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The Failure of Airbus A380 and the Modern Management Theory - Research Paper Example

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This essay discusses the modern management theory that reveals the importance of socio-economic and scientific approaches in order to create a more logical and meaningful output in the long run. This leads to the actual approach or consideration of quantitative approach, system approach…
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The Failure of Airbus A380 and the Modern Management Theory
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Download file to see previous pages In a system approach in project management, the interaction between the key players is important prior to the success of the project (Milosevic, 1989, p.173). The contingency approach adheres to the principle that no common rules will be applicable to all organizations especially in managing an organization (Rahim, 2011, p.57; Sauser et al., 2009, p.665; Howell et al., 2010, p.256). It is argued that one of the important reasons why the project may fail is not because of engineering and other relevant technical reasons, but managerial, as based on the contingency approach in modern management theory (Sauser et al., 2009, p.665). In other research investigation, there must be a dynamic collaboration between the resources and management decisions (Tang et al., 2013, p.551). The result of this study reveals that the actual situation in an organization should be the main priority of the investigative process prior to the implementation of varying strategies. In addition, the level of staff performance can be attributed to the implementation of contingency management (Hartzler et al., 2014, p.429). In its general sense, the modern management theory emphasizes the need to implement the plan, organization, coordination, communication or command and control (Swansburg, 1996, p.1; Rousell, 2011, p.32). A certain research study argues that project managers must put more emphasis on planning in projects marked as high risk, leaving the approval of plans to project committees on projects with low risk (Zwikael et al., 2014, p.435). Project planning is found to contribute to project success, which is clearly identified in the process of placing investment in the definition of the requirements and inception of the specified technicalities (Dvir et al., 2003, p.89). In addition, project management, which primarily involves the formulation of goals, leads to project success (Shields et al., 2010, p.650). ...Download file to see next pagesRead More
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