Management Trends in Current Scenario

Presented by: ABHISHEK SHANKAR (10MBA0115) ABHISHEK DAS (10MBA0059) AJAY SINGH (10MBA0060) AAKASH GHOSH (10MBA0114) SAPTARSHI BHAUMIK IMRAN KHAN ZHU YIBIN (10MBA0178)

The driving force behind the evolution of management theory is the search for better ways to utilize organizational resources. y Overtime management theories have evolved considerably under the effect of political, economical and cultural forces.
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Management

scientific management (F.W Taylor) The systematic study of relationships between people and tasks for the purpose of redesigning the work process to increase efficiency.

evolution y The evolution of modern management began in the closing decades of the nineteenth century, after the industrial revolution had swept through Europe, Canada, and the United States. y Managers of all types of organizations-political, educational, and economicwere increasingly trying to find better ways to satisfy customers needs.
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Scientific Management
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Many of the managers and supervisors had only a technical orientation, and were unprepared for the social problems that occur when people work together in large groups. Thus evolved techniques in Scientific Management. The techniques here adopted was that of Job Specialization & Division of labor.

Administrative Management
Bureaucracy is a formal system of organization and administration designed to ensure efficiency and effectiveness. y Authority is the power to hold people accountable for their actions and to make decisions concerning the use of organizational resources. y Authority gives managers the right to direct and control their subordinates behaviour to achieve organizational goals.
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Administrative Management

This talks about how managers should personally behave in order to motivate employees and encourage them to perform at high levels and be committed to the achievement of organizational goals. y It also dealt with how employees could become demoralized when managers do not treat their employees properly.
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Management science theory is a contemporary approach to management that focuses on the use of rigorous quantitative techniques to help managers make maximum use of organizational resources to produce goods and service. It included the following branches:

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Quantitative management. y Operations management. y Total Quality Management y Management Information Systems

organizational environmentthe set of forces and conditions that operate beyond an organizations boundaries but affect a managers ability to acquire and utilize resources. y One way of determining the relative success of an organization is to consider how effective its managers are at obtaining scarce and valuable resources.
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Organization Environment

Things were changing for the betterbut with the advent of information systems and internet technology, the best was yet to come websites, e-mailing, scanning, and printing. y Organizations now reduced on communication cost, increased transparency and doubled on efficiency and effectiveness this is the current situation. y However, this is not enough.the future is now beckoning us to change and already some companies are way ahead of the pack and are already reaping benefits.
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Changes incorporated in management with time

Incorporating all enterprise systems in websites : Companies are now using advanced features in their websites that are used to increase their turnover and good public perception like customer query systems to process customer queries, free hotline and Skype etc to talk directly with customers y Tele-conferencing & Tele-commuting :To reduce on fixed cost such as rent, travelling and other expenses companies allow staff to work from home and attend meetings via tele-conferencing and teleworking systems
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The changes

External data handling:Due to complexities companies are opting to have there data handled externally by professional firms. y Outsourcing:Companies are opting to outsource such professionals from established professional customer care firms so that they can concentrate on their core business. y Business collaborative systems:Companies are incorporating additional features such as calendars, address books, to-do lists, databases, resource planners etc in companies e-mailing systems to enable staff to set-up meetings, plan events this enables for integration of a firms efforts.
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E-commerce:This effectively enables companies to sell their goods online to any customer around the world. y Advanced competitor analysis:A firm needs to know that what their competitors are doing to enable them be up-to-date on their competitors new products and relevant activities, this can be through contracting professionals who are good at evaluating market conditions and competitor activities. There are also softwares and specialized websites that monitor competitors activities on the internet.
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Information platforms & blogging:To provide sufficient information on a companies goods, services, how-to guides etc ,companies operate blogs, social network accounts such as facebook, YouTube and twitter to get information to customers in a way that is easily accessible to them. y New media advertising:Firms are moving away from traditional static advertising such as television, newspapers and radio to new media such as internet could make use of media such as movies,internet, restaurant mats etc.
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Flexible working hours:To reduce the employee-conscious companies are now looking into adjusting the working hours of employees to avoid wastage of time through traffic jams and even allow their employees to pursue further education. This flexibility extends to as far as having night shifts even for professional employees. y Franchising:Franchising enables companies to increase their market penetration without having to establish operations and incur set-up costs besides avoiding the obvious risks.
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Departments as companies:Companies can adopt a strategy that enable search department to also act as its own company, for example a finance department could also act as an accounting firm and it could cost the parent firm for any services.

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The evolved trends

Six Sigma is a business management strategy originally developed by Motorola, USA in 1981. y Six Sigma seeks to improve the quality of process outputs by identifying and removing the causes of defects (errors) and minimizing variability in manufacturing and business processes. y It uses a set of quality management methods, including statistical methods, and creates a special infrastructure of people within the organization who are experts in these methods.
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6-sigma

As the world becomes more complex, more and more of what we do is knowledge work, the application of highly specialized knowledge and expertise. An organizations competitive advantage revolves around its most advanced talent - those leading edge knowledge workers who solve challenging problems, develop new products and take the business in novel directions. y Benefit: When experts collaborate,progress can be made much faster than any one employee working alone. Speed is the essence today, speed of execution as well as that of innovation.
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Knowledge management

What does it take to be world class? Richard Schonberger, a leading manufacturing consultant,created the term world-class manufacturing. According to him,manufacturing is gained by marshalling the resources for continual rapid improvement. To achieve world-class status, companies must change procedures and concepts, which in turn leads to transforming relations among suppliers, purchasers, producers and customers. World class manufacturing is indispensable to manufacturing innovators who aim to gain market share, operate at peak efficiency and exceed customer expectations so they can be world class in their industry.

World class manufacturing

Knowledge process outsourcing (KPO) is a new fad across India. Indian companies are moving up the ladder to value added tasks like market research, patent research and publishing. y According to Evalueserve, one of leading Indian KPO, the knowledge process market in India is worth US$2.5 billion to US$3 billion a year, and is likely to grow to US$10 billion to US$12 billion by 2012. y This move represents major shift of Indian outsourcing companies from cheap call center services to lucrative markets dominated mostly by Western companies.
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Knowledge process outsourcing

Retail management

Retail Management offers end-to-end control and management of entire retail-chain for super markets, convenience stores, pharmacy, hypermarkets and other retailers. y Retail business has been booming constantly and the number of large and mid-size retail chains has increased considerably. For a long time, these retail chains have been looking for a comprehensive solution that will cater to their growing business needs. Developed after thorough research on the retail industry requirements, Retail Management is a direct response to the Retail industrys needs.
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Mergers and acquisitions: A new wave for a new century

A factor behind the speed of global expansion by emerging market multinationals (EMMs) has been the adoption of mergers and acquisitions as a means to rapidly access new markets,assets and capabilities. More than 1,100 mergers and acquisitions were conducted by EMMs in 2006,representing US$128 billion in value3. y According to analysis of data from Thomson Financial, as many as 543 M&A deals were completed by Indian companies both at home and abroad in 2007, with a total value of US$30.4 billion. This represents a compound annual growth rate (CAGR) of 28.3 percent in deal value over the period 2000-2007
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Conclusion