Abstract

Corporate management deals with problems of management and managerial efficiency in various countries. In exploring management theory to determine what tools and techniques can be utilized in this comparative area, it becomes clear that existing management theory has some serious drawbacks in terms of its orientation and applicability to different types of cultures and economies. Traditional management theory usually deals with productive enterprises operating in a single environment. Management has been defined in one major work as the accomplishment of desired objectives by establishing an environment favorable to performance by people operating in organized groups. In this approach, the managerial functions of planning, staffing, direction, organizing, and control within the firm are analyzed. The firm attempts to operate as efficiently as possible in its environment, in the sense of trying to achieve its goals with the minimum use of resources.