The Revolution of Management

Management Revolution

Management is undergoing a revolution in search of perfection, which has not occurred as a result of an orderly evolutionary process. Globalization, intense rivalry in the industrial and labor markets, economic recession, and the influence of technological innovation are among the catalysts driving the revolution. As a result, firms are restructuring and downsizing in order to decrease operational costs and maximize efficiency through the use of new technology. For example, technology has transformed the way managerial operations are carried out, resulting in widespread unemployment in the United States and other industrialized countries. This is due to the outsourcing of procedures to countries with cheap labor costs, such as India. Revolution of management is also happening as firms pursue to redirect operations back in time and optimize on the primary business pillars (Claudia, 2016). These business pillars include diversity, knowledge management by sharing information through virtual communities, and to emphasize on the structural and cultural elements that acts as drivers to attainment of a firm’s goals and objectives. It’s only firms that acknowledge digital revolution in carrying out management practices that are to survive in the global market. Without profitability, it’s impossible to sustain a firm’s operations in the market. It’s therefore critical for firms to revise management structures by incorporating technology in the planning, coordinating, and organizing functions.

Impact of Globalization on Management

For example, the human resource management is under pressure to adopt labor diversity in terms of skills and cultural backgrounds due to the globalization strategies being undertaken by firms. Standardization of products and services is rapidly losing its value as consumers seek customized products. With this in mind, managers are seeking a diverse workforce to bring in different knowledge and creativity for attainment of a competitive edge in the local markets.

The Role of Management in Business

Management is the foundation of any business enterprise. Managers oversee planning of strategies that support a firm’s mission and mission, recruit labor force needed in the implementation of strategies, manage resources, and execute implementation of the activities (Andrew, 2013). However, in today’s competitive environment, it’s critical for managers to apply innovative strategies to promote the realization of a competitive advantage. Innovation leads to production of new products and services, new processes, culture, and generally the way of doing things. An innovative management enables a firm to easily adopt to changes brought about by technology and market. It’s because of its innovative management that Apple took over firms that were once in the limelight such as Nokia and Microsoft. The company’s management focuses on creation of new products by engaging a diverse workforce.

The Role of Human Resource Managers

Human resource managers assist the employer by recruiting a diverse workforce. A diverse workforce comprises of employees from different cultural backgrounds, skill sets, and knowledge base. A combination of different skills and opinions fosters knowledge sharing which leads to creativity with the result being innovation. Another way HRM managers help is by designing programs such as the reward system and training and development programs that act as motivators to increase creativity and productivity.

Encouraging Innovation through Employee Participation

Another way human resource managers can encourage innovation is promote participation by giving employees the opportunity of getting involved in decision making, and encouraging opinions not intimidating or criticizing. Human resource managers should understand the diversity of their employees and utilize the strengths of each of them for optimal creativity.

Technology in the Market Environment

Technology play a critical role in today’s market environment. It’s therefore expected for managers to revise their business models and organizational structure to ensure that they remain competitive in the market.

References

Andrew, H. (2013). The Management Revolution. Retrieved on March 24, 2017 from https://www.ft.com/content/25def0a6-d352-11e2-b3ff-00144feab7de

Claudia, I. (2016). Employee Performance Management is Undergoing a Revolution. Retrieved on March 24, 2017 from https://www.linkedin.com/pulse/employee-performance-management-undergoing-revolution-mba-c-pr