.

By Group 1

 Adam Smith
 Published The Wealth of Nations in 1776 in which he argued the

economic advantages and society would gain from the specialisation of division of work.

Industrial Revolution
Industrial Revolution means a period during the late eighteenth

century when machine power was substituted for human power, making it more economical to manufacture goods in factories than at home.

Quantitative Approach
o It is an approach which believes in using

quantitative techniques that in turn helps saving a lot of time.

o It involves ways of application like models,

optimization models, statistics, graphs etc. which in turn help organizing and scheduling of the tasks.

Classical Approach
Scientific Management o An approach that involves using the scientific method to determine the one best way for a job to be done. y Fredrick Winslow Taylor
 The father of scientific management

Published Principles of Scientific Management

General Administrative Theory

o

An approach to management that focuses on describing what managers do what constitutes good management practice.

Behavioral Approach
o A field of study that does research on the actions

(behavior) of the people at work is called organization behavior.

o Cooperation and Coordination are the two factors on

which Behavioral Approach depends.

CONTEMPORARY APPROACH
 This approach helps us in understanding because managers must ensure that all the interdependent units are working together in order to achieve organization s goal.  There are two Contemporary management perspectives. They are Systems and Contingency.  Systems: A set of interrelated and interdependent parts arranged in a manner that produces unified whole.  There are also two types of systems.  Closed Systems are not influenced by and do not interact with their environment wheras in Open system at vice versa.