The concept of knowledge itself is not new, because the need and importance of knowledge has been the basis for the development of various cultures, philosophies and religions. What has really made it possible for people and even organizatins today to even contemplate harnessing knowledge energies for better management has been the rapid evolution in technology that we have seen over the last decades. The role of technology, particularly information technology in defining and revitalizing corporate strategy has evolved over the last forty years or so. In the 1960s and 70s, computers were confined to glass cabins and sometimes as departmental number crunches. Information strategy was always seen as something that would come in after the corporate strategy had been defined. It was only with the introduction of the personal computer in the early 1980s and the subsequent spread of the networking phenomenon that changed the role of information technology Continue reading
Latest Management Trends
Comparison of Japanese and Western Management Styles
The key difference between Japanese and Western management style is not one of method but of attitude and philosophy. The Japanese have studied the Western style of management, concentrating mainly on American management styles for the past 30 years and have adapted what they believed to be useful methods to their own work environment. It now appears that Western companies are studying some of the Japanese management styles, attitudes, and philosophy and have adopted areas of work ethic, which they believe to be valuable to their companies. It is necessary that Western companies study and deploy various Japanese management styles because the most important reason behind successful Japanese outcome in productivity and quality is the quality of their work force. Western companies aren’t often able to compete with Japanese companies. They must simply adjust their human relations and ways of management in order to become more competitive with not only Continue reading
Advantages and Disadvantages of Franchising Business
Franchising is a style of business which has a lot of different but same branches throughout the world. Franchising business is an arrangement for a continuing relationship in which one party – a franchisor provides an accredited opportunity to another party – the franchisee to do business using its trade name and offers assistance in organizing, training, producing, marketing and managing a good or service in adherence to certain specifications, in return for monetary exchange. The franchisee usually pays a one-time franchise fee plus a percentage of sales revenue as royalty, and in turn gains instant name and recognition, tried and tested products, standard infrastructural design and interior decor, detailed techniques in running and promoting the business, training of employees and on-going help in promoting and improving the product The advantages of franchising from the franchisee’s point of view are myriad. First, the franchisee can benefit from the widely recognized Continue reading