People Management Successful Management Approach

Question: Describe about the People Management for Successful Management Approach. Answer: Introduction In the organizational and the people management there are various issues which arise and acts as the barricades in the successful management approach. To resolve these issues and to have an effective people management process in the organization there is a need to consider these issues with a significant approach. In this assignment there has been taken a case scenario of Inexorable Finance Company which is established in one of the major cities of Australia. The main managerial issue of the company has been discussed in the assignment. The various associated managerial dilemmas have also been given significance which is associated with the managerial issue of the company. The purpose of this assignment is to have an understanding of the issues and dilemmas of any managerial decision making and the personal understanding from that case scenario and thus applying those aspects in the individual self management and decision making. [1]The assignment also highlights the importance of kn owledge management of the people in an organization as they are the key asset and the most significant resource of the company. The report throws light over the need of ethical and practical approach in any decision making that how it impacts the performance of the organization and the employees. There also has been provided a personal reflection which states the personal analysis about the case scenario and the other various elements. Managerial Issue The case scenario which is analyzed and evaluated here is the Organization in need of change, here the organization named, Inexorable Finance, which is Company is situated in one of the major cities of Australia. It is medium sized business organization. The case here is that the company was successfully working earner but in past few time period it has been found that the company is facing a continuous decline in its profits and returns. And this is the managerial issue which is needed to be handled by the company. To once again increase the returns of the company, the organization has adopted a new CEO i.e. Mary Millicent. With the unique style of working and the appropriate knowledge management Mary tried to resolve the managerial issue with the implementation of effective change management in the organization. The one more managerial issue was the resistance towards change. To have efficient returns there was a need of change but there were number of people who do have a supporti ve hand towards this change management and thus there created a managerial issue of resistance towards change.[2] One of the main elements was to handle this resistance and try to manage the needs of the employee so that there can be a healthy environment at the workplace. Resistance towards change is a primary issue as the employees are not ready to involve and engage in the change management process and thus there is no way to have an organizational development by keeping aside the most significant part of an organization i.e., the employees. So to maintain a balance in the organization there was a need to resolve both the managerial issues i.e. the decline in the profits of the organization and the resistance towards change by the employees. Ethical and Practical nature of Decision making (sielearning, 2009) In every decision making, there is a requirement that the higher authorities which take decisions have a practical and ethical approach while taking those decisions. To have a practical and ethical approach in a decision making there are few steps which are required to be followed by the mangers or the higher authorities which are accountable for taking decisions.[3] The first step in decision making is to identify the problem or the issue which is required to be resolved, secondly there must be some of code of conducts and ethical guidelines which are required to applied in the decisions, the next step is to make the decision as per the guidelines, next step is to make the decision based upon the duty of care which means that the decision should be according the responsibility and accountability held responsible to the manager.[4] After that there must be a session of brainstorming through which the various different courses of action must be analyzed. The very next step is to compa re and analyze all the possible outcomes and consequences of the different course of actions and out of that the course of action which is offering the most positive outcomes must be selected. After that there should be appropriate evaluation of the selected course of action in terms of time taken, outcomes, impacts and other various elements.[5] The last step in the ethical and practical decision making is to successfully implement the chosen course of action. The implementation should be followed by the necessary control techniques so that any deviation in the outcomes can be judged and redesigned as per the needs of the organizational goals and the employees.[6] Every individual or every organization member has several needs and requirements which are required to be considered and accomplished at the time of taking decisions. The involvement of the employees in the decision making and the consideration of their needs lasts a significant impact over the performance and morale of the employees and thus it exercises a direct impact over the organizational performance. [7]A manger is required to have a practical approach which means that the decision must be beneficial for all, must not discriminate people in context with their position in the organization, must have in good faith for the organization and for the employees as well it should also benefit the environment and the society. Then it is called as an ethical and practical decision making. Instead of just snowballing the profits and revenues of the organization the manger must focus and emphasis over the individual and organizational development from all the perspectives. [8] Managerial Dilemma There are various managerial dilemmas which are associated with this case scenario or the change management decision such as with the appointment of Mary as the new CEO there were senior executives who were not happy with her appointment and do not want that replacement. There were issues regarding them that they both were positioned without any sort of interviewed just because of the authority of the earlier CEO they were get placed. Secondly one of the senior executive George was seems to be very much critical regarding the ideas presented by Mary related to the organizational future and growth. As well as Eoin, the senior executive was also seems to be uninterested and tensed while any sort of discussion. There were other dilemmas also such as the maximum of the people were satisfied with the present scenario and the existing direction. They do not require any kind of change management and thus this created resistance towards change. There were dilemmas related to the huge difference sin the culture at the workplace. The dominant culture found to be comfortable with the existing direction and they were majorly quiet in this discussion. The engagement and involvement of the employees was also very limited and this was a major concern for the new CEO and the organization. The one more dilemma was the fear towards the change felt by the employees. All these dilemmas were an open challenge for the new CEO and the organization as there was a need to have higher profits and growth but simultaneously considering the individual needs of the employees as well. Reflection In my views it has been analyzed that there exists several managerial issues and associated managerial dilemmas with the decision making. As the new CEO wants to have a change management in the organization but there is not complete engagement and support of the employees in this decision. So to implement this decision without listening and considering the needs of the individuals is unethical approach towards resolving the issues, so to shave a better decision making which can benefit both the organization and the employees there must be a knowledge management approach required to be followed in the organization according to which there will be communication and transferring of the information related to the individual needs of the employees so that the highest authorities can make the change management plan as per those needs and requirements. In my opinion the employees are the key assets of an organization and if the organization wants to achieve development and higher profits, i t is required to maintain a balance among the organizational requirements and individual needs rather than just focusing over the growth and success of the company. In this scenario also the employees who are comfortable with the existing direction and do not require any sort of change in the organization must be involve in an open communication that what all fears and issues they are thinking that might occur with this change management and facilitated assurance and proper resolution strategies must be provided to them so that they can be influenced to engage on the change management program and sideline their resistance and became a part of change management process. The most difficult work in present scenario is to influence and facilitate the employee and to change their notion regarding any issue and mostly the change management plan. The misconception with the change management program is that it will employ new staff, the position and the job of the existing employees will be in danger, there will be less control over the organization, there will be incorporation of the new technology and equipments and it will make the working processes difficult for the employees. All these fears develop a resistance towards the change. So to have effective implementation of the change plan the new CEO must have a one-to-one approach towards understanding the needs of the employees and must take necessary steps to have a better understanding of the need of change management plan within the organization to the employees. Every decision making requires the backhand support of the employees for the organizational members to give positive outcomes. And thus every manager and every organization must have an ethical approach in the decision making process. The conclusion drawn from the scenario is that the new CEO Mary Millicent must keep a practical approach and ethical attitude towards the change management by accomplishing the needs of the organizational members and inte grating a balanced approach in combining the organizational goals with the individual needs. There is a requirement that the organizational people should also co-operate with the CEO in comprehending the need of change management plan by considering g the declined profits and cultural differences. This understanding will give a positive outlook towards the implementation of the need of change in the organization. Knowledge of people management For the purpose of optimizing performances, encouraging innovation and increasing the intellectual capital the organizations are widely taking use of the knowledge management.[9] The potential implementation of the knowledge management is highly depends upon the collaborative aspect of the social fabrics of the organization. In the present scenario where the ambiguity and the complexity of the organizations are rapidly up surging, there has been taken use of the knowledge management approach so that there can be successful enterprise performance. [10]The main focus of an organization as per the knowledge management approach is on the people rather than the processes or tools. If analyzed from the functional perspective it can be observed that in any organization where there is an approach of knowledge management the knowledge workers are the one which generate the wisdom, knowledge, information, data and objects.[11] Knowledge management is basically for three major elements i.e. technology, people and processes. These three elements share a reciprocal relationship with each other. Here the main focus is emphasized over the knowledge management of the people. If any organization needs to have a future sustainability and growth it must put its entire focus and efforts to develop its people as they are the key sources of success. These are that asset which produces highest revenue and also helps in generating profits from various other materialistic things and assets.[12] Knowledge of people management offer several benefits such as it helps in rapid and better decision making, helps in finding the relevant resources and information, supports in eliminating chances of occurrence of mistakes, supports in taking use of the experience and expertise present in the organization and helps the organization to grow and develop rapidly.[13] And thus the central focus should always the development of the people of an organization rather than just investing over the processes or tools. There are several principles of knowledge management such as it is a valuable asset. It is retained, sustained, quality controlled, decentralized, social, accessible, secured, searchable, and improved, measure and is kept in a central repository.[14] These principles are the regulating authority of the knowledge management of people. The theories and strategies of knowledge management involve the intellectual asset management strategy, individual knowledge asset responsibility strategy, knowledge creation strategy and knowledge transfer strategy.[15] These strategies focuses on the effective creation of the potent knowledge, in what significant manner the knowledge must be transfer from one person to another and the effective management of the people and the knowledge. Critical thinking In this assignment, as per the case scenario where there is a need of change in the organization the most relevant practices and theories which will work are the theory of knowledge transfer strategy and asset management strategy. With the help of these theories or strategies the scenario can give a better picture as in the case scenario it is found that there is a strong need of organizational change so that the declining profits can be evaluate and redefined. The major steps taken are the change in culture so that there can be which highly focuses over introduction of new policies, approaches and incorporation of innovations in the organization. The practices of knowledge management can be utilized here to improve the organizational performance as if there is a need of organizational change their sustains a major issue that is resistance towards the change and to handle and overcome this challenge the major strategy will be beneficial is the knowledge transfer practice. With the he lp of this theory there will be effective communication between the managers or the higher authorities and the employees. The information will be shared or transferred to the employees that why the new CEO wants to have a change management. Without the effectively distribution of knowledge and communication the employees will keep on having a resistance towards the change. So to manage this issue the organization give a serious consideration over the effective knowledge management strategies so that there can be successful implementation of the change management and once again the company can have higher profits and a string brand image in the markets and in the eyes of the customers. In this complex situation the organization can apply these theories by utilizing a direct approach to handle the issues and grievances of the employees that why they are resisted towards that change and by solving those issues through the relevant strategies and practices the company can have a better working and higher returns. Self management From the insights and knowledge gained from the unit it has been realized and learned that there are various key aspects which can be helpful in the personal decision making such as at the time of decision making the decision maker must analyze the situation first that what is the actual need of that situation and the decision should always be made on the basis of that analysis. For the effective self management and the decision making it is also been learned that there is a need that every decision must have an ethical and practical base. There should be no unethical grounds in the basis of which the decision was taken. In the own managerial practice one can involve learning like there must be adequate and effective approach towards knowledge management of people as they are the key asset of any organization. There involvement is a must. Other key aspects are managerial practice are understanding of the managerial issue, associated managerial dilemmas, individual needs, organization al goals and the aim of the decision making. Conclusion From this assignment it can be concluded that every organization has some or the other managerial issue which impacts the effective management of the people. To have a better organizational performance there is a need that the focus should be given over the development of the people and enhancing knowledge management of people. There is an extreme to consider the employees needs and aims for achieving the organizational goals. As well as to resolve the managerial issue there must be consideration towards the dilemmas regarding the managerial issues. If they will be encountered and resolve efficiently it will give a significant solution to the managerial issue. The people management is presently one of the major factors which impacts the success and development of the organization and which enhances the future sustainability of the company. From this assignment there has been analyzed various key aspects and learning which are very much beneficial for the self management of oneself an d also the critical thinking is one of the major approach in understanding the whole case scenario and to evaluate the positive and negative implications of the decision making. It is also been concluded that every decision making must have an ethical and practical approach so that the employees can feel that there has been no discrimination on the basis of various things while making the decisions.[16] Bibliography Smith, W.K., 2014. Dynamic decision making: A model of senior leaders managing strategic paradoxes.Academy of Management Journal,57(6), pp.1592-1623. Burke, W.W., 2013.Organization change: Theory and practice. Sage Publications. 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