Classical school of management,

Definition of Classical school of management:

1. Body of management thought based on the belief that employees have only economical and physical needs, and that social needs and need for job-satisfaction either dont exist or are unimportant. Accordingly, this school advocates high specialization of labor, centralized decision making, and profit maximization. See also behavioral school of management, contingency school of management, quantitative school of management, and systems school of management.