2.3 Modern management theories

Modern management theory adopts an approach to management that balances scientific methodology with humanistic psychology. It uses emerging technologies and statistical analysis to make decisions, streamline operations and quantify performance. At the same time, it values individual job satisfaction and a healthy corporate culture.
Shortcomings of the modern management approach include:
1. The prioritization of information that can be difficult, expensive, and time-consuming to collect
2. The gap between theoretical flexibility and practical agility
3. The tendency of some strains to be descriptive rather than prescriptive