Principles of Management: CONTEMPORARY APPROACHES (Learning organization, High performance practices, shared value& Sustainable development) 2023

Principles of Management: CONTEMPORARY APPROACHES (Learning organization, High performance practices, shared value& Sustainable development) 2023 The three contemporary approaches include: - Correct Answer The learning organization High-performance practices Shared value & Sustainable Development Learning organization - Correct Answer an organization that actively creates, acquires, and transfers knowledge within itself and is able to modify its behavior to reflect new knowledge The three parts to a learning organization are: - Correct Answer Creating and acquiring knowledge Transferring Knowledge Modifying behavior Creating and acquiring knowledge - Correct Answer acquire knowledge by constantly scanning the external environment hiring new talent and expertise when needed devoting significant resources to training and developing their employees Transferring knowledge - Correct Answer Sharing information and reducing barriers: Share your personal success story and challenges overcome be ready to learn anything and everything from your peers and employees align your learning goals for the company with it's business goals. Modifying behavior - Correct Answer Improving work related operations based on good or bad results. If there is a problem, learn from it and try to resolve the problem. High-performance work practices - Correct Answer Improve an organization's ability to effectively attract, select, hire, develop and retain high-performing personnel.