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Answer» Thoughts of modern management: - The format of industries and business-Hnit again changed after 1960. This demanded,the need of special approach of management.
- Management was not restricted to only business and industrial units but also included professional people and units that provided professional services like that of taxation, law, medicine, etc. These professions gave rise to a new class of managers.
- Over and above management thoughts, thoughts for psychology, social studies, statistics, mathematics and computer, information technology also emerged.
- Management Gurus like Koontz O’Donnell, George R. Terry, Peter F. Drucker, William Ouchi and C. K. Prahlad have contributed in the thoughts of modern management.
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