JIT) basically cuts waste by supplying parts only when the assembly line is in need of them. JIT requires precision, as the right parts must arrive "just in time" at the right position.

Human Capital Index Watson Wyatt Human Capital Index (HCI) is used to calculate the correlation of human capital and shareholder value. Which basically means the better a company does in managing its employees, then the better returns it has for the shareholders. Wyatt developed a set of measures quantifying exactly which HR practices and policies has the greatest relationship to shareholder value.

Management by Objective Peter Druker Management by Objective (MBO) defines the objective of each employee and then compares and directs the performance against the objectives that were set. It is designed to increase organizational performance throughout the organization.

12 Principles of Network Economy Kevin Kelly According to Kelly the new economy represents a tectonic disturbance in our commonwealth. There is a shift that reorders our lives more than hardware or software and has it own rules. Those who play by the rules will flourish and those that don't won't.

Profit Pools Method Orit Gadiesh & James L. Gilbert Profits Pools is the total profits earned at all points along the industry's value chain. It's a strategy that can be used to help managers or companies focus on profits, rather than revenue growth. The Profit Pools framework can be used to identify new sources of profit; rethink