Management in the 21st-Century World: How Has the Domain Evolved?
In the earlier half of the last century, management science came into existence. A top-down approach was incorporated where optimum efficiency and productivity were prioritized. It was carried out by the centralization and hierarchy of power. In the latter half of the 20th century, organizations started becoming more complicated. It saw the upbringing of the movement involving Human Resources, which took note of the quality and quantity ofthe hired workforce. Slowly, managers started realizing the concepts of productivity and efficiency. You might remember that the following decade saw the market ergonomics shifting to resource tools from measuring functions.The following two decades saw an increase in competition in different industries. Business process reengineering and benchmarking started gaining popularity by the end of the 1990s. The start of the 2000s saw the rise in Big Data in organizations. Proper management of resources started to become necessary. This is the time when...