One of the grimmest predictions about the future was described by Robert Putnam in his work on social capital. He envisaged low likelihood of participation in community life, smaller groups of friends, even less happiness, and lower perceived quality of life. Furthermore, the enthusiasts of globalization and internet predicted that since people do not have to be together in order to work together, so simply they will not be. Both of these statements are deemed fallacious when recent innovative developments like coworking spaces are considered. Instead of dividing people and further rupturing community life, they reintroduce collaboration and community building through establishing an innovative office design that is being implemented worldwide. Coworking has been present for centuries, but the first forms of collaboration appeared in the beginning of the 20th century. Artists from around the world gathered in Paris to live and work. One of the establishments, La Ruche, was Continue reading
Modern Management Concepts
Mind Mapping – A Tool For Visually Organize Your Thoughts
Mind mapping is a very old technique which has been used for centuries for brainstorming, visual thinking and problem solving in all subject areas. Some of the earliest examples date back to the 3rd century where these techniques have been used by the famous Greek philosopher Aristotle. A mind map is a powerful graphic technique which provides a universal key to unlock the potential of the brain. It harnesses the full range of cortical skills – word, image, number, logic, rhythm, colour and spatial awareness – in a single, uniquely powerful manner. In so doing, it gives you the freedom to roam the infinite expanses of your brain. Mind mapping was further developed by Tony Buzan following his research into note-taking techniques in the late 1960s. Mind maps are a type of diagram used to visually display information in a relational way. Typically they start with a central idea, denoted Continue reading
New Trends In E-Business
E-business changed the way business was being done over the years. It created more and more avenues and opportunities. E-business changed the competitive platform. While the old competitive barriers are diminishing it created new entry and competitive barriers. The hard competitive barriers are becoming weak while the soft competitive barriers became more and more prominent. It is believed that not even 50% of the potential of e-business is to be unleashed yet. This definitely indicates that e-business has lot more to offer. E-business has appealed the businesses and customers from all segments. E-business increased the connectivity among different businesses. The integration among departments, different businesses, and different sectors through e-business made it possible to offer variety of services to customers. The new technologies, high speed internet made the transactions possible. Improved integration and interoperability needs of next generation e-business systems are met by new e-business solution architectures. New technologies of Continue reading
Effectuation – New Paradigm of Entrepreneurship
The business world is permeated through and through this kind of rationality, based on what we see is happening today in the world, what are the trends? what will be the consequences? are forecasted the solutions in a business environment. However, according to Saras Sarasvathy, it is not how entrepreneurs think. The thought process is not “causal” but “effectual”. When a project is approached, the entrepreneur has three means skills: his own innate abilities, skills acquired through education and personal contacts. The entrepreneur is guided by a simple maxim: “To what extent can we control the future, we do not need to predict it.” Here lies all the difference. According to Sarasvathy, the successful entrepreneur does not try to predict what will be the most profitable markets, very opposite idea to Henry Mintzberg. In 1997 Saras Sarasvathy, professor of business and ethics at the University of Virginia but then a Continue reading
Organizational Success through Creativity and Innovation
Creativity and innovation are generally understood as routine drivers of successful organizational growth. Organizations are facing enormous pressure to innovate in order to attain competitive advantage from the global environment that is increasingly becoming intricate and competitive. Due to this, organizational management has to inculcate or reinforce culture of creativity and innovation within organization; however, much of the focus in this endeavor is on the individual level but team work is also essentially encouraged. Individuals are of vital importance in creativity and the innovation process requires a supportive well-managed atmosphere that can translate novel ideas into innovative product effectively. Generally the two concepts are diverse as creativity can be production of new ideas and concepts, which are applied through a process, which then becomes innovation. This states that any innovation is a process that is based on the creativity of mind(s) and creativity is reliant on innovation to become tangible. Continue reading
Emotional Intelligence is more Important than Cognitive Intelligence
In real workplaces, people have to learn how to work in a group but the first thing that the individual should learn is how to control their emotions. Emotion is an influential factor in teamwork, cooperation and in the process of helping people. As workers perform their work within a good cooperation, they can build up the reputation of a corporate beside the ethical behavior of themselves. Normally individuals contribute necessary energy for organizational emotional intelligence. Sometimes, there will be a conflict among team member and this may slow down the process of work. If all individuals in the group can each control their emotion, this situation will not happen. That is why emotional intelligence is very important than cognitive intelligence. Individual that can manage their emotion well are categories as a high emotional intelligence’s people. Individuals with high emotional intelligence level are more likely to attend the daily work Continue reading