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The Transformation of Management Principles in Ernst and Yong - Case Study Example

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The paper "The Transformation of Management Principles in Ernst and Yong" states that success of the practices of E&Y, however, can be gauged from the ever-increasing numbers of the companies and, organizations adopting it into their domain and implementing them profitably…
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The Transformation of Management Principles in Ernst and Yong
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Download file to see previous pages The world is becoming a global village. The evolution process has changed the face of the earth and all her nations. The economy has changed and so have the governing principles on which they are based. Hence, the managing techniques for the betterment of quality in living and communication have undergone metamorphosis too. At the workplace, change is a constant factor; growth and progress are prerequisites to survival in a competitive atmosphere. The process of adaptation and reformation happens at various levels and varied paces in each organization. How commercial organizations and the people within the organizations, transformed while contributing themselves to transformations, can be understood through case studies of various examples. The studies offer valuable insight to the aspiring next generation, to gain knowledge, from the predecessors and innovate based on their experiences. This was a new tool in management, imperative for meaningful growth in the modern age – Knowledge.
Knowledge is an organizations most valuable asset. The acquisition of skills, and application of whatever knowledge thus learnt, in a given situation, can be defined as knowledge. In fact, Knowledge is defined as “a function of information, culture, and skills” (Rampersad, 2001): = f (, < Culture>, ). Where in, the function stands for the relationship between knowledge, and information, culture and skills, all the three together. In this context information consists of the meaning given to information obtained according to certain conventions; this is also known as explicit knowledge (Nonaka & Takeuchi, 1995). The creation, capture, and leverage of institutional knowledge are critical to innovation and success. Organizations preserve all of the information collected to ensure availability of the same, to new generations of researchers. This is done means of employing good information management techniques. ...Download file to see next pagesRead More
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