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MANAGEMENT BY OBJECTIVES
Management by Objectives concept was developed during 1960s. Initially, MBO was developed, in the main, by J. Humble of Urwick Orr and Partners who called planning by objective setting on a total organisation and individual basis as ' Management By Objectives'. Although it was applied for the purpose of assessing managerial performance, it made a great impact on planning. Later on, George S. Odiorne, Tosi and Carroll, Harry Levinson, etc. also laid emphasis on MBO. However, Peter F. Drucker has the credit for popularizing this concept widely. MBO is also known as 'goal management' or 'management by results'.
Tithi Gupta
PRINCIPLES OF MANAGEMENT
Management is an integral part of human and social life. The problems and complexities of management induced many scholars, technocrates and other thinkers to evolve appropriate means for managing business and industrial activities. Here, we discuss in brief the contributions of F.W. Taylor and Henry Fayol. It is evident that Taylor and Fayol were the pioneers of management. Both contributed significantly to the development of modern management thought. Thus, contributions of Taylor and Fayol were not contradictory in nature but complementary to each other. They were the two sides of the same coin.