Recent Trends in Management

Some of the recent trends in management include crisis management, Total Quality Management, risk management, etc.

Change management: Thoughtful planning and sensitive implementation along with consultation with and involvement of people affected by the changes.

Crisis management: Identification of threats to an organization and its stakeholders and the methods used to deal with these threats.

TQM: Approach to improve quality and performance which will meet or exceed customer expectations.

Risk management: Identification of opportunities and avoiding/ mitigating losses.

CHANGE MANAGEMENT

Change: Variation in the established way of life to which people are accustomed in the organization - may result from internal as well as external stimuli, natural or reactive, etc.
Resistance to Change - Resistance is inevitable, and may be overt, implicit, immediate or deferred. It can be classified under three heads:
a) Logical: Arising from the time and effort required to adjust to the change - rational objections.
b) Psychological: Fear of the unknown, low tolerance to change, dislike of management, need for security, etc.
c) Sociological: In terms of group interests and values.

Overcoming Resistance to change:

1. The nature of the change along with its ramifications should be properly understood. 
2. Changes should be introduced in stages.
3. Shouldn't cause security problems to employees.
4. Should be developed with due participation of all those concerned. 
5. Shouldn't carry individual overtones
6. Effective leadership skills and proper motivation of employees. 
7. Systematic Training

Lewin's Three Step Model

• Unfreezing the status quo
• Changeover to a new state 
• Refreezing the new change to make it permanent. 

Action research: a method of scientific inquiry into the circumstances necessitating change and the action that may be taken. It's based on scientific collection and analysis of the data, and then selection of the action that is indicated by the analysed data.

CRISIS MANAGEMENT

Types of Crisis:

• Natural disaster
• Technological crisis 
• Confrontation crisis - discontented individuals or groups fight the government or other interest groups.
• Crises of Organizational Misdeeds
• Workplace violence 
• Rumours 

TOTAL QUALITY MANAGEMENT 

Important principles:

• Quality can and should be managed.
• Processes, and not people, are the problem.
• Look for the cure, rather than treating symptoms 
• Quality must be measurable
• Every employee is responsible for quality 
• Improvements in quality should be continuous 
• Quality is a long-term investment 

RISK MANAGEMENT

Characteristics:

1. Systematic discipline for dealing with uncertainty.
2. Provides a system for making choices 
3. Provides better understanding of potential liability 
4. Guide for responding to unwanted events 

Process:

1. Risk identification 
2. Risk Assessment 
3. Risk Measurement and Analysis 
4. Risk Evaluation 
5. Risk Treatment 
6. Risk Monitoring and Review