Management Concepts

Managing and Leading Change Effectively in Organizations

Organizations experience change due to factors that may be internal or external. While an organization can control internal factors, external factors are outside the control of an organization. However, change is inevitable in an organization and therefore all Organizations must put proper measures in place to ensure that change is embraced.

Organizational change is prompted by factors both internal and external to an organization. An example of an internal factor that may cause a change in an organization includes changes in management. This is especially the case when there is a need to replace the existing managers due to retirement transfer or promotion.… Read the rest

Abey Francis

Social Entrepreneurship and Commercial Entrepreneurship: Similarities and Differences

The vocabulary of “entrepreneur” originally came from French economics, which means someone undertakes a significant project or activity. Jean Baptiste Say indicates that entrepreneurs especially be used to describing venturesome individuals who advanced economic progress using new and better ways of doing things. Joseph Schumpeter identifies entrepreneurs are change agents in the economy, who drive the process of capitalism. Both Say and Schumpeter regard entrepreneurs as someone engaged in new, profit-seeking business ventures, through which serving its responsibilities.

While contemporary management and business hold a broader view of entrepreneurs. According to Drucker, entrepreneurs are those who search for change, responds to it, and exploits it as an opportunity.… Read the rest

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14 Secrets of Successful Team Building

A team is where a group of individuals work together and help to all achieve the same goal or outcome. A team is an organized group of people who work together cooperatively and collaboratively. They coordinate their efforts to the same purpose and work towards achieving shared goals. All team members share joint accountability, mutual trust, and respect, and work to achieve shared goals. In a team, there tends to be a common team purpose where individual team members’ talents are put together to achieve a common purpose or goal.

When building a team, you need to make sure individuals are aware of their job role and responsibilities and if so, who’s taking leadership and who’s accountable for each task.… Read the rest

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14 Tips on How to Build Effective Teams

When building a team, you need to make sure individuals are aware of their job role and responsibilities and if so, who’s taking leadership and who’s accountable for each task. There needs to be clear lines of responsibility and authority. Individuals must be aware of what task needs to be achieved, when and how they are going to accomplish this. Team members should have the required skills to be able to carry out tasks and duties effectively. To build a team you need to gain each individual trust and loyalty, making them feel part of the team so that individuals do not feel fearful of people in leadership roles.… Read the rest

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Leading Versus Managing – A Comparison

In this era of globalization for today’s workplace, people always like to say that “A manager may be a leader; a manager may not be a leader, but a leader may emerge who is not a manager.” So what its means of this phrase? It means that a leader and a manager could be different. For example, an outstanding leader may have superior management skills, but not all managers could possess true leadership skills. In short, it is possible for the role of manager and leader not to be connected at all. This phrase is important to prove that having both talented managers and dedicated leaders make the business success.… Read the rest

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Risk Management in Business

Kaplan and Garrick (1981, p. 12) provide a simple equation for risk, which is “risk = uncertainty + damage”. They believe that it is irrelevant as to what context risk exists in, and that the same equation can always be used to identify and manage risk. However, risk can still be categorized differently depending on what facet of the organization it is affecting.

Before a risk management strategy can be decided upon, the risk event must first be identified. An organization should conduct three steps before deciding on the best risk management strategy to use. As risk management can use a substantial amount of resources, clarification and direction should be decided upon before conducting risk management.… Read the rest

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