Management
QUESTION I
Discuss five (5) factors that have important consequences for managing an organization in the 21st Century.
(20 marks)
Management is the process of administering and coordinating resources effectively, efficiently and in an effort to achieve the goals of the organisation. There were many changes in the economy and its society, there will continue to change be changes , and the rate of changes continue to increase. Importance factors that have changed considerably, some in a very short time and some that continue to change. They all have importance consequences for manging an organisation. The factor are the internet and information technology, increasing globalization, increasing diversity, intellectual capital and increased emphasis on ethics.
Internet and information technology
Internet and information technology has changed some of the aspects of how business is conducted. Organizations can have almost instant feedback about result with sophisticated information systems. For example a business who sell a good equip with a website or an email that will receive a feedback from customer and also supplier will know all the news instantly.
They also can give needed information to people throughout the organization so that they can perform better, for example the general manager want to give an information to his/her subordinate during her/his absent, so that he/she can sent through an email or video conference. Beside that very thight links can established between suppliers and organizations that can exchange information to coordinate their operations. Customers can get information about product and service on the internet. They can make comparison between the price from several shop on the internet. The internet also makes the market for many products and services global.
Increasing globalization
Globalization, there continues to be more companies moving various parts of their operations to a larger number of countries. For
Discuss five (5) factors that have important consequences for managing an organization in the 21st Century.
(20 marks)
Management is the process of administering and coordinating resources effectively, efficiently and in an effort to achieve the goals of the organisation. There were many changes in the economy and its society, there will continue to change be changes , and the rate of changes continue to increase. Importance factors that have changed considerably, some in a very short time and some that continue to change. They all have importance consequences for manging an organisation. The factor are the internet and information technology, increasing globalization, increasing diversity, intellectual capital and increased emphasis on ethics.
Internet and information technology
Internet and information technology has changed some of the aspects of how business is conducted. Organizations can have almost instant feedback about result with sophisticated information systems. For example a business who sell a good equip with a website or an email that will receive a feedback from customer and also supplier will know all the news instantly.
They also can give needed information to people throughout the organization so that they can perform better, for example the general manager want to give an information to his/her subordinate during her/his absent, so that he/she can sent through an email or video conference. Beside that very thight links can established between suppliers and organizations that can exchange information to coordinate their operations. Customers can get information about product and service on the internet. They can make comparison between the price from several shop on the internet. The internet also makes the market for many products and services global.
Increasing globalization
Globalization, there continues to be more companies moving various parts of their operations to a larger number of countries. For