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It is the application of economic theory and methodology in business management practice. Focus on business efficiency. Defined as "combining economic theory with business practice to facilitate management's decision-making and forward-looking planning." Includes the use of an economic mindset to analyze business situations.
Path-goal theory is a contingency theory linking appropriate leader style to organizational conditions and subordinate personality. [45] Transformational leadership theory concerns the behaviors leaders engage in that inspire high levels of motivation and performance in followers.
Functional leadership theory [67] [full citation needed] addresses specific leader behaviors that contribute to organizational or unit effectiveness. This theory argues that the leader's main job is to see that whatever is necessary to group needs is taken care of; thus, a leader can be said to have done their job well when they have ...
Contingency theory of leadership In the contingency theory of leadership, the success of the leader is a function of various factors in the form of subordinate, task, and/ or group variables. The following theories stress using different styles of leadership appropriate to the needs created by different organizational situations.
The managerial grid model or managerial grid theory (1964) is a model, developed by Robert R. Blake and Jane Mouton, of leadership styles. [1] This model originally identified five different leadership styles based on the concern for people and the concern for production. The optimal leadership style in this model is based on Theory Y.
Managerialism is the idea that professional managers should run organizations in line with organizational routines which produce controllable and measurable results. [1] [2] It applies the procedures of running a for-profit business to any organization, with an emphasis on control, [3] accountability, [4] measurement, strategic planning and the micromanagement of staff.
Likert argues that the participative system is the most effective form of management within the systems. This system also coincides with human-resources theory based on the level of lateral interaction between employees and managers. Managers recognize problems that occur when there is little cohesiveness between members of an organization.
Branches of management theory also exist relating to nonprofits and to government: such as public administration, public management, and educational management. Further, management programs related to civil society organizations have also spawned programs in nonprofit management and social entrepreneurship.