Problem: Develop your Career Potential

Know Where Management Is Going As you read in the chapter, management theories are dynamic. In other words, they change over time, sometimes very rapidly. In addition, management theories have often been cumulative, meaning that later theorists tend to build on theories previously advanced by other scholars. Thus, a new theory becomes the starting point for yet another theory that can either refi ne or refute the management thinking of the day. One way to prepare for your career as a manager is by becoming aware of management trends today. The best (and easiest) way to do that is by regularly combing through business newspapers and periodicals. You will always fi nd at least one article that relates to management concepts, and as you scan the business press over time, you will see which theories are influencing current management thinking the most. By understanding management history and management today, you will be better able to anticipate changes to management ideas in the future. This exercise is designed to introduce you to the business press and to help you make the connection between the concepts you learn in the classroom and real-world management activities. Done regularly, it will provide you with invaluable insights into business activities at all types of organizations around the world.

Activities

1. Find a current article of substance in the business press (for example, the Wall Street Journal, the Financial Times, Fortune, BusinessWeek, Inc.) that discusses topics covered in this course. Although this is only Chapter 2, you will be surprised by the amount of terminology you have already learned. If you are having trouble finding an article, read through the table of contents on pages v-viii to familiarize yourself with the names of concepts that will be presented later in the term. Read your article carefully, making notes about relevant content.

2. Write a one-paragraph summary of the key points in your article. List the terms or concepts critical to understanding the article, and provide definitions of those terms. If you are unfamiliar with a term or concept that is central to the article, do some research in your textbook or see your professor during office hours. Relate these key points to the concepts in your text by citing page numbers.

3. How does your article relate to the management theories covered in this chapter? Explain the situation detailed in your article in terms of the history of management.