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Critical management studies (CMS) is a loose but extensive grouping of theoretically informed critiques of management, business and organisation, grounded originally in a critical theory perspective. Today it encompasses a wide range of perspectives that are critical of traditional theories of management and the business schools that generate ...
Theory X is based on negative assumptions regarding the typical worker. This management style assumes that the typical worker has little ambition, avoids responsibility, and is individual-goal oriented. In general, Theory X style managers believe their employees are less intelligent, lazier, and work solely for a sustainable income.
The Hersey–Blanchard situational theory: This theory is an extension of Blake and Mouton's Managerial Grid and Reddin's 3-D Management style theory. This model expanded the notion of relationship and task dimensions to leadership, and readiness dimension. 3. Contingency theory of decision-making
Fayolism was a theory of management that analyzed and synthesized the role of management in organizations, developed around 1900 by the French manager and management theorist Henri Fayol (1841–1925). It was through Fayol's work as a philosopher of administration that he contributed most widely to the theory and practice of organizational ...
Scientific management is a theory of management that analyzes and synthesizes workflows. Its main objective is improving economic efficiency , especially labor productivity . It was one of the earliest attempts to apply science to the engineering of processes in management.
The cover of The Peter Principle (1970 Pan Books edition). The Peter principle is a concept in management developed by Laurence J. Peter which observes that people in a hierarchy tend to rise to "a level of respective incompetence": employees are promoted based on their success in previous jobs until they reach a level at which they are no longer competent, as skills in one job do not ...
Alfred D. Chandler, Jr. - management, Pulitzer Prize for The Visible Hand: The Managerial Revolution in American Business (1977) Clayton M. Christensen; Alexander Hamilton Church - industrial management (1900s–1910s) C. West Churchman; Stewart Clegg; Ronald Coase - transaction costs, Coase theorem, theory of the firm (1950s) (Nobel Prize in 1991)
Below are examples of the applications of management science. In finance , management science is instrumental in portfolio optimization, risk management , and investment strategies. By employing mathematical models, analysts can assess market trends, optimize asset allocation, and mitigate financial risks , contributing to more informed and ...