Question

Explain Management thought designed by Max Weber and Fayol in the current contract. What is thid assignment answer?

Answer 1

proportion of start-up businesses have to close due to "lack of funding, bad business decisions, an economic crisis, lack of market demand—or a combination of all of these. A broader definition of the term is sometimes used, especially in the field of economics. In this usage, an Entrepreneur is an entity which has the ability to find and act upon opportunities to translate inventions or technology into new products: "The entrepreneur is able to recognize the commercial potential of the invention and organize the capital, talent, and other resources that turn an invention into a commercially viable innovation." In this sense, the term "Entrepreneurship" also captures innovative activities on the part of established firms, in addition to similar activities on the part of new businesses.

Answer 2

"According to Henry Fayol, Father of the modern management, ""Management is to forecast, to plan, to organize, to command, to coordinate and control activities of others.""

And according to Weber's theory of bureaucratic management , it has two essential elements. First, it entails structuring an organization into a hierarchy.

Secondly, the organization and its members are governed by clearly defined rational-legal decision-making rules.

"