The differences in the types of organisations, their structures, their goals and perspectives, and the way they recognise and face challenges can breed a lot of opportunities and avenues for producing and distributing new information to the world. Technology and science has made wonders for almost everyone living in this planet. It has changed the way we live. It has also introduced new sets of problems and issues which must be strategically addressed. Firms are already in the forefront of responding to changes and challenges in their environment. They respond to these challenges through strategies that make use of support systems like technology and scientific research. Today’s business and social transactions are being supported more and more by technological and scientific innovations and strategies. Knowledge of advanced technologies in the different sciences and frontiers has largely advanced most careers and business prospects. The purpose of a business firm is to Continue reading
Modern Management Concepts
Social Loafing in Organizations
Social loafing is antithesis of synergy in team-work which suggests that people working together on a common task may actually decrease their individual efforts; team-work does not necessarily spurt group efforts. A simple phenomenon of social loafing may be observed in a group assignment to students during their study. In such an assignment, students find that one or two students do not put their weight for the completion of the project. These students may be called loafers (not attaching the same connotation which is attached with the term loafer in our social phenomenon) who frequently miss the project group’s meetings, fail to perform their assigned tasks, and so on. They rely on the fact the more reliable members will complete the project without their help, and still expect to share the credit and obtain the same marks from the professor since he will be concerned with determining who worked and Continue reading
Social Engineering Attacks – Explanation with Examples and Prevention Tips
The rise of 21st century marked the transition phase of the most global businesses towards a paperless office environment, where the focus shifted the manual to the computerized form of work culture. But at the same time, change brought a number of threats and menace in terms of one of the biggest issues of the current businesses, the social engineering used among the hackers for cracking techniques that rely more on human weaknesses rather than technology itself. The aim or motive of such attacks was getting access to passwords or other relevant information by tricking people for carrying out illegal or criminal activities. FBI and other security experts hold a firm view that majority of threats originate from the internal working environment or employees who have been granted additional privileges or authorities to company’s information. People who have an urge for power and control over other individuals exhibit the social Continue reading
Implementing BPR in Hierarchical Authority Organizations
Today the business world is characterized by unpredictable changes, under the global competition and the customers’ demands. To be successful in such an environment, a firm must operate with speed, flexibility, low overheads and a clearly defined customer focus. The term business process reengineering (BPR) refers to an approach that is used by organizations seeking improvements in their business performance. Organizations consider BPR as an important tool of organizational improvement, as it helps them achieve the radical change necessary for today’s volatile business environment. Additionally, BPR stresses the importance of linkages within an organisation. Though its structure integrated processes are generated concerning the nature of people’s jobs and how people are grouped and organized in the working environment. What is more, through BPR people’s jobs become multidimensional instead of narrow and traditional task orientation. When the concept of process is promoted in the BPR, cross boundary teamwork is incorporated and Continue reading
How Creativity, Innovation, and Entrepreneurship are Related?
There is an important relationship between creativity, innovation and entrepreneurship. In fact, creativity is the ability to develop new ideas and to discover new ways of looking at problems and opportunities; innovation is the ability to apply creative solutions to those problems and opportunities in order to enhance people’s lives or to enrich society. Entrepreneurship is a result of a disciplined and systematic process of applying creativity and innovations to needs and opportunities in the marketplace. Innovation is the specific tool of entrepreneurs, the means by which they exploit change as an opportunity for a different business or a different service. All products or services are the combination of three factors: nature raw materials, labor (physical and mental) and capital. Entrepreneurs, as innovators, are people who create new combinations of these factors and then present to the market for assessment by consumers. Porter (1985) argues that, while successful businesses will Continue reading