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Contemporary Management Problem - Essay Example

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Contemporary Management Problem Table of Contents Table of Contents 2 Business Management 3 Contemporary Management Problems 4 Business Ethics 5 Nortel Networks Corporation 7 Management Problems for Nortel Telecommunication 8 Impact of the Problem on the Business 9 Final Consequences 9 Application of Management Theory 10 References 11 Business Management Business management is a broad term used by management researchers to define various elements of business operation…
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Download file to see previous pages Organizational sustainability depends on efficiency of management team. The organization is not a mere set of employees or top management. Organizational sustainability depends on synchronization between top level management, middle level management and lower level management. Business management helps to integrate functions of each department to increase the efficiency of service delivery. Business management plays a cordial role to solve critical organizational issues (labour related problem, irregular trade practices, employee disruption, maintaining transparency between each department’s works, designing vision and mission statement and maintaining a stable organizational hierarchy). Many companies use Business Crisis Management (BCM) and Continuity Management (CM) to identify and solve business related problems. Centrality of management functions revolves around few departments of the organizations. Various departments (like production, marketing, finance, operation) play pivotal role to decide the dynamics of business management. Business management plays important role in solving people related issues of management. Many organizations have failed due to poor performance of top level management in last few years. ...
Learning organization concept has been used by many management research scholars to distinguish between successful and failed organizations. Learning organization can be described in the following manner. The organization gives importance on acquiring or creating and transferring information and knowledge (Porth and McCall, n.d.). Four key things are important for a learning organization. They are- 1-problem solving in an ethical and systemic manner, 2- encouraging new thoughts or process to change the management functions, trying to learn from past mistakes committed by other organizations, 3- trying to maintain equilibrium between good business practise by other organizations and self evaluation, 4- maintaining transparent communication dynamics across the organization. Free flowing communication model helps to spread the knowledge across every department of organization (Garvin, 1993, p. 81). Many organizations failed to maintain a steady business policy to create a sustainable organizational structure. Various management problems are explained in the following section. Organisational structure (problems regarding management hierarchy, board members are not very clear about their responsibilities, lack of communication between different functional departments). Leadership (organization is running without any mission and vision statement, organization is managing business without any long term objectives). Motivation (lack of motivation among employees to perform a particular task, lack of support from the top level management creates communication gap between them and employees). Business ethics (many companies fail to maintain fair business ...Download file to see next pagesRead More
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