An individual, an organization, a government, or the global economy at any point of time may face debacles. This may come in any form and can devastate the present circumstances and can lead to difficult situations. Such occurrences are often termed as crisis. It is therefore defined as a major, unpredictable and upsetting event that intimidates to harm. Even though crisis is an unpredictable form of event, but it is not unanticipated. Crisis is a threat to organizations, an unexpected element and short periods of risk. For an organization, crisis can be illustrated as an anomalous and uncharacteristic situation or perception, which is beyond the control of an organization and also threatens to impact their operation. A company has to deal with different forms of crisis. Some of the major forms of crisis are detailed below: Natural Disaster: It is about the physical demolition of the organizations assets due Continue reading
Modern Management Concepts
Concept Mapping – A Tool For Organizing And Representing Knowledge
About Concept Mapping “If I had to reduce all of educational psychology to just one principle I would say this: The most important single factor influencing learning is what the learner already knows. Ascertain this and teach him accordingly.” – David Ausubel (1968) Concept mapping emerges directly from David P. Ausubel’s Assimilation Theory of meaningful verbal learning. The underlying basis of the theory is that meaningful (as opposed to rote) human learning occurs when new knowledge is consciously and purposively linked to an existing framework of prior knowledge in a non-arbitrary, substantive fashion. In rote (or memorized) learning, new concepts are added to the learner’s framework in an arbitrary and verbatim way, producing a weak and unstable structure that quickly degenerates. Joseph Novak is widely credited as the creator of concept maps, and has been writing and researching them since the 1970s. “Concept maps are intended to represent meaningful relationship Continue reading
Paradoxical Thinking
For decades, the management theorists have focused their attention on three types of thinking i.e. magical thinking, modern thinking and postmodern thinking. The latest inclusion is the paradoxical thinking. The main reason that paradoxical thinking has gained importance in the business world is that there were some buzz phrases that were being used by the employees of the organisations such as controlled chaos, getting outside the box, breaking the frame of reference, creative destruction, fuzzy logic and etc. All of these terminologies show that a business can develop something impossible by going beyond the imaginative framework and these old models have less importance in the contemporary world. The primary crux of the paradoxical thinking is that the openness can be anything but it is indecisive, lacks principled convictions and is sometimes passionless as well. Paradoxical thinking implies that problems should be looked from different angles rather than one perspective so Continue reading
Stakeholder Engagement
Stakeholders refers to those individuals or a group who has vested interest in the outcome or the results of the body of a work in an organisation. The term “stakeholder engagement” is budding as a means of describing a broader, more inclusive, and continuous process. It takes place between the company and the potentially impacted stakeholders that encompasses a range of activities, approaches and, the entire span of a project. The change that is likely to occur reflects the broader change in the business and financial worlds. It increasingly recognizes the business and reputational risks that may occur as a result of poor stakeholder relations. It also places a growing emphasis on corporate social responsibility, transparency and reporting. Stakeholder engagement can therefore be defined as the process of effectively eliciting the stakeholders’ views on their relationship with the organization. Stakeholder engagement is increasingly becoming a part of mainstream business and Continue reading
The Concept of Hybrid Managers
A hybrid manager can defined as a person who possesses strong technical skills and adequate business knowledge or vice versa. He should have the required skills needed in the technical as well as the management aspect. Along with that, he should also possess the management competences like communication skills, negotiation skills and also he should be able to motivate others working under him. A Hybrid manager should be able to reduce the gap between the business and technical aspects of the organization and build it with his expertise. Any organisation which has business and technical department working in tandom with each other has an advantage over other organisations whose technical and business department is not integrated. And this role of integration of the business and technical department is performed by the Hybrid managers. Characteristics of a successful Hybrid Manager Self-motivated/like being challenged – A successful hybrid manager is self-motivated person. Continue reading
Introduction to Quantum Management
Quantum management is a new and innovative approach to management that is based on the principles of quantum physics. Unlike traditional management models, which rely on classical physics and linear thinking, quantum management recognizes the interconnectedness and interdependence of all things and embraces the complexity and unpredictability of the modern business environment. In this article, we will explore the key concepts of quantum management, and how they can be applied to create a more effective and efficient management approach. The foundation of quantum management is the idea that everything in the universe is connected, and that the behavior of one system can affect the behavior of another. This is known as the principle of non-locality, and it is the basis for the concept of entanglement in quantum physics. In management, this principle means that all aspects of a business are connected, and that a change in one area can have Continue reading