Question

What is the differences between the classical and contemporary perspective

Answer 1

The contemporary approaches to management include: sociotechnical theory, quantitative management, organizational behavior, and systems theory.

The fundamental principle of the classical theory is that the economy is self‐regulating. Classical economists maintain that the economy is always capable of achieving the natural level of real GDP or output, which is the level of real GDP that is obtained when the economy's resources are fully employed.

The basic premise of all classical sociological theory is that the contemporary world is the outcome of a transition from “traditional” to “modern” societies. Explain how Karl Marx, Max Weber, & Emile Durkheim describe this transition.