The business management in the modern world Essay

The business management in the modern world - Essay Example This trend of training by the persons majored in different subjects brought new types of theoretical tools in to the business management. This developed in to critical management studies. The Critical mangement studies finds its roots in US inventions in Eurpoe and from a series of UK labour process conferences. They began in 1983 and reflected the views of Braverman's Marxist theory of business management. Discussion: The critical management perspective can be termed as provocative and revolutionary theory regarding the business management. This theory views critically every aspect of conventional management which was supposed to be the outcome of conventional wisdom. The thoughts of handful of elite will be questioned and the methods will be critically examined.1 The critical study of the management made possible the insights into the unexplored places in the study of the management and resulted in many issues, which found the necessity to research. This type of research activities brought conflict management and human resource management to the fore in the business management. Instead of considering the employees as tools in the business they are now considered as a part of the business. Critical studies reveal that the management cannot be viewed as neutral. It can be considered as complex phenomenon and is a subject of serious examination. The critical management demands critical view and analysis of the organizational management. The ethical, ideological and intellectual inspiration from Habermas and Foucault resulted in innovative application of the management theories. The theory, behavior regarding the organization, marketing, accounting, information systems and operational research can be examined critically and their relevance according to the need can be established. Accounting is an important wing and practice regarding the management. The critical thought regarding management demands changes in accounting practices. The process of accounting and the views of the individuals who practice accounting must be changed according to the needs of critical view and modern needs. The most important outcome regarding accounting due to critical thought is transparency. The laws like Sarbanes and oxley in US and many laws developed transparency in accounts of corporate business. This change brought a lot of change in management processes also. The practices required the change in monitoring by auditors and the cooperation extended by the management. 1 Institutionalism Thinking about institutionalism is also a part of the management and critical theories found a choice in it, which need change. The formation of an institution frames a policy. The social causation that is based around the notion of path dependence brings historical institutionalism. The concept of work utilizing appears to be use the institutionalism consistently. This is in very little agreement with its definition. The use of analytical frame work is explicit in critical studies. The history of institutionalism can be used for avoiding the failures in critical aspect of institutionalism. Archer in 1995, 1996 and 2000 argued that it presents an empirically testable model of path dependence. This model can provide ontological and organizational analysis. The modern industry is witnessing the need of computerisation and this resulted in rise of