MANAGEMENT -1

TOPIC – CONTEMPORARY APPROACH

PPT PRESENTED BY:-

1.SHIVAM SINGH2.RAJENDRA PAL3.ALOK THAKUR4.ASHAB ANSARI

CONTEMPORARY APPROACH

Definition Contemporary approach means new , recent or current approaches in the field of management.

Example The way a steel company was running 100 years ago is different from today. However one steel company today might say they use "contemporary management" meaning, they use the same type of management that other steel companies use today.

CLASSIFICATION OF CONTEMPORARY APPROACH

Contemporary approach

Systems theory

Closed systems

Open system

Contingency approach

TWO CONTEMPORARY MANAGEMENT PERSPECTIVE

1. System theory

2. Contingency approach

1. SYSTEM THEORYDefinition A set of interrelated and interdependent parts

arranged in a manner that produces a unified whole.

Example The system approach recognizes that ,no matter

how efficient the production department might be ,the marketing department better anticipate changes in customer tastes and work with the product development department in creating products customers want ,or the organisation’s overall performance will suffer.

TYPES OF SYSTEM THEORY

1. Closed systems

2. Open systems

(A) CLOSED SYSTEMDefinition Systems that are not influenced by and do

not interact with their environment.

Example A production line is an example of a closed

system within an organisation. workers on an assembly line are generally only responsible for completing their tasks on the line, depending on what type of line it is.

(B) OPEN SYSTEMDefinition Systems that interact with their environment.

Example A corporation needs to gather resources and

information from its environment such as capital, employees, natural resources, and information from the market, government regulators and customers in order to function and grow.

2. CONTINGENCY APPROACH

DEFINITION A management approach which says that organisations

are different , face different situations and require different ways of managing.

EXAMPLE If the production line is too good in an organisation and

the consumers are not satisfactory according to it,then the manager of an organisation should use the contingency approach in order to maintain the situation in the best way.

MANAGERS TOOL IN CONTINGENCY APPROACH

Personal EvaluationsOne on One meetingsBuilding rapport with your teamGoing to meetingsHaving outingsTeam Building ExerciseThorough Conferences