contingency (noun, con-tin-gen-cy, \ kənˈtɪndʒənsi \) school (noun, school, \ skuːl \) management (noun, man-age-ment, \ ˈmænɪdʒmənt \)
Definition: is a business management philosophy based on the idea that there isn’t a single right way to manage an organization, as every situation, manager, and company are unique in their nature. As a result, it acknowledges the existence of only a couple of universal management principles, with the individual management style being determined based on the demands presented by a specific situation or problem. Managers that follow this philosophy tend to adopt a flexible management approach and are inspired by a variety of theories when attempting to solve a problem.
In a Sentence:
- The manager of Q-Shape belonged to the contingency school of management. Thus, whenever a new problem was brought to his attention, the first words he uttered were usually “Well, it all depends…”
- The benefits of adhering to the idea of the contingency school of management are unquestionable. There’s no arguing the fact that managing a fast-food place and running a software developing company demand completely different approaches.
Synonyms and related words: behavioral school of management, contingent management style, classical school of management, business school
