Question

The Management of XYZ Company Limited uses value chain analysis, supply chain management, inventory b)Identify and explain the type of school of management approach being used in the company.(5marks) management, quality control, queuing theory, linear programming and network models approaches in management of the company. The company relies on scientific applications of mathematical techniques to c)Discuss in four (5) ways, how contingency School of Management is different from the type of school manage problems. a)Briefly explain the typesof management theoriesapplicable in XYZ company Limited. (5marks) of management identified in (ii) above.​

Answer 1

a) The school of management that the Management of XYZ Company Limited is applying is called Mathematical or Quantitative School of Management.

The Mathematical or Quantitative School of Management:

• Expresses management problems in equations, mathematical symbols, and quantitative models  
• Encourages wide application of computer technology, simulations, and analytics
• Introduces precision to management thinking and practice

b) The Contingency School, unlike the Mathematical  School of Management:

• Recognizes that not all management processes can be expressed with mathematical symbols and formulas.
• Identifies that mathematical models cannot replace sound judgment, which requires intuition and not equation.
• States that there is no single technique to solving management problems.
• Encourages managers to use any feasible management technique to solve problems, thereby thinking outside the box.
• Emphasizes that the applications of management principles and practices (process, behavioral, quantitative, and systems) should be contingent upon the prevailing circumstances.  

Thus, with Contingency School, the tools of management thinking and practice should be applied based on prevailing situations and not mathematically with equations, models, and symbols.

Learn more about another School of Management Thought here: brainly.com/question/15557968