Contingency approach is one of the modern approach to management. According to this school of management there is no one best approach that is applicable to all situations. Methods and techniques that are highly effective under one circumstance may find themselves useless elsewhere. What is applicable to a small business enterprise may not be good enough for big business. So contingency approach suggests that managers must try to understand situation on hand first and then select an appropriate management approach accordingly. Situational sensitivity and pragmatic selection are essential.
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