Abstract

Though there are conceptual similarities among the categories, these three divisions distinguish management based on their area of emphasis and historical context. The goal of traditional management theory, which arose from the Industrial Revolution, is to maximize output and efficiency. The early 20th century saw the development of behavioral management theory, which tackles the social and human components of organizations. After World War II, modern management theory emerged, fusing sociology and mathematics to create comprehensive management strategies. By utilizing human resources to the fullest extent possible, modern management theories assist organizations in maximizing production. Companies make every effort to help employees reach their full potential and efficiency. By making the most use of human resources, modern management theories assist organizations in maximizing production. Companies make every effort to help employees reach their highest levels of productivity and potential. This paper therefore discusses principles of competitive advantage, knowledge management, knowledge sharing, utilization of knowledge and the advantages and drawbacks of and disadvantages on the aspect of competitive advantage theory.

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