This essay aims at justifying that people in the organisations are the most benefiting elements, compared to other strong elements like information, technology and organisational structure. However, this essay justifies that manoeuvring these resources rest on the working capability of the employees.
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Running Head: INTRODUCTION TO MANAGEMENT Introduction to Management Student’s Name University Name Author’s Note
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2INTRODUCTION TO MANAGEMENT Introduction Thisessayaimsatjustifyingthatpeopleintheorganisationsarethemost benefiting elements, compared to other strong elements like information, technology and organisational structure.However, this essay justifies that manoeuvring these resources rest on the working capability of the employees. In fact various instances have been provided to justify why the people in the organisation should hold greater value compared to the other elements that have been brought up in to comparison with the help of real life organisational instances. Discussion Most researchers cover high level ground on the importance of importance of elementslike people, technologicalprocessand structurein regard to the successof organisations in the modern day business world. Every element has their own importance in the scope of the operations of a company. However, in this context, researchers like Katzenbach and Smith (2015), and Amabile and Pratt (2016), holds that people are still perceived to be the most invincible to operations of an organisation. In order to establish the importance of people as the most invincible element, there are two ways of perceiving how people are significant for the success of the organisation. Looking at the job roles of people from the business perception is one aspect of the perception. Another perception is visualising the role played by the people from the point of view of another peering employee. However, in this context, Daft (2015) have argued that structure is a more significant factor since the placement of right people in the right post of hierarchy is very important for ensuring the smooth working of the organisation. In sharp contrast, Ferres (2015) argues that although system of organisation of the people in the organisation is crucial, it is ultimately up on the personal disposition of the people in their
3INTRODUCTION TO MANAGEMENT respective job roles that determines the success rate of the organisation. In order to make proper use of the people it is very important to “hardwire” the people with the organisation and line them up with the kind of work they are most proficient in. This is the essentially a people’s perception of working. In spite of the best in class infrastructure and potential client line up, organisational success depends on how resource management is conducted by the people in the organisation. For evidence, Kerr (2018) provides the case of an organisation having maximum loyal clients. Now it will depend on the Business Development Manager of the organisation to decide if the company would locate and land potential new business in the future rather than shuffling around the old clientele or not. Hence, the perceptions of Kerr (2018), help in determining that the direction in which the organisation should move depends ultimately on the way the people in the organisation perceive and implement their idea in any and every department. A study conducted by Garelli (2017) reveals that sometimes many companies end up spending huge capital in recruitment and selection since they experience way too much turnover. This hinders the rate of working in such organisations and the project outcomes are also delayed. In the same context, Insight (2014) contemplates that spending a small capital on the front to employ correct people in appropriate positions can help in the resolution of the issue. Newman (2016), identifies that turnover rate is higher when the organisations treat their people with as much importance as any other resource. On the contrary, the companies where there is a proper strategy for recruitment and selection based on the work preferences and the individual field of interests of the candidates, experience a much lower rate of attrition and there is also high level of sustainability in the operations of the company. Again stating from the business perspective of an organisation, Mayo (2016), states that people are the most significant resource of any organisation because they determine the customer experience. When the customer encounters a problem with the service of any
4INTRODUCTION TO MANAGEMENT organisation, the customer service representative is the only primary service provider for the customer at that moment. Since that time onwards, the staff member becomes the face of the company for that specific customer. The same is implacable towards the staff members of the operations department who are liable for the manufacturing and deliverance of the products and/or service that is required by the customers. Analysing these examples, Garelli (2017) states that virtually every staff members have a key role to play in determining the way in which the stakeholder respond to the organisation in the marketplace. As evident in the statistics provided by Newman (2016), 5% of the most fast paced organisations in terms of profit generation produce maximum number of jobs in their respective corporate domain. The following table shows the results of a survey conducted by Insight (2014), over 1000 companies in order to understand what the organisational assets are, that lead them to success in the long run. Table 1: Valuation of resources based on importance to organisations
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5INTRODUCTION TO MANAGEMENT (Source: Qz.com 2015) Hence, it can be evidently spoken that whether it is a company form the Silicon Valley or the Sub-Saharan Africa, the two resources, namely access to markets and the supply of human capital are considered as the most essential elements that determine their success. Access to markets is another word for the customers (who are part of the people who are stakeholders to the organisation). As highlighted by Purvis, Zagenczyk and McCray (2015), people in organisations are more important than technology which is value with great importance in the organisations, nowadays. In the past the organisations recruited people based on a simple logic. In case if a candidate is having the necessary skill suited for the job role, he or she is hired. However, it requires mention that in the current domain of constant technological disruption, employees are hired not only because of their basic skills. This is because employment of the employees for a single skills only is a risky affair after all. This is because other technological advances are supposed to come up in the upcoming years which would make the basic skill of the employee redundant if they are not able to adapt to the latest technology with the available skills. In this context, theVroom expectancy motivation theorycan be highlighted. The theory emphasises that in order to get the best out of the employees, it is necessary to exhibit variables like expectancy, instrumentality as well as valence (Purvis, Zagenczyk and McCray 2015). Off the three, the factor of expectancy is most relatable here. Expectancy is aligned to demand for the maximum work effort from the end of the respective employee. However, it is commendable that in order to get the best out of the employees, the employees should have access to the right resources, possess the right set of skills and have necessary support like appropriate technology or information to get their jobs accomplished (Miner 2015). Hence, it can be summarised that this theory highlights that people in
6INTRODUCTION TO MANAGEMENT organisation are driving agents behind other resources. It is their zest for hard and good work thatdrivessuccessoforganisation.Asanoutcome,itcanbeconcludedthatsome organisations place technology as a more important resource compared to employees and they employ people for sufficing the technological needs of the employees, not the other way round. However, in strong contrast, it can be concluded that the employee base cannot be kept shuffling based on the change requirements of the organisation. There should be a sustainability in the working employee base of the organisation. In this context, Perucci (2018) states that technology might be the driving factor behind the shifting face of the organisation. However, it always depends on how the employees respond to the other assets and that is what determines the rate of success of the organisation. However, there are evidences that the advancement of technology have caused the elimination previously common job roles and creating space for the new roles. In this context, Katzenbach and Smith (2015), specifies the role of an administrative assistant whose liabilities included handling of correspondence, organisation of documents and management of the document storage systems. Nowadays, the replacement of the physical labour for such job roles have turned up in the form of processing software, email as well as digital storage. Deriving from this fact, Newman (2016) upholds that although the people in the organisations are the most importance resource in any organisation. However, there is a constant fight waged with technology. Hence, in this context, Insight (2014), rightly opines that the most important aptitude for the people in various organisational positions would be their ability to adapt to situations that indulge high end technology in every mode of their operations. Organisations succeed in the brand war or in a highly competitive atmosphere, only when they are able to recognise the growth opportunities of their human capital. This helps the organisations to recognise their untapped talents. This is because, as Kerr (2018) states, most of the organisations is the genre have the same kind of disruptive technology that helps
7INTRODUCTION TO MANAGEMENT them to succeed. However, it is the versatility and experience of their human capita; that is accountable for the difference in their rates of success. That is why, Mayo (2016) states that the modern day organisation should emphasise more on the executive education, rather than the innovation of most disruptive technologies. When the companies gain in better leaders, better decision makers, more effective managers as well as greater return on investment over their human resources, their chances of achieving success becomes greater. In this context, the postulates of theHuman Capital Theorycan be highlighted here. This theory states that investment in individuals can be measured mathematically in terms of the economic value they return to the organisation. This is why,Amabile and Pratt (2016), states that in the same way, organisational resources like technology and database are updated, the people in the organisations should also be enhanced by their expertise through executive education. Conclusion Both the people and non-people assets of the organisation are valuable resources. Every element has their own importance in the scope of the operations of a company. However, people are still perceived to be the most invincible to operations of an organisation. In spite of the best in class infrastructure and potential client line up, organisational success depends on how resource management is conducted by the people in the organisation. the companies where there is a proper strategy for recruitment and selection based on the work preferences and the individual field of interests of the candidates, experience a much lower rate of attrition and there is also high level of sustainability in the operations of the company. Data and structure are also valuable resources for the organisation. However, it depends up on the people in the organisation, how to drive these factors for success.
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8INTRODUCTION TO MANAGEMENT Reference List Amabile, T.M. and Pratt, M.G., 2016. The dynamic componential model of creativity and innovation in organizations: Making progress, making meaning. Research in Organizational Behavior, 36, pp.157-183. Daft, R.L., 2015. Organization theory and design. Cengage learning. Ferres,Z.(2015).TheHumanElement:YourMostImportantBusinessResource. (entrepreneur.com). Available at: https://www.entrepreneur.com/article/245848 [Accessed: 15th March 2019] Garelli, S. (2017). Are people really a company’s most important resource? (Imd.org). Availableat:https://www.imd.org/research-knowledge/articles/are-people-really-a- companys-most-important-resource/ [Accessed: 15th March 2019] Katzenbach,J.R.andSmith,D.K.,2015.Thewisdomofteams:Creatingthehigh- performance organization. Harvard Business Review Press. Kerr, J. (2019). Your People Are Your Most Important Asset. (Inc.com). Available at: https://www.inc.com/james-kerr/your-people-are-your-most-important-asset.html[Accessed: 15th March 2019] Miner, J.B., 2015. Expectancy theories: Victor Vroom, and Lyman Porter and Edward Lawler. In Organizational Behavior 1 (pp. 110-129). Routledge. Perucci, D. (2018). Why Is Human Resources Important? (Bamboohr.com). Available at: https://www.bamboohr.com/blog/why-is-human-resources-important/ [Accessed: 15th March 2019]
9INTRODUCTION TO MANAGEMENT Qz.com, (2015). Why human capital is your company’s greatest asset. (Online). Available at: https://qz.com/403391/why-human-capital-is-your-companys-greatest-asset/ [Accessed: 15th March 2019] Simpleeconomist.com,(2019).HumanCapitalTheory.Availableat: http://simpleeconomist.com/human-capital-theory/ [Accessed: 15th March 2019]