MANAGEMENT THEORIES.....CNTNUD

CASON;
 He believes that the enterpreneuer have certain skills that makes him to smartly appraise problems and initiate solution that bring about dramatic and astonishing results. Shackle:introduced the concept of creative and imaginative thought.he believes that the enterpreneuer is creative and original. Max Weber:a german;he published his in 1958.It was based on protestant doctrines and ethics and in the
spirit of capitalism.He recognizes the fact that enterpreneuship encourages hardwork ,accumulation of capital and investment David MmCclellang: He is known for achievement theories and goal setting.quote from his book title “achieving society’,” “the drive towards achievement is the bases of the activity of the enterpreneuer. Evarret Hagen: Sees the enterpreneuer as a reactive problem solver with a strong will to do or achieve something remarkable before he die. QUALITIES AND

ABILITIES OF THE ENTERPRENEUER
 Common sense The ability to differentiate between real opportunities and dreams Self confidence The ability to plan and execute plans strong mindedly and willing to take full responsibity of all possible outcomes There are two LOCUS OF CONTROL in humans,Internal locus: believes he is the master of his own fate while the external locus is suppressed and ignited by the environment.He is externally motivated. Creativity and originality He should be creative and innovative in order to compete with establishing trends,challenges. Leadership He should have the authority and power to to influence others in order to mutually realize set target or targeted goals Decision The act of selecting the best course of action among alternatives.He should be naturally decisive and fast in exerting views and ideas.never wishy wshy and vacillitating. Sales and marketing skills He should have a sound communication system i.e through adverts,publicity,sales promotion etc in a clear,comprehensive and concise manner Human resource mgt skills Employees are the goose that lay the golden egg.They represent the enterpreneuers before his customers.They play an intermediary role in the enterprise hence they should be treated well,provided with adequate working incentives,well remunerated and taken care of to avoid involuntary behaviours that might rupture or drawback the companies goodwill.In the side of the enterpreneuer,seeing the height of sensitivity of the roles of the employee should take time and precaution to employ the best blend of them for every enterprise Self reliance and discipline Risk taking ability Risk is a situation where probabilities can be estimated objectively on the basis of actuarial calculations. Time management Time is rated into two Normal time:The time every one shares as given by nature [24hrs] Valuable time:What one is able to achieve with his normal time They should learn how to manage time,time for meetings,seminars and all that.They should have diaries,record books and delegate certain matters to certain persons at times.They should be in qeue. Financial know how They should how plan for,acquire,invest and reinvest cash.The best time to borrow,the best financial house,companies to acquire,the interest rate and other present and futuristic financial concerns. Business ethic Social responsibility Determination health