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The Modern Management Science is based on Modern Management Theory having Quantitative, System and Contingency Approaches to Management!
After, 1960 management thought has been turning somewhat away from the extreme human relations ideas particularly regarding the direct relation between morale and productivity. Present management thinking wishes equal emphasis on man and machine.
The modern business ideologists have recognized the social responsibilities of business activities and thinking on similar lines. During the period, the principles of management reached a stage of refinement and perfection. The formation of big companies resulted in the separation of ownership and management.
This change in ownership pattern inevitably brought in ‘salaried and professional managers’ in place of ‘owner managers’. The giving of control to the hired management resulted in the wider use of scientific methods of management. But at the same time the professional management has become socially responsible to various sections of society such as customers, shareholders, suppliers, employees, trade unions and other Government agencies
Modern management theory in principle of management, Quantitative Introduction of management, Scientific management(Taylor law). this blog guide the A System is defined as a set of regularly interacting
Management science (MS), is the broad interdisciplinary study of problem solving and decision making in human organizations, with strong links to economics, business, engineering, and other sciences. It uses various scientific research-based principles, strategies, and analytical methods including mathematical modeling, statistics and numerical algorithms to improve an organization's ability to enact rational and meaningful management decisions by arriving at optimal or near optimal solutions to complex decision problems. In short, management sciences help businesses to achieve goals using various scientific methods
The field was initially an outgrowth of applied mathematics, where early challenges were problems relating to the optimization of systems which could be modeled linearly, i.e., determining the maxima (of profit, assembly line performance, crop yield, bandwidth, etc.) or minima (of loss, risk, costs, etc.) of some objective function. Today, management science encompasses any organizational activity for which the problem can be structured as a functional system so as to obtain a solution set with identifiable characteristics
Acknowledge the answer given by Mr. Khalid Gaffar. Thank you
Modern management style is based on the management and direction of human resources and physical and organized into structures or structures dynamically to achieve common goals and results will satisfy the beneficiaries of achievement and provide for their workers feeling happily performing perfectly. It is thus better employment of human and material resources to achieve the best production of goods and services and as a sort Portal addresses the science of management in several operations Amadunha Klam longer are the basic themes are:
Planning: any predict the future and preparing for it.• Regulation: any linking activities of the Department and its units structure harmonious productive.• Employment: the selection and preparation of user training and the development of controls and the groundwork for that.• Leadership: no route, manage and control the behavior and activity of workers.• Coordination: any order business, identify and reconcile.• Documentation: Name any administration memory and continuity in time.• Financial Management: no funding activity and rationalization of expenditure and secure returns
It is based on the importance of giving the biggest teams in the success of administrative work
What is modern management science and how useful is this concept for modern business?
Just keep it simple, for HR the introduction of Integrated System Enterprise were introduced to link and cover all HR issues contained in one source of data, SAP HR is good example for this to support the "modern" business with reports and analytics.
Modern cities in that time in Old Babylon had clay tablets, and Luxor in Egypt had papyrus with an administration with skilled staff of the pharaoh to control and monitor the trade results of the country (in quality and quality and profitability, even the water level was measured in the country)..
so what is "modern business science" ... for me trade is as old as mankind> in the old days it was processed on a different way but without insight the king or ruler could not campaign and take care for his people.
I think these civilizations were more sophisticated and modern for their way then we are currently demonstrating,
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I fully agree with the answers been added by EXPERTS............Thanks.
Accept my thanks for the invitation and I agree with the answer, Mr. Fellows
Modern Management Theory: Quantitative, System and Contingency Approaches to Management!
The Modern Period (1960 to present). After, 1960 management thought has been turning somewhat away from the extreme human relations ideas particularly regarding the direct relation between morale and productivity. Present management thinking wishes equal emphasis on man and machine.
The modern business ideologists have recognized the social responsibilities of business activities and thinking on similar lines. During the period, the principles of management reached a stage of refinement and perfection. The formation of big companies resulted in the separation of ownership and management.
This change in ownership pattern inevitably brought in ‘salaried and professional managers’ in place of ‘owner managers’. The giving of control to the hired management resulted in the wider use of scientific methods of management. But at the same time the professional management has become socially responsible to various sections of society such as customers, shareholders, suppliers, employees, trade unions and other Government agencies.
Under modern management thought three streams of thinking have beers noticed since 1960:
(i) Quantitative or Mathematical Approach
(ii) Systems Approach.
(iii) Contingency Approach.
Mathematics has made inroads into all disciplines. It has been universally recognised as an important tool of analysis and a language for precise expression of concept and relationship.
Evolving from the Decision Theory School, the Mathematical School gives a quantitative basis for decision-making and considers management as a system of mathematical models and processes. This school is also sometimes called, ‘ Operations Research” or “Management Science School’. The main feature of this school is the use of mixed teams of scientists from several disciplines. It uses scientific techniques for providing quantitative base for managerial decisions. The exponents of this school view management as a system of logical process.
It can be expressed in terms of mathematical symbols and relationships or models. Different mathematical and quantitative techniques or tools, such as linear programming, simulation and queuing, are being increasingly used in almost all the areas of management for studying a wide range of problems.
The exponents of this school believe that all the phases of management can be expressed in quantitative terms for analysis. However, it is to be noted that mathematical models do help in the systematic analysis of problems, but models are no substitute for sound judgement.
Moreover, mathematics quantitative techniques provide tools for analysis but they cannot be treated an independent system of management thought. A lot of mathematics is used in the field of physical sciences and engineering but mathematics has never been considered as separate school even in these fields.
The contributions of mathematicians in the field of management are significant. This has contributed impressively in developing orderly thinking amongst managers. It has given exactness to the management discipline. Its contributions and usefulness could hardly be over-emphasized. However, it can only be treated as a tool in managerial practice.
There is no doubt that this approach helps in defining and solving complex problems resulting in orderly thinking. But the critics of this approach regard it as too narrow since it is concerned merely with the development of mathematical models and solutions for certain managerial problems.
This approach suffers from the following drawbacks:
(i) This approach does not give any weight age to human element which plays a dominant role in all organisations.
(ii) In actual life executives have to take decisions quickly without waiting for full information to develop models.
(iii) The various mathematical tools help in decision making. But decision making is one part of managerial activities. Management has many other functions than decision-making.
(iv) This approach supposes that all variables to decision-making are measurable and inter-dependent. This assumption is not realistic.
(v) Sometimes, the information available in the business for developing mathematical models are not upto date and may lead to wrong decision-making.
Harold Knootz. Also observes that “it is too hard to see mathematics as a separate approach to management theory. Mathematics is a tool rather than a school.”
In the 1960, an approach to management appeared which tried to unify the prior schools of thought. This approach is commonly known as ‘Systems Approach’. Its early contributors include Ludwing Von Bertalanffy, Lawrence J. Henderson, W.G. Scott, Deniel Katz, Robert L. Kahn, W. Buckley and J.D. Thompson.
They viewed organization as an organic and open system, which is composed of interacting and interdependent parts, called subsystems. The system approach is to look upon management as a system or as “an organised whole” made up of subsystems integrated into a unity or orderly totality.
System approach is based on the generalization that everything is inter-related and inter-dependent. A system is composed of related and dependent element which, when in interaction, forms a unitary whole. A system is simply an assemblage or combination of things or parts forming a complex whole.
One of its most important characteristic is that it is composed of hierarchy of sub-systems. That is the parts forming the major systems and so on. For example, the world can be considered to be a system in which various national economies are sub-systems.
In turn, each national economy is composed of its various industries, each industry is composed of firms; and of course, a firm can be considered a system composed of sub-systems such as production, marketing, finance, accounting and so on.
The basic features of systems approach are as under:
(i) A system consists of interacting elements. It is set of inter related and interdependent parts arranged in a manner that produces a unified whole.
(ii) The various sub-systems should be studied in their inter- relationships rather, than in isolation from each other.
(iii) An organisational system has a boundary that determines which parts are internal and which are external.
(iv) A system does not exist in a vaccum. It receives information, material and energy from other systems as inputs. These inputs undergo a transformation process within the system and leave the system as output to other systems.
(v) An organisation is a dynamic system as it is responsive to its environment. It is vulnerable to change in its environment.
In the systems approach, attention is paid towards the overall effectiveness of the system rather than the effectiveness of the sub-systems. The interdependence of the sub-systems is taken into account. The idea of systems can be applied at an organizational level. In applying system concepts, organizations are taken into account and not only the objectives and performances of different departments (subsystems).
The systems approach is considered both general and specialized systems. The general systems approach to management is mainly concerned with formal organizations and the concepts are relating to technique of sociology, psychology and philosophy. The specific management system includes the analysis of organisational structure, information, planning and control mechanism and job design, etc.
As discussed earlier, system approach has immense possibilities, “A system view point may provide the impetus to unify management theory. By definitions, it could treat the various approaches such as the process of quantitative and behavioural ones as sub-systems in an overall theory of management. Thus, the systems approach may succeed where the process approach has failed to lead management out of the theory of jungle. ”
Systems theory is useful to management because it aims at achieving the objectives and it views organization as an open system. Chester Barnard was the first person to utilise the systems approach in the field of management.
He feels that the executive must steer through by keeping a balance between conflicting forces and events. A high order of responsible leadership makes the executives effective. H. Simon viewed organization as a complex system of decision making process.
The systems approach assists in studying the functions of complex organisations and has been utilised as the base for the new kinds of organisations like project management organisation. It is possible to bring out the inter-relations in various functions like planning, organising, directing and controlling. This approach has an edge over the other approaches because it is very close to reality.
This approach is called abstract and vague. It cannot be easily applied to large and complex organisations. Moreover, it does not provide any tool and technique for managers.
The contingency approach is the latest approach to the existing management approaches. During the 1970’s, contingency theory was developed by J.W. Lorsch and P.R. Lawrence, who were critical of other approaches presupposing one best way to manage. Management problems are different under different situations and require to be tackled as per the demand of the situation.
One best way of doing may be useful for repetitive things but not for managerial problems. The contingency theory aims at integrating theory with practice in systems framework. The behaviour of an organisation is said to be contingent on forces of environment. “Hence, a contingency approach is an approach, where behaviour of one sub-unit is dependent on its environment and relationship to other units or sub-units that have some control over the sequences desired by that sub- unit.”
Thus behaviour within an organisation is contingent on environment, and if a manager wants to change the behaviour of any part of the organization, he must try to change the situation influencing it. Tosi and Hammer tell that organization system is not a matter of managerial choice, but contingent upon its external environment.
Contingency approach is an improvement over the systems approach. The interactions between the sub-systems of an organisation have long been recognised by the systems approach. Contingency approach also recognises that organisational system is the product of the interaction of the sub systems and the environment. Besides, it seeks to identify exact nature of inter-actions and inter-relationships.
This approach calls for an identification of the internal and external variables that critically influence managerial revolution and organisational performance. According to this, internal and external environment of the organisation is made up of the organisational sub-systems. Thus, the contingency approach provides a pragmatic method of analysing organisational sub-systems and tries to integrate these with the environment.
Contingency views are ultimately directed towards suggesting organisational designs situations. Therefore, this approach is also called situational approach. This approach helps us to evolve practical answers to the problems remanding solutions.
Kast and Rosenzweig give a broader view of the contingency approach. They say, “The contingency view seeks to understand the inter-relationships within and among sub-systems as well as between the organization and its environment and to define patterns of relationships or configurations of variables contingency views are ultimately directed toward suggesting organization designs and managerial actions most appropriate for specific situations.
Firstly, the contingency approach does not accept the universality of management theory. It stresses that there is no one best way of doing things. Management is situation, and managers should explain objectives, design organisations and prepare strategies, policies and plans according to prevailing circumstances. Secondly, managerial policies and practices to be effective, must adjust to changes in environment.
Thirdly, it should improve diagnostic skills so as to anticipate and ready for environmental changes. Fourthly, managers should have sufficient human relations skill to accommodate and stabilise change.
Finally, it should apply the contingency model in designing the organization, developing its information and communication system, following proper leadership styles and preparing suitable objectives, policies, strategies, programmes and practices. Thus, contingency approach looks to hold a great deal of promise for the future development of management theory and practice.
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I amagreeing with my colleague’s answer Mr Khalid Ghaffar
