What are the major categories of the managerial theories?

The classification of management theories is:

1. Systems Management: The systems management approach requires managers to view their organization as a system as opposed to a monolithic structure. It forces managers to think about how a change in one area will affect another area. The overall framework of the company is divided into departments, sections, and subsections.
2. Chaos Theory: The Chaos Theory believes specific events are rarely controlled, and that as the company grows, the energy necessary to mange the company must grow. The growth continues until the system becomes overly complex, joins another comples system, and continues to grow.
3. Freedom-Based Management Theory: The fundamental belief in this theory is that management does not need to be organized in a hierarchical structue that controls and restricts employees. The theory uses fully empowered employees that are more like entrepreneurs while still fully accountable and responsible to the company.
4. Contingency Theory: This theory is based on the belief that there is no single right answer and numerous factors need to be considered to make the best choices in any given situation. In this type of management, a hierarchical management system could be used in one situation and a different system could be used in another situation.