What is Contingency Approach ?
The ‘Contingency Approach’ is the management style that adapts as per the situation. It is better at efficiently managing the employees than the rigid traditional management approaches.
The contingency approach is also helpful for the company as it helps in forming new experiences and formulating new solutions based on the problems at hand. This will help in the future if a similar situation arises.
It also helps in adapting to any kind of stress-inducing situation. This kind of adaptability and flexibility requires out-of-the-box thinking and the ability to quickly reach conclusions based on the data at hand. Hence, the managers practising the contingency approach generally end up as good leaders.