21st Century Management
Revolutionizing Approaches to Management to Remain Competitive
Introduction
This paper confers the most significant issues that management confronts as we come to the end of the first decade of the 21st century. This issue was expressed by Daft (2010) as “new approaches to organizing and managing people are crucial for companies to attain durable competitive advantages in the 21st century” (p. 91). This problem is more crucial than any other issue challenging management because of the subsequent three reasons: 1) conventional approaches to management are obsolete; 2) current management styles limit creativity and innovation; and 3) empowered employees are a valuable asset. The principles underlying management were pioneered countless years ago, and now must be transformed to meet the needs of a new generation of business. In the decades to come, management will be compelled to embrace new methods of organizing and managing people in order to remain competitive. In this paper, I will discuss the traditional style of management, and the inherent drawbacks that plague today’s organizations.
Conventional Approaches to Management are Obsolete
The traditional hierarchical organizational designs are not agile enough to adjust rapidly to consumer demands, and to remain competitive in the market. Today, the organizational requirements of management are generally met by a horizontal, vertical, or a hybrid design. Unfortunately, these outdated management models offer very little ability for an organization to flex given that decisions flow from the top of the management hierarchy to the employees at the bottom. Those who make decisions at the top of the organization can quickly become congested with requests because too much responsibility is generally directed to them rather than dispersed throughout the organization (Daft, 2010, p.126). These types of arrangements can cause “delayed decision making, lack of innovation, poor employee performance and excessive
Introduction
This paper confers the most significant issues that management confronts as we come to the end of the first decade of the 21st century. This issue was expressed by Daft (2010) as “new approaches to organizing and managing people are crucial for companies to attain durable competitive advantages in the 21st century” (p. 91). This problem is more crucial than any other issue challenging management because of the subsequent three reasons: 1) conventional approaches to management are obsolete; 2) current management styles limit creativity and innovation; and 3) empowered employees are a valuable asset. The principles underlying management were pioneered countless years ago, and now must be transformed to meet the needs of a new generation of business. In the decades to come, management will be compelled to embrace new methods of organizing and managing people in order to remain competitive. In this paper, I will discuss the traditional style of management, and the inherent drawbacks that plague today’s organizations.
Conventional Approaches to Management are Obsolete
The traditional hierarchical organizational designs are not agile enough to adjust rapidly to consumer demands, and to remain competitive in the market. Today, the organizational requirements of management are generally met by a horizontal, vertical, or a hybrid design. Unfortunately, these outdated management models offer very little ability for an organization to flex given that decisions flow from the top of the management hierarchy to the employees at the bottom. Those who make decisions at the top of the organization can quickly become congested with requests because too much responsibility is generally directed to them rather than dispersed throughout the organization (Daft, 2010, p.126). These types of arrangements can cause “delayed decision making, lack of innovation, poor employee performance and excessive
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