ABSTRACT
The chapter initially provides a narrative on the management principles from a historical perspective, from the Indian context, and then transitions to showcase the confluence of principles and paradigms contributed by the gurus of the western world. A vivid description and elaboration on the alignment of thoughts, ideas, concepts, and principles laid down by the Management Gurus of the eastern and the western world in terms of setting up realistic targets, diversifying the economy, modernization of cities, investment provision for sustainable growth, and decentralization of power are the points of discussion in this chapter. The chapter also deals with classical management approaches that evolved as a result of the Industrial Revolution with magnanimous contributions from Winslow, Gilbreth, Fayol, and Weber in the areas of scientific, administrative, and bureaucratic management. The behavioral approach to Management and its theories discussed by Elton Mayo, Mary Follett, Douglas McGregor, Chris Argyris, and Abraham Maslow in the chapter emphasizes the need of employee motivation and good relations. Two prominent models, the Burns and Stalker model and the Lorsch and Lawrence model, focused on organic organizations and the need to maintain the equilibrium within. The chapter also discusses the systems and the mathematical or quantitative approach to management. C.K. Pralahad, and Stuart L. Hart's idea of fortune at the bottom of the pyramid and the management principles that revolve around the same have set the base for evolution and maturation of modern management practices and concepts ascertaining emphasis on Globalization, Technology, and Sustainability.
