The Modern Approach

The Modern Approach to
management was given in the 1950s. The approach focused mainly on employee
satisfaction. According to this approach, employees do not necessarily work for
money and they like to receive affection and respect of co-workers, which
further increases their productivity.

·       
Quantitative approach: This approach focused on managerial decision making.
This is also known as management science approach.

·       
Systems approach: This approach a system can be defined as a set of components that are
interacting regularly or are interdependent, thus making a single unit.

·        
Contingency approach: This is also known as situational approach wherein an
organization determines problems by analyzing its conditions and environment.