About This Chapter
Contemporary and Future School of Management Theory - Chapter Summary and Learning Objectives
In this chapter, you'll learn about contemporary and future school of management theory. Well-informed instructors will help you understand different approaches to management and define various terms related to managing an organization. By the time you've completed this chapter, you should be able to do the following:
- Discuss modern management theories, including quantitative and contingency approaches to management.
- Show how operations management can be dependent on production efficiency and customer satisfaction.
- Differentiate between open and closed systems of management.
- Explain the relationship between entropy and synergy.
|Modern Theory of Management||Discuss how managers need to account for and help interpret the rapidly changing nature of today's organizational environments.|
|Quantitative School of Management: Improving Managerial Decision-Making||Learn how the quantitative school of management was developed. Explore its origins and the ways it has changed how managerial decisions are made.|
|Operations Management: Focusing on Production Efficiency & Customer Service||Examine the role of operations management as a branch of quantitative management, whereby the focus is on production efficiency and customer satisfaction.|
|Management Information Systems: Using Data to Manage Operations||Explore the role of management information systems as a branch of quantitative management, whereby the focus is on past, present and future data that can be used to manage operational activities within an organization.|
|Systems Management Theory||Learn about systems management theory and its use by organizations as a way to produce a global representation of its own processes.|
|Contingency School of Management||Find out about contingency management and the idea that there is no one best way to approach management; instead, the best approach depends on internal and external factors affecting an organization.|
|Quality School of Management: Kaizen & Reengineering Approaches||Explore quality management, which focuses on the whole organization and trying to improve the level of quality delivered to customers. Discuss the Kaizen and reengineering approaches.|
1. Modern Theory of Management
Modern management theory has changed the way managers look at their jobs. Advancements and refinements in management theory and practice have enabled managers and managerial systems to evolve. In this lesson, we will look at modern management theories.
2. Quantitative School of Management: Improving Managerial Decision-Making
In order to be effective, managers must make informed decisions. In this lesson, we will help you to understand how managers make decisions using data, models and statistics.
3. Operations Management: Focusing on Production Efficiency & Customer Satisfaction
Operations is the lifeblood of any organization - how a business works and processes materials and services helps produce its output. In this lesson we will focus on operations and explain the elements present in it.
4. Systems Management Theory
Every business has to follow a process, and that process is the result of a system. The systems management theory focuses on systems and how they work and function within an organization.
5. Contingency School of Management
Companies must plan for the expected and the unexpected. In this lesson, we will talk about the contingency school of management and how that thought process and viewpoint helps companies to prepare for both the expected and unexpected.
6. Quality School of Management: Kaizen & Reengineering Approaches
All companies strive to improve and deliver a better product. That single thought is driven by the quality school of management. In this lesson, we will learn about that school of thought and how it evolved.
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Other chapters within the Business 101: Principles of Management course
- Management Basics
- Classical School of Management
- Behavioral School of Management Theory
- Organizational Change
- Organizing in Business Management
- Work Teams
- Leading in Organizations
- Leadership Theory
- Motivation in the Workplace
- Communication in the Workplace
- Controlling in Organizations
- Human Resources
- Strategic Management and Managerial Decision Making
- Production and Quality Assurance
- International Management and Contemporary Issues
- Studying for Business 101