Business

Definition: The Group refers to two or more persons who shares a common interest and come together to achieve common goals and objectives. The groups can be formal and informal; formal groups are created by the organization with the intent to accomplish its objective, while the informal groups get created spontaneously as soon as the individuals interact with each other. Types … [Read more...] about Types of Groups

Definition: The Theory X and Theory Y are the theories of motivation given by Douglas McGregor in 1960’s. These theories are based on the premise that management has to assemble all the factors of production, including human beings, to get the work done. McGregor believed that management can use either of the needs to motivate his employees, as grouped under theory X and … [Read more...] about Theory X and Theory Y

Definition: The Modern Theory is the integration of valuable concepts of the classical models with the social and behavioral sciences. This theory posits that an organization is a system that changes with the change in its environment, both internal and external. There are several features of the modern theory that make it distinct from other sets of organizational theories, … [Read more...] about Modern Theory

Definition: The NeoClassical Theory is the extended version of the classical theory wherein the behavioral sciences gets included into the management. According to this theory, the organization is the social system, and its performance does get affected by the human actions. The classical theory laid emphasis on the physiological and mechanical variables and considered these … [Read more...] about NeoClassical theory

Definition: The Bureaucratic Theory is related to the structure and administrative process of the organization and is given by Max Weber, who is regarded as the father of bureaucracy. What is Bureaucracy? The term bureaucracy means the rules and regulations, processes, procedures, patterns, etc. that are formulated to reduce the complexity of organization’s … [Read more...] about Bureaucratic Theory

Definition: The Administrative Theory was proposed by Henry Fayol, who studied the organizational problems from the manager’s viewpoint and found organization’s activities can be classified as Technical, Financial, Commercial, Security, Accounting and managerial. Henry Fayol's 14 Principles of Management Division of Work: The work should be divided among the individuals … [Read more...] about Henry Fayol’s 14 Principles of Management

Definition: The Administrative Theory is based on the concept of departmentalization, which means the different activities to be performed for achieving the common purpose of the organization should be identified and be classified into different groups or departments, such that the task can be accomplished effectively. The administrative theory is given by Henri Fayol, who … [Read more...] about Administrative Theory

Definition: The Scientific Management Theory is well known for its application of engineering science at the production floor or the operating levels. The major contributor of this theory is Fredrick Winslow Taylor, and that’s why the scientific management is often called as “Taylorism”. The scientific management theory focused on improving the efficiency of each individual … [Read more...] about Scientific Management Theory

Definition: The Classical Theory is the traditional theory, wherein more emphasis is on the organization rather than the employees working therein. According to the classical theory, the organization is considered as a machine and the human beings as different components/parts of that machine. The classical theory has the following characteristics: It is built on an … [Read more...] about Classical Theory

Definition: The Organizational Theory refers to the set of interrelated concepts, definitions that explain the behavior of individuals or groups or subgroups, who interacts with each other to perform the activities intended towards the accomplishment of a common goal. In other words, the organizational theory studies the effect of social relationships between the individuals … [Read more...] about Organizational Theory