The document discusses different perspectives on management including systems perspectives and contingency perspectives. It defines key concepts from the systems perspective such as open systems, closed systems, subsystems, synergy, and entropy. Open systems interact with their environment while closed systems do not. Subsystems are systems within broader systems. Synergy refers to subsystems working together more successfully than alone. Entropy is the process by which systems decline due to failing to adjust to changes in their environment. The contingency perspective holds that there is no single best way and the appropriate approach depends on the situation.