Green management is an approach to organizational management that seeks to reduce the environmental impact of business operations while improving business efficiency and profitability. The focus of green management is on sustainability, and it involves making decisions and taking actions that are environmentally responsible, socially beneficial, and economically viable. This article will discuss the concept of green management, its importance, benefits, and challenges, as well as strategies for implementing green management practices in organizations. The Concept of Green Management Green management is a proactive approach to managing a business in a way that minimizes the environmental impact of its operations. It involves adopting strategies and practices that reduce waste, conserve energy and natural resources, and minimize pollution. Green management goes beyond simply complying with environmental regulations; it involves taking a leadership role in environmental stewardship and sustainability. Green management practices can be applied in any industry, from manufacturing to retail, Continue reading
Modern Management Approaches
Argument Mapping – A Tool For Improving Your Critical Thinking
Argument mapping is a way to visually show the logical structure of arguments, where “arguments constitute a body of evidence in relation to some proposition (an idea that is true or false)”. It does so by having the user break up an argument into its constituent claims, and use lines, boxes, colors and location to indicate the relationships between the various parts. Thus, a map is produced which illustrates why a particular conclusion was reached by clearly outlining its reasons and objections. The resulting argument map allows us to see exactly how each part of an argument is related to every other part. Typically an argument map is a “box and arrow” diagram with boxes corresponding to propositions and arrows corresponding to relationships such as evidential support. Argument mapping is similar to other mapping activities such as mind mapping and concept mapping, but focuses on the logical, evidential or inferential Continue reading
Innovation Theories: Bottom of the Pyramid and Dominant Design
The use of innovation for sustaining businesses have been in time since the advent of businesses themselves. The ability to exploit technological developments in order to solve real problems bring about value to the people using the businesses’ products or services. The value created by a business is the result of proper innovation taking place in a multi-faceted fashion in the spheres of technology and business administration. Hence, innovation theories are a concept to extensively address and analyze real world problems to get the most valuable benefit whilst the solving the problem. Creativity lies the in heart of innovation and it is a critical ingredient that catalyzes the process of value generation via the services and products of the business. Different innovation theories have been coined and discussed globally by businesses to strategically place their products or services in a way that helps their clients or customers the most. This Continue reading
What is Work Life Flexibility?
Work life flexibility is important to have an effective and productive work at the workplace. It is seen that there are various advantages on having flexibility in work life. Having an appropriate work life balance is also essential to have a healthy lifestyle and a successful career. Work life flexibility helps the employee to be more responsible towards his family and adjust himself in various situations. The traditional method of job is found to be from 9am to 5pm. This is usually found as working hours in office. However, this traditional method of office hours is dying with time. In the modern world, people think that this traditional method of office hours does not make any practical sense. It is seen in the modern world that both the parents of a family are working. They need to stay outside the house more than they can give time to their family. Continue reading
Business Process Reengineering (BPR) and Total Quality Management (TQM)
Business Process Reengineering (BPR) Business process can be defined as a set of logically related tasks performed to achieve a defined business outcome. It is a structured, measured set of activities designed to produce a specified output for a particular customer or market. Improving business processes is important for businesses to stay ahead of competition in today’s marketplace. Over the last 10 to 15 years, companies have been forced to improve their business processes because customers are demanding better products and services. Many companies begin business process improvement with a continuous improvement model. The Business Process Reengineering (BPR) methodology comprises of developing business processes are simplified rather than being made more complex. Job descriptions expand and become multi-dimensional – people perform a broader range of tasks. People within the organization become empowered as opposed to being controlled. The emphasis moves away from the individual and towards the team’s achievements. The Continue reading
Cost Control Techniques in Business
During the 1990’s cost control initiatives received paramount attention from corporate America. Often taking the form of corporate restructuring, divestment of peripheral activities, mass layoffs, or outsourcing, cost control techniques were seen as necessary to preserve – or boost – corporate profits and to maintain – or gain – a competitive advantage. The objective was often to be the low-cost producer in a given industry, which would typically allow the company to take a greater profit per unit of sales than its competitors at a given price level. Cost control and reduction refers to the efforts business managers make to monitor, evaluate, and trim expenditures. These efforts might be part of a formal, company-wide program or might be informal in nature and limited to a single individual or department. In either case, however, cost control is a particularly important area of focus for small businesses, which often have limited amounts Continue reading