Quiz 2: The Evolution of Management Thinking

Business

Innovative management is important in order achieve profitability and success at the highest level. This means doing what everyone else is doing, only better and on more far reaching levels. Throughout the history of Wal-Mart, CEOs have been innovative by creating supercenters with an all in one shopping mindset. Their buying in large quantities through innovative supply chains allows them to cut prices and achieve margins that other smaller companies cannot match.

A learning organization is one that learns continuously from its mistakes and from others in the same industry. It also disseminates the learning quickly throughout the organization for the overall growth of all the employees. SIA is going to evolve itself into more of a learning organization based on the economic, political, and social forces that are happening in the world today. In social front, SIA must have to encourage systematic thinking, team learning, shared vision, personal development of employees. Doing so will help employees to actively get engaged in identification of problems and solving them. This will help in developing the internal health of the organization, increase the problem solving abilities of employees as well as foster shared learning. In the politica l front, SIA must have to change its top-down administrative structure. A top-down administrative structure hinders the free flow of learning. Therefore, to facilitate learning and sharing of knowledge the organization must shift towards becoming a collaborative organization. In Economic front, to take competitive advantage over others, the organization must have to evaluate itself and its competitors in regular basis and disseminate all the accumulated knowledge throughout the organization.

As a result of increased government regulation for the banking and healthcare sectors management practices will likely become more rigid and technical in order to meet the new policy demands that are happening. Since the banking bailout occurred many companies have a long list of checks and balances to adhere to before qualifying any home loans. Other factors could affect the management job such as the new Obama care policies for healthcare or the latest changes to housing and banking contracts and credit checks. The Obama care policies are sort of a social and economic force as they ensure good health care at reasonable costs for everyone regardless of economic or social and political status.