Implications for Managers and Modern Management Order Instructions: Implications for managers
Previous modules have made reference to important themes that permeate multiple aspects of modern management practice.
Prominent amongst those themes are the emergence of a more inclusive concept of what is meant by organisational stakeholders, an increased emphasis on ethical and socially responsible corporate behaviour, and a growing recognition of both the benefits and the costs of adopting rapidly developing technology.
In this Essay you should consider the impact of new approaches to the implementation of change on the attitudes of firms to those themes.
Implications for Managers and Modern Management Sample Answer
ODC COLL W7
A number of organisational owners would recognize the fact that they are managing in periods of turbulence and accelerating change. In addition, there is a consensus about the forces and patterns that are challenging their outdated perception of competitiveness and profitability. This essay discusses the effect of new approaches to the implementation of change in the attitudes of firms to organisational stakeholders, an increased emphasis on ethical and socially responsible corporate behaviour, and a growing recognition of both the benefits and the costs of adopting rapidly developing technology. New approaches can cause negative or positive effects when it comes to implementation of change. For instance, technology can be important in the implementation of change, such that it is transforming not just markets, but improving burdensome roles, customize production while leading to significant labor displacement. Modern technology facilitates decentralization of decision making without necessary losing ‘control’ and introducing flexible and less hierarchical arrangements (Majumdar 2014).
On the other hand, ethical and socially responsible corporate practices, dictates every organisation to respond to change in its own way based on the main competencies and interests of stakeholders ( Balmer & Burghausen 2015). Ethical and socially responsible corporate practices is a vital principle regarding the linkage between the wider community and the business, which requires a firm to not just implement it but also sustain it for a long period. A number of firms are remarkably making changes in their ethical and social practices. Whether due to changes in customer behaviour, pressure from different interest groups or liberal organisational managers, companies are becoming more liable. The changes typically start with transforming the manner in which organisations are managed. This can lead to effective ethical and socially responsible practices.
In most cases, it is regarded as an investment rather than an expense, similar to quality management. Moreover, ethical and socially responsible practices are associated with profitability. That is there is no effective ethical and socially responsible behaviour without returns. A main social responsible practice many organisations do is being profitable (Roshan, Owen & Brooks 2014). Profits are important for various purposes including rewarding investors, providing sustainable employment opportunities, pay decent salaries and taxes; development of new brands, and contribute to the success in the communities they operate (Martí-Ballester, 2015). For many years, ethical and socially responsible corporate practices can generate huge profits. However, it should be integrated in such way that management aims at achieving maximum balance in a bid to meet the different requirements of interested parties and stakeholders. The integration of societal requirements this approach assumes that the organisation has ethical and socially responsible corporate practices (Popa & Salanta 2014). As business environment changes, so do the need for prosperity and competitive advantage. Due to such changes in the market, developing a deep and strategic association with organisational stakeholders, corporate structures can be key places of competitiveness and survival. Such relationships can be the basis for new, progressive and individual-centered strategy that attack sources rather than signs of difficulties companies face currently.
By and large, modern management practices involve various themes including organisational stakeholders; ethical and socially responsible practices; rapid technology among others. These factors play an important part of investment choices of different investors. The pressure can exercise extreme effect as rapid technological development on the performance of firms. For that reason, they are important things for firms to take into account when implementing change.
Implications for Managers and Modern Management Bibliography
Balmer, J.M.T. & Burghausen, M. 2015, “Introducing organisational heritage: Linking corporate heritage, organisational identity, and organisational memory”, Journal of Brand Management, vol. 22, no. 5, pp. 385-411.
Martí-Ballester, C.P. 2015, “Investor reactions to socially responsible investment”, Management Decision, vol. 53, no. 3, pp. 571.
Majumdar, R. 2014, “Business decision making, production technology and process efficiency”, International Journal of Emerging Markets, vol. 9, no. 1, pp. 79-97.
Popa, M. & Salanta, I. 2014, “Corporate social responsibility versus corporate social irresponsibility”, Management & Marketing, vol. 9, no. 2, pp. 137-146.
Roshan, B.B., Owen, C. & Brooks, B. 2014, “Organisational features and their effect on the perceived performance of emergency management organisations”, Disaster Prevention and Management, vol. 23, no. 3, pp. 222-242.
