Neo-classical theory report PowerPoint!!

Neo-classical theory

1. Neoclassical Theory Here is where your presentation begins

2. History of Neoclassical Theory Neo classical approach was first set out by Alfred Marshall in his book principles of economics, published in 1890’s. George Elton Mayo is considered as founder of neo classical theory.

3. Introduction The word neo means “new” The word classical refers to work done by group of economists in the back (18 & 19) century

4. Neo classical approach Behavioral system Human relation movement

5. Human relation movement Proposed by Elton Mayo. He mainly focused was on the people working in an organization. Human relation development contributed to: Employee-centric, democratic and participative style of leadership is more efficient.

6. Human relation development contributed to: * Psysiological needs
*safety Needs
*love And belonging needs
*esteem needs
*self actualization

7. Behavioral system It can also be called as mature version of human relation theory. This theory is how the managers should behave to motivate the employees and encourage them to perform at high levels and be committed to the achievement of organizational goals.

8. 1. Individual 2. Work Group 3. Participative management 4. Oreintation 5. Motivation 6. Leadership 7. Employee Development Elements of Neo-Classical Theory

9. Every individual has emotions, feelings, attitudes, hopes, aspirations, and expectations. Neo-classical theory recognized the individual differences which were ignored by the classical theory. Individual

10. An individual in a group develops Social wants. As he is a social being, he develops a desire to belong & to be accepted by his work group. Work Group

11. Neo-classical theory suggested workers participation in management for improving their productivity. Participative management

12. Classical theory was job oriented while neo-classical theory is employee oriented. Oreintation

13. Neo-classical writers considered business organization as a social system. Motivation

14. Democratic style of leadership is essential to develop co-operative attitude of employee towards management. Leadership

15. Employee Development As there is a close connection between moral and production, neo-classical writers emphasized that management that must take greater interest in employee development workers satisfaction.

16. “It’s fine to celebrate success but it is more important to heed the lessons of failure.

- Bill Gates