Modern Theory
Modern Theory-
“Management is an art of getting things done through people.”
The modern organizational theory is regarded as recent development in management theory. They represent integrative approach to management. There is no one best way of doing things under all conditions. Methods and techniques which are highly effective in one situation may not work in other situations. Situation plays an important role in application of management function. Functions are universal but their application is situational. Management takes a situational approach.
A) Quantitative approach:-
The quantitative management perspective emerged during World War II. During the war, the army (in the U.S and U.K) brought together managers, government officials and scientists to help it deploy its resources more efficiently and effectively. These experts used some of the mathematical approaches to management devised earlier by Taylor and Gantt to solve the logistical problems encountered by the army during the war. After the war, many organizations started applying the same techniques to solve business problems. The quantitative approach to management includes the application of statistics, optimization models, information models and computer simulations. More specifically, this approach focuses on achieving organizational effectiveness through the application of mathematical and statistical concepts. The three main branches of the quantitative approach are:
a) Management science- The management science approach emphasis the use of mathematical models and statistical methods for decision-making. It visualizes management as a logical entity, the action of which can be expressed in terms of mathematical symbols, relationships and measurement data. Another name commonly used for management science is operations research.
i) Operations research- Operational Research (OR) is the use of advanced analytical techniques to improve decision making. It is also known as Management Science
“Management is an art of getting things done through people.”
The modern organizational theory is regarded as recent development in management theory. They represent integrative approach to management. There is no one best way of doing things under all conditions. Methods and techniques which are highly effective in one situation may not work in other situations. Situation plays an important role in application of management function. Functions are universal but their application is situational. Management takes a situational approach.
A) Quantitative approach:-
The quantitative management perspective emerged during World War II. During the war, the army (in the U.S and U.K) brought together managers, government officials and scientists to help it deploy its resources more efficiently and effectively. These experts used some of the mathematical approaches to management devised earlier by Taylor and Gantt to solve the logistical problems encountered by the army during the war. After the war, many organizations started applying the same techniques to solve business problems. The quantitative approach to management includes the application of statistics, optimization models, information models and computer simulations. More specifically, this approach focuses on achieving organizational effectiveness through the application of mathematical and statistical concepts. The three main branches of the quantitative approach are:
a) Management science- The management science approach emphasis the use of mathematical models and statistical methods for decision-making. It visualizes management as a logical entity, the action of which can be expressed in terms of mathematical symbols, relationships and measurement data. Another name commonly used for management science is operations research.
i) Operations research- Operational Research (OR) is the use of advanced analytical techniques to improve decision making. It is also known as Management Science