Modern Management Concepts

Effectuation – New Paradigm of Entrepreneurship

The business world is permeated through and through this kind of rationality, based on what we see is happening today in the world, what are the trends? what will be the consequences? are forecasted the solutions in a business environment.

However, according to Saras Sarasvathy, it is not how entrepreneurs think. The thought process is not “causal” but “effectual”. When a project is approached, the entrepreneur has three means skills: his own innate abilities, skills acquired through education and personal contacts. The entrepreneur is guided by a simple maxim: “To what extent can we control the future, we do not need to predict it.”… Read the rest

Abey Francis

Role of Organizational Climate in Facilitating Innovation

One of the most important roles that the leaders play within organization settings is to create the climate for innovation. Organizational climate is a key factor in innovation implementation. Building up an innovative culture in an organisation is one of the important tasks of an innovative leadership. At the same time, creative organizational climate is one of fundamental elements that leads to success of innovation. Doing so successfully will certainly further secure and strengthen the leadership, which initiates innovative climate in the first place. This success will also bind more followers to the leadership because of its respective contributions for innovation, or in another word future success.… Read the rest

Abey Francis

The Role of Leadership in Innovation

Now more than ever, companies are putting more attention to innovation that make their products and services more competitive, thereby enable them to survive and flourish in the changeable and challenging global environment. Innovation is regarded as a key driver of competitive advantage in organizations.

Innovation is defined as the first attempt to carry out a new creative idea, and translate it into practice. However, it isn’t easy; it’s a difficult and complex task. There are two primary factors influencing the success of innovation: technical resources (people, equipment, knowledge, money, etc.) and the abilities in the organisation to manage these resources to encourage innovations.… Read the rest

Abey Francis

What is Sustainability?

The interest in sustainability has grown over recent years and is shared among a variety of national and international organizations, special interest groups and corporations around the world. Sustainable business practices are becoming a worldwide business requirement. Some of the main sustainability requirements have been stated explicitly by many different organizations. A widely cited definition of sustainability is attributed to the United Nations Brundtland Commission and reads as follows: “meeting the needs of the present without compromising the ability of future generations to meet their own needs” (WCED, 1987).

Another set of requirements describes the broader and more specific application of sustainability and can be seen in the ten principles of the UN Global Compact which was enacted in 1999.… Read the rest

Abey Francis

Salovey and Mayer’s (1990) 10 Original Facets of Emotional Intelligence

Emotion is a relatively difficult concept to clearly delineate but it is generally accepted that it is an organised mental response that includes physiological, experiential and cognitive aspects.  Emotions are largely, but not exclusively, related to interpersonal relationships and specific emotions are relatively resistant to cultural and individual differences, although these can affect the way in which emotions are expressed or perceived.

Personal intelligence is defined as the feelings and emotions of oneself and the ability to understand and interpret these feelings in order to guide behaviour.  This can be expanded into emotional intelligence by including the application of this knowledge to other people and also to regulate actions based on it.… Read the rest

Abey Francis

Emotional Quotient (EQ) Vs. Intelligence Quotient (IQ) – Which One Is More Important?

Intelligence is a term that is difficult to define, and it can mean many different things to different people. Intelligence is often defined as the general mental ability to learn and apply knowledge to manipulate your environment, as well as the ability to reason and have abstract thought. In education, Intelligence is defined as the ability to learn or understand or to deal with new or challenging situations. In psychology, it is the ability to apply knowledge to manipulate one’s environment or to think abstractly as measured by objective criteria; for example IQ test. It is thought from deriving a combination of inherited characteristics and environmental such as developmental and social factors.… Read the rest

Abey Francis