Concepts of Management Principles | Free Essay Example

Concepts of Management Principles

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Topic: Business & Economics
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The success of any organization depends on the nature of management practices it adopts. It is never an easy task to meet all workers’ needs or desires; however if a management team formulates correct policies or strategies of management, then likelihoods of success are high. All management practices should fall,l within specified principles, which are ethically correct. Managerial teams in organizations use these principles as main guidelines in decision-making, hence need to consider all stakeholders views in their formulation.

Enlightened Self Interest

Different managers apply varying management strategies to make sure they promote organizational goals. The nature of management strategies used by organizations varies from the most dictatorial, where fear acts as the main ruling principle, to the most desired, where democracy reigns.

Forces internal and external to an organization can force the management team to use cohesive force in the ruling, due to uncertainties in business operations. Fear and intimidation although a good working principle in certain business scenarios, it may limit employees’ potentialities, hence under develop their creativity (Kreitner pp.26-31).

Enlightened self-interest is an ethical doctrine, which states that, although individuals may seem to act to foster group interests, in most cases, they do this because they have individualized organizational interests. Depending on an individual’s management ideology, enlightened self-interest can take two dimensions, either idealistic or altruistic. It involves managers adopting management policies that will ensure an organization protects its good reputation as it fights to achieve set targets.

An organization achieves this through taking into consideration group views, hence the formulation of policies that foster togetherness. Most organizations that use these principles aim to promote employees’ happiness and well-being, with future expectations of gaining from such relationships. It is important to note that, selfishness is a common trait among all individuals, which in most cases if transferred to an organization can impact an organization in many ways that are both positive and negative (Besser pp. 399-421).

In many organizations, enlightened self-interest policies take many forms; firstly, although managers may have their own set goals in an organization, what stakeholders want should always take precedence. This involves conducting a critical analysis of stakeholders needs, hence integrating them in the overall organizational policies. This is an important management strategy used by many managers to attract many investors, hence likelihoods of increased profits and business revenues in the future.

On the other hand, due to many political influences on the running of organizations, managers sometimes may integrate politically driven policies to capture and encourage more investments. In this regard, therefore, enlightened self-interest not only involves stakeholders’ interests but also the wider societal needs, remembering that at the end, it is the organization, which will benefit most (Kreitner pp.30-36).

It is important for all managers to note that most enlightened self-interest principles may lead to divisions and conflicts in an organization between different interested parties. In this regard, due to such divisions fights are bound to arise depending on sides taken by individuals. On the other hand, such divisions can cause increased expenditure as different managers to endeavor to please different parties for their policies to receive acceptance, hence loss in an organization’s revenue (Winstanley and Woodall pp. 4-6)

It is also important to note that, although benefits resulting from enlightened self-interest principles take time, they always have a long-lasting impact on an organization. This occurs in a case commonly referred to as deferred gratification, where managers sacrifice short-term benefits for foreseen future benefits. That is to say, many managers will forsake their interests; hence, give other employees and stakeholders’ views consideration during the formulation and implementation of policies.

Human Resource Management (HRM)

The level of success and business well-being of an organization depends on the nature of the working force such an organization has. For organizations to have a competent and working labor force, it has to adopt workable strategies that promote not only good organizational practices but also good employee relationships. The overall process of ensuring an organization has promising and competent labor force is the main function of the human resource department.

Human resource management involves the process of recruiting new employees depending on an organization’s labor force demand. After the recruitment, this department has the duty of providing these recruits required training aimed at orienting them to organizational systems. After training, this department takes the responsibility of assigning new employees duties as per their qualifications and competence.

As the business nature and working patterns change, this department has to ensure employees receive the required upgrading in terms of skills and competence. Apart from, recruitment and training of workers, human resource management involves the formulation of workable policies that will ensure there are peaceful co-existence and formulation of working solutions in an organization (Kreitner 80-90).

This department achieves this through conducting researchers on employees’ characteristics using industrial psychology, hence the adoption of policies that reconcile different ideologies in an organization.

To ensure workers remain always motivated, this department has the overall role of giving promotions and appraisals to employees depending on their performance standards. Also, human resource management involves the determination of remuneration packages for workers, hence avoiding many conflicts, which may arise due to biases.

On the other hand, this department conducts future predictions in terms of workforce needs, hence acting as the main decision-making center as concerns labor force needs. Generally, HRM involves managing workers welfare, while ensuring an organization meets is targets both presently and in the future (Kreitner 87-92).

Strategic orientation

In order for an organization to meet future goals, it is of importance for it to set future targets and establish mechanisms of achieving the same. Strategic orientation involves the determination of an organization’s future direction, hence organizing efforts to meet targets set by an organization. For an organization to formulate a good strategic orientation, then organizations must follow the following five steps conducting strategic dialogue, planning, measurement, formulation of a calendar, and dialogue strategy engagement.

Strategic orientation is important to an organization, in that it enhances an organizations competence in the business world. The orientation makes this possible because it spells out organizational targets, formulates implementation mechanisms, hence coming up with strategies to meet these demands.

Developing Effective Virtual Teams

For an organization to expand well its market segment, it is important for it to formulate and manage high performing teams in all geographical areas. This is because it is possible for an organization to have a pool of skilled employees in varying geographical regions who work towards common organizational goals. These professionals in different geographical areas offer an organization a chance to recruit and retain a group of skilled employees with required skills internationally.

In addition, this method gives an organization an added advantage because; it eliminates barriers that may result due to geographical position differentiation. These teams usually use electronic media as their main means of passing information, whereby meetings are minimal. These virtual teams are effective because they greatly help an organization reduce its traveling costs; hence, making it possible for an organization to expand its labor force without extra costs.

To formulate an effective team it is important for management teams to clearly define working standards, which will ensure all employees follow set rules and standards. The first main question that all managers should ask themselves before formulating a virtual team is; do they have a cohort of competent people? Then if such a group exists, the next step of ensuring such personnel works in unison is to establish a communication channel.

Communication is one main component of any successful organization and owing to the nature of virtual teams; it is important for managerial teams to formulate good communication channels. These channels should aim to eliminate any barriers that may arise because of social-cultural differences, which may exist in a virtual team. For management to come up with useful communication channels, managers should set out clear rules that all members of the team must follow.

This is because most of the time, these, teams rarely have a chance to have a face-to-face interaction and are in different time zones, hence need for common working ground. In this regard, if the mode of communication is interned the et then, the management team must ensure they use stable means with fewer failures. Another main point to consider if managers want their virtual teams to work effectively is to avoid making assumptions about members of these virtual teams.

To avoid making wrong assumptions, it is important for managers to establish good working relationships with members of their teams, which is possible through working in close collaboration with them. Also, it is important to provide team members with continuous training, which will orient them to working in varying cultures. This is because considering the cultural variations of these members; there are likelihoods of fallouts as work proceeds (Kreitner pp. 97-109).

Also, to make sure these teams are successful in their functioning, it is important to formulate policies that will establish a rewarding and career improvement system. The system adopted should ensure it meets all team members and needs.

Conclusion

In conclusion, to ensure the sustainability of a business unit or organization, it is important for all management teams to formulate policies that respect employees’ rights at the same time fostering organizations well being. This is possible through wide consultation among different stakeholders affected either directly or indirectly by organizational management practices.

Works cited

Besser, Terry. The risks of enlightened self-interest: Small business and support for Community. Business and Society, 43. 4, (2004): 398-425.2004. Print.

Kreitner, Robert. Management. Boston: Houghton Mifflin Company. 8th Ed. 2000. Print.

Winstanley, Diana and Woodall, Jean. Ethical issues in contemporary human resource management. London: Macmillan press. 2000. Web.