Introduction Of Principles Of Management Portfolio Assignment Sample
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Competing values framework helps the company to study the organizational culture and management style. The essay is going to discuss a theory that focuses on internal and external factors which affect the company's reputation and market value. There are four quadrants of competing value framework i.e. clan, adhocracy, hierarchy, and market. The clan is a culture that focuses on internal factors when the company is flexible. The adhocracy is externally facing and ideal for innovation. Hierarchy is internally focused that prioritizes stability in an organization. The market is a high external motivation with a stable structure that focuses on brand identity and employee work to maintain a good external image. The competing value approach can be effective depending on the culture and business operations. Management is a process of organizing and planning the resources of a company to accomplish goals in the most effective ways (O’Neill, et. al. 2021). This essay will further cover management theories to collect the idea to formalize rules and regulations to manage the operations of the business ethically. The manager applies different theories in the organization that suit workers and the company's culture.
Management approaches in competing values framework
A competing value framework helps the company in creating its cultural dynamics and helps to understand various functions in the organization. This is also used in implementing strategies and makes the decision process effective (Cameron, et. al. 2022). The framework also boosts the morale of the employees and motivates them to improve their efficiency and effectiveness. Every organization needs effective management to achieve its goals and targets of the business. There are levels of management that aim to coordinate, plan and organize the functions of the business. Management performs multi-dimensional, dynamic, and intangible products for a company. The 14 principles of management should be applied in every organization for effective management of employees and business. The principles of management are a distribution of work, responsibility and power, unity of authority, discipline, and unity of direction, remuneration, subordination of individual interest, centralization, equity, order, scalar chain, and stability of possession, group reflection, and inventiveness (Adam and Suleiman, 2018). Competing value frameworks help the company to focus on the internal and external environment. Scientific management increases the efficiency of production and improves the performance of the workforce. The administrative management theory increases the effectiveness of organizational culture and administration. The human relation theory considers the well-being of workers and builds a relationship with managers and employees.
The contingency approach focuses on the acknowledgment of the business environment and recognizes multiple methods and effective business structure. The competing value framework develops the organization's culture and the success of the business. Successful organizations frequently deal with problems including how to innovate, how to plan and use resources, and how to develop and evolve as a system as a whole. Then, in order to address these and other issues "successfully" within the confines of an organizational culture, leaders must be aware of the ongoing conflicts that occur within their businesses. The management approaches help the supervisor to implement the business strategies to achieve the goals and motivate employees to improve their performance. Management theories help supervisors in increasing productivity, simplify their decisions, and increase objectivity and collaboration in the workplace. The classical theory of management focuses on employees' physical needs rather than job satisfaction needs. The supervisor provides monetary incentives and high income to motivate their employees to work hard. Classical theory clears the levels in an organization's hierarchy. It provides a clear outline of the objectivity and responsibility of management. This theory establishes labor division to increase productivity. The workers are strongly motivated through monetary incentives and physical needs. A company by implementing classical theory improves employees' opportunity to be rewarded for their performance. The theory's works upon the primary component in which single leader decides on behalf of the company. The company using this method decides a higher level for quick decisions. The company can apply this theory in establishing standard operating procedures and by selecting the right employees for a particular task. The theory focuses on labor incentives and specialization, and authority to increase the productivity of the workforce. Classical theory gives priority to employees' economical and physical requirements rather than social needs and job satisfaction. (Pearce, et. al. 2020).
There are major 3 branches of classical theory; the first one is scientific management which focuses on empirical research and scientific methods to conclude the effective methods to aim the specific tasks. This approach helps the leaders to assign the task to employees based on their skills and ability. The manager trains their employee and monitors their performance on the regular basis. (Burawoy, 2021). The second is administrative management which aims to improve productivity by adopting various suitable methods to improve the internal process of the company. The third one is bureaucratic management which has a hierarchical structure in the company to established rules and regulations. These increase the uniformity and order in an organization and improve the performance of the workforce to achieve the goals. On the other hand, the contemporary management approach oversees business including activities like decision-making, planning, and monitoring. The approach helps the company to establish goals in the interest of customers and employees. The theory improves the environmental factors to create a healthy workplace. The contemporary theory relies on the use of technology which includes innovating with the essential machine, appropriate repairs, quality products, manufacturing plants, and many more. The theory uses a hierarchy in the company to understand the authority. The employees experience independence with the authority structure in the company. Increased independence promotes innovation, improves retention rate, and encourages the workforce to take possession of their professional development. The theory emphasizes on company's culture and improves productivity and innovation (Pasquali, 2018).
There are 3 types of contemporary theory; the first one is the contingency view which states that effective leadership style based on the situation should be considered for effective decisions. The second one is the system perspective view which connects different components which help the company to classify sectors to make the functions (Harrison, et. al. 2021). The third one is following Douglas McGregor's X and Y theories from the 1960s, American economist and management professor William Ouchi developed the Theory Z which requires the company to retain some features of hierarchies like formal authority and employee evaluations.
The competing value model offers the company an alternative perspective and managing business situations. Boddy’s model of management aims at identifying the main variable in a different situation. Boddy emphasizes managers who can draw upon models according to the diverse situations the company faces. It is important to understand the values personified in the theory. Boddy identified 4 models of management i.e. rational goal, in-house process, human relation, and open structure. (Roberts, 2019). The model helps the manager to manage the organization's structure and profitability. It evolved from scientific management and focuses on the maximization of output and profit through information based on decision-making. The internal process model came from bureaucratic management ideas and administrative management which emphasize rules and regulations over the division of labor, personal motivation, and hierarchical structure.
The human relation model is based on experiments on working conditions that produce unexpected results. Employees feel motivated when they were asked for their opinion and improve the well-being of workers which increases their productivity. The open system model interacts with its internal environment. The company uses its resources and transforms its input into output to generate profits and revenue (Kumar, et. al. 2021). The important alternative includes a socio-technical system where outcomes depend on the communication of technical and social subsystems. Another is the concept of contingency management which highlights the need for adaptableness to the external environment.
(Source: Lucian E. Marin , 2011)
The essay discuss about the comparison between classical and contemporary approaches of management in competing value framework. Management theories are collection of ideas to manage the business effectively. They help company to implement the business strategies to achieve the target and goals by motivating workforce in efficient manner. These theories are gathering concepts adjoining management strategy includes framework and guidelines to be implemented in a company. The essay also discussed on management model which are applied in different principles to increase the efficiency of the staff and motivate them to accomplish the goal and vission of the company. This essay also discussed on management theories which will increase the productivity of the team members and improve their performance (Quinn, et. al. 2020). These theories will help the company in making strategies and speed up their decision making process efficiently. The managers or leaders can encourage the team members and increase their participation in the management decisions.
Adam, A.K. and Suleiman, E.S., 2018. A Contextual Framework of Henry Fayol’s 14 Principles of Management for Public Sector Efficiency and Effectiveness of Policy Responsibilities by a Government. Journal of Advanced Research in Business and Management Studies, 11(1), pp.46-61.
Burawoy, M., 2021. Why is classical theory classical? Theorizing the canon and canonizing Du Bois. Journal of Classical Sociology, 21(3-4), pp.245-259.
Cameron, K.S., Quinn, R.E., DeGraff, J. and Thakor, A.V., 2022. Competing values leadership. Edward Elgar Publishing.
Harrison, R., Fischer, S., Walpola, R.L., Chauhan, A., Babalola, T., Mears, S. and Le-Dao, H., 2021. Where do models for change management, improvement and implementation meet? A systematic review of the applications of change management models in healthcare. Journal of healthcare leadership, 13, p.85.
Kumar, S., Sureka, R., Lim, W.M., Kumar Mangla, S. and Goyal, N., 2021. What do we know about business strategy and environmental research? Insights from Business Strategy and the Environment. Business Strategy and the Environment, 30(8), pp.3454-3469.
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Pasquali, R., 2018. Contemporary approaches to the management of polycystic ovary syndrome. Therapeutic advances in endocrinology and metabolism, 9(4), pp.123-134.
Pearce, E., Stewart, M., Malkoc, U., Ivy, R. and Weinburgh, M., 2020. Utilizing a Dynamic Model of Food Chains to Enhance English Learners’ Science Knowledge and Language Construction. International Journal of Science and Mathematics Education, 18(5), pp.887-901.
Quinn, R.E., Clair, L.S.S., Faerman, S.R., Thompson, M.P. and McGrath, M.R., 2020. Becoming a master manager: A competing values approach. John Wiley & Sons.
Roberts, V.Z., 2019. The organization of work: Contributions from open systems theory. In The unconscious at work (pp. 37-48). Routledge.