Development of Management Thought The document summarizes the development of management thought from classical to modern theories. It discusses the classical theories of Max Weber's bureaucratic model, F.W. Taylor's scientific management, and Henry Fayol's functional management. It then covers the neo-classical theories of Elton Mayo, Douglas McGregor's X and Y theory, and Abraham Maslow's contributions. Finally, it discusses modern theories including quantitative, systems, and contingency approaches to management and concludes with the importance of understanding management thought for decision making, efficiency, coordination, and relationships.

1. Development of Management Thought Submitted byHarpreet Singh M.Com 1st Semester Submitted toDr. A. K. Sharma Lect. In Commerce Dept.

2. Introduction Development of management thought is basically theory of Management. Theory is known as body of principles. As in Mathematic they are known as theorem. Theory is concerned with generation derived from data and establishing significant relationship.

4. The Classical Theory of Management It includes :- Bureaucratic Model by Max Webber in 1990 Scientific Management by F.W. Taylor in 1910 III. Functional or Administration or Process Management by Henry Fayal in 1910

6. Technical competence

7. Division of work

9. Mental revolution

11. III. Functional management theoryContribution of Henry Fayal:-Planning, Organization, Command, Co-ordination, ControlOther Contribution Under Functional Theory(i) Henry L. Gantt:- Gantt is regarded as one of the greatest contributor of Scientific Management era.(ii) Gantt Chart:- He developed a daily balance sheet chart called Gantt chart.

12. Neo Classical Theories It includes:- 1. Elton Mayo’s Human Relation Management (1927-1932) 2. Douglas Mc-Gregar’s contribution in X and Y theory 3. Abraham Maslow's contribution

13. Modern Management Theories It includes:- 1. Quantative or Mathematical approach to management 2. System approach to management 3. Contingency approach to management

14. Importance of Development of Management Thought 1. It increases the efficiency of workers2. Making good relation3. It helps in decision making4. It helps in coordination

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