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Management Philosophy: Functions and Trends/Change

Describe emerging management concepts and/or trends in today's world. How do you see the four functions of management changing in the future?

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Dear Student,

Here is your solution. Don't forget to peek at the Bain's trends report of 2007. Good Luck!

OTA 105878
Management Tools & Trends

Bain & Company is a global business firm whose focus is to create more value for their corporate clients in their 38 offices in 25 countries. Bain's one core service to its clients are assuring company core competencies by analysing the various facets of a corporate client's operations and working with the client according to their goals of growth to come up with plans & management approaches at creative problem solving.

Since their inception in 1973 through hands-on experience Bain's 1,100 worldwide business consultants were partly responsible for new trends in management from small family-owned business in Asia Pacific to their multinational clients in the West. Since then they've shared their observations in terms of trends to the business world and their annual trends in management report is something that industry analysts look forward to. Part of this I reckon is the fact that their observations are global in nature and not confined to a single culture or region. Their clients' services are also diverse: Industrial, Manufacturing, Information Technology, Education, Tourism & Restaurant Management, Entertainment, etc. As such Bain looks at trends in management across the board notwithstanding the nature of the business in a particular niche or genre. As such, I have decided to look into their 2007 report to get an informed view on certain management trends.

On Soft Issues

Going 'green' is a soft issue, so the idea of outsourcing. A soft issue is said to be hard to pinpoint, at times vague and ...

Solution Summary

This solution provides a discussion on how changes in management precipitated by trends & new perspectives/outlooks affect the four main functions of management. It does so by looking at current trends like 'going green', an environmentalist perspective as well as the harder trends involving labour, production & growth - outsourcing & globalization. Using the latest book on the subject by Gomez-Mejia as well as a few key online references, the discussion is academic as well as concise; it expands the discussion further by providing a list of the references used allowing the student avenues for further studies/research on the subject matter.