Modern Management Approaches

Regeneration of Offices and Modern Approaches to Working

Design of a contemporary workspace has a responsibility to comply with current respect of social change, work flexibility, evolving technology, sustainability and a diverse workplace. Current offices are in need of constant innovative solutions that will sustain the modern way of development in co- working places.

Contemporary offices are in need of stable development and adjustments to existing social principles. Present day work environment has significantly changed throughout the decade. Co-working office spaces are now in need of a relaxed atmosphere. Studies show that contemporary culture in the way people work allow them to prosper better within the business markets. Twenty-first century office design comprises in merging single user and collaborative needs to give the best possible opportunities.… Read the rest

Abey Francis

A Brief Introduction to Six Sigma Methodology

The creation of Six Sigma Methodology is understood to be traced back to Carl Friedrich Gauss and introduced as a measurement in variation in organizations.  Six Sigma name comes from the Greek alphabet “Sigma” which mathematician or statisticians uses in statistics to find a standard deviation.  Motorola was the first company to use Six Sigma, to measure the quality of products and services from within.  In the process of Motorola using Six Sigma, it helped them to pinpoint mistakes such as finances and operations.  Six Sigma’s core philosophy was based on business process and customer requirements, extensive training to employees, focus on the organization, and creating an improved system.… Read the rest

Abey Francis

Importance of Stakeholder Engagement in Business

Stakeholders are all those people or businesses that are essential for a company, because they contribute to keep it afloat or in operation. They can be affected if their expectations or needs are not met. There are three interested parties: suppliers, customers and investors. Each of them is an indispensable part. Without its essential contribution, the business could not be sustained or built. Suppliers provide the input, customers are those who consume our products and refer us to new prospects and investors or owners, contribute their capital for the sustainable development of the business. Stakeholders can benefit or be harmed by any action or decision taken.… Read the rest

Abey Francis

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

Abey Francis

Employee Participation and Organization Performance

In the first instance is necessary to define both employee participation as well as what is meant by performance. Employee participation may be defined as the process by which employees are involved in the decision making process of a business rather than merely being expect to following instructions and as such this forms what is referred to in HR as empowerment. Performance on the other hand can be considered from two perspectives, firstly there is the performance of the individual in question and how their personal performance is affected by the concept of employee participation. Secondly there is the performance of the organization as a whole to consider and how this will change with varying degrees of employee participation. … Read the rest

Abey Francis

Visionary Leadership Style – Meaning, Benefits and Challenges

Visionary Leadership is defined as an operation to influence others in order to create a better future and solve problems in an innovative way. Visionary leaders are those which have the ability to see the capabilities in others have the tendency to lead them. This type of leadership style creates a positive momentum and endurance in an organization. However, the visionary leadership style is most effective when an organization needs a new and clear direction to follow. Employees or people who performed under visionary leaders always enjoy working with them and truly want themselves to reach their full potential and find meaning in their work.… Read the rest

Abey Francis