Principles of Management: Traditional and Contemporary Approaches

This report discusses traditional and contemporary approaches to management, including the importance of managing resources and providing proper training to employees. It identifies major developments in the history of managerial thought, including classical and contemporary approaches. The report also includes areas of improvement identified through feedback.

Principles of
Management

Table of Contents
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
TASK ..............................................................................................................................................3
Identify major developments in the history of managerial thought including classical and
contemporary approaches............................................................................................................3
CONCLUSION ...............................................................................................................................6
REFERNCES:..................................................................................................................................7
Books and Journals:....................................................................................................................7
Online..........................................................................................................................................7

INTRODUCTION
Management is the process of organising all the tasks in such a manner that company is
able to achieve its goals and objectives effectively. It is necessary to manage the resources in an
optimum manner and provide proper training to the employees (Easterby-Smith and et.al., 2021).
This report has discussion related to traditional and contemporary approaches of management.
Along with the areas of improvements learned from the feedback are also discussed in this
report. It is necessary to understand the same and work effectively.
MAIN BODY
TASK
Identify major developments in the history of managerial thought including classical and
contemporary approaches
Management is important aspect that must be considered by n organisation. It is
necessary to use the resources in an optimum manner. There is need of proper management in
order to achieve the goals and objectives. There are various functions of management such as
planning, organising, staffing, directing and controlling (Byukusenge and Munene, 2017). It is
seen that the business world is dynamic and by using the principles of management a company is
able to deal effectively. It is necessary for an organisation to know about all the principles of
management and follow them effectively.
The module was based on understanding the approaches of management. It is seen that in
traditional approach of management the focus on achieving the goals. The senior management
was responsible to formulate the targets and the juniors were given instructions to accomplish
them. The employees were given target and they have to work according to them. They were
given reward for the work done by them and they were motivated. It is necessary to note that
traditional ways of doing business were used at that time (Suša Vugec, Tomičić-Pupek and
Vukšić, 2018). The classical theory was explained at the time of lectures as it was used as
traditional theory for management. As per this theory the employees are motivated strongly and
given financial benefit. The needs of the employees were analysed so that they are able to gain
opportunities and use them effectively. The next is human approach that focuses on motivating
the employees by other methods as well. Monetary rewards are important but some employees
need recognition (Ciric and et.al., 2019). They like to get praise and that is the feeling of

motivation for them. I have understood this concept after completing the module. As human
resource is essential for an organisation they must be motivated and given proper working
environment so that the goals and objectives are achieved successfully. Contingency approach is
one in which is based on the situation (MASHUR and et.al., 2019). There is need of effective
decision making in order to deal with the situation. This is one of the important theory of
traditional management.
As the world is changing, the business organisation started switching to new ways of
management called contemporary approach of management. The business environment is
dynamic and that is why the organisation that are work must also adopt new ways of doing
business. Herein, I learned about new ways of management. Due to rising competition the
business organisation worked on achieve goals and objectives in an effective manner. The
strategies formulated are based on gaining advantage over the competitors. There are various
complex situations that arise in the organisation and to deal with them it is important to use latest
management practices (Amankwah-Amoah, and Wang, 2019). There is use of various
frameworks that help in string strategy formulation, To manage change, to conduct proper
research in order to achieve success. It is necessary for an organisation to switch with time and
use latest ways of management. The focus is on customers and creating needs. The business
organisation analyses the problems that are based by the organisation and make efforts to solve
them and achieve success. It is necessary to provide quality goods to customers so that they are
able to attract them and serve them effectively. It is seen that workload increases day by day so it
is essential to manage the same. Now a days the focus is on flexible working hours and they help
to manage the working environment of that place. The management by objective is also followed
by the employees so that the goals and objectives are followed on time. They work in such a
manner that innovative ideas are considered by the organisation and this helps them to achieve
success (Imhanzenobe, 2021). The various other topics that are were studied under the lecture are
flexible and adaptable working conditions, transformational strategies, increase collaboration,
innovative ideas, and effective objectives that are based on dynamics. All these are followed by
the organisation that are working in today's time.
I am able to know about the areas of improvement with the help of feedback. I should
have described the concept of management with more definitions. To enhance the understanding
I should have written the theories given by Mintzberg or Peter Drucker. It is seen that there are

management tools that play a vital role in conducting internal and external analysis of the
company. I have tried to explain the concept of them but not elaborated. I should have written
the use of both tools by managers and the benefits of the same to the company. PESTLE
Analysis stands for political, economic, social, technological, legal and environmental factors. I
have not written full form and will use the same in future. There were spelling mistakes that were
made by me while doing the project. From the next time I will remember to cross check the
project and make improvement if there are any. I will try to be attentive and write carefully so as
to avoid the spelling mistakes. I will take this feedback positively and will make all the desired
improvements from now onwards.

CONCLUSION
The report was based on management theories used by the organisations. It is important
to know the difference in traditional and contemporary approaches of management used by the
organisation. It is necessary to know the use of all the approaches. Along with that the areas that
need improvement are identified with the help of feedback in the end of this report.

REFERNCES:
Books and Journals:
Amankwah-Amoah, J. and Wang, X., 2019. Opening editorial: Contemporary business risks: An
overview and new research agenda.
Byukusenge, E. and Munene, J. C., 2017. Knowledge management and business performance:
Does innovation matter?. Cogent Business & Management, 4(1), p.1368434.
Ciric, D and et.al., 2019. Agile vs. Traditional approach in project management: Strategies,
challenges and reasons to introduce agile. Procedia Manufacturing, 39, pp.1407-1414.
Easterby-Smith and et.al., 2021. Management and business research. Sage.
Imhanzenobe, J., 2021. A review of the Management Science theory and its application in
contemporary businesses. African Journal of Business Management, 15(4), pp.133-138.
MASHUR and et.al., 2019. Moving from traditional to society 5.0: Case study by online
transportation business. The Journal of Distribution Science, 17(9), pp.93-102.
Suša Vugec, D., Tomičić-Pupek, K. and Vukšić, V.B., 2018. Social business process
management in practice: Overcoming the limitations of the traditional business process
management. International Journal of Engineering Business Management, 10,
p.1847979017750927.