Some modern approaches also played a significant role in the evolution of management theories. These approaches can be classified as Quantitative School of Thought, the Systems Theory and the Contingency Theory. 1. Quantitative School of Thought: Quantitative school of thought emerged during the World War II. During the war, managers, government officials and the scientists were brought together to help [...]
In the context of various definitions of management and subsequent discussions, we can enumerate important characteristics and features of management as follows: Image Source: lemoyne.edu 1. Management is Organized Activities: Management is essentially a group effort. Unless groups are properly organized through proper coordination and control, management loses its essence. […]
The neo-classical approach is discussed as follows: Behavioural Theories: This school of management lays emphasis on the human element in an organization, duly recognizing its importance. It puts more stress on individual attitudes and behaviours and on group processes. Major contributors to this school of thought are in the following: […]