Unit 7 Contemporary Management Issues and its

Transcript:Unit 7 Contemporary Management Issues and its:
Unit 7 Contemporary Management Issues and its Challenges Cross cultural issues in management - diversity and the new work force Organization ethics and social responsibility New ways of managing the work force Neuro-managing Globalization and its complexity. Service economy Management communication and technology knowledge management and knowledge economy. INDEX Introduction The companies are becoming global companies • Global companies leads to Multicultural organization • Managing and operating global business is tougher task • Human resources should be culturally sensitive Effective knowledge and use of cross cultural diversity can provide a source of experience and innovative thinking to enhance the competitive position of organizations. However, cultural differences can interfere with the successful completion of organizational goals in today's multicultural global business community. Why culture matters in international business • Developing products and services • Communicating and interacting with foreign business partners • Screening and selecting foreign distributors and other partners • Interacting with current and potential customers from abroad • Preparing for overseas trade fairs and exhibitions • Preparing advertising and promotional materials It is employed in organizational settings by employing and hiring persons with various features such as age, religion, gender, sexual orientation, ethnicity, education, languages, abilities, and cultural background. By implementing this, the organization will become more inclusive. Culture • The social behavior and norms found in human societies • Learned and helps to interact and communicate • Helps to understand: How the members of the society live How the members behave Beliefs and values Organizational Culture • When people join an organization, they bring with them the values, beliefs they have been taught • They need to learn that how particular organization functions and need to adapt to it Characteristics • Observed behavioral regularities • Norms • Dominant values • Philosophy • Rules • Organizational climate Diversity Understanding that each individual is unique Recognizing our individual differences Dimensions of race, ethnicity, gender, socio-economic, status, age, physical abilities, political beliefs, other ideologies Cultural Diversity Cultural diversity is when differences in race, language, nationality, religion Residents include members of different groups Reasons for the emergence of diversity Various groups of people are entering the workforce Helps organizations in meeting competitive pressure faced by them globally Helps in decision making process Benefits: Diverse cultural perspectives can inspire creativity and drive innovation Local market knowledge and insight makes a business more competitive and profitable Cultural sensitivity, insight, and local knowledge means higher