Post on comment as soon as possible thanks I feel my definition of Management wa
ID: 400074 • Letter: P
Question
Post on comment as soon as possible thanks
I feel my definition of Management was simplified as compared to the definition(s) found in the text. In _Management_ by Hitt, Black and Porter (2012, Third Edition), they elaborate more on the “assembling and using sets of resources (human, financial, material and informational).” It discusses how employees with differing roles come together in a specialized formation to achieve strategic goals. One of the most notable challenges managers today encounter is that of managing in an ever-changing marketplace. Two of the most significant attributes of change are Technology and Globalization, as noted in the text, _Management_ by Hitt, Black and Porter (2012, Third Edition): “Essentially the development of new technologies has increased the speed of change, the flow of information, the amount of competition into international markets, and the amount of competition in all markets.” However, we must realize the relation of human knowledge and specialized skills to that of technology. Although workforces have continued to decrease as more evolved programs and systems are put into place, the need for employees (and therefore managers) remains to facilitate the operation and improvements of these and forthcoming technologies. With Globalization, more managers are needed to ensure the seamless integration of the organization into existing and emerging markets. The instability that can come from operating in foreign markets, being that of negotiating trade regulations, political climates and unrest, availability (or lack thereof) of a skilled and fluent labor force, all prove that Technology, alone, cannot “rule the world”. Even still, human intelligence and reliability are necessary. Managers are tested daily with these such issues
Explanation / Answer
Management can be defined as a process of tactfully utilization of resources. Resources may be human or non -human resources. In functional view ( Henry Fayol) , it can be seen as the set of activities performed in planning, organizing , leading and control to achieve some organizational goals.
Now a days, manager face many challenges like changing marketplace, information overload, globalization etc. These challenges can be solved with skill development like impersonal skills, human skills, technical skills and political skills. Even, technological advancement can be utilized to make management more efficient and effective one.
The need of hour is to critically judge the relevance of technology in management. People feel that human touch and experience is more important than communication over technological equipment or tools of conversation. A sound management practices will be focused on sustainable business development and getting a competitive advantage in the marketplace.