get custom paper. He asserts that there are leadership traits that apply to every kind of situation and that a leader must be flexible to adapt to a changing environment. Initially, a factory executive enjoyed minimal, if any, contact with his employees. He suggested that leaders assign team members to jobs that best match their abilities, train them thoroughly and supervise them to ensure they are efficient in the role. Developed by Fred Fiedler, this theory’s primary focus is that no one management approach works for every organization. His principles for creating this system include a chain of command, clear division of labor, separation of personal and organizational assets of the owner, strict and consistent rules and regulations, meticulous recordkeeping and documentation and the selection and promotion of employees based on their performance and qualifications. These assets play a key part in the financial planning and analysis of a company’s operations and future expenditures, Employee morale is defined as the overall satisfaction, outlook, and feelings of well-being that an employee holds in the workplace. Taylor’s philosophy emphasized the fact that forcing people to w… Increased objectivity: Management theories encourage leaders to make scientifically proven changes rather than relying on their judgment. It was first developed in Europe by It was first developed in Europe by HenriFayol(1916) and in America by F.W.Taylor(1911). Taylor's scientific theory poses some … It could also mean empowering team leaders with more decision-making capabilities and eliminating the need to fully move up the chain of command to receive approval on decisions. There are several external and internal factors that will ultimately affect the chosen management approach. In an organization where team members show little passion for their work, leaders are likely to employ the authoritarian style of management. Many of these theories gave rise to the leadership approaches commonly used to guide and grow organizations today, and you can choose from among them to identify the strategies that will work best for you and your team. This is a participative management style that gives rise to a more collaborative work environment, whereas theory X leads to micromanaging. Understanding the management theories helps a manager to be effective in management roles. These experiments gave rise to the theory that employees are more motivated by personal attention and being part of a group than they are by money or even working conditions. According to Aguinaldo & Powell (2002), management theory evolves con-stantly with the continuous stream of new ideas that come from the attempts to transform theory into practice, and vice versa. He believed that leaders had six main functions, to forecast, plan, coordinate, command and control, and he developed principles that outlined how leaders should organize and interact with their teams. This theory has played a key role in establishing standards and procedures that are at the core of most organizations today. LPC is used to assess how well oriented a manager is. Management theories are very relevant to managers in modern organizations. Give your team members more power in making decisions. According to this theory, managers should evaluate patterns and events within the organization to determine the best management approach. Theories of management are very important for any business and organization.The experts have presented different management theories for the successful running of organization. These ideas are called as six theories of management.Here is the list of Different types of management theories are discussed in details. 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