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Theory Z Japanese Managers Encouraged more participation Deeper concern for employee’s well-being Great emphasis on quality Top management acted as facilitator William Ouchi Theory Z See Learning Objective 6: Define the contingency approach to management See text page: 40 The Contingency Approach The 1970s were characterized by the so-called contingency approach. In the contingency approach to management, different situations and conditions require different management approaches. Proponents believe there is no one best way to manage The best way depends on the specific circumstances Many contingency theories outline in detail the style or approach that works best under certain circumstances. * See Learning Objective 7: Explain the concepts of the search for excellence and the emphasis on quality See text page: 41-43 The Search for Excellence In 1982, Thomas J. Peters and Robert H. Waterman Jr. released a book, In Search of Excellence, which soon became the best-selling management-related book ever published at the time. Using a combination of their own standards and six measures of financial success covering a 20-year period, the authors identified a group of 36 American companies that had demonstrated excellent performance over the 20-year period studied. Peters and Waterman re-emphasized the value of on-the-job experimentation and creative thinking, the need to place the customer first, and the need to treat employees as human beings. As soon as two years after their publication at least 14 of the “excellent” companies had lost some of their luster; 12 of these were unable to adapt to fundamental changes in their markets. At least two lessons can be drawn from the experiences of these companies: (1) The excellent companies of today will not necessarily be the excellent companies of tomorrow and (2) good management requires much more than following any one set of rules. * See Learning Objective 7: Explain the concepts of the search for excellence and