A Study on various aspects of Management in terms of organizational
welfare
ABSTRACT
A company expands over the span of time by facing various hurdles. Managing business has
become a difficult task with increasing complexities. Management has proved successful itself in
serving organizations to improve and innovate, and its application has grown in
diverseperspectives. Today, specially, members of every organization should rediscover the
capability and desire to learn. This paper reviews the basic aspects as well as some innovative
management aspects as well as various aspects of management.
KEY WORDS
Management Aspects, Business strategies, Traditional and innovative roads.
Introduction
Management is interpreted by different people in different ways. Economists believe it a factor of
production. Sociologists outlook it as a class or group of individuals while management
practitioners believe it as a process. For understanding, management can be seen as an
executive who performs in a formal organization. to achieve goals. In the words of Mary Parker
Follett Management is "the art of getting things done though people.At the present time, there
are powerful corporations that are capable of developing and staying on top in great competitive
circumstances, regardless of the activity area. What makes them
tang huden Mandifferent from other companies? Companies with high growth rates may have
an answer to this question. Their management skills, strategies, their
various ways of handling and managing the internal process, prove that to build a successful
company one must follow at least some conditions, which is going to be described in the next
section.
LITERATURE REVIEW
Many researchers (e.g. Belli & Boyd, 2003; Gupta & Govindarajan, 2002) consider that
accomplishment of global business aim is a wide-ranging alliance by organization Global state
of mind, when each and every employee is primed to work effectively in a global business
environment. Management expert Peter Drucker is credited with introducing management by
objective (MBO) as an approach to rising organizational effectiveness. He considers that every
manager from the uppermost level to the lowest level in the organization should have clear
objectives to pursue. On the other hand, understanding the meaning of modernization is a bit
more contentious, mainly in the academic field (Birkins et al., 2008), in which research largely
concentrate on technological innovation as a barrier to other types of innovation.
OBJECTIVE
, ➤ To study about various management aspects for organizational growth.
➤ To study about different fundamental dimension.
➤ Review some of the novel dimensions.
Traditional Management Dimensions
1. Internal Process: Operation, Strategy
Optimization of internal processes leads to greater productivity and customer contentment.
Enhancement on the process to make it utmost efficient keeps service costs low and pleases
clients, leading to greater profits. The strategy of any organization answers many questions
such as what are the core competencies and how will anyone take advantage of them? What
are your annual targets? What is the vision and mission of your company? The dimension of
process is the area of implementation and productivity. In short, it wrapups all the stages and
their accurate output timely. What are the aspects of many great companies which differentiate
them from great ones is their implementation. Businesses that get the right stuff grow faster and
constantly than businesses that struggle with implementation.
2. Finances: Negotiation The compassion of the financial dimension is productivity for most
businesses, even though short-term financial goals can forfeit current profits to amplify future
potential. The more you get into your financial certainty, the more transparency you have about
what your company have done and can do in future. Another important aspect of management
is communication. The business market is becoming more global, and supported by
technological advancements, many companies are seeking it to expand their geographic scope
from domestic to overseas markets. To do this, interaction with foreign counterparts has become
one of the most important activities that managers undertake on a daily basis, estimated to
consume about 50 percent of their work time (Fraser & Jarkanda- Fraser, 2002).
3.Learning and Innovation: Technological Development
Technology advances and therefore must do business. New technology can provide
considerable change for management, through its application to operations and its direct use in
managerial work. These changes are expected to lead to smaller and more frequent
management structures. based on the benefits offered by new technology for control and
integration. Technology facilitates
us to automate numerous processes, thereby increasing our productivity as well as in various
fields like data analysis, ERP (enterprise resource planning), CRM (customer relationship
management), project management, communication methods etc.
4. End Result: Customer Satisfaction
Clients are the base of any company. Without their fund which is invested in your organization,
the whole thing will stop. The goal of manager is to capitalize on the flow of fund, but that does
not always mean acquiring more customers.
welfare
ABSTRACT
A company expands over the span of time by facing various hurdles. Managing business has
become a difficult task with increasing complexities. Management has proved successful itself in
serving organizations to improve and innovate, and its application has grown in
diverseperspectives. Today, specially, members of every organization should rediscover the
capability and desire to learn. This paper reviews the basic aspects as well as some innovative
management aspects as well as various aspects of management.
KEY WORDS
Management Aspects, Business strategies, Traditional and innovative roads.
Introduction
Management is interpreted by different people in different ways. Economists believe it a factor of
production. Sociologists outlook it as a class or group of individuals while management
practitioners believe it as a process. For understanding, management can be seen as an
executive who performs in a formal organization. to achieve goals. In the words of Mary Parker
Follett Management is "the art of getting things done though people.At the present time, there
are powerful corporations that are capable of developing and staying on top in great competitive
circumstances, regardless of the activity area. What makes them
tang huden Mandifferent from other companies? Companies with high growth rates may have
an answer to this question. Their management skills, strategies, their
various ways of handling and managing the internal process, prove that to build a successful
company one must follow at least some conditions, which is going to be described in the next
section.
LITERATURE REVIEW
Many researchers (e.g. Belli & Boyd, 2003; Gupta & Govindarajan, 2002) consider that
accomplishment of global business aim is a wide-ranging alliance by organization Global state
of mind, when each and every employee is primed to work effectively in a global business
environment. Management expert Peter Drucker is credited with introducing management by
objective (MBO) as an approach to rising organizational effectiveness. He considers that every
manager from the uppermost level to the lowest level in the organization should have clear
objectives to pursue. On the other hand, understanding the meaning of modernization is a bit
more contentious, mainly in the academic field (Birkins et al., 2008), in which research largely
concentrate on technological innovation as a barrier to other types of innovation.
OBJECTIVE
, ➤ To study about various management aspects for organizational growth.
➤ To study about different fundamental dimension.
➤ Review some of the novel dimensions.
Traditional Management Dimensions
1. Internal Process: Operation, Strategy
Optimization of internal processes leads to greater productivity and customer contentment.
Enhancement on the process to make it utmost efficient keeps service costs low and pleases
clients, leading to greater profits. The strategy of any organization answers many questions
such as what are the core competencies and how will anyone take advantage of them? What
are your annual targets? What is the vision and mission of your company? The dimension of
process is the area of implementation and productivity. In short, it wrapups all the stages and
their accurate output timely. What are the aspects of many great companies which differentiate
them from great ones is their implementation. Businesses that get the right stuff grow faster and
constantly than businesses that struggle with implementation.
2. Finances: Negotiation The compassion of the financial dimension is productivity for most
businesses, even though short-term financial goals can forfeit current profits to amplify future
potential. The more you get into your financial certainty, the more transparency you have about
what your company have done and can do in future. Another important aspect of management
is communication. The business market is becoming more global, and supported by
technological advancements, many companies are seeking it to expand their geographic scope
from domestic to overseas markets. To do this, interaction with foreign counterparts has become
one of the most important activities that managers undertake on a daily basis, estimated to
consume about 50 percent of their work time (Fraser & Jarkanda- Fraser, 2002).
3.Learning and Innovation: Technological Development
Technology advances and therefore must do business. New technology can provide
considerable change for management, through its application to operations and its direct use in
managerial work. These changes are expected to lead to smaller and more frequent
management structures. based on the benefits offered by new technology for control and
integration. Technology facilitates
us to automate numerous processes, thereby increasing our productivity as well as in various
fields like data analysis, ERP (enterprise resource planning), CRM (customer relationship
management), project management, communication methods etc.
4. End Result: Customer Satisfaction
Clients are the base of any company. Without their fund which is invested in your organization,
the whole thing will stop. The goal of manager is to capitalize on the flow of fund, but that does
not always mean acquiring more customers.
