Modern Theory (3)

In this article we will discuss Modern Theory (3)

Modern Theory (3)

Characteristics of Modern Management Thought (1)

1. The Systems Approach: An organization as a system has five basic parts –
(i) Input
(ii) Process
(iii) Output
(iv) Feedback and
(v) Environment

It draws upon the environment for inputs to produce certain desirable outputs. The success of these outputs can be judged by means of feedback. If necessary, we have to modify out mix of inputs to produce as per changing demands.

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