A Custom Essay on ‘Management in 2010’

This is a custom written essay on Management in 2010. The essay can be one of the best among custom essay writing services. You can comment on the quality of custom writing Management existed from the very ancient times. But management as a field of study is comparatively new. Management is multidisciplinary in nature. It is based on theories developed in various other disciplines like Sociology, Political Science, Economics, and Science Charles Babbage, Fayol, Taylor, Gilbreth, Max Weber, and many more had contributed in the development of management as a field of study. Now we have entered in to the new millennium in which everything is moving fast. Speed is a buzzword. Many Superstar Companies of the yesteryears find themselves stanching and frustrated in unmanageable crisis. Today, there are many new management tools and techniques viz., Downsizing, Total Quality Management, Outsourcing, Economic Value Analysis, Reengineering, Total Productive Maintenance, TQE, Benchmarking etc. Each one of them is powerful. These tools are designed primarily to do differently what is always being done. All these are how to do tools. Yet what to do is increasingly becoming the major challenge of the management in this decade. We live in a world of profound transition and the change more radical than that what we saw in the 20th century. The emergence of knowledge as the management key resource will certainly necessitate radically new management theories and practices in future. Information Revolution rnA new revolution is under way. Although it has started in business enterprises with business information, but it will engulf all institutions of society in the next decade. There will be great revolution in technology machinery, techniques, software and speed. There will be tremendous change in information technology, and Management Information System (MIS). In the next decade it will not be led by the information officers, but by the "people". rnSo far, for the top management IT has been a producer of data than a producer of information. Computer and IT has practically no impact on the decisions whether or not to build a new office, hospital or which market to enter with which products. But in 2010 Computer, IT, and Information Management will play an important role and will have a strong impact on decisions. Knowledge Worker The next decade will be of Knowledge workers. Fredrick Winslow Taylor (1856-1915) was the first man who explained about the manual worker and manual work. Karl Marx (1818-1883) had described it quite emphatically. Later many studies had been conducted (e.g., Hawthorne experiments, 1920-1926) to study the decrease in productivity of these manual workers. Over the 100 years there have been countless changes, revisions and refinements. Methodology changed over the century. Taylor himself called his method "Task Analysis" or "Task Management"; two decades later it was redefined as "scientific management." Another two decades, it came to be known as "Industrial Engineering" or "Rationalization". The future challenge would be to make knowledge workers productive. Above all it is on their productivity that the prosperity and indeed the survival of the organization will depend. Managing People With the rapid changes in technology, and global competition, the success of any organizations has become progressively more dependent on their ability to bring new and innovative products and services in the market. Innovation, largely depends on the creativity of the employees. It is argued that organizations should consider multiple interventions that take into account the individual, the group, the organization, and the strategic environment when selecting interventions intended to enhance creativity. Although management practices can enhance the likelihood of innovation, but ultimately, it is the individual (employee) who is the source of a new idea. Thus, to identify effective human resource practices, we must have some understanding of the requirements for creative thought as well as the characteristic work styles of creative people. Change Leaders In such a rapidly changing scenario, the organizationwhether business, university or hospital will not survive unless they become the change leaders. Therefore, in the next decade the challenge for management is to make organizations a change leader. Only change leaders will accept change as opportunity. It will require policies to make the present create the future. In 2010 ideas will become more important than assets. Asset-intensive companies will no longer head the list of most valuable companies. The future growing part of the global economy will be the knowledge-intensive service industries rather than the present big manufacturing industries. There is a gap existing between the rhetoric of knowledge management and how knowledge is actually managed in organizations. Companies have to build a social environment within which people operate, which will be a crucial requirement for effective knowledge management. Human Resource and IT will certainly play a central role in knowledge management. IT will be the only viable means to connect efficiently large number of geographically dispersed people. rnIn 2010 there will be great demand for highly developed human capital. This will require systematic and substantial investment in the development of employee skills and knowledge. Firms will build portfolio of skills in the employee base. To develop firms' human capital, a process of continuous learning will be required. For an organization to take till the advantage of the new knowledge created, the knowledge must be organized.