Discover Your Unique Life to be smart and creative. Business has a simple formula, Do It Now :)
Part A:
From the study of management, four schools of thought have evolved, reflecting different assumptions about what management is. These schools are:
1. The Management Process School
2. The Behavioral School
3. The Quantitative School
4. The System School.
Much of what is today referred to as classical management theory developed with the industrial revolution.
This includes Adam Smith’s concept of division of labor as well as Fredrick Taylor’s principles of scientific management.
Other contributors were Henri Fayol, who defined the functions of management, and Max Weber with his concept of the ideal bureaucracy.
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