People who ignore the past are destined to relive it.

A person unaware of mistakes made by others is likely to repeat them.

History and Theory of Management

The Value of HistoryThe Value of HistoryThe Value of HistoryThe Value of History

Management History :

• Management in Ancient Civilization• Management in Medieval period• Management During Industrial Revolution• Systematic Management

System Approach• Any organization is a system made up of sub systems having

definite goals• The focus should be on interrelatedness and interdependence of

subsystems.• Attentions should be paid on the effectiveness of the whole system

not the individual subsystems• Of 2 types

– Open system

– Closed system

Sub system

Sub system

Sub system

Sub system

Environment Environment

Environment

Sub system

Sub system

Sub system

Sub system

Environment

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Mathematical Approach• Management or planning or decision making is a logical process

• Can be expressed in terms of mathematical models

Mathematical Approach• Management or planning or decision making is a logical process

• Can be expressed in terms of mathematical models

Decision Theory• Concentrates on rational decision making out of possible solutions

– Defining a problem– Collecting relevant information– Defining alternatives– Examining/ assessing alternatives or solutions– Testing solutions– Selecting a course of action– Implementing the action– Evaluation of results

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Contingency Approach• Management action is dependent on certain activities within and outside system• Situational approach• If/Then relationship

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