The classical management approach is the theory of management that focuses on the productivity, output and efficiency of workers, rather than the differences in behavior that exist among them. This approach merges bureaucratic, administrative and scientific theories of management.Know More
According to the Workforce Magazine, the classical management approach seeks to maximize the benefits of consumers and investors in consistent and fair levels. The classical management approach is advantageous because it is based on a hierarchical organization structure, which defines the responsibilities and objectives of managers within each level of management. Additionally, the classical management approach proposes the division of labor, which increases employee performance and reduces expenses.
The Houston Chronicle adds that the classical management approach is effective because it leads to efficiency in decision making. One critic states, however, that the classical management approach is disadvantageous because it reduces employee motivation, growth and creativity and discourages teamwork. It also ignores the needs and desires of workers, and therefore is not suitable for modern organizations, which are diverse.
The classical management theory was proposed during the Industrial Revolution, based on the works of Henri Fayol, Max Weber and Fredrick Taylor. The neoclassical organizational theory was proposed to overcome the challenges of the classical management approach.Learn more about Managing a Business
The advantages of discussion groups include increased productivity, enhanced creativity and the ability to reach a general consensus among all participants. Some of the disadvantages are the potential for group members to slip into "groupthink," the differences among separate personality types and the time required to establish discussion groups.Full Answer >
Some advantages to teamwork are greater resources, a wider range of ideas and a broader skill set, all of which lead to increased productivity. A group working as a team is usually able to resolve issues and complete tasks more quickly and more efficiently than an individual working alone.Full Answer >
A min/max inventory system is an approach to managing materials or goods in which the business sets a minimum threshold and a maximum level of inventory to hold. When the current supply of an item reaches the minimum level, a new order is placed. When new materials or goods are ordered, the total supply on hand cannot exceed the maximum amount.Full Answer >
Management by objectives is a business model that encourages a team collaboration committed to achieving a company's mission. Each management level identifies a target purpose, which is agreed upon by organizational consensus. This management style was first introduced in Peter Druck's 1954 book, "The Practice of Management."Full Answer >