GMS 200 Lecture 5: Lecture 5 GMS Notes

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Emad Samwel

Document Summary

Managers are not innovative; not making the best use of existing technologies to produce high- quality goods at competitive prices; They are not recruiting and retaining the most talented workers; They are not making the best use of the limited financial resources at their disposal. Perhaps these failures could be avoided if managers have a better grasp of past and current ideas on how best to manage people, money and technology. Management has been going on for a very long time as early as: 5000 bc: the magnificent pyramids in egypt reflect exceptional organizational and administrative skills. 3000 bc: sumerian priests maintained written records business transactions and management practices in the city of ur, babylon (now iraq). The organizational and administrative skills of the early egyptians were impressive; So too were the record keeping skills of the sumerian priests. Punch line: the development of management of theories was partly driven by the demand for well- trained, professional managers.