Emerging horizons of management in the changing environment
BY Arvind Kumar andPranav Kumar Ojha MBA 1st SemesterMONIRBA , University of Allahabad
HORIZONS- mean a line at whichthe earth and the sun appear tomeet just imminent or apparent
Why to study?• Uncertainty of environment• Competitive edge.• Better services to consumers.
Points to be Covered under the topic,“Emerging horizons of management in the changing environment” Developments in the Field of Management Horizons Contemporary Management Theory Contemporary Management Challenges Challenge of International Management Focus of Attention For Future Managers Challenges in The Management Arena Issues involved in Future Management Skills required in Future Managers
Horizons• Transnational management system• Technology• Organization and natural environment• Cultures and multiculturalism• Inventing and reinventing organizations• Rural management• Management of increased urban generation
THE TRANSNATIONAL MANAGEMENT SYSTEMOne of the most significant business and economic trendsis the transnational management system of the statelesscorporationsWe can say that the trend towards “stateless” isunmistakable and irreversible because it helps solve thefollowing problemsTrade problemsPolitical problemsRegulatory problemsTechnology related problems
Technology• Emerging technology are those technical innovations which represent progressive developments with in a field for competitive advantages• E- Commerce• Mobile Banking• RFID
Organizational and natural environment• HAWKEN proposes a set of GREEN FEES to replace all of the taxes that we currently have.• MANAGERS in the next century will undergo a GREEN REVOLUTION taking the ENVIRONMENT into account in their DECISION MAKING on a routine basis.• These GREEN TAXES can be used to make our society better and turn the GLOBAL ECONOMY into a GREEN ECONOMY.
Cultures and multiculturalism• Making a strength of DIVERSITY will be the necessity for the successful managers operating in the next century.• Managers have to think differently about the complex mosaic of cultures.
Inventing and reinventing organizations• Reengineering involves redefining processes as patterns of relationships connecting organizational members with people outside the organizations.• SPEED,QUALITY OF SERVICE,OVERHEAD COSTS are the important competitive issues that reengineering can address.
Risk managementIn risk management, aprioritization processis followed wherebythe risks with thegreatest loss and thegreatest probability ofoccurring are handledfirst, and risks withlower probability ofoccurrence and lowerloss are handled indescending order.
em ent ma nag C risis often t e men ocus on anag ng f m t ro cove r eCrisis ludes s ions to r public inc c relat o i e t ssure publ damag d a very any e a n t re c o e g ima holders ay. tha Thre o e stak underw comm risis on t : is ts are s of c the ele men efinition to st d threat (b) the mo a d (c ) n (a) a tion, rprise, a ganiz t of su time. or en n e lem t decisio r a sho
It includes forecasting potential crisis and planning how to deal with them. For example, how to recover if your computer system completely fails. Hopefully, organizations have time and resources to complete a crisis management plan before they convert in stress.
Knowledge management Knowledge Management programs are typically tied to organizational objectives such as improved performance, competitive advantage, innovation, developmental processes. From management point of view , knowledge workers are those individuals whose jobs are designed around the acquisition and application of information .
• Security management is a broad field of management related to:• Assets management,• Human resource safety function.• It is the set of functions that protects telecommunications networks and systems from unauthorized access by persons
Newer organizational design and challengesTwo newer organizational designs that have emerged recently are : Virtual organization Boundaryless organizationChallenges in organizationAre:Managing workforceDiversity,Providing effectiveLeadership
Virtual organization Network of independent institutions, businesses or specialized individuals, who work together in a spontaneous fashion by way of information and communication technology, in order to gain a competitive edge. They integrate, unify their core-competencies and function as one organization
Boundary lessorganization A structure that is not defined by or limited to Horizontal Vertical External boundaries
INCREASING QUALITY CONSCIOUSNESSIt has generated the adoption of following practices:(1)emphasis on total quality management (TQM)(2)moving towards six sigma
Emphasis on TQMIt can be defined as “ a philosophy of management driven by continual improvement and responding to customer needs and expectations.”Total quality is called total because it consists of two qualities: quality of return to satisfy the needs of the shareholders, and quality of products.Features of TQM:Intense focus on customerConcern for continual improvementProcess- focusedImprovement in the quality of every thing the organization does.
Theory z-• American style of Management (Type A)• Japanese style of Management(Type B) Excellence Movement Theory-• Getting things done on Time• Staying Close to The Customer• Promoting Autonomy And Entrepreneurship• Maximizing Productivity through People• Using A Hands on Approach to Managing• Doing What The Company Knows Best• Maintaining A simple, lean, Organizational Structure• Promoting both Centralization and Decentralization simultaneous
• Globalization• Ownership• Environment• Strategy Formulation• Ethics and Social Responsibility• Workforce Diversity• Change• Empowerment• Information Technology
Globalization and management• Management in 2000 and beyond will view globalization in all its aspects:• Speed• Proximity• attitude
• Political stability.• Incentives(reduced interest on loans, tax subsidies, market protection etc.) to attract foreign business.• Reduced international trade barriers imposed on international trade( in the form of tariffs, quotas, export restraint agreement and by-national laws).
• Value systems• The social and Ethical beliefs• Understanding and interpretation of various symbols and different languages spoken by people of different cultures
Development of organizational structures- 1. The ever-changing environment 2. Its increasing size and complexities 3. The changing needs of its employees 4. Multiple goals to be mutually satisfied rather than satisfying a single goal
Increased emphasis on human behaviors-o Job analysiso Transaction analysiso Management by Objectiveso Management by exceptionIncreased attention on Management of change
Qualities of the future managers He, besides being a specialist in his area of specialization, must also posses requisite knowledge about other areas of management. Without emphasizing on a single goal, he must maintain a balance among the multiple organizational goals keeping in the mind the impact of the various environmental changes. Various managerial skills should be possessed by managers at all levels Manager’s vision should be clear, he must be able to absorb future information, distribute it throughout the organization , make and implement the decisions based on this information.
a• According to Adrien Furnham,a professor of Psychology at the University college of London, “ Good managers in the 21st century should understand conditions and human needs.”• They should realize that frequently the heart rules the head and should know what this means for an organization.
References MANAGEMENT BY STEPHEN P. ROBBINS, MARY COULTER AND NEHARIKA VOHARA MANAGEMENT BY WEIHRICH,CANNICE AND KOONTZ MANAGEMENT BY STONER MANAGEMENT BY JAMES A. F. STONER AND CHARLES WANKEL; THIRD EDITION SIX SIGMA PROJECT MANAGEMENT BY JEFFREY N. LOWENTHAL MANAGEMENT BY R.W. GRIFFIN, FIFTH EDITION PRINCIPLES OF MANAGEMENT BY DR. NEERU VASISHTH WIKIPEDIA GOOGLE