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Modern Theories of Management

It talks about Management in the different perspective in a way which is new and fresh to people.
by

Jeff Diel

on 7 October 2014

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Transcript of Modern Theories of Management

What is Modern Management Theory?
Modern management theory refers to emphasizing the use of systematic mathematical techniques in the system with analyzing and understanding the inter-relationship of management and workers in all aspect.

Modern management theories started after 1950s.

Modern view consists that a worker does not work for only money. They work for their satisfaction and happiness with good living style.
Three Streams:
Quantitative Approach

System Approach

Contingency Approach
Quantitative Approach

It emphasizes the use of statistical model and systematic mathematical techniques to solving complex management problems.

Management can easily calculate the risk and benefit of various actions.

Major Contributors: Johan MacDonald, George R. Terry, Andrew Szilagyi

System Approach
Herbert A. Simon is the father of system theory.

A System is defined as a set of regularly interacting or inter - dependent components that create as a whole unit.

Major Contributors: Daniel Katz, Robert L. Khan, Richard A. Johnson.

Characteristics of system approach:
A system must have some specific components, units or sub units.

A Change in one system affects the other subsystems.

Every system is influenced by super system.

All systems along their subsystem must have some common objectives.

A system is a goal-oriented.

A system cannot survive in isolation.

Contingency Approach
This approach accepts the dynamics and complexities of the organization structure.

This approach argues that there is no one universally applicable set of rules by which to manage organization.

Major contributors: G.M. Stalker, Joan Woodward, Tom Burns, Paul R. Lawrence, L.W. Lorsch.
Summary...
Modern management theory depends upon System approach and Contingency approach. Management is influenced by Internal and external environment. Appropriate techniques are determined by situation and Environmental factors of an organization.
Conclusion
Thus the conclusion is that there cannot be any fixed universal principles of management and organizations.
MODERN MANAGEMENT THEORY
Modern Theories of Management
By: Jeff Diel
Sealana

QUANTITATIVE APPROACH
SYSTEM APPROACH
CONTINGENCY APPROACH
Full transcript