Management school of thought . It is based on the belief that job satisfaction for employees come only with satisfying economical and physical needs. Social needs and need for esoteric job satisfaction either do not exist or are meaningless. This leads to proponents advocating high specialization of labor, centralized decision making , and profit maximization . Refer also to behavioral school of management , contingency school of management , quantitative school of management , and systems school of management.
Black’s Law Online Dictionary
