After reading this article you will learn about:- 1. Features of Contingency Theory 2. Evaluation of Contingency Theory 3. Limitations. Features of Contingency Theory: 1. Management is situational in nature. The technique of management depends on complexity of the situation. 2. It is the 'if and 'then 'approach to management, 'If' represents the independent variable and 'then' represents the dependent [...]
This article throws light upon the six main components of a system. The components are: 1. Sub-System 2. Synergy 3. Open and Closed Systems 4. System Boundary 5. Flow 6. Feedback. Component # 1. Sub-System: Each part of the bigger whole is a sub-system. These parts make the whole organisation. Each sub-system is part of the larger system which, in [...]
After reading this article you will learn about:- 1. Branches of Quantitative Management 2. Evaluation of Quantitative Management 3. Limitations. Branches of Quantitative Management: The branches of quantitative management are: (a) Management Science, (b) Operations Management, and (c) Management Information Systems. (a) Management Science: "Management science is an approach that aims at increasing decision effectiveness through the use of sophisticated [...]