Emerging Management Concepts and/or Trends

The most valuable asset of any large-scale organization is the high-caliber employees. Finding right people and putting them at right job is the most important challenge for any organization. Keeping in mind the forecast the function of attracting the best available talent is carried out by an organization Outsourcing Relationship: Primary benefit of outsourcing is the significant cost saving and improvement. Depending upon the work processes outsourced, some organizations save sufficient in content development costs alone.

Cost savings may also be realized by outsourcing development and maintenance of e-learning technologies such as learning management systems, content management systems and authoring platforms. Saving costs is not the only reason to consider outsourcing. Significant quality improvements, such as consistent instructional design and ongoing content maintenance, can also be cost-effectively derived through outsourcing.

Many organizations haven’t built the competencies or processes in-house for developing and delivering e-learning, and this provides a way to provide expertly designed e-learning at a reduced cost. Outsourcing is often used to overcome resource shortages. A robust educational system in developing countries provides access to highly skilled individuals in the areas of linguistics, IT and engineering, etc.

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All these factors add tip to allow corporations access to any content expert with proficient skills, at less than half the cost of similar resources elsewhere. While organizations are primarily driven to outsource training content development because of cost savings, the trend to outsource this work to specialist vendors is heightened by two other reasons-increasing need for content and increased pressure to improve the quality and consistency of training produced to meet these expanding requirements.

Network Management: The networking helps us in getting the information fast. Networks have changed the life for better. The present age is called the Information Age. In this information age, the strategic resource is information. Information is useful only when it is received in time. The communication networks have become the media of choice for transmitting the information. The tune lag is so little that the data seem to travel in real time. Most of the business paradigms have changed due to communication networks.

The consumers are able to locate the item of their choice on the electronic shop, compare quality and prices before they place an order with a company. They expect the company to keep them informed about the status of their order. With this technology and proper management, the customer can be made happy. At the same time, the company can keep a record of their customers and send them information about their new schemes. The intranet facilitates online financial planning and project management.

The company saves the staff cost and the customer saves time. The same mechanism can be used to interact with suppliers. Motivational Aspects: For success of participative management, team performance needs to be rewarded. Of late, reward system practices are changing in consistent with participative management. Gain sharing has become increasingly popular, and skill-based pay plans have replaced job-based plans in many manufacturing locations practicing participative management.

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