Management Development...

Management Development The development of executives in an organization is necessary for its present smooth functioning as well as for its proper functioning in future. The development of the executives takes place along two lines (Fig 1). The first consists of enhancing his knowledge towards technologies and technological skills which are changing very fast in today’s environment. The second consists of developing his managerial abilities so that he can function in higher managerial positions ably and in a responsible manner. Fig 1 Two lines for development of executives In the present day environment it is necessary for every organization to give serious thought to the development of its executives in various management techniques. The performance and the efficiency of the executives are greatly enhanced if they are well versed with the techniques of management. Hence the organizational management is required to give importance to the management development activities. Basic organizational decisions need an increasingly long lead time. Since no one can foresee the future, management cannot make rational and responsible decisions unless it selects, develops, and tests the executives who are to take care of these decisions in future, since these executives are going to become managers in the coming future and are going to run the organization. The executives need to have managerial abilities. They need to have along with the theoretical knowledge, the ability to organize and to lead. They need to know how to make decisions and what the managerial control techniques are. Management development programs develop the executives of today into efficient managers of tomorrow. These programs ensure continuity in the organization, which is a vital aspect for the efficient running of the organization, especially in a large organization where this need is more essential. The organization being a wealth...

Elements of Decision making...

Elements of Decision making One of the important tasks of an executive is the decision making. It generally takes a small fraction of his time. Nevertheless the decision making is a very important aspect of his work since the decisions he makes by virtue of his position, knowledge or experience have significant impact on the entire organization, its performance, and the results. Hence, executives to be effective are to make wise decisions. They are to make the decisions as a systematic process with clearly defined elements and in a distinct sequence of steps. For an effective decision making, the executive is to normally concentrate on those important and strategic decisions which have big impact for the organization. These strategic decisions need to have the highest level of conceptual understanding. The executive is required to find the constants in a situation and is to apply his skill to manipulate a great many variables arising out of the chaotic thinking in order to make an effective decision. He is to know what the decision is all about and what the underlying realities are which the decision is required to satisfy. The executive is to look out for impact rather than the technique. He is to ensure that the decision he makes needs to be sound rather than clever. An executive while making a decision is required to know whether the decision is to be based on principle or it is to be made on the merits of the case and logically. He is to be aware that the trickiest decision is the one which is between the right and the wrong compromise he has to make and he is to be able to judge one from the other. Further, the executive is to be aware that...