The second half of the twentieth century will be remembered for the reconstruction and establishment of new global economy. This new global economy is based on the principle of equality of all nations and inspired by the objective of peace and welfare of all humanity. The national boundaries of trade have been relaxed; this has led to a rapid growth in trade volume and increased competition. Developing countries have tried to achieve high rate of growth during this period. To achieve high growth rate, it is necessary to adopt efficient management style and techniques by business enterprises. There has also been a continuous change in the style of management at different times. The journey of systematic study of management thought starts classical approach and it is changing as per need of time and culture. The purpose of this paper is to review the evolution of management styles/theories in the world.

___________________________________________________________________________________

Keywords: Collectivistic, Individualistic, Classical Approach, Behavioral, Management Style, Theory Z.