Contemporary Management Approaches

Management is an asymmetric, dynamic, social process that has to be applied according to the particular needs of time, place and person connected with it. for effective and efficient realization of the set goals and objectives.

Any management process and its style may be considered to be composed of two different structures - rational and human. The rational structure provides support for clear and adequate authority-responsibility parity for individual decision making as quickly as needed. The human structure provides support for holistic concern for the organistion and its human resources. The relative strength and coverage of these structures arc dictated by the sociocultural setting of the country and organization, or by the place, people and period of time. Depending on the existing sociocultural setting of a country and place, people and period of time. a particular management style will appropriate if and when its practitioners can integrate, rather than suptl impose, its two basic elements, namely the rational and the hurl structures, according to the requirements of its people, its business and its organizational environment, prevailing during the period. In the recent years new issues and challenges in the field management theory and practice have emerged. No new paradigm has been formulated that replaces the traditional views. but most of the  managers continue to strive toward a better understanding of how that can better compete and lead their organization towards improve" effectiveness.

Several scholars have attempted to develop new and imaginati management models and theories. Although it is still too early to assess the merits and longevity of their ideas, the work of William Ouchi (Thee Z Approach), Henry Mintzbcrg (Managerial Roles Approach). McKin! (7-S Approach), Thomas Peters and Robert Waterman (The Excellence Movement), and the Decision Support System etc. have caught attention of many managers.

Theory Z : A Hybrid Approach : This theory has b, developed by William Ouchi. The theory Z approach adapts the clcmc of effective Japanese Management systems to U.S. culture. The important  features of  Z theory based companies believe that the relationship among the worker, manager and other groups are also cooperative. The central notion is the creation of an industrial team and a stable and cohesive work environment where employee needs for affiliation. Bence, and control arc met. The first step in this direction is to create and publicize a humanistic statement of corporate philosophy.

In theory Z. selected Japanese managerial practices are adapted to the environment  of the United States. This approach is practiced by some imp companies in the USA. This theory also emphasizes on the personal skills that are needed for group interaction. Yet despite the emphasis on group decision making responsibility remains with the individuals. There is also an emphasis on informal and democratic whip based on trust.

Ouchi's ideas have been well received by practicing managers in mat countries and most of the organisations are trying to implement his, suggestions. However, due to some criticisms that have been aroused to tlbeory Z is quite likely to be supplanted by more refined and valid model and theories as we begin to learn more about the international anwwin of management. Inspite of them theory Z deserves special recognition because it gave early momentum to the development of management theory in the global arena.