Technological Forces and Trends and Theories of Management Application in Business

Management 1
Innovation and Management Decision Making
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Management 2
Technological Forces and Trends and Theories of Management Application in Business
Decision Making
As an entrepreneur, one tends to look for consumer needs and fulfilling them (Angelidou, 2015,
p. 88). But the large scale economic trend tends to affect them. Some of the technological forces
include augmented reality, mixed reality, virtual reality, edge computing, and internet of things
which have dominated technology. The economic forces include the consumer confidence,
interest rates, inflation, and period of the employment. If these forces are utilized positively; they
bring a great change in the business.
MANAGEMENT THEORY
These are concepts that are recommended to surround management strategies. These include the
tools that provide guidelines and frameworks which are implemented in most organizations
nowadays (Rosenberg, 2010, p. 380). These theories include scientific management theory,
system management theory, contingency management theory and theory x and theory y.
1. Theory y and theory x
This theory is guided by the assumptions which are based on theory x and theory y. for example,
can you believe every worker gets satisfaction that is maximum from the work they do? Or they
it’s a burden to them and they take it as an opinion for the sake of money? As per the Human
Side of Enterprise book by Douglas McGregor it is clear that each style of management follows
perception of the manager’s motivation to the employees. As per theory y, workers are apathetic
as they do not love what they do in work (Vivarelli, 2014, p. 150). The managers who deal with
theory x mostly they authorize everything and micromanage as they cannot trust their workers.
According to theory y, the workers are responsible, self-motivated and they feel they can take the

Management 3
ownership of their work positions. Those managers who deal with employees who adhere to
theory y, they always encourage them when making all decisions and they encourage them in
their activities at all levels.
2. Scientific management theory]
During last days of 19th century, Frederick Taylor made experiments to know productivity of his
workers and he came up with this theory. This theory promoted every area in the business
including specialization and effective productivity. This theory was used to know optimal point
and way to carry out given task (Vivarelli, 2014, p. 152). It was used to enhance cooperation and
efficiency in the workplace for a successful business.
3. System management theory
This theory offers another approach than can be used to management and planning organization.
It proposes business like human body ad it has multiple work components which enable large
system to work optimally (Lakdawalla, Philipson, & Bhattacharya, 2015, p. 253)). The success
of business is determined by interrelations and interdependence of the various subsystems. For
example, workers are the important component in the company although the other things
determine the success of the organization. If the mangers of the organization evaluate well the
events and the patterns in the companies, they follow the best approach. This will enhance great
collaborations with various programs as they work collectively as whole and not like isolated
units.
4. Contingency management theory