Office Management 1d
Office Management 1d
Office Management 1d
Directing initiates action and it is from here actual work starts. Direction is said to be
consisting of human factors. In simple words, it can be described as providing
guidance to workers is doing work.
In field of management, direction is said to be all those activities which are designed
to encourage the subordinates to work effectively and efficiently.
From the above discussion, one can justify that direction, surely, is the heart of
management process. Heart plays an important role in a human body as it serves
the function pumping blood to all parts of body which makes the parts function. In
the similar manner, direction helps the subordinates to perform in best of their
abilities and that too in a healthy environment. The manager makes use of the four
elements of direction here so that work can be accomplished in a proper and right
manner.
According to Earnest Dale, “Directing is what has to be done and in what manner
through dictating the procedures and policies for accomplishing performance
standards”. Therefore, it is rightly said that direction is essence of management
process.
Motivation
Motivation is the word derived from the word ’motive’ which means needs, desires,
wants or drives within the individuals.
In the work goal context the psychological factors stimulating the people’s
behaviour can be -
Importance of Motivation
Motivation is a very important for an organization because of the following benefits
it provides:
The level of a subordinate or a employee does not only depend upon his
qualifications and abilities. For getting best of his work performance, the gap
between ability and willingness has to be filled which helps in improving the
level of performance of subordinates. This will result into-
a. Increase in productivity,
b. Reducing cost of operations, and
c. Improving overall efficiency.
3. Leads to achievement of organizational goals
The goals of an enterprise can be achieved only when the following factors
take place :-
a. There is best possible utilization of resources,
b. There is a co-operative work environment,
c. The employees are goal-directed and they act in a purposive manner,
d. Goals can be achieved if co-ordination and co-operation takes place
simultaneously which can be effectively done through motivation.
4. Builds friendly relationship
Incentives provide a spur or zeal in the employees for better performance. It is a natural
thing that nobody acts without a purpose behind. Therefore, a hope for a reward is
a powerful incentive to motivate employees.
Besides monetary incentive, there are some other stimuli which can drive a person
to better. This will include job satisfaction, job security, job promotion, and pride for
accomplishment. Therefore, incentives really can sometimes work to accomplish the
goals of a concern. The need of incentives can be many:-
1. To increase productivity,
2. To drive or arouse a stimulus work,
3. To enhance commitment in work performance,
4. To psychologically satisfy a person which leads to job satisfaction,
5. To shape the behavior or outlook of subordinate towards work,
6. To inculcate zeal and enthusiasm towards work,
7. To get the maximum of their capabilities so that they are exploited and
utilized maximally.
The incentives which cannot be measured in terms of money are under the
category of “Non- monetary incentives”. Whenever a manager has to satisfy
the psychological needs of the subordinates, he makes use of non-financial
incentives. Non- financial incentives can be of the following types:-
Positive Incentives
Positive incentives are those incentives which provide a positive assurance for
fulfilling the needs and wants. Positive incentives generally have an optimistic
attitude behind and they are generally given to satisfy the psychological
requirements of employees. For example-promotion, praise, recognition, perks and
allowances, etc. It is positive by nature.
Negative Incentives
Negative incentives are those whose purpose is to correct the mistakes or defaults
of employees. The purpose is to rectify mistakes in order to get effective results.
Negative incentive is generally resorted to when positive incentive does not works
and a psychological set back has to be given to employees. It is negative by nature.
For example- demotion, transfer, fines, penalties.
1. One of the main reasons of motivation being a challenging job is due to the
changing workforce. The employees become a part of their organization with
various needs and expectations.
Certain firms have chosen to hire and fire and paying for performance
strategies nearly giving up motivational efforts. These strategies are
unsuccessful in making an individual overreach himself.
For instance-the employees who spend extra time at work for meeting their
needs for accomplishment might discover that the extra time spent by them
clash with their social neds and with the need for affiliation.
These theories are building blocks of the contemporary theories developed later.
The working mangers and learned professionals till date use these classical theories
to explain the concept of employee motivation.
1. Physiological needs- These are the basic needs of air, water, food, clothing
and shelter. In other words, physiological needs are the needs for basic
amenities of life.
2. Safety needs- Safety needs include physical, environmental and emotional
safety and protection. For instance- Job security, financial security, protection
from animals, family security, health security, etc.
3. Social needs- Social needs include the need for love, affection, care,
belongingness, and friendship.
4. Esteem needs- Esteem needs are of two types: internal esteem needs (self-
respect, confidence, competence, achievement and freedom) and external
esteem needs (recognition, power, status, attention and admiration).
5. Self-actualization need- This include the urge to become what you are
capable of becoming/what you have the potential to become. It includes the
need for growth and self-contentment. It also includes desire for gaining
more knowledge, social- service, creativity and being aesthetic. The self-
actualization needs are never fully satiable. As an individual grows
psychologically, opportunities keep cropping up to continue growing.
The physiological and the safety needs constituted the lower-order needs. These
lower-order needs are mainly satisfied externally. The social, esteem, and self-
actualization needs constituted the higher-order needs. These higher-order needs
are generally satisfied internally, i.e., within an individual. Thus, we can conclude
that during boom period, the employees lower-order needs are significantly met.
1. Hygiene factors- Hygiene factors are those job factors which are essential
for existence of motivation at workplace. These do not lead to positive
satisfaction for long-term. But if these factors are absent/if these factors are
non-existant at workplace, then they lead to dissatisfaction.
These factors are called satisfiers. These are factors involved in performing
the job. Employees find these factors intrinsically rewarding. The motivators
symbolized the psychological needs that were perceived as an additional
benefit. Motivational factors include:
Assumptions of Theory X
An average employee intrinsically does not like work and tries to escape it
whenever possible.
Since the employee does not want to work, he must be persuaded,
compelled, or warned with punishment so as to achieve organizational goals.
A close supervision is required on part of managers. The managers adopt a
more dictatorial style.
Many employees rank job security on top, and they have little or no
aspiration/ ambition.
Employees generally dislike responsibilities.
Employees resist change.
An average employee needs formal direction.
Assumptions of Theory Y
Employees can perceive their job as relaxing and normal. They exercise their
physical and mental efforts in an inherent manner in their jobs.
Employees may not require only threat, external control and coercion to
work, but they can use self-direction and self-control if they are dedicated
and sincere to achieve the organizational objectives.
If the job is rewarding and satisfying, then it will result in employees’ loyalty
and commitment to organization.
An average employee can learn to admit and recognize the responsibility. In
fact, he can even learn to obtain responsibility.
The employees have skills and capabilities. Their logical capabilities should be
fully utilized.
In other words, the creativity, resourcefulness and innovative potentiality of
the employees can be utilized to solve organizational problems.
Thus, we can say that Theory X presents a pessimistic view of employees’ nature
and behaviour at work, while Theory Y presents an optimistic view of the employees’
nature and behaviour at work.
If we correlate it with Maslow’s theory, we can say that Theory X is based on the
assumption that the employees emphasize on the physiological needs and the
safety needs; while Theory X is based on the assumption that the social needs,
esteem needs and the self-actualization needs dominate the employees.
McGregor views Theory Y to be more valid and reasonable than Theory X. Thus,
he encouraged cordial team relations, responsible and stimulating jobs, and
participation of all in decision-making process.
Theory Y searches and discovers the ways in which an employee can make
significant contributions in an organization. It harmonizes and matches
employees’ needs and aspirations with organizational needs and aspirations.
ERG Theory
McClelland’s Theory of Needs
Goal Setting Theory
Reinforcement Theory
Equity Theory of Motivation
Expectancy Theory of Motivation
Existence needs- These include need for basic material necessities. In short,
it includes an individual’s physiological and physical safety needs.
Relatedness needs- These include the aspiration individual’s have for
maintaining significant interpersonal relationships (be it with family, peers or
superiors), getting public fame and recognition. Maslow’s social needs and
external component of esteem needs fall under this class of need.
Growth needs- These include need for self-development and personal
growth and advancement. Maslow’s self-actualization needs and intrinsic
component of esteem needs fall under this category of need.
The significance of the three classes of needs may vary for each individual.
Difference between Maslow Need Hierarchy Theory and Alderfer’s ERG Theory
ERG Theory states that at a given point of time, more than one need may be
operational.
ERG Theory also shows that if the fulfillment of a higher-level need is
subdued, there is an increase in desire for satisfying a lower-level need.
According to Maslow, an individual remains at a particular need level until
that need is satisfied.
While Maslow’s need hierarchy theory is rigid as it assumes that the needs
follow a specific and orderly hierarchy and unless a lower-level need is
satisfied, an individual cannot proceed to the higher-level need; ERG Theory
of motivation is very flexible as he perceived the needs as a range/variety
rather than perceiving them as a hierarchy.
Managers must understand that an employee has various needs that must be
satisfied at the same time.
According to the ERG theory, if the manager concentrates solely on one need at a
time, this will not effectively motivate the employee. Also, the frustration-regression
aspect of ERG Theory has an added effect on workplace motivation.
Need for power is the desire to influence other individual’s behaviour as per your
wish. In other words, it is the desire to have control over others and to be
influential.
Need for affiliation is a need for open and sociable interpersonal relationships. In
other words, it is a desire for relationship based on co-operation and mutual
understanding.
Individuals who are better and above average performers are highly
motivated. They assume responsibility for solving the problems at
work. McClelland called such individuals as gamblers as they set
challenging targets for themselves and they take deliberate risk to achieve
those set targets.
Such individuals look for innovative ways of performing job. They perceive
achievement of goals as a reward, and value it more than a financial reward.
Such individuals are motivated by the need for reputation and self-esteem.
Individuals with greater power and authority will perform better than those
possessing less power.
Generally, managers with high need for power turn out to be more
efficient and successful managers. They are more determined and loyal to
the organization they work for.
Need for power should not always be taken negatively. It can be viewed as
the need to have a positive effect on the organization and to support the
organization in achieving it’s goals.
3. The individuals who are motivated by affiliation have an urge for a friendly
and supportive environment. Such individuals are effective performers in a
team. These people want to be liked by others.
Such people have a need to be on the good books of all. They generally
cannot be good leaders
This theory states that goal setting is essentially linked to task performance.
It states that specific and challenging goals along with appropriate feedback
contribute to higher and better task performance.
In simple words, goals indicate and give direction to an employee about what
needs to be done and how much efforts are required to be put in.
The more challenging the goal, the greater is the reward generally and the
more is the passion for achieving it.
This theory is a strong tool for analyzing controlling mechanism for individual’s
behaviour. However, it does not focus on the causes of individual’s behaviour.
The managers use the following methods for controlling the behaviour of the
employees:
Reward is a positive reinforce, but not necessarily. If and only if the employees’
behaviour improves, reward can said to be a positive reinforcer. Positive
reinforcement stimulates occurrence of a behaviour. It must be noted that more
spontaneous is the giving of reward, the greater reinforcement value it has.
For instance - if an employee no longer receives praise and admiration for his
good work, he may feel that his behaviour is generating no fruitful consequence.
Extinction may unintentionally lower desirable behaviour.
Higher is individual’s perception of fairness, greater is the motivation level and vice
versa. While evaluating fairness, employee compares the job input (in terms of
contribution) to outcome (in terms of compensation) and also compares the same
with that of another peer of equal cadre/category. D/I ratio (output-input ratio) is
used to make such a comparison.
EQUITY THEORY
Ratio Perception
Comparison
Negative Tension state: Equity is perceived when this ratio is equal. While if this
ratio is unequal, it leads to “equity tension”. J.Stacy Adams called this a negative
tension state which motivates him to do something right to relieve this tension. A
comparison has been made between 2 workers A and B to understand this point.
Referents: The four comparisons an employee can make have been termed as
“referents” according to Goodman. The referent chosen is a significant variable in
equity theory. These referents are as follows:
An employee might compare himself with his peer within the present job in the
current organization or with his friend/peer working in some other organization or
with the past jobs held by him with others. An employee’s choice of the referent will
be influenced by the appeal of the referent and the employee’s knowledge about
the referent.
Moderating Variables: The gender, salary, education and the experience level are
moderating variables. Individuals with greater and higher education are more
informed. Thus, they are likely to compare themselves with the outsiders.
Males and females prefer same sex comparison. It has been observed that females
are paid typically less than males in comparable jobs and have less salary
expectations than male for the same work. Thus, a women employee that uses
another women employee as a referent tends to lead to a lower comparative
standard.
Employees with greater experience know their organization very well and compare
themselves with their own colleagues, while employees with less experience rely on
their personal experiences and knowledge for making comparisons.
Choices: The employees who perceive inequity and are under negative tension can
make the following choices:
Change self perception (For instance - I know that I’ve performed better and
harder than everyone else.)
The theory demonstrates that the individuals are concerned both with their
own rewards and also with what others get in their comparison.
Employees expect a fair and equitable return for their contribution to their
jobs.
Employees decide what their equitable return should be after comparing
their inputs and outcomes with those of their colleagues.
Employees who perceive themselves as being in an inequitable scenario will
attempt to reduce the inequity either by distorting inputs and/or outcomes
psychologically, by directly altering inputs and/or outputs, or by quitting the
organization.
The theory states that the intensity of a tendency to perform in a particular manner is
dependent on the intensity of an expectation that the performance will be followed
by a definite outcome and on the appeal of the outcome to the individual.
Vroom was of view that employees consciously decide whether to perform or not at
the job. This decision solely depended on the employee’s motivation level which in
turn depends on three factors of expectancy, valence and instrumentality.
Communication
Lisa works as a Brand Executive with a reputed multinational firm. She was asked to
deliver a presentation on her assignments and achievements. Her appraisal was
due that month, and she did not get her promotion. No points for guessing, her
presentation played the culprit. Her thoughts were not at all clear and she could not
express her views in front of her boss and the top management.
Understanding Communication
A famous quote says - “The way we communicate with others and with
ourselves ultimately determines the quality of our lives”
The process of passing any information from one person to the other person with
the aid of some medium is termed as communication.
The first party who sends the information is called the sender and the second party
who receives the information, decodes the information and accordingly responds is
called the receiver or the recipient. Thus in simpler terms communication is
simply a process where the sender sends the information to the receiver for him to
respond.
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Sender Receiver
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Information
Joe might have an unparalleled, incomparable concept or an idea with him but he
would never get the credit if he merely keeps it within himself. He has to pass on the
idea to his fellow workers. He has to communicate. Not only communicate but also
effectively communicate.
In an organization, your boss will never give you your share of credit, unless and
until you present your work in a well defined manner. How will one present his/her
work- by communication.
Parents will never understand that their child is hurt unless and until, the child cries
or shows his wounds. What is crying? A form of communication. What does showing
of wounds mean-The child wants to communicate to his parents that he needs to be
immediately attended by the doctor.
Mike preferred pasta to pizza and once during the Christmas party, he made his
point clear and pasta was ordered only for Mike as Jenny, Christina and Tony were
all pizza lovers. Mike did nothing but simply communicated and passed on his
desire to his gang, here Mike being the sender and the others receiver.
Verbal communication
The tone of the speaker, the pitch and the quality of words play a crucial role in
verbal communication. The speaker has to be loud and clear and the content has to
be properly defined. Haphazard and unorganized thoughts only lead to confusions
and misunderstandings among individuals. In verbal communication, an individual
must understand the importance of words and how to put them across.
While speaking the pitch ought to be high and clear for everyone to understand and
the content must be designed keeping the target audience in mind. In verbal
communication it is the responsibility of the sender to cross check with the receiver
whether he has downloaded the correct information or not and the sender must
give the required response.
Imagine yourself in a situation, where you can’t speak but have to communicate an
urgent information to the other person or for that matter, you are sitting in an
important meeting and you want to express your displeasure or pleasure to your
colleague without uttering even a word. Here non verbal mode of communication
comes into picture. Facial expressions, gestures, hand and hair movements, body
postures all constitute non verbal communication.
Any communication made between two people without words and simply through
facial movements, gestures or hand movements is called as non verbal
communication.
Visual Communication
Before planning any outing or tour, Sandra always refers to the map of that place.
Through the map, she tries to find out more about the place, the route to reach that
place, hotels, shopping joints etc. The map is actually passing information about the
place to Sandra or communicating with Sandra. This mode of communication is
called visual communication.
As, in the previous section we have discussed the major barriers of communication.
Let’s talk about how to overcome these barriers of communication.
1. Eliminating differences in perception: The organization should ensure that
it is recruiting right individuals on the job. It’s the responsibility of the
interviewer to ensure that the interviewee has command over the written
and spoken language.
The message is reinforced by using different channels and there are less
chances of deformation of message.
1. While managers lay down the structure and delegates authority and
responsibility, leaders provides direction by developing the organizational
vision and communicating it to the employees and inspiring them to achieve
it.
2. While management includes focus on planning, organizing, staffing, directing
and controlling; leadership is mainly a part of directing function of
management. Leaders focus on listening, building relationships, teamwork,
inspiring, motivating and persuading the followers.
3. While a leader gets his authority from his followers, a manager gets his
authority by virtue of his position in the organization.
4. While managers follow the organization’s policies and procedure, the leaders
follow their own instinct.
5. Management is more of science as the managers are exact, planned,
standard, logical and more of mind.
Leadership sees and evaluates individuals as having potential for things that
can’t be measured, i.e., it deals with future and the performance of people if
their potential is fully extracted.
The organizations which are over managed and under-led do not perform upto the
benchmark.
Your goal.
Your main point(s) to get across.
The different ways you’re going to illustrate them for your audience.
Breaking things down into small tasks will help you remain focused on this plan
while being methodical in your research, and avoiding any scope creep.
5. Be Persuasive
One of the primary goals of effective communication is to remain persuasive. Of
course, people are persuaded in different ways. Using relevant facts to back up
your main argument is a great way to appeal to many people.
However, it’s even more important to appeal to your audience’s emotional side, as
research shows that our emotional brain processes information much faster than the
logical side of our brain. In other words, using images or telling stories that bring
happiness, hope, or humor can greatly impact how you communicate with your
audience.
6. Be Clear
Writing concise sentences is essential to keeping things clear. On the other hand,
writing large blocks of text with lengthy sentences is one of the quickest ways to
lose the attention of your audience.
Replacing longer phrases with shorter ones, making things simple, and keeping
most of your sentences below 30 words are all key aspects of communication.
Usually, this entire process goes through a few rounds of editing to eliminate
unnecessary content and improve readability.
7. Visuals Are Important
Variety can often go a long way while communicating with an audience. People
can comprehend new information in numerous ways, but the vast majority are
primarily visual people. In fact, people can understand visual data in as little as 13
milliseconds.
Understanding how to use compelling visuals is a great way to draw in your
audience, and you can use text to further demonstrate your point. Visuals are also a
fantastic way to appeal to the emotional side of your audience.
8. Use Stories
Another way to connect with your audience and communicate your ideas is with
powerful stories. People are natural storytellers and listeners. This inborn trait
stretches across cultures and is especially evident with how kids are so quickly
drawn to storybooks.
Stories are great ways to make ideas more tangible to people and can also
humanize what you’re communicating. Stories are also more likely to be
remembered than the other elements of what you communicate due to them
appealing to your audience’s more emotional side. So, if you really want people to
understand and remember your point, add in a story that illustrates it.
9. Less Is More
Your audience is likely busy. So don’t waste your (or their) time with irrelevant
tidbits, repeated information, or details that don’t help you with your main
communication goal. It will lead to disengagement, less information being
retained, and take away from the effectiveness of your efforts. When in doubt, err
on the side of clarity.
10. Be Curious
Finally, resolve to always be learning. While some things remain the same, the
world of communication is constantly evolving. Continue to read, talk to mentors,
and never assume you know everything when it comes to good communication.
For your individual efforts, test different formats and styles to see what works best
when connecting with your unique audience, and always be open to feedback.
Good Communication is Effective Communication
Communication is the cornerstone of our profession. These principles of
communication will help you focus your thoughts, whether you are selling a
product, trying to convince a group to act, or getting your team aligned to reach
specific goals.
Commmunicator as a Leader
Communication Styles
Four types of communication styles include passive communication, aggressive
communication, passive-aggressive communication and assertive communication.
Meg Palmer
Communication allows us to express our thoughts, share information and connect with other
people. From sending a quick text to chatting with a friend over coffee, you are interacting
with the people around you all the time. Whether it's verbal or nonverbal, communication
makes up a big part of your life.
But who we are also shapes how we communicate. Just like no two people are exactly the
same, everyone has their own unique communication style. Knowing what these styles look
like — and how to identify them — can help you better communicate and work with other
people.
According to LaFave and other business leaders, communication can be categorized into
four main styles:
1. Passive Communication often looks like not communicating at all for fear of
speaking up. This can lead to misunderstandings.
2. Aggressive Communication tends to be driven by anger and judgment and can also
result in inflexibility. This can create a hostile environment.
3. Passive-Aggressive Communication might mean you don’t directly communicate
your feelings, but you hold on to negative emotions and let those affect your actions.
This can cause confusion and resentment.
4. Assertive Communication is confident but also respectful of others' thoughts and
feelings. Assertive communication creates space for honest conversations and
promotes healthy connections between individuals.
"These four types are pretty good at capturing styles of communication," said LaFave, who
teaches classes such as interpersonal communication and communication theory, where these
styles come into play. "However, it is important to consider the contexts, the relationships
and the purposes of interactions when identifying these styles," she said.
According to LaFave, you may feel as though you align with one of these communication
styles, or you might feel like you use a mix of all four. For example, a person may adopt a
more assertive communication style in a professional setting but switch to a more passive
style when talking with family or close friends. "Style fluidity is a useful strategy for anyone
who is looking to become a competent communicator," said LaFave.
With over 30 years of teaching experience and 20 years working in broadcasting, Owston
points to some key factors that he has seen impact how someone communicates, including:
These additional factors can explain why someone communicates the way they do. But they
can also explain how other people interpret those messages.
For example, being an assertive communicator is often seen as a good thing. An assertive
communicator is direct with their message while still being respectful of others' thoughts and
feelings.
"In some instances (though)," LaFave said, "assertiveness can come across as aggression,
which could have negative impacts on the person who is asserting themselves."
LaFave points to gender as one outside factor that can negatively affect how communication
is interpreted. While assertiveness may be praised in men, "women are more likely to be seen
as aggressive when they assert themselves," she said. It's important to think about how your
communication style comes across and what factors may affect how you view someone else's
style, too.
Control Or Controlling
1. It facilitates co-ordination
2. It helps in planning
Once the deviation is identified, a manager has to think about various cause
which has led to deviation. The causes can be-
a. Erroneous planning,
b. Co-ordination loosens,
c. Implementation of plans is defective, and
d. Supervision and communication is ineffective, etc.
4. Taking remedial actions- Once the causes and extent of deviations are
known, the manager has to detect those errors and take remedial measures
for it. There are two alternatives here-
a. Taking corrective measures for deviations which have occurred; and
b. After taking the corrective measures, if the actual performance is not
in conformity with plans, the manager can revise the targets. It is here
the controlling process comes to an end. Follow up is an important
step because it is only through taking corrective measures, a manager
can exercise controlling.
Tools Of Management
n order to ensure standard performance, technical tools are required. To accomplish goals, it
maintains proper control over each employee's activity and each organizational unit. Several
of the methods include:
Personal Control: Controlling the actions through oversight of deputies and close
observation is important. Through this, supervisors may see firsthand how employees
perform and behave. Technical managers are familiar with the status and issues
relating to all organizational activities. These kinds of controls are appropriate for
small organizations with few activities.
Bureaucratic control: The Bureaucratic Theory of Management by Max Weber is
the foundation of this strategy. "Management structure should be built in a
hierarchical system and division on the basis of specialization," said Max Weber. To
maintain control over the actions of subordinates, a formal system of written rules and
procedures must be in place. This method is appropriate for a sizable company with a
vertical organizational structure.
Output control: Units of output produced by each person and department are
specified for a set amount of time under this output control. The responsibilities and
position they play inside an organization determine all of the organizational goals. By
evaluating their real production, managers are able to keep a tight grip on their
employees' actions.
Culture control: Culture control systems lessen the need for bureaucratic and
individual control. The department's whole workforce adheres to the organization's
principles and standards and behaves consistently, which contributes to the
environment of restraint that is maintained there.
Central through incentives: Gifts or rewards given to employees as incentives to
practice self-control in their work are known as incentives. Employee skill levels and
the organization's business scope should be taken into consideration when awarding
incentives. Employees are encouraged to carry out their tasks energetically and
correctly as a result of these. It could be either financial or not. Non-financial
incentives include a suitable working environment, transportation facilities, an
appropriate division of labor, etc. Financial incentives include fair compensation,
bonuses, shares of profit, allowances, etc.
Market Controls: The goal of market control techniques is to manage individual
organizational units' behavior. Such methods are used by businesses with diversified
product lines. When the head office functions as an internal investment bank to boost
the effectiveness of their units, divisional managers execute activities with the money
they create as belonging to the office.
Recent Trends In Management:-
Overview of Management Trends
The trend allows organisations to take a proactive approach towards solving problems
and making decisions. Companies can release untapped potential by empowering
employees to think like entrepreneurs as they create an organisational culture which
supports creativity and agility.
Sustainability has moved from being just a corporate buzzword into one of the
fundamental features of business strategy. With increasing environmental concerns,
there are mounting pressures on organisations regarding the adoption of sustainable
practices throughout all their operations.
The importance of this change lies in how it can drive positive social change while
improving long-term business prospects at the same time. Other than cutting costs,
mitigating risks and enhancing brand reputation, companies must incorporate
sustainability into their mainline business strategies.
Students who choose this specialisation area, open up themselves to various career
paths across different sectors. By understanding sustainability issues such as
environmental management or CSR (corporate social responsibility), students with
sustainability knowledge could become important contributors towards more
sustainable organisations.
This shift helps create a new age of leaders capable of navigating complexity and
driving organisational success in a globally connected world. Leadership development
initiatives help companies to develop cultures of innovation, engagement and
adaptability.
Companies like Google or Zappos have already accepted this trend with many
successful illustrations from the real world. Their creativity and productivity increased
as they created environments where their employees felt safe enough for them to take
risks.
This trend provides both opportunities and threats for organisations. However, while
there is an increasing complexity as well as scale in terms of risks, technology
advancements along with data analytics bring forth new ways of identifying,
evaluating and mitigating risks.
For students today who have an eye on business risk environments filled with
uncertainties, it is important to learn about risk management. Students can assist
organisations in anticipating potential threats by being able to assess risk properly
hence protecting their interests and thereby protecting value by learning the
techniques used for assessing risks correctly.
This trend is significant because it has the potential to create a sustainable competitive
advantage by relentlessly pursuing quality and excellence. This enables companies to
improve processes, reduce wastage and exceed customer expectations.
Students who want to thrive in today’s competitive job market can gain a lot from
understanding and practising TQM principles. Whether in manufacturing, services or
consulting careers knowing how to apply TQM methods will help students acquire the
competencies which they need for future enhancement through sustained
improvements.
Conclusion
In conclusion, staying ahead of the latest management trends is important for anyone
wishing to excel in today’s fast-paced world of business. These include adopting total
quality management principles among others such as embracing innovation strategies
on risk management practices fostering entrepreneurship, nurturing leadership
development and prioritising sustainability or integrating knowledge-based strategic
management (KSM) therefore being updated with them is critical for success.
Management journey awaits you students. Be curious! Learn about new developments
in this field with great enthusiasm. They shape the current business landscape while at
the same time providing possible areas of growth and innovation.
Constantly seeking knowledge and being up-to-date with what is happening now will
help you understand more about your subject areas and also give you an insight into
how complex the modern-day business environment can be. Therefore may this be an
encouragement unto all of you: keep exploring, and keep learning till you reach
mastery in your pursuit of knowledge that leads to excellence in managing things.