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Management is regarded as, taking place within a structured organizational setting with prescribed roles; Directed towards the attainment of aims and objectives; Achieved through the efforts of other people; and using systems and procedures. At its most basic, management may be viewed as making things happen.
Management is an art or science? It must always be something of an art, especially in so far as it involves practice, personal judgement and dealing with people. However, it still requires knowledge of the fundamentals of management, and competence in the application of specific skills and techniques as illustrated, for example, with developments in information technology.
Figure 1 Management as art, science, politics, magicAccording to Watson, Management can be viewed not only as both art and science but also magic and politics. (See figure 1)
Principles for today's management:
Moorcroft, R. suggests that Fayol's principles of management are still recognized as relevant and appropriate for the managers and management of today and tomorrow. However, although some of the principles of management remain fresh and relevant, at the start of a new millennium a new set of principles is needed to guide a manager's everyday actions. (See figure 2)
Figure 2 Ten new principles of effective administration management getImage_Servlet.aspx (2).jpg
SEEKING NEWNESS IN MANAGEMENT
The reinvention of management rests upon two premises: first, that current management practices are founded upon an outmoded management paradigm; second, that management innovation offers a superior basis for sustainable competitive advantage
The case for a new management paradigm:
In the present era, the pace of technological change and the rise of China and India as cost leaders in goods and services have displaced efficiency as the primary organizational goal. Western companies must compete on innovation and adaptability.
If we compare the current state of management with the automotive technology, it results that the major technological advances are long past, and recent decades have seen only minor incremental improvements.
At present the management has evolved to the point of scaling local peaks, fairly than being balanced at some Everest of accomplishment. So the challenge to the present managers is that of breaking away from reï¬ning the status and to take a major evolutionary rise on a new path up a mightier peak.
Any new management paradigm should be clear about the following three management innovation plan.
Dramatically accelerating the pace of strategic renewal
Making innovation everyone's job, every day
Creating a highly engaging work environment that inspires employees to contribute their very best.
The case for management innovation
The management innovation represents the highest and most valuable type of innovation available to the organization, that the long-term corporate advantage is typically the result of management innovation.
The following case-study will describes about the benefits of management innovation:
Whole Foods Market, the upscale organic and natural foods supermarket chain, whose management model includes equity (no executive can earn more than 19 times the average employee's compensation), commitment to shared values and radical decentralization of decision making to in-store teams;
W. L. Gore, the creator of Gore-Tex and many other high-tech fabrics, innovates through an organization that Hamel describes as 'a lattice, not a hierarchy'. Leaders are peer selected, and individuals are free to experiment, collaborate and self-select into projects, creating a vibrant marketplace for ideas;
Google, which dominates internet searches worldwide and is increasingly becoming the world's leading provider of information of all types, has a management model that Hamel describes as 'brink of chaos'. Google's small product development teams each have considerable freedom to create and pursue new initiatives, with each developer free to devote 20% of their time to experiment with whatever new ideas inspire them. Hamel sees the key attribute of Google's management model as 'evolvability'. In its continual stream of innovations, any one may be another Gmail or Ad Sense that promises to play a key role in Google's next stage of development.
"Successful management innovations result from adaptation to particular environmental circumstances - few from deliberate quests to find a better way." Robert M. Grant, The Future of Management: Where is Gary Hamel Leading Us? p.477
A future-oriented business or management concept begins with the assumption that the future is the most important resource available to any organization. However, the future differs from the present in three different ways that are important for management processes.
First, the scope for action in the future is much greater than in the present. By this scope we can shape our future, for an instinct decisions which are taken in the present can have a great impact on how the future is formed and controlled. Even if some other problem like population growth or world monetary system are beyond the organization control, so the action taken in the present are anticipated in future.
Second, the fact about the future that is important for decision making is that a great deal of improbability is involved; there are no real "facts" about the future, only opinions or conjectures. Fortunately, a corporation can have a greater degree of confidence in certain conjectures than others. These more dependable conjectures may be based on continuing long-term trends; this long-term trends should be based on fundamental structural characteristic of society; or result from systematic, comprehensive analyses based upon a consistent, reasonable and well formulated set of assumptions.
Third, the important fact about the future is that it does not suddenly spring up whole and apart from all the forces that preceded it. Since the present contains forerunner of the future, it is possible to design early warning systems to alert management to possible future changes. Because long-term trends change relatively slowly, it is possible to devise trend-monitoring systems to study potential future developments. And since the future is created as images in the heads of decision makers, who are strongly influenced by values and expectations, it is possible to examine these forces and, often, to help shape them. These qualities of the future permit the conscious development of a future-oriented corporate concept.
The organizational structures, it plays a key role in business or management. So there should build an "eternal" organizations or management for this twenty first century. This eternal organization results customer-oriented approach in combination with personnel engagement.
For example, consider a software company doing a project which is always focused on a customer satisfaction. Inside the project there will be some team is created to develop. This team provides for all the processes related to satisfaction of the customer's demands. The quality system of the project is also built with respect to the demands of this customer. The customer often considers the quality system availability to be a mandatory requirement for making the deal as it guarantees delivery of the product to be reliable and timely and the prices to be acceptable.
This is the same the organization wants to do in some extent level of manufacturing goods or services on customer basis. The following theory will describe this.
Demand chainÂ Management (DCM) which defines, extending the view of operations from a single business unit or a company to the whole chain. DCM is the set or processes or practices starting from the end customer and working backward to raw material suppliers.
The main objectives of this practices leads us "(1) to develop synergy along the whole demand chain, and (2) to start with specific customer segments and meet their needs rather than focus on internal optimization" the aim of the objectives will be clearly as customer-centric. In other words "the whole manufacturing and distribution process may be seen as a sequence of events with but one end in view: it exists to serve the ultimate consumer"
The evolution of DCM is by the rapid development of technology, and in particular the Internet, and has resulted in concept with a shift away from supply chains towards demand chains and DCM. The main motivation behind this will be the shift in power away from the supplier towards the customer.
The tools of this DCM or demand chain is combining supply chain information with analysis of customer interactions, transactions, and demands for goods/services to make more accurate sales and market demand forecasts.
Human Resources, Organizations are social systems where human resources are the most important factors for effectiveness and efficiency. Organizations need effective managers and employees to achieve their objectives. Employee job performance and satisfaction are considered to be key variables that impact the performance of organizations. In highly competitive global businesses must strive to identify factors that influence the performance and job satisfaction of employee.
Organizational justice is the key term to measure this job satisfaction of employees. This describes the individual's perception of the fairness of treatment received from an organization and their behavioral reactions.
To summarize, the final element of management to follow: 1) Making a target "Future Image" of society after 10 years. 2) Definition of the needs of the future society. 3) Investigation of the technologies needed to realize future products. 4) Database of advanced technologies for each industrial field. 5) Preparation of the technological forecast data. 6) Definition of projects based upon the new needs. 7) Evaluation of alternative projects for new product development.