Everyone in a position of responsibilities needs management skills. For example the top jobs in manufacturing, education and healthcare will include managerial responsibilities. A management major is an essential component for all those who wish to participate and succeed in the business or organisational world. .
Entrepreneurship .
Quoted by the legendary entrepreneur Richard Branson. "I could go live on an island. The challenge of learning and trying to do some thing better than in the past is irresistible". .
In defining the entrepreneur, many researchers now emphasise the ability to recognise and exploit an opportunity through the application of resources. An entrepreneur may be described as a person who can recognise an opportunity in the market place, and is willing to marshall the resources necessary to exploit that opportunity for long-term personal gain. In the entrepreneurial role the manager initiates change within the organisation. They see opportunities or problems and create projects to deal with them. Managers tend to play this role when they introduce a new product or create a major change programme, as Bob Horton did at BP when he became a chief executive. .
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What relevance can theories about management have for the practising manager?.
There are many theories that can be used by the practising manger in which they can assist managers through their job. Such theories that might be relevant are as follows: .
There are many theories that attempt to explain employee motivation. Content theory are generally concerned with individual needs. This type of theory seeks to identify specific needs that energise a person's behaviour. The sources of motivation are the acts to fulfil needs. .
In 1954, Abraham H. Maslow wrote "Motivation and Personality" a study that became the foundation for the content theories of motivation. As Maslow put it "my effort was synthesis the hostilic the dynamic and the cultural emphasis which excited so many young psychologists of the times I felt that they were related to each other in that they were sub-aspects of a single, larger encompassing whole".