Final answer:
Greg is using a contemporary management perspective, which integrates elements of various management theories and adapts to individual and situational factors for effective organizational operation.
Step-by-step explanation:
Greg is utilizing a contemporary perspective in his company. This type of management acknowledges the importance of inputs, outputs, transformation processes, and feedback in an organization. It also involves a leadership style that adapts according to individual and situational factors, aiming at error minimization through managing every stage of production. The contemporary management perspective reflects current practices that integrate the elements from various schools of thought, such as Douglas McGregor's Theory X and Theory Y from the behavioral science perspective on leadership behavior, which are absorbed into a modern, holistic approach.