Modern approaches to management
Finally, the modern systems/contingency approach to management views organisations as a collection of interrelated parts requiring management practices to adapt to situational demands. Contingency thinking tries to match managerial responses with problems and opportunities unique to different situations, with the underlying principle that there is no ‘one best way’ to manage — the appropriate way to manage depends on the situation.
An appreciation of how management thinking has evolved over time provides a useful framework for managers to apply a contingency approach. Some elements of management thinking are as relevant today as they were in the early 20th century, while others are not. The practices of management are constantly evolving and re-evolving.