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Question 21 (6 marks) (a) Outline ONE strength and ONE weakness of political management theory - HSC - SSCE Business Studies - Question 21 - 2007 - Paper 1
Question 21
Question 21 (6 marks) (a) Outline ONE strength and ONE weakness of political management theory. (b) Explain why contingency management theory is being more widely ... show full transcript
Worked Solution & Example Answer:Question 21 (6 marks) (a) Outline ONE strength and ONE weakness of political management theory - HSC - SSCE Business Studies - Question 21 - 2007 - Paper 1
Step 1
Outline ONE strength and ONE weakness of political management theory.
Answer
A significant strength of political management theory is its emphasis on the recognition of 'power plays' within groups. This focus highlights the importance of understanding dynamics among stakeholders, which can lead to more effective decision-making and resource allocation. On the other hand, a notable weakness is the tendency to concentrate on these power aspects while potentially neglecting other crucial business functions. This one-dimensional focus can result in imbalanced management practices.
Step 2
Explain why contingency management theory is being more widely used by businesses.
Answer
Contingency management theory is gaining traction among businesses primarily due to its inherent flexibility and adaptability to varying circumstances. In today’s rapidly changing business environment, organizations face diverse internal and external challenges. Contingency management provides a holistic view that accommodates the diverse factors affecting business operations, including stakeholder needs. By incorporating various management styles and strategies, this theory enables companies to tailor their approaches to specific problems as they arise, fostering a more responsive and effective management framework.