Assessing the Role of Managers in Various Contexts - Coursework Example

MODERN MANAGEMENT Name Course Instructor Institution City and State Date MODERN MANAGEMENT As fallen Apple visionary, Steve Jobs once said, “Any given organization is only as good as its management” (Howell 2012, 84). The progress – or lack thereof – in any particular business is a reflection of its top leadership. In the organizational setting, crisis is inevitable; what really matters is the course of action undertaken in the face of organizational crisis. Experts observe that failure often comes in the form of a vast discrepancy between what managers say and how they act and implement the desired organizational goals. As such, the way managers conduct themselves in the course of decision-making simulates their outlook on effective executive action. In the current organizational landscape, there have emerged various dynamics calling for a re-evaluation of the ‘one best way’ approach to management. Amid various uncertainties both from within the organization and outside, there is a growing need for a change in managerial approach to suit the changing dynamics. Sticking to the hitherto ‘one best way’ approach would be unrealistic, say for instance, in face of economic recession, changing consumer patterns, downsizing or expansion. As it appertains to management in the current business world, the hitherto ‘one best way’ management model proves insufficient for managers looking to steer their companies into the path of progress or recovery. As such, Modern management is situational in orientation and denies the ‘one best way’ approach’. Assessing the Role of Managers in Various Contexts Talent Management As Wall Street guru, Warren Buffet, insists in his leadership memoirs, the fundamental role of managers is talent management. Talent management, as used in this context, refers to setting up of organizational plans to address the human capital required to achieve various organizational needs to oversee progress during various phases. During an economic recession, for instance, the goal of talent management often changes. Likewise, the transition from economic turmoil towards recovery requires a clear-cut articulation of the goals, targets, and expectations that would steer a company towards a path of progress. As part of their routine strategy, various managers often choose to run their respective companies by adopting the ‘one best way’ approach. For instance, during economic recessions, some opt for downsizing by way of retrenching a section of employees (Arthur 2011, 89). Through such strategic operations, the corporate strategists and leaders often downplay the value of talent management in the organizational mainstream by failing to realize that talent management is a sin qua non for fostering productivity in preparation for economic recovery. Economic experts reckon that the current economic recession fundamentally changed ways in which managers develop, engage, and manage corporate employees. The time has come for managers to stop playing defense and go on offense on the issue of talent management (Axelrod 2002, 88). Change Management In an economy dominated by uncertainties emanating from frequently changing business dynamics, managers must be competent enough to devise appropriate measures to adopt to the ongoing changes. This would not be possible if they rely solely on the ‘one best way’ managerial approach. There needs to be a more integrated plan to address the emerging issues in the new economy. This calls for a proper and flexible change management plan. They key role of managerial leaders, therefore, is to authenticate and convincingly address the designated organizational targets, goals, and objectives by overcoming any challenges. Research shows that the discharge of such managerial duties customarily requires that managers engage other members of the organization including significant external stakeholders. The process of persuading other members often starts with the development of a convincing vision for the company and how to achieve the vision within a reasonable time frame(Howell, 2012 84). A vision offers a picture or reflection of the future that is simple to communicate and that organizational members find interesting. Managerial leaders also have an obligation of building change and decrease resistance to it through extensive involvement in the change strategy and other means. Those that strive for key organizational changes typically confirm that triumphant leaders acknowledge that change comprises a political process of creating and fostering support from key stakeholders and organizational members. Mostly those in organizations refuse to give in to change for diverse reasons — for instance, some thoughts for change are rather ill conceived, unfounded, or pose harmful effects for members of the organization. Even after embracing a well-justified and well-planned change idea, nevertheless, leaders must create internal support and trounce resistance. Researchers observe that a predicament, a shock, or even a strong external challenge to the organization can assist decrease resistance to change. Since organizational members are highly adjustable to steadily rising conditions, a shock or stimulus of considerable degree is typically necessary for them to embrace change. More recently, researchers have further diversified numerous approaches of reducing resistance to change. A “dual approach” that develops pride in the history of the organization and previous success while establishing new approach of carrying out activities appears also to be efficient at minimizing resistance to change. The extent of engagement is also significant. Extensive participation in the change process is possibly the most commonly recognized strategy to surmounting over resistance to change. Numerous researchers whose core focus lies on private organizations asserts that designed change needs widespread engagement by members at multiple levels of the organization during all steps of implementation process . The literature shows that engaging organizational members assists decreases challenges that bars change. This is possible through developing psychological ownership, encouraging the spread of significant information, and promoting employee response for fine-tuning the change during execution. Involvement presents the public sector with a contingency. Managing Talent in a Turbulent Economy According to the projected findings retrieved from the report of the yearlong Managing Talent in a Turbulent Economy survey, there are various fundamental considerations for managing the emerging challenges of the new economy. The survey indicates that these milestone considerations can enable managers adjust and position themselves strategically for the projected economic upturn as they implement various strategies to develop new talent while retaining the talent necessary to steer their companies back to the path of progress. In an annual press release, Deloitte Consulting LLP’s CEO Jeff Schwartz indicated that based on the company’s series of surveys and independent research, many talent managers were then planning to use pre-recession playbooks as the cornerstone for managing their talent programs. The CEO however, expressed his concerns on relying on old methods to address a complete set of new talent challenges. Schwartz warned that this might prove detrimental in the present-day global economic order, which has been seen as desperate for innovation. Sources indicate that dating back from January 2009, Deloitte had been undertaking a series of longitudinal surveys. The purpose of the surveys, as company CEO revealed in the press release, was to assess the manner in which talent managers and senior executives are redefining their strategies for the transition from deep economic recession to recovery. Deloitte’s report presents six key guideposts as discussed below. Getting Priorities Right Deciding who goes and who remains behind should not be the cornerstone of talent management in face of economic recession. This is the first guidepost for talent management during a recession as stipulated by the Deloitte report. In some cases, companies may use economic resources as an excuse to retrench the less productive segment of the firm. According to economic experts, there is a psychological impact of this kind of arrangement on the remaining staff following the layoffs. For instance, the remaining employees may feel overloaded since they would have to undertake prior jobs exercised by their dismissed colleagues (Corporate Leadership Council 2013). Likewise, they would have to undertake their jobs amid growing tension and suspense of looming layoffs. As a result, selective hiring and retrenchment of employees is not a solution; it compromises talent management for the aforementioned reasons. Balancing Talent Leadership The need to develop new talent while retaining old talents to meet emerging competitive demands of economic recovery is a quintessential milestone for overseeing talent management during a recession (Howell, 2012 84). Deloitte’s report highlights the development and retention of talent as the second milestone for talent management during a recession. Since it has already been established that selective hiring and firing is not the solution, retention and development of talent within the organizational mainstream becomes the biggest challenge for talent management. In an attempt to tackle this challenge, it is vital to gain a core competitive edge over rival firms in the market mainstream. There is need for strategic corporate espionage aimed at taking advantage of emerging talents that are available in the market. Teambuilding is essential for effective talent management since it fosters cohesion and collective participation within the organizational mainstream (Howell, 2012 84). Once employees feel that they are integral parts of the organization, as opposed to mere disposable pawns, they develop a collective team spirit. This will cultivate their talents and double their efforts. Incorporating Technology Talent management during a recession can be enhanced through the adoption of state of the art technology, which in turn helps in the development of various competencies through effective high-tech training. Presently, individuals can be trained more efficiently through the help of modern technologies. Before his demise, Steve Jobs had steered Apple in an unprecedented path of technological innovation that was perhaps the most defining one in modern history. Jobs legacy shaped the course of modern history by investing in technology. As a result, the company registered a resounding success period in face of economic turmoil, liquidity crisis, and global credit crunch. Technology enhances talent management and in an attempt to achieve this, it is always crucial to have competitive technological advances over other rivals. Technological knowhow also gives a competitive edge to a business (Howell, 2012 84). Organizational communication is an integral part of talent management whether it is in times of economic recession or recovery. According to Professor Gibson Hathaway from Stanford University, communication is vital for the smooth management of a company since it enables the flow of information from the highest chain of command to the lower levels of staff and employees. As discussed earlier, retrenchment is detrimental to organizational progress during recessions, however, if it is established that laying off a section of workers is the most plausible course of action in view of various factors, proper communication has to be deployed to oversee such retrenchments. The lack of proper communication leads to unnecessary lawsuits and huge sums of money would be spent in litigation while that money could be useful for other strategic reasons. The Deloitte report indicates that communication is an essential milestone for overseeing proper talent management within the organizational mainstream. Communication bridges the gap between the transitions from economic recession to recovery and as such, proper communication ought to be embraced (Hackman & Johnson 2012, 25). Employee Motivation SHL CEO David Leigh believes that motivation and engagement of employees is the key to proper talent management with and organization. Echoing the same, the Deloitte report indicates that engaged and motivated employees are usually enthusiastic and they develop a positive job attitude, which in turn translates into better performance. According to a seminal pamphlet dubbed "Motivating and Engaging Employees through the Recession” released David Leigh, motivation and engagement results into less absenteeism, more productivity, and lower turnover within the organization. Leigh articulated the following findings from a survey conducted prior to the release of the pamphlet. The statistics for destruction impact of low motivation was as follows: 46 % (stress), 47 % (procrastination) and 30 % (in perpetual pursuit for a new job). The survey conducted by SHL involved a total number of 3992 respondents (Hackman & Johnson 2012, 71). Leigh’s inference following the survey was that motivation is the key to proper talent management. He believes that in motivating and engaging employees, organizations should note the difference in preferred job features amongst different age groups and between genders. For instance, ‘fairness’ has a relatively higher priority among female staff as opposed to male staff in the organization while ‘high standards’ ranks higher in males in comparison to women (Hackman & Johnson 2012, 21). In addition, ‘quality of social contract’ and ‘career progression’ gets less important as workers grow older (Heifetz et al, 2009). Conclusion As witnessed in the present-day global political economy, change is perhaps the most predominant phenomenon. As it appertains to management in the current business world, the hitherto ‘one best way’ management model proves insufficient for managers looking to steer their companies into the path of progress or recovery. The insight to proper management as offered by various authors should serve not as an avenue but as a guide for managers seeking to find their way in the course of the sustained, persistent, and challenging pressures of the novel global economy. The research in turn proposes a vigorous, varied, and quite challenging program for future management, an approach that is comprehensive. Amid various uncertainties both from within the organization and outside, there is a growing need for a change in managerial approach to suit the changing dynamics. As such, Modern management is situational in orientation and denies the ‘one best way’ approach’. Bibliography Hackman, M. & Johnson, C, 2012, Leadership: A Communication Perspective, Long Grove, IL: Waveland Press, Inc. Howard, A. & Wellins, R, 2010, Global Leadership Forecast, Pittsburgh, PA: Development Dimensions International Howell, J, 2012, Snapshots of Great Leadership. London, GBR: Taylor and Francis. pp. 16–17. Read More