Modern Theory (5)

In this article we will discuss Modern Theory (5)

Modern Theory (5)

Characteristics of Modern Management Thought (3)

Multilevel and Multidimensional: Systems approach points out complex multilevel and multidimensional character. We have both a micro and macro approach. A company is micro within a business system. It is macro with respect to its own internal units. Within a company as a system we have:-

(i) Production subsystem
(ii) Finance subsystem
(iii) Marketing subsystem
(iv) Personnel subsystem.

All parts or components are interrelated. Both parts as well as the whole are equally important. At all levels, organizations interact in many ways.

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