ARTICLE ON MANAGEMENT & TODAY'S PACEY WORLD

DOES MANAGEMENT REALLY WORKS?

1.     Executive Summary / Abstract

The main and the core theme of the article are related to the management related issues in the today’s world. Author of the article tries to explain that effective management strategies can bring a positive change in any organization rather it is a manufacturing company or a school or a hospital. Good and better management can increase the performance of this organization dramatically. It is the need of the world today. Good management skills can be the game changer for any organization irrespective of what is the geographical location of it. It can not only create efficiency in the business but also boosts the profit margins, employee’s satisfaction and customer satisfaction etc. Effective management not only includes how to engage the employees but also it emphasizes on how to use the surrounding like machines, place etc for achieving the goals. Quality management can increase the quality of work to make it a better place for work. A good manager can be a catalyst for any organization. According to the article an organizations are more likely to succeed if they adopt good management skills. It may take some time to give out the results, it can be a slow process but eventually it will help in the overall performance of the organizations.

Another point which is highlighted by the author refers to how the companies are managing their employees. Are they managing them effectively and efficiently or they don’t have any type of such system for them. Are they monitoring, collecting and analyzing the performance data to identify opportunities for improvement. Better management is strongly correlated with productivity, employees performance etc. The author tries to drive our attention towards the need of the hour. We, humans need to learn management skills in order to manage things well within the provided means and scares resources. The world needs to realize that better management can create better opportunities, better facilities, and better way of living and better facilities for the employees.

2.     Does Organizations need Good Management

Globalization is considered to be one of the most critical phenomenons of the 21st century as more and more firms are looking to grab the growth of other economies outside their local market or to capture a huge market share in the local market to create a monopoly. However, successful organizations need good management in order to achieve such goals. A company cannot work effectively if its management skills are not strong. Effective management can create better opportunities for everyone. Big corporations and multinationals that are carrying out its businesses all over the world have strong management systems. They know how to manage things and how to compete with the rivalries. Better management can lead to better business. Competition is very tough due to skilled and large number of competitors. The rate of customer satisfaction is getting higher and higher due to hard competition. Good management skills lie with the good leadership. If an organization holds a good leadership than there lies between good management skills.

FOUR KEY QUESTIONS OR THESIS STATEMENTS/ARGUMENTS THAT THE ARTICLE PROPOSES ARE:

3.     Does the organization support long-term goals with tough but achievable short-term performance benchmarks?

In my opinion it’s true that short-term performance benchmarks are achieved affectively than it will ultimately lead to the achievement and support the long-term goals and targets of the company. Increase in the Short-term performances in various aspects of the company can impact the long-term goals positively. Increase in the productivity but at a slow pace can and will ultimately lead to increase in the overall rate of the profits of the company. Tough decisions that are taken by the management will benefit and support the long-term goals. Poor achievements in short-term targets lead to overall instability of the organization which sometime lead to insolvency and in the long-term company may have to close its operations due to this instability.

4.     Does the organization reward high performers with promotions and bonuses while retaining or moving under-performers?

Another issue arises, does the organization reward high performers while retaining or moving under-performers. Increase in the satisfaction of the employees can directly affect the performance, efficiency and production rate which may be the short-term goals of the organization and increasing satisfaction can ultimately direct organization towards achieving the long-term targets of the company. To increase the satisfaction of the employee’s organization should have plans to reward them financially or by giving promotions or any other means. Every company needs a reward system for its employees. There should be a system that could not only monitor the performance of the employee but also the good/bad behavior so that he could be rewarded on the basis. In some companies the bonus and rewarding system is so embracing and complex that it is nearly useless for them. In such case the employees will not deliver and give 100% of what they posses and can do. Rewarding the performers is not difficult as it can be easily measured and evaluated but the other and main issue is how to reward a specific behavior for attaining good behavior.

Another issue is what to do with the under-performers? Do the company need and wants to retain them or they want to move the employee. Dealing with the under-performers in an organization that has no or small hierarchy is also not easy. Organizations have a very low tolerance level for these under-performers but studies suggest that the attitude of these under-performers is not due to lack of talent but due to the behavior of the managers. So, if we able to change the behavior of these managers and implement good management than these under-performers can perform better than ever. Another issue of which can be described and which can be considered as the problem due to which they are categorized as under-performers us due to excess of work burden on these employees. Due to overload they cannot perform well and give their 100% to the organization. If they are managed well they can prove to be high flyers.

5.     Does the organization rigorously collect and analyze performance data to identify opportunities for improvement?

One of the questions is that does the organizations rigorously collect and analyze performance data to identify opportunities for improvement? Can be turned out to be really an important one. In today’s world, measuring performance data is necessary within the performance management process. All high performance organizations whether they are private or public need and are interested in collection and analysis of performance data of employees.

Following are the steps to measure and analyze performance data of the employees.

a.    Planning

b.    Monitoring

c.    Assessing

d.    Analyzing

e.    Identifying problems

f.     Finding solutions

g.    Implementing

The purpose of collecting and analyzing the performance data is to prove what has been achieved. Are the results according to the desire or not. Does the organization attain the targets which were set at the time of inception? Are the targets practically achievable or not? By analyzing the performance data, future decisions are made. Strategies are defined according to the results. The data is also collected in order to identify the performance of the employees. Are the employees managing the work effectively and if not than what should be done so that they can manage work with ease.

6.     Can improved management principles be applied to complex worldwide problems solving?

It is one main and practical questions of this discussion. Is it obvious and true that by applying good management principles we will be able to achieve complex problem solving of worldwide problems or it can only be implemented on manufacturing organizations. Well, according to the author these complex problems can easily be solved if we apply good and positive management skills in any sector whether it is a school or a hospital. Good management can be implemented anywhere around the world to get good results. The facilitation that any organization is providing can be better if good management skills are implied anywhere. Everyone can be benefited if they apply good and positive management skills. In today’s world, the success of the organizations is based significantly on management practices and intellectual capabilities than in its physical assets. Highly motivated and creative organizations often perform well than the organizations with more physical power or financial resources. Without these creative management skills the organizations cannot perform well anywhere around the world. Complex problem solving skills can lead to a better world. It is the new emerging studies of today’s world. At present, great management skills are needed badly in order to identify the main problem and then solving that problem. The leading management consultants consume a huge amount of resources for the recruiting purpose. Top graduates of the leading business schools are screened and monitored in order to find the right type of person the company wants to solve the complex problems so that they could achieve the targets or the goals set. For example, Microsoft interviews hundreds of highly recommended people for each key software designer it hires. Poorly managed organizations cannot perform well due to the lack of problem solving skills. Problems are small but no one looks or identifies it and hence the result comes out in terms of loss. In order to minimize this loss and boost efficiency good management skills are required in both personal and professional life.

7.     Are organizations more likely to succeed if they adopt good management practices?

Good management skills and practices can participate in the succession of any organization and it plays a vital role as well. It not only benefits the organization in the short term period but in the long run, these good management skills can contribute a lot in managing and getting positive results from it. By extensive research it is proved that the poor management skills are creating deficiencies and companies have to bear heavy losses in terms of financial loss or customer satisfaction act. Therefore, by adopting these practices organizations can and will perform well. There are different types of managerial skills that one can develop and implement in various sectors to get good results. These management skills includes

a.    Personal skills

b.    Interpersonal skills

c.    Group skills

8.     CONCLUSION

To summarize the discussion and to draw a conclusion from the aforementioned subject we could say that management is an important part of today’s world. Every organization needs good management in order to cope the problems that arise during the discharge of the duties. Without efficient and effective management skills it is nearly impossible to carry out operations with good efficiency and perfectly. .Every organization needs good managerial skills. It is the need of the hour. In today’s global village and great competition it’s nearly impossible to do business without excellent management skills. Customers, employees, stack holders etc everyone demands satisfaction. Small negligence’s can lead to disasters end of the organization. Competitors will take the hold and carry the position.

Management is also important to achieve long term goals by completing the small ones. Small targets are given and if they are achieved by managing them efficiently they will ultimately lead to the achievement of long term goals of the organization. Increase in the productivity can contribute towards the main goals set by the company. And the goal of increased productivity comes with better management. Performance data collection and analysis can also lead to increase in the productivity.

The world needs managerial skills. There should be more emphasis on this subject as it is the emerging field of today’s world. Every organization whether it is a manufacturing business or an education or health facility center, everyone needs good management. Without it, achievement of the targets set by the organizations is impossible sometimes.