Human-Centered Theories Shifting the Paradigm in Management

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Table of Contents

Introduction
Modern Management Theories and Success
Conclusion
References

Introduction

It is important to note that many management theories that persist today emerged a long time ago. There are a number of time-tested frameworks under which the most successful companies operate today. One of the oldest Fortune 500 companies still utilize and adhere to classical management styles based on productivity and efficiency to maximize profit. Therefore, it is of paramount criticality to shift the paradigm in management by creating more human-centered theories.

Modern Management Theories and Success

The Fortune 500 list is comprised of the most successful companies, among which there are the ones existing for more than a century. One of the oldest companies is Goldman Sachs, which strictly adheres to the classical management theory with an emphasis on efficient service provision and productive output, which explains its longevity. It is stated that “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” (Villanova University, 2022, para. 1). For instance, Goldman Sachs centralizes leadership, maximizes profits, and promotes specialization. The article states that “a human management will demand that we incorporate a concern for the freedom and well-being … consider the environmental as well as the economic consequences of strategic choices” (Petriglieri, 2020, para. 29). I think that new theories are needed to be centered around human needs, where the focus is made on advancing human well-being rather than profits only.

Conclusion

In conclusion, many modern successful companies still operate by relying on old and outdated management theories, such as classical management theory. There is a serious need for novel theoretical frameworks in management, and the efforts should not solely seek to enhance the existing ones. A center of focus should be put on accounting for the environment, human wellbeing, and creativity rather than mere efficiency and productivity.

References

Petriglieri, G. (2020). Are our management theories outdated? Harvard Business Review. Web.

Villanova University. (2022). What is classical management theory? Web.

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Human-Centered Theories Shifting the Paradigm in Management

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