Management Theory: Group Assignment

You have been appointed as the manager for Santop Company Limited, a company
that produces tomato paste for local and international markets. The company has
been in existence since 1959. Several managers have led the company from glory to
glory until the year 2020 when COVID-19 pandemic showed its ugly face. From
2020 till now, productivity has not been at its best due to not only COVID-19, but
the volatile economic environment, and fierce competition from other companies. In
addition, the strict measures imposed by the International Monetary Funds (IMF)
bailout on the economy have led the government to enact new laws to regulate
businesses in the country. During your acceptance speech as the new company’s
manager, you indicated that you will apply the appropriate management theory to
curtail the precarious situation and employ all the necessary managerial principles
to mitigate the forces in the environment that have been impeding on the company’s
mission statement.

Required:
a) Which appropriate theory will you be applying to revamp the company?
b) Explain any four (4) criticisms of the management theory stated in (a).
c) Discuss any five (5) contemporary management practices that incorporate
such a theory.

N.B: Use Times New Roman, font size 12, Double spacing, justify, indicate your
names and ID numbers on the title page. The write up should not be more than
seven (7) pages including title page and references. However, do not forget that
scanty work attracts scanty marks. The write-up should be printed and
submitted to the lecturer on Sunday 24th March 2024 by 8 am. For those taking
an online class, the date and time for submission remain the same.