PRESENTED BYABUBAKARROLL NO:23206CLASS : BBASUBJECT : PRINCIPAL OF MANAGEMENTThe purpose of this lecture is to demonstrate that knowledge of management past history can help youbetter understand current management theory and practice. Thus, in order to understand the theories andpractices used today, it’s important for management students to look at the evolution of managementthought and practices. The practice of management has always reflected historical times and societalconditions.IntroductionMany current management concepts and practices can be traced to early management theories. The practiceof management has always reflected the times and social conditions, so many organizations are respondingto technology breakthroughs and developing Web-based operations. These new business models reflecttoday’s reality: information can be shared and exchanged instantaneously anywhere on the planet. Thepurpose of this chapter is to demonstrate that knowledge of management history can help understandtoday’s management theory and practice.Management’s Connection to Other Fields of StudyManagement courses have a rich heritage from humanities and social science courses.A. Anthropology—the study of societies, which helps us learn about humans, their activities, anddifferences in fundamental values, attitudes, and behavior between people in different countries andwithin different organizations.B. Economics—concerned with the allocation, distribution of scare resources, and understanding thechanging economy, as well as the role of competition and free markets in a global context.C. Philosophy—examines the nature of things, particularly values and ethics.D. Political Science—studies the behavior of individuals and groups within a political environment,including structuring of conflict, allocating power in an economic system, and manipulating powerfor individual self-interest.E. Psychology—science that seeks to measure, explain, and sometimes change the behavior ofhumans and other animals.F. Sociology—the study of people in relation to their fellow human beings.Historical Background Of ManagementThere are many examples from past history that illustrates how management has been practiced forthousands of years