This article throws light upon the top five principles of scientific management theory suggested by Taylor. The principles are: 1. Rule of Thumb should be Replaced with Science 2. There should be Harmony, not Discord in Group Action 3. Cooperation, not Individualism 4. Maximum Output, not Restricted Output5. Development of Workers to their Fullest Capacity. Principle # 1. Rule of [...]
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 top twelve theories of management thought developed by famous management thinkers. Some of the theories are: 1. Theory of Peter F. Drucker 2. Theory of Michael Porter 3. Theory of Tom Peters 4. Theory of Michael Hammer 5. Theory of Peter Senge 6. Theory of C.K. Prahlad 7. Theory of Mary Parker Follett 8. [...]