Guest Editorial

Excerpt

Management is not a new phenomenon. It has existed from times immemorial. In the 20th century, management developed as a science largely because of seminal works done by people like F.W.Taylor, Henry Fayol, Elton Mayo, Weber, McGregor and Peter Drucker. The context and scope of these works was mostly organizational. No one could deny the relevance and applicability of these works from the organizational perspective. But the current century has thrown new challenges for management practitioners, and the era post the 2008 financial crisis has seen growing criticism of the various existing economic and management paradigms for their viability in the contemporary world. There has been a growing debate over the relevance and sustainability of these existing management paradigms and there is a need to evolve new paradigms where decision makers should think beyond the organizational and individual interests. …