Management Theory & Practice Essay Example | Topics and Well Written Essays - 2000 words

Management Theory & Practice - Essay ExampleOrganizations as well as managers are often confronted with super dynamic and multifaceted operating environments. These challenges may include a range of factors such as sudden change in technologies, making the existing ones antiquated or the launch of new innovative product ideas or the change in customers tastes and preferences on account of change in the remote global environment. While on one hand, organizations and managers, congregate with the markets in which they operate, to deal with such revolutionary transformations, there is on the other hand, an increasing sense of acknowledgment which indicates the need for adoption of a holistic approach for marketing of their products in order to cope with the market demand. All this combined with the universal capability to follow both hard as well as soft innovations within the rapidly shrink time frame, places the ability of effectively adapting to the changing market demands, at t he top of the must have core competencies list.The 21st century internet age which is ably sustained by a well incorporated business infrastructure for marketing of their products, complete with state of the art technologies and an effective supply chain network, change is here to stay. This new e-world in the electronic age, is highly fragile which has no place for preset plans, or predefined change management techniques, and wherein age old conventions and set rules are continuously being challenged and threatened.It is hence irresponsible for organizations to adapt themselves to the dynamic external environment in order to sustain their competitive positioning in the industry and retain their hold on the markets as well as their consumers. Although almost all organizations have a proactive approach towards change, with detailed and precise mission and vision statements and future goals that determine their potential aims, these organizations often react on the basis of the