As economies continue to integrate due to globalization and formally closed economies like India and China march toward total liberalization, entrepreneurship is on the increase. A close analysis of developed and industrialized economies indicates a common denominator that stands out amongst all of them. This is the most important role played by entrepreneurship and entrepreneurs in such economies. This phenomenon has proved to us that if an economy is to develop fully, entrepreneurship should be allowed to flourish. Innovation Individuals often resort to entrepreneurship for one of the following reasons; they find a market niche and have the solution to profit from such niche; they have been unable to find suitable employment or a suitable means of income and therefore have resorted to using their creativity to generate an income for themselves; or they have the technological know-how and the financial resources (or able to source all of the above) Continue reading
General Management Articles
Use of Reinforcement Theory to Overcome the Restraining Forces of Change
People refuse to new changes brought in the work environment due to many reasons of insecurity, uncertainty, etc. thus they do not accept the change and stand against it. Here we are trying to use reinforcement theory to achieve our objective. Restraining forces as the forces that make change more difficult. Restraining forces are those factors that resist change to occur; few examples are lack of skill and knowledge, antagonism between the employees and the manager, poor job description. There are many forces that restrain to a change in the work environment such as: Uncertainty regarding change. Fear of the unknown. Disturbances in the routine. Loss of existing benefits. Threat to the current position. Redistribution of power. Disturb in the existing social networks. Conformity to norms and culture. The general principle here is that whenever a change is perceived as creating some threat to the employee having his/her needs met Continue reading
Kotter’s Eight Step Change Model – Explained
Organizational change is described as the shift of the behavior of the whole organization, to one degree or another. One should understand that change is not that can immediately occurs, ought to be intended and planned process to maintain an organization practical and existing. Three categories of organizational change are; Development change is that change where organization try perform better what they all ready performing. Transitional change is that change in which organization implement totally new methods replacing old ones. Transformational change is that change where organization do major overhauling of its structure, vision and strategy and change bring evolution in the organization. Managing culture in the organization is very important these days when every day new technology is coming and there is so much competition in the market to stay on the top. Organizations are going through a big cycle of cultural change these days from daily tasks to Continue reading
Relationship Between Organizational Culture and Strategic Management
When any group of people live and work together for any length of time, they form and share beliefs about what is right and proper. They establish behavior patterns based on their beliefs, and their actions often become matters of habit which they follow routinely. These beliefs and ways of behaving create the culture of the organisation. Culture is a pattern of shared tacit assumptions that was learned by a group as it solved its problems of external adaptation and internal integration, which has worked well enough to be considered valid in organisation and it is necessary to be taught to new members as the correct way to think, perceive, and feel in relation to those problems that occur in many organisation today. Culture also influences the selection of people for particular jobs, which in turn affects the way in which tasks are carried out and decisions are made in Continue reading
Effective Teaming Factors
There are obvious challenges to form and lead a functioning team, even if the team is collocate physically within a training room or office throughout the whole process of training. Moreover the training involves distant learning mode that individualistic or individual behavior towards the whole proceeding come into play that could affect the performance of the entire team. To lead a team has little understanding on the member’s background is an uphill task for the leader. Advanced communication technology will not guarantee the team is working except the individual that participate in the training stretch and contribute within the context of the training that makes this a successful training experience. Participants Background Assessments for Genuine Purpose Understanding the participant background is one of the crucial steps to form a team as if the participant can or will go through the process as required by the program. The participant need to Continue reading
Business Model – Definition, Components, Role and Importance
Business model describes entire procedure of creation, delivery, and capturing of organizational values in both economic and social aspects. It represents core aspects of the business which include strategies, organizational structure, purpose, operational processes, policies, infrastructure, and business practices. Entire functioning of the business is based over this business model as it provides guideline to the organization to carry out all its activities. Thus there is a need to define business model of any organization at first in an explicit manner to avoid all the discrepancies at first end. Business model directly focuses over customer needs as it is this particular aspect along with product differentiation strategy, i.e. to introduce new product to make sure that company is able to capture optimum market share. This model also specifies customer groups through market segmentation to directly focus over those market sectors that will provide maximum return to the associated product. Business Continue reading