IMPORTANCE OF THE STUDY OF MANAGEMENT TODAY

Like any other business, hospitals are also a conglomeration of processes with all the ailments that the processes have. The health report card of any clinic will have to focus on the various symptoms that the hospital exhibits and then take a call on what is the disease profile and then prescribe the various age old panacea from the other industries like optimal queuing models, inventory policies like Just In Time (JIT), Six Sigma, Total Productive Maintenance (TPM), demand forecasting models etc.

- Rajesh Nair Associate Partner, Ernst & Young LLP

The subject of manage-ment has evolved through the years to be one of the most sought after as well as craved for academic area. The science or art debate has been one of the prolific debates that provide the fecundity and normative logic characteristic only to the subject. The root of the foundation may not be as fertile a topic as its diverse branching. The interpretations of the subject have itself been the prerogative of the individual himself. Cultural vagrancy, ethical structure, flora and fauna have all its impact on the way the subject is manifested. As they cliché goes “It’s never Black and White but a shady Grey”. Then why the clamor, the hype and the attention? The answer itself comes from one of management’s premier gurus, Peter Drucker “Never was a subject so full of common sense”.