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EMERGING HORIZONS OF MANAGEMENT IN CHANGING ENVIRONMENT -Monirba {Allahabad university} Supported by – Manish kanojia (MBA III sem} NIKHIL SINGH 1

Emerging Horizons

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EMERGING HORIZONS OFMANAGEMENT IN

CHANGING ENVIRONMENT -Monirba {Allahabad university}

Supported by – Manish kanojia (MBA III sem}

NIKHIL SINGH

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Emerging: To start to exist or become known

Horizon: The furthest you can see, limit of mental perception, experience, interest etc.

Environment: The condition that affect the behaviour and development of something

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Uncertainty of environment

To cover areas untainted by competition.

Competitive edge.

Better services to consumers.

Why to study?

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Mergers and acquisition Anticipatory management Risk management Crisis management Knowledge management Microfinance Environmental management Managing security threats Newer organizational design and challenges Increasing quality consciousness

Horizons and Challenges

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In business merger is a combination of two companies into one larger company. Such actions are commonly voluntary and involve cash payment to the target.

An acquisition, also known as a takeover, is the buying of one company (the ‘target’) by another. It may be friendly or hostile. In the former case, the companies cooperate in negotiations; in the latter case, the takeover target is unwilling to be bought or the target's board has no prior knowledge of the offer. Acquisition usually refers to a purchase of a smaller firm by a larger one. Sometimes, however, a smaller firm will acquire management control of a larger or longer established company and keep its name for the combined entity. This is known as a reverse takeover.

Mergers and acquisitions

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Synergy Increased revenue Economies of scale Taxes Resource transfer

Motives behind M&A

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In a complex and rapidly changing society, being anticipatory and gaining strategic advantage requires sophisticated intelligence gathering techniques, new decision process models, and practical accountabilities. Failure to anticipate can have destructive consequences.

e.g. GM failed to heed signals in the late 1960s of a potential energy crisis, or the increasing attractiveness of small, fuel efficient Japanese cars until GM's market share skidded almost 30% in the U.S.

    ANTICIPATORY MANAGEMENT TOOLS FOR THE 21st CENTURY

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The real strategic consideration is whether change will befall your organization as a series of crisis, or, will you be able to use foresight and anticipation to manage change in a calm, informed and systematic manner? Setting one's future agenda can only be done with sophisticated intelligence techniques, new models, and practical accountabilities. To survive and prosper in the future, you will have to perfect your outside-in thinking skills by relating the information from a strategic intelligence system about developments in the external world to what is going on inside your organization.

Change : essence of business environment

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Risk management

In risk management, a prioritization process is followed whereby the risks with the greatest loss and the greatest probability of occurring are handled first, and risks with lower probability of occurrence and lower loss are handled in descending order.

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Crisis management often includes strong focus on public relations to recover any damage to public image and assure stakeholders that recovery is underway. Three elements are common to most definitions of crisis: (a) a threat to the organization, (b) the element of surprise, and (c) a short decision time.

Crisis management

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It includes forecasting potential crisis and planning how to deal with them.

For example, how to recover if your computer system completely fails. Hopefully, organizations have time and resources to complete a crisis management plan before they convert in stress.

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Knowledge management

Knowledge Management programs are typically tied to organizational objectives such as improved performance, competitive advantage, innovation, developmental processes. From mgmt. point of view , knowledge workers are those individuals whose jobs are designed around the acquisition and application of information

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A significant Program to provide necessary capital to the poor for starting their own business.

It is receiving significant attention all over the world, especially in developing Countries.

The aim Of micro-finance is to develop habit of savings and financial vision

among the rural poor,

Micro finance

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The management of interaction by the modern human societies with, and impact upon the environment.

The main issues that affect managers are those involving politics (networking), programs (projects), and resources (i.e. money, facilities, etc).

A more common philosophy and impetus behind environmental management is the concept of carrying capacity. Simply put, carrying capacity refers to the maximum number of organisms a particular resource can sustain.

Environmental management is therefore not the conservation of the environment solely for the environment's sake, but rather the conservation of the environment for humankind's sake.

Environmental management

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Security management is a broad field of management related to:

Assets management, Human resource safety function. It is the set of functions that protects

telecommunications networks and systems from unauthorized access by persons.

Managing Security Threats

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Two newer organizational designs that have emerged recently are :

Virtual organization Boundaryless organization Challenges in organizationAre:Managing workforce Diversity,Providing effective Leadership

Newer organizational design and challenges

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Virtual organization

Network of independent institutions, businesses or specialized individuals, who work together in a spontaneous fashion by way of information and communication technology, in order to gain an extant competitive edge. They integrate vertically, unify their core-competencies and function as one organization

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A structure that is not defined by or limited to artificial

Horizontal Vertical External boundaries

Boundaryless organisation

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It implies that various categories of employees bring not only their skills and expertise but also their attitudes, motivation to work or not to work, and other personal characteristics.

Workforce diversity

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Developing trust Providing online leadership Empowering employee Gender differences Managing power

Leadership challenges

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It has generated the adoption of following practices:

(1)emphasis on total quality management (TQM)

(2)moving towards six sigma

INCREASING QUALITY CONSCIOUSNESS

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It can be defined as “ a philosophy of management driven by continual improvement and responding to customer needs and expectations.”

Total quality is called total because it consists of two qualities: quality of return to satisfy the needs of the shareholders, and quality of products.

Features of TQM: Intense focus on customer Concern for continual improvement Process- focused Improvement in the quality of every thing the organization

does.

Emphasis on TQM

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Six Sigma Means 3.4 Defects in 1,000,000. Six Sigma is a business concept that answers customer’s demand for high quality and Defect-free Business process.

It involves an organizational mindset in which people make decisions based on data, look for causes of problems, define defects based on customers rather than internal requirements, seek to control variation and prevent them from happening.

Six Sigma is carried out as projects and mostly uses DMAIC method

SIX SIGMA

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It seeks to identify and remove the causes of defects and errors in manufacturing and business processes. It uses a set of quality management methods and creates a special infrastructure of people within the organization ("Black Belts" etc.) who are experts in these methods. Each Six Sigma project carried out within an organization follows a defined sequence of steps and has quantified financial targets (cost reduction or profit increase)

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KAIZEN It means “change for

better” or “improvement”. It is an approach to

improvement of productivity through use of work of American experts such as F.W.Taylor by japanese after 2nd world war.

The goal of kaizen includes: elimination of wastes, just in time delivery, right sized equipment , standardized work.

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Organizational barriers: lack of support from management.

Attitudinal barriers: in the form of attitude towards training needed, management styles, approach toward quality

BARRIERS AGAINST TQM

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Management : Heinz Mark And Koontz Management : Robbins And Coulter Management : Stoner NCERT: Business Studies www.Wikipedia.com www.google.com www.answer.com www.youtube.com

REFERENCES

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