GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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System approach
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Contingency approach
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Quantitative-Operation research
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All of the above
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Detailed explanation-1: -Modern approach to management has three basic pillars: I. Quantitative Approach II. System Approach III. Contingency Approach.
Detailed explanation-2: -Modern Management Theory is actually comprised of three other management theories-Quantitative Theory, Systems Theory, and Contingency Theory.
Detailed explanation-3: -’ Understanding organizations comes from understanding management theory, and Kimani outlines four major management theories for the basis of organizations: bureaucratic theory, scientific management theory, behavioural management theory, and human relations theory.
Detailed explanation-4: -Some of the most popular management theories that are applied nowadays are systems theory, contingency theory, Theory X and Theory Y, and the scientific management theory.
Detailed explanation-5: -Modern Management Theory. Modern management theory adopts an approach to management that balances scientific methodology with humanistic psychology. It uses emerging technologies and statistical analysis to make decisions, streamline operations and quantify performance.