Today's business world is radically different from that of the 1970s, although it has some similarities. During the 1970s, contemporary management approaches such as quantitative management, organizational behavior, systems theory, and contingency perspective were used. According to Bateman and Snell (2013), “contemporary approaches have developed at different times since World War II and they continue to represent the cornerstones of modern management” (p. 41). For example, the contingency-based management approach was developed in the 1970s and addressed the shortcomings of earlier management systems that did not take into account internal and external factors affecting performance. The contingency perspective introduced the idea of ​​identifying situational circumstances to determine the management actions that should be taken. The contingency perspective, along with its predecessors, is still used today in various ways and combinations. The 1970s were a period of great technological innovation. Mary Bellis (nd) created a timeline documenting the history of personal computers, showing that although the first commercial computer was introduced in 1951, the development of the first microprocessor in 1971 was a big step toward making smaller computers and less expensive. This paved the way for the personal computer, which made technology and computing power accessible to the general public as well as small businesses. In this era of technological advancement, managers have had to adapt to rapid changes in the tools used in the workplace. Some of these changes included the recent development of the floppy disk as well as data and word processors. Productivity was increased middle of paper......in a competitive world (10th ed., p. 41). New York, NY: McGraw-Hill Irwin. Bellis, M. (March 5, 2014). The History of Computers - Timeline of computer history. Retrieved May 27, 2014 from http://inventors.about.com/library/blcoindex.htm From George, RT (nd). A History of Business Ethics. Retrieved May 27, 2014, from http://www.scu.edu/ethics/practicing/focusareas/business/conference/presentations/business-ethics-history.html Kunde, B. (May 15, 2008). A brief history of word processing (to 1986) / by Brian Kunde. Retrieved May 27, 2014, from http://www.stanford.edu/~bkunde/fb-press/articles/wdprhist.htmlNakate, S. (2012, March 27). Technology in the 1970s. Retrieved May 27, 2014 from http://www.buzzle.com/articles/technology-in-1970s.html Ng, D. (May 23, 2014). What is teleworking? Retrieved May 28, 2014 from http://www.wisegeek.org/what-is-telecommuting.htm