Evolution of Managerial Role

Industrial Revolution

The Visible Hand

Early 20th Century Growth, Complexity, Change

Managerial Capitalism

Mid-Late 20th Century Challenges

Today and the Future

Industrial Revolution

18th beginning of Western Industry

Entrepreneurial Ventures

Owned by 1 person

Personal Capitalism

Second Industrial Revolution

The Visible Hand

Managers guiding businesses

'Invisible hand' is market forces

Beginnings of study of management

Henri Fayol

Importance of Engineers to plan, organize, command, co-ordinate, and control

Early 20th Century

Increasing presence of salaried managers

Changing forms of business

Managerial Capitalism

Multidivisional (M Form)

UK still H Form

Managerial Capitalism

Challenges during/after WW2

Focus on education for management

Diploma in Management

Education not really valued

Mid-Late 20th Century

Changes in business e.g. family business/holding companies challenged

Mergers/Acquisitions through 60/70's (M Form taking over)

1965 - Manchester/London Uni's Post Grad Management Degrees

Today and the Future

Management education vs Management Role

Business majorly owned by institutions

Financial Capitalism

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Content of the notes (1)