British Management Theory and Practice the Impact of Fayol

British management theory and practice: the impact of Fayol, Management Decision, Vol. 43 Iss: 10 pp. 1317 – 1334 This paper re-examines the impact of Fayol’s work on theory and practice of management in Britain, first, in the interwar period and second, in the post-war period of 1945 to the late 1960s. Lyndall Urwick, a respected British management thinker and writer described Fayol as â€Å"the most distinguished figure which Europe contributed to the management movement up to the end of the first half of the present century†(Smith I, Boyns T, 2005) in Urwick’s publishes and translated speeches. Urwick supported Fayol’s general principles of management ensuring an influence on post-war British management theories known as the neoclassical school during the 1950s. Fayol’s principles took place among theories within scientific management bundle which offered an intelligent inputs coupled to a genuine belief in industrial efficiency. Further research into British management practice during that era, Fayol’s influence proved problematic due to the emphasis of British management on pragmatism and narrow focus on control which allowed little, if any, accommodation for Fayol’s model. Twenty years or so after Second World War, Fayol’s impact, especially after Urwick’s intervention, was on management theory however not management practice. Since 1970, the focus of management thinking had turned away from the functions of management towards to understanding management and managing through an examination of what managers do. This article concludes whether Henri Fayol’s contribution is relevant today. This suggests that the history academics realized his work had significantly contributed to the study in management today, and Fayol’s ideas continued to be more influential in the realm of theory than practice in Britain.

Analysis of Accounts Case Study Example | Topics and Well Written Essays - 2000 words

Analysis of Accounts - Case Study Example This report presents an analysis of Margate plc’s financial performance in the past five years while comparing it with industry peer, Herne Bay Ltd. In addition to this, the report also presents an analysis of cash flows of the company during the past 2 years and at the same time states how financial ratio analysis may not be effective enough for presenting an accurate and useful financial analysis for analysts and investors. At the end of the report, conclusion and recommendations are presented for High Deen plc as far as investment in Margate plc is concerned. Financial Ratio Analysis Based on the information provided in relation to the financial performance of Margate plc in 2012 and 2011, following is an analysis of it performance through selected financial ratios. The financial ratios presented below also take into consideration the ratios determined for the company for the financial years 2010, 2009 and 2008. In addition to this, for conducting a comparative analysis of the company with its competitor, ratios for Herne Bay Ltd have also been determined for the years 2012 and 2011. Return on Capital Employed The return on capital employed for Margate plc increased in 2011 due to significant increase in the revenues but then in 2012 with a decline in revenue, the ratio declined. On the other hand, one other reason for this decline is increase in the total capital employed by the company, which ultimately reduced this ratio. However, while comparing Margate plc’s return on capital employed with the Herne Bay Ltd’s ROCE, it can be observed that the company has almost maintained its position in relation to its competitor (Peterson & Fabozzi, 2012; Jiambalvo, 2010; Helfert, 2001). Ratio Margate plc Herne Bay Ltd