...Three business students on the usefulness of innovation management and new product development in an essay format. The topic of the essay is “what skills should a business graduate acquire about innovation management in order to advance their career development and employability”. "We live in a society where technology is a very important force in business, in our daily lives. And all technology starts as a spark in someone's brain. An idea of something that didn't exist before, that once they have invented it —brought it into existence — could change everything. And that activity is generally one that's not very well supported." - Nathan Myhrvold, CEO, Intellectual Ventures From a 2010 interview with Harvard Business Review Introduction In the development of new businesses today, initiatives that spur knowledge-based competitions amplify the importance of boundary spanning activities and tactical coalitions, which cause organizations to focus more on institutional knowledge, system improvement and knowledge management (Quah, 2001). This essay will help the level 3 business school students to understand the required skills about innovation management to to advance their career development and employability. An innovation is something that is new. You are required to write a piece of advice to a group of Level Three business students on the usefulness of innovation management and new product development in an essay format. The topic...
Words: 2829 - Pages: 12
... Question 1: How do you implement change in a bank? In a traditional organization of Mohawk National Bank, the main problem is that there is no communication and cooperation between departments due to absence of a project manager, who could act as focal point for the integration work. For solving their problem Mohawk National Bank is thinking to consider a new organizational structure: matrix organization. The main obstacle of this project is the hostility at change of most of the employees. For overcome this obstacle Bank top-managers have to find a Project Manager that can motivate and convince people that this change it is important and necessary for Bank’s business life. The first step is to select the right people within the organization. Looking carefully at the interviewed of the most competent employees it seems that nobody it is perfectly suitable for the project, so it is fundamental the support of top Management. Top Management have to choose one of those in trial for some month and then decide if assigned him/her permanently to the position of Project Manager. Question 2: What are some of the major reason why employees do not want to become project managers? Banks are generally traditionalist and regimented, mainly due to strict rules, policies and procedures. Also employees have got similar characteristics: many of them have been in Mohawk Bank between 20 and 30 years and for this reason they will resist to change and fight the project all the time...
Words: 1174 - Pages: 5
...Intercultural Management: Change implementation in the context of national culture Prof. Taina Savolainen School of Business, Management and Leadership, University of Joensuu, Finland taina.savolainen@joensuu.fi ABSTRACT This keynote address considers change implementation in the globalizing business environment in the context of culture. Organizations seek ways to cope with new situations in order to survive and be competitive. The primary strategic challenge in multicultural change processes is managing and implementing change successfully. The paper discusses the means of creating readiness for change and challenges they present to intercultural management. Keywords: Change, coping, culture, intercultural, implementation, middle management, readiness 1.0 Introduction Sustaining competitiveness force business organizations to adapt major changes and seek strategies that may be realized in varying, different cultural environments. This presents challenges to multicultural management, in general, and change implementation processes, specifically. Change implementation does no more concern organizational culture only. It is also dependent on understanding different national cultures and having behavioural skills accordingly. Organizations face, thus, constant challenge of change in management (Ascari, Rock & Dutta, 1995). Economic and social forces create a necessity for internal changes in organizations. Globalizing marketplace and fast technological changes force organizations...
Words: 3836 - Pages: 16
...Human Resource Management In Healthcare Kimberly Hughes Ethical and Critical Thinking Professor Gronholz Research Paper Abstract This research paper addresses the importance of human resource managers within the healthcare world. Human resource managers oversee the employee administrative system of any organization. In healthcare, they are responsible for employment placement, healthcare systems, and taking care of patients. After reading this paper, you will understand how important human resource managers are within the healthcare world physically and mentally. In conclusion, you will learn how this profession is obtained and how vital it is to keep this profession growing across the world. Proposal Human Resource Management Definition: Human Resource Management is the management of an organizations workforce, or human resources. It is responsible for attraction, selection, training, assessment, and rewarding of employees, while also overseeing organizational leadership and culture and ensuring compliance with employment. The Importance of Human Resource Management in Healthcare Human Resource Management is vital to any healthcare system and how it can improve healthcare. My goal is to prove that overall we as Human Resource Managers are essential to delivery of healthcare and patient services. Though being a Human Resource Manager within healthcare is challenging, but they are needed to fill various positions in the healthcare systems. Though they are...
Words: 971 - Pages: 4
...ob : organization behaiviour14 Organisation Strategy and Structure 542 The importance of strategy 543 SWOT analysis 545 Organisational goals 546 Objectives and policy 549 Dimensions of organisation structure 551 The importance of good structure 552 Levels of organisation 553 Underlying features of organisation structure 555 Division of work 557 Centralisation and decentralisation 560 Principles of organisation 561 Span of control 562 The chain of command 563 The importance of the hierarchy 564 Formal organisational relationships 566 Project teams and matrix organisation 569 Effects of a deficient organisation structure 572 Organisation charts 573 Empowerment and control 574 Synopsis 576 Review and discussion questions 577 Management in the news: A taxing merger 577 Assignments 1 and 2 578 Personal awareness and skills exercise 579 Case study: Zara: a dedicated follower of fashion 580 Notes and references 582 15 Patterns of Structure and Work Organisation 585 Variables influencing organisation structure 586 The contingency approach 586 Size of organisation 588 Technology 589 The Woodward study 589 Major dimensions of technology: the work of Perrow 593 Environment 594 The Burns and Stalker study 594 ‘Mixed’ forms of organisation structure 595 The Lawrence and Lorsch study 597 Evaluation of the contingency approach 598 Contribution of contingency theory 600 Culture as a contingent factor 601 The changing face of the workplace 603 The demand...
Words: 901 - Pages: 4
...Total Quality Management Vol. 23, No. 11, November 2012, 1227–1239 Which HRM practices contribute to service culture? Akiko Ueno∗ ,† Royal Docks Business School, University of East London, Docklands Campus, 4-6 University Way, London, E16 2RD, UK It is known that Human Resources Management (HRM) can help to develop service culture, which will in turn improve service quality. The purpose of this article is to determine the relative importance of six HRM practices in terms of their impact on culture. A questionnaire survey of medium and large-sized UK service businesses was conducted. The results reveal that there is a strong association between culture and HRM practices, and that some management practices are more strongly associated with culture than others. Further research should explore the reasons why some HRM practices are more contributory to culture than others. Service businesses in pursuit of service quality should make use of these HRM practices for developing service culture in their organisations. This research has confirmed a strong association between culture and HRM practices, and also clarified the relative importance of HRM practices in terms of their impact on culture in order to improve service quality. Keywords: culture; HRM; services Introduction This article investigates the relative importance of six Human Resources Management (HRM) practices in terms of their impact on culture in order to improve service quality. In a previous study, it was found...
Words: 6827 - Pages: 28
...Health Care Management Errors in a Post Modern/Complex Adaptive System MHA 601 Health Care Management Errors in a Post Modern/Complex Adaptive System Post modernistic/complex adaptive systems allow a leader a broader spectrum in which to examine a potential problem. In the past, problems in healthcare were presented and leaders used an absolute to correct the problem and move forward. Health care problems today are more complex and require a manager to think in terms bigger than just an absolute solution. “For the postmodernist, all models are only partial descriptions of reality, and scientific models are shaped not only by traditional scientific processes, but also by political, social, and personal interest,” (Johnson, 2009, p. 65). The following summaries of management errors will be examined as if management were that of a post modern/complex adaptive system. Scenario 1: A manager fails to account for employees’ ability to learn safe practices by experimenting on their own to increase productivity and jeopardize current standards put in place. This scenario is an error because the manager failed to see the inevitability of change. As resources become scarcer, employees are going to search for ways to increase their productivity as they feel more pressure to produce. A manger with a post modernist perspective would act as a change agent and anticipate the need for increased productivity and would implement the changes necessary prior to their staff experimenting...
Words: 1086 - Pages: 5
...Article Summary and Critical Review Human Resource Management A New Mandate for Human Resources By Dave Ulrich 1 Summary In recent times HR has been perceived as ineffective, incompetent and costly. A need has been felt for creating a new role and agenda to focus on the outcomes and deliverables enrichinhg the organisations value to customers, investors and employees. The four ways which should be adopted by the HR are ← It should partener with the management in executing the strategy ← Develop an expertise in organizing and executing administrative work efficiently. ← Become a medium of transferring employes concerns to the management and develop means to increase employee contribution. ← It should become a change agent, shaping processes and cultures for facilitating change in the organization. The primary role of transforming the HR role lies on the CEO and all line managers who have the main responsibility of achieving the business goals. Thus the line and the HR should form a partnership to make it focused on outcomes rather than activities. 1 Reasons for increase in importance of HR HR can play leadership role in meeting the following competitive challenges Globalisation – The HR must develop understanding and skills in ways of international customers, commerece and competition. It should facilitate the organization in increasing its...
Words: 936 - Pages: 4
...Strategic Management: Strategy is a long-term plan framed to gain a competitive advantage. Strategic management is a domain wherein strategies are transformed in to actions. It even comprises decisions made based on priorities, say, tasks to which time is devoted like resource allocation. These plans and decisions are aligned to goals of an organization. (Amason, A. 2010) Strategic management focuses on clients to know their expectations and serve them brilliantly. It involves action plans to reduce attrition and to retain the best talent. Its scope involves the functions and activities which make the organization innovative and pioneering. (Karami, A. 2007) Need for Strategic Management: Need for its strategic management arises to fulfill the priorities of an organization few of which include: o To accelerate its growth in this global business. o To augment the operational excellence of the organization. o To become globalized. It aims towards value creation to all shareholders at the same time even being centered towards society. (Amason, A. 2010) Executive Summary: Strategic Management involves formulation and implementation of strategies to improve the performance and to gain competitive advantage. It involves decisions and acts that managers undertake in order to attain the desired goals. Strategies are planned means to attain end results. Strategic management is long term in nature and gives a direction to the organization. Before...
Words: 4279 - Pages: 18
...Running head: The Importance of Management 1 The Importance of Management Chelsea Winslow MGT330: Management of Organizations Paul Verlasky THE IMPORTANCE OF MANAGEMENT 2 Introduction Management is crucial in developing the operations of organizations. The structure of an organization is the foundation that an organization positions itself on and determines the success of the organization. Without management, organizations would lack defined purpose and goals. Management in organizations has led to studies of various theories of management. There are numerous theories and ideas that have shaped management principles within organizations. Despite the ever changing environment of organizations, there are five core functions that have remained intact. These functions are: leading, planning, staffing, organizing and controlling. Every organization and its needs are unique and specific to that organization. Every organization will have a different approach and way of operating, but these five core functions are the constant in the implementation of each organization’s goals. These core functions can be observed in one of the retail industry leaders, Macy’s. As a former employee of this organization, I observed these five functions of management in the achievement of their goals. Also, as a former employee of this organization, I believe I can elucidate more on the process of application of these functions in various situations...
Words: 1804 - Pages: 8
...& Brough, 2008). However, Judiesch & Lyness explain (cited in Smith & Gardner, 2007, p. 4-5) that “Other research has also identified situations in which taking leave, regardless of the reason for it, was associated with fewer promotions and smaller salary increases suggesting a relationship between taking leave and perceived commitment to ones career”. This brings about the issue of promoting work-life balance policies in a positive manner so that negative connotations may be avoided. This assignment explains the difficulties associated with promoting a healthy work-life balance as well as how an effective use of policy and implementation relating to work-life balance can improve organisational culture and productivity. Management teams in organisations often find it difficult to promote the use of work-life balance policies due to the negative connotations associated. Wayne and Cordeiro (cited in Smith & Gardner, 2007, p. 5) state that “Employees may perceive that using family-friendly initiatives will have a negative impact on their perceived commitment to the organisation and decrease the likelihood of salary increases, promotions and positive performance appraisals”. This is largely due to the need of developing fair and supportive supervisors to create work-family alignment. Parkes and Langford (cited in Kalliath & Brough, 2008, p. 225). Therefore improving the...
Words: 1489 - Pages: 6
...Essay 7.1 Role of Project Management Office October 31, 2015 Role of Project Management Office The importance of the project management office is to help businesses improve the probability of success. PMO is like an umbrella entity within an organization that overlooks project management activities, offering secure executions of projects. The project management office is the source of documentation, guidance and metrics on the preparation of project management. It is important to streamline PMO functions first by standardizing Project Management tools and techniques. This will help in avoiding overall project risks and failures. Eventually, how a project management office (PMO) is designed and staffed for maximum effectiveness depends on a variety of organizational factors, including targeted goals, traditional strengths and cultural imperatives. It is also found that by using established project management approaches increased success as measured by a project's key performance indicators of quality, scope, schedule, budgets and benefits. The Project manager’s job is to focus on the specific project objectives, while the PMO manages major program scope changes which may be seen as potential opportunities to better achieve business objectives. The survey indicates that operating an established PMO is one of the top three reasons that drives successful project delivery. The problems facing an organization, performing informal project management practices would hinder the...
Words: 463 - Pages: 2
...marketplace change within the last thirty years, the principles that involve in management have not changed. But the capacities to understand and implement the principles of companies have significantly improved. The role of the top management It is a core task of the top management to generate and maintain a culture and business atmosphere where improved understanding of the consumer is the driving force for the team entrusted with management of the brand. Managing brands for value creation According to the research which was carried out by Booz Allen Hamilton and Wolff Olins, they have found that there are three categories of companies. These companies were categorized in a way that how each company has identified the importance of brands in their success. The three types are briefly described below. * Brand-guided companies: These companies have identified that brand is so important for the success of their business and therefore to have a reasonable management of brand. They have established a common understanding of what they stands for and therefore have assigned clear brand ownership at top management level [1]. * Emerging brand companies: These companies have not yet fully recognized the importance of brands in success. They are developing a common understanding of their brands. Therefore we can expect them to be a brand-guided company over the next five years. * Brand-agnostic companies: These companies have not indentified the importance of the...
Words: 1022 - Pages: 5
...Factory Join Search Browse Saved Papers Home Page » Business and Management Market and Nonmarket Environments Any Issues or Changes That Happen in One of These Environments Can Directly Cause Change to the Other. Since Both of These Are so Closely Related and to a Great Importance for a Firm In: Business and Management Market and Nonmarket Environments Any Issues or Changes That Happen in One of These Environments Can Directly Cause Change to the Other. Since Both of These Are so Closely Related and to a Great Importance for a Firm Canadian Business Environment Market and Nonmarket Environments Any issues or changes that happen in one of these environments can directly cause change to the other. Since both of these are so closely related and to a great importance for a firm to run successfully, they have put more focus on managing both aspects of the company. The interrelationship between the market and nonmarket environment is heavily based on the role of management. Since a firm will operate in both the market and nonmarket environments, managers are there to measure the impact one has on the other. The issues found in the nonmarket environment are directly related to the market environment of the firm. The nonmarket environment is a little more difficult to control than the market environment, but each firm is aware of the importance of running sufficiently in both aspects in order to be successful. As shown in figure 1-1 (Baron...
Words: 620 - Pages: 3
...yTHE IMPORTANCE OF PAY IN EMPLOYEE MOTIVATION: DISCREPANCIES BETWEEN WHAT PEOPLE SAY AND WHAT THEY DO Sara L. Rynes, Barry Gerhart, and Kathleen A. Minette A majority of human resources professionals appear to believe that employees are likely to overreport the importance of pay in employee surveys. However, research suggests the opposite is actually true. We review evidence showing the discrepancies between what people say and do with respect to pay. We then discuss why pay is likely to be such an important general motivator, as well as a variety of reasons why managers might underestimate its importance. We note that pay is not equally important in all situations or to all individuals, and identify circumstances under which pay is likely to be more (or less) important to employees. We close with recommendations for implementing research findings with respect to pay and suggestions for evaluating pay systems. © 2004 Wiley Periodicals, Inc. It is easy to overestimate the frequency with which adults actually go to the opera and underestimate the frequency with which they watch TV cartoons on Saturday mornings, based on their self-reports. (Nunnally & Bernstein, 1994, p. 383) Rynes, Colbert, and Brown (2002) presented the following statement to 959 members of the Society for Human Resource Management (SHRM): “Surveys that directly ask employees how important pay is to them are likely to overestimate pay’s true importance in actual decisions” (p. 158). If our interpretation...
Words: 9177 - Pages: 37
