The terms team and group are often used interchangeably in management subjects, but there are some differences between these two concepts. A group is a collection of individuals who coordinate their individual efforts. On the other hand, at team is a group of people who share a common team purpose and a number of challenging goals. The notable difference between a team and a group is that: A group may be formal or informal where as a team is necessarily formal. A group may or may not have a common goal to work towards but a team efforts are clustered towards the attainment of organizational objectives. A group can be organizational or social. A team is mostly organizational. A group is an aggregate of persons with close inter relationships. A group is a cluster of two or more individuals who interact with each other on a relatively enduring basis, identify Continue reading
Management Concepts
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
Why Do Organizations Have a Code of Ethics?
Business ethics are the guidelines a company has in place to follow when interacting with internal and external sources, with the purpose being to impact the way in which they do business. It also means that all professionals will be held to the same standard, as it’s something the organisation’s core values and principles are based on. It is beneficial to ensure that everyone involved are treated with respect, and to create a working environment that’s as positive as possible. By having a code of ethics, a business is presenting themselves as having a unified attitude and would be seen as behaving with integrity. Businesses adopting a code of ethics will create a stronger environment of trust and integrity within the workplace. It is helpful when all employees, including management, are following the same rules and behaving in a certain way because it means most conflicts will be removed from Continue reading
Soft Skills – Meaning and Importance
The term personality is derived from Latin word persona, a mask worn by actors in classical dramas. Behaviorist psychologists feel that if a person has some kind of impact or makes a certain impression on others, it must be because of his actions. The simplest meaning of personality, therefore, is “the pattern of responses” which characterizes the individual. An individual’s personality is invariably revealed through interactions in the personal, social and the professional arena, for the act of communication determines how one views and in return is viewed by the world around. In the modern world of professional rivalry and competitive business, obsessed with power and achievement, personality becomes the byword for success. There are qualities that enable one to evolve and grow into an empowered and well-balanced personality, a choice that proves to be a wise investment for long-term achievements. Such qualities along with the ability to effectively communicate Continue reading
Effects of Innovative Culture on Organizations
Growth creates a need for structure and discipline, organisation changes which can strain the culture of creativity that is so vital to future success. To sustain competitive advantage, companies need to institutionalize the innovation process; they need to create an internal environment where creative thinking is central to their values, assumptions and actions. Management changes and management generally is about implementation. When the managers of an enterprise feel pressured, the fear-driven response is generally to implement better and which generally results doing more of the same only quicker or cheaper. While this is great for doing more of the same, it is still the same and meanwhile everything else is changing — customer’s needs, technology, society, macroeconomics and geopolitics are all changing. Innovation is the engine of growth. It is also a mindset — meaning it is influenced by beliefs, values, and behavior. Company culture therefore has a huge influence Continue reading
Social Entrepreneurship and Commercial Entrepreneurship: Similarities and Differences
The vocabulary of “entrepreneur” originally came from French economics, which means someone undertakes a significant project or activity. Jean Baptiste Say indicates that entrepreneurs especially be used to describing venturesome individuals who advanced economic progress using new and better ways of doing things. Joseph Schumpeter identifies entrepreneurs are change agents in the economy, who drive the process of capitalism. Both Say and Schumpeter regard entrepreneurs as someone engaged in new, profit-seeking business ventures, through which serving its responsibilities. While contemporary management and business hold a broader view of entrepreneurs. According to Drucker, entrepreneurs are those who search for change, responds to it, and exploits it as an opportunity. Howard Stevenson says entrepreneurs do not only see and pursue opportunities but also have the capability to mobilize the resources of others to achieve their entrepreneurial goals. Thus, the definition of entrepreneurs is not limited to business start-ups, and it can be Continue reading