Introduction To Financial Management

Organization: The Office of Financial Management is lead by a Director who reports to the Deputy Assistant Secretary for Price range, Finance, Efficiency and Acquisition who reports to the Principal Deputy Assistant Secretary for Policy, Management and Spending budget who...<br /><a class="read-more-button" href="http://mkbk.info/introduction-to-financial-management.html">Read more</a>

Financial ManagementOrganization: The Office of Financial Management is lead by a Director who reports to the Deputy Assistant Secretary for Price range, Finance, Efficiency and Acquisition who reports to the Principal Deputy Assistant Secretary for Policy, Management and Spending budget who reports to the Assistant Secretary for Policy, Management and Budget who reports to the Deputy Secretary of the Interior who reports to the Secretary of the Interior. It is rightly pointed out that F. W. Taylor in his contribution to management thought suggested rationalizing work for higher labour productivity although Elton Mayo recommended/ advocated humanism perform for enhanced efficiency and personal satisfaction.

Ensures smooth functioning: Management guarantees smooth, orderly and continues functioning of an enterprise more than a extended period. It is an additional extreme as compared to classical theory where employees were neglected considerably. The systems method suggests that the total efficiency of the organisation will be powerful only when the distinct systems/units/activities are coordinated and integrated in an efficient manner.

Management in one type or the other has been a important function of financial life of mankind throughout ages. The importance of management is not fully realised in a lot of developing nations. Mayo created his Human Relations Theory of Management on his Hawthorne experiments.

This suggests that management is a important element in the functioning of business enterprises. In addition, the attitudes of workers and their relations with each other and with the management would play a part in forming their attitudes towards the total function circumstance.

The systems theory considers organisation as an open, adaptive method which has to adjust adjustments in its environment. He rightly suggested the value of democratic leadership and participative management style for running business activities effectively.