The Functional Approach to Management.

The article looks at a functional approach to management. The author discusses the basis for the selection of facts used in managerial decision making. Managerial facts are selected primarily on one of two bases: the assumption that managers seek to maximize profits or the assumption that managers only try to satisfice and accept pragmatic solutions that just meet problem solving standards. Criteria for the development of the approach; Emergence of the human factor as a vital element in management theory. The first base is largely concerned with the economic efforts of managers, whereas the second base is concerned with profit maximization as well as other actions.