Question

Difference between classical and neoclassical theory in principles of management

Answer 1

Answer:

Under classical approach, attention was focused on job and machine. On the other hand, neoclassical approach to management emphasizes on increasing production through an understanding of people. However, the classical theory stresses on task and structure while the neoclassical theory emphasizes people aspect.

The classical management theory is a school of management thought in which theorists delved into how to find the best possible way for workers to perform their tasks.

Neoclassical theory explain the causes of migration and its main focus is on economic factors.

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Answer 2

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Classical management theory is based on the belief that workers only have physical and economic needs. It does not take into account social needs or job satisfaction, but instead advocates a specialization of labor, centralized leadership and decision-making, and profit maximization.