One example of a theory discussion and application in management is the contingency theory. The contingency theory argues that there is no one best way to manage and that the most effective management style depends on the situation. The theory suggests that the most effective management approach depends on several factors, such as the company’s size, technology, and the external environment.
For example, in a small company that operates in a stable environment, a directive management style may be effective. In contrast, in a large company operating in a rapidly changing environment, a more participative management style may be more appropriate.
The application of the contingency theory in management involves evaluating the current situation and determining the most appropriate management approach. This requires managers to be aware of the factors that influence their management decisions and to adjust their management style accordingly.
In practical terms, the contingency theory can be applied by regularly reviewing the company’s current situation, considering any changes that have occurred, and making adjustments to the management approach as needed. This can help ensure that the management style remains effective and responsive to the needs of the company.
