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8483 Downloads 12 Pages 2971 Words
The literature review is about creating an innovative business culture. Today, number of small organizations is unable to make profits and grow their business. It happens due to lack of organizational management system. Therefore, these businesses needs an innovative business culture where the culture will include implementation of innovative marketing techniques, tools, strategies and theories. The management department needs to be strong. The managers needs to focus on implementing management theories for the betterment of the company.
The theories of management are implemented for increasing the service quality and productivity of a particular organization. Theories such as contingency theory, chaos theory, system theory as well as theory y and theory x. Most of the managers do not use a single theory during the implementation of some theories and strategies on the workplace. Out of these theories, only theory x and theory y are implemented to increase the productivity at workplace. The theories are described below
System Theory: The managers who apply this theory identifies how different systems affect a worker and how an employee affects the systems around them. Moreover, a system consists of a variety of parts that work and operates together for accomplishing the goals of the organization. The particular theory is a broad perspective that allows managers to investigate events and patterns of the company. As a result, it helps the managers to synchronize programs that would work as a collective whole for the overall mission and goal of the company rather for secluded departments. According to Cunningham (2013), system theories are a useful application in determining the knowledge, skill and competence of employees. Thus, system theories are helpful in knowledge management. Apart from it, this theory helps in creating the value in business. When discussing the quality issues, it is important to focus the link between system thinking and TQM. System theories are also useful for maintaining the relationship within and outside the organization. It helps to establish communication channels, organize the flow of information and rationalize the development of a firm aligned with all the external relationship. In the real world, it is believed that system theories and perspectives can contribute to marketing, service and management of an organization ("Theory first or theory last?", 2008).
Contingency Theory: Tsumoto (2009) stated that contingency theory assets that managers of an organization make decisions concerning about the situation at hand rather than a unique method. Besides that, a manager takes proper action regarding the aspects of most important to the present circumstances. Also, the manager of a company wants to utilize a leadership approach that consists of participation of workers. Contingency theory has been applied in management accounting research for addressing three types of questions. The first question is about the fit between the structure and control of an organization (Madanipour, 2010). The second issue is concerned about the impact of such fits on the performance. The third is about the investigation of multiple contingencies as well as their impact on the design of the organization. The particular theories were developed from the sociological functionalist theories of organization structure like the structural approaches to the organizational studies. Contingency theory is concerned with the issues of control. Here, the issue of monitoring is examined along three main traditions such as the psychological, sociological and administrative perspectives. Now, Sociological perspectives are concerned with the entire organization as well as the large groups within it (Madanipour, 2010). On the other hand, organizational aspects deal with the departments and individuals of a company. The psychological perspectives accentuate standard goal and setting along with rewards, feedbacks and interpersonal influence within an organization.
Theory Y and Theory X: According to this particular theory, an individual chooses to implement is strongly prejudiced by beliefs about the attitudes of the worker. Moreover, the managers who believe that the employees naturally lack ambition and need bonuses and incentives for increasing the productivity of the workflow lean towards this particular theory. According to theory Y, the employees are apparently driven and take responsibility. According to McGregor, there are two sorts of manager: Theory Y and Theory X. On one hand, theory X managers expect that authorities are drowsy, will avoid commitment, and need to just get by. Theory X suppositions assume that workers must be controlled and undermined with the train. According to HITT (2011), the managers of theory X implements an authoritarian style of leadership. Then again, McGregor saw Theory Y administrators as those that hold doubts that authorities consider the organization, will search for commitment, and exercise self-control. Bobic and Davis found that most of the masses can be creative and imaginative. The specific finding reinforces the dispute that Theory Y doubts contribute firmly toward more participative fundamental administration, in the end benefitting the organization (Freeman, 2000).
Chaos Theory: Chaos theory is constant, and it identifies that change is unavoidable and is rarely measured. When an organization grows, the possibility and complexity for susceptible events increase. Moreover, the companies increase energy for maintaining the new level of complexity. More structure is needed for stability when the particular organization spends more energy. However, the system continues to change and evolve (Freeman, 2000). From the financial aspect, the analyses of the chaos theory can be secluded into two sorts. One is a correct fundamental model and the second approach is chaos theory tangibility in showing and deciding the financial direct. The isolated information was separated into the going with orders: Non-linearity, strange attractors, butterfly effect, bifurcation and self-organization. There were challenges related to the chaos theory. For example, Sellnow et al. denounced the usage of chaos theory all things considered since it is unreasonably wide, in this way they suggested using thoughts got from chaos theory and this proposition is in like manner used to show the results (Ye, 2009). In company with this audit, it was promising to study chaos theory thoughts that delineate bona fide issues and their congruity to appraise financial crisis.
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The information and service management gives an individual in-depth expertise regarding the management and development of information-based services. Investigating key issues in information management need the role of information professionals in adapting to the present information environment. The issues vary from complex team to service-level problem. According to Ojasalo (2002), the current issues are sweeping across the experts in the world comprising the information profession. When an organization deals with service based on information management, they face with such grave issues. Moreover, some emerging issues have risen in recent times ranging from knowledge and information society to knowledge and information management to professional attitudes, skills and competencies (Zawacki, 2002). However, the employees and the organizations always resist change whether beneficial or not. The companies also resist change even if it leads to an efficient and better system. Tapping into these issues and having a fresh look into it for information professionals is equally essential for information service management. A review of the contemporary literature shows that since time devotion distinctive attempts have been made to describe these immovably related thoughts. In this manner, it is basic to fathom the definition, difference and relationship among information, wisdom, knowledge and data before information management or IM and knowledge management or KM. In any case, there is no agreement inside the literature on the agreed definitions (Zawacki, 2002). Moreover, different makers have noted immovably that the literature on information management and knowledge management is stacked with refinements among data, information, knowledge and wisdom. Hence, Faucher et al. watch that the etymological foundations of these terms uncovered some insight into the derivation of their significance. Strikingly, the timeliest recorded utilization of each of the conditions happens in reverse demand from their all things considered saw the level of straight forwardness according to the traditional knowledge hierarchy: wisdom is the most settled state, and data the freshest, in English. Now, the key issues are discussed below:
The emergence of knowledge management: The managers of the organization face challenges regarding knowledge management. Initially, security is the main issues (Dekleva, & Zupančič, 2004). The provision of a right level of safety for knowledge management is critical. The managers have to shield their sensitive information from most users. Easy and accessible information are allowed to be shared with proper credentials by the organization to most users. Moreover, during knowledge management operations the managers of the organization have to motivate the employees regarding work. The manager has to motivate because of overcoming the organizational challenges concerning culture and its development. It embraces sharing, changing, learning and improving which cannot be done with the aid of technology (Dekleva, & Zupančič, 2004). The managers have to determine how knowledge should be dispensed and transferred quickly and more efficiently. It is a huge challenge for them. They have to keep in mind about the constant changes in organizational structures so that individuals can learn how to be smart, agile, responsive and quick. Apart from it, the managers of a particular organization have to keep accurate data and also have to interpret them. Keeping current information by eliminating the old and wrong ones is a constant battle for the managers. Additionally, the managers also take care of the active users. It is the duty of a manager to identify and reward the active users.
Information Communication Technology: Today, technology has modernized the way people communicate in their professional and personal lives causes potential problems. Issues such as spending too much time online can be socially detaching, or failure to protect the computer from hackers can lead to stealing of personal information. These problems pose a serious threat to managers and the entire company. Cyber crime is another issue by which the cyber criminals exploit communication technology to perpetrate identity theft as well as steal financial information. Moreover, hackers do this by installing illegal spyware on people's computer without their consent. They sent viruses and worms via emails and as soon as the user opened that mail viruses and worms enters in the system and causes computers to malfunction. Therefore, managers need to protect the information from these hackers by using anti-hacking software which helps them not only to protect the information but also to clean the system from junk files. Managers are also faced with challenges such as privacy. According to Dhillon & Moores (2001), the technology raises concerns about data privacy and protection. Conversely, sensitive information stored on a particular computer can be compromised with the help of carelessness and gossip or by people who have a complaint against their employers.
Globalization of information services: Several major trends are affecting to globalization. It consists of scientific, governance, demographic and economic independence. Initially, demography is an issue to the managers of the company (Boersma, 2012). In developed countries, it has been found that the population is increasing in developed countries. Recruitment has a limit. The managers have to take interviews, and it is a tough job for the managers to find an able one from a group of supposing ten people. On the other hand, science and technology are another factors which a manager needs to take care of. The managers use internet technology and social networking sites for the promotion of the company. Some managers do not like social networking, but still, they have to do it for the betterment of the enterprise. The organizations need to follow the rules and regulation of the government of that nation for the globalization of business (Boersma, 2012). Moreover, these trends are often independent and cannot be separated easily. Aside from, the various factors connected with the trends in globalization has been shown to affect the population growth which is a serious concern for the managers of a particular company.
The organizations need to solve complex team and service level by using marketing tools and strategies. Marketing tools and marketing strategies are different from each other. A marketing tool is used for implementing a marketing strategy. Here, marketing strategies and tools are described below:
Making a partnership with associates: Partnerships in marketing have some advantages for pushing a marketing campaign. Moreover, for the starters when an individual collaborates with someone, he or she tend to deliver the better content. Based on the research of Cavicchi (2012), partnership with associates helps in strengthening the relationship between them. Consequently, it would be helpful for making profits with less workforce. According to Sidney Calloway, making partner starts with a surviving loyalty to superiority in both work and art of an individual’s practice. Sidney also recommended to make friendships and built a strong professional network. Consequently, it will benefit them both.
Helping customers to solve a problem: If an organization and its employees help a client who got stuck in a problem, then the company will gain trust and loyalty from the customer's side. Afterwards, the organization can achieve its objective of satisfying customer and thus achieve its other business goals ("Customer-Centric Marketing Strategies: Tools for Building Organizational Performance2014 1 Edited by Hans-Ruediger Kaufmann and Mohammad Fateh Ali Khan Panni Customer-Centric Marketing Strategies: Tools for Building Organizational Performance Hershey, PA IGI Global 2013 478 pp. 978-1-46662-524-2 $185.00 Hardcover", 2014). Moreover, customer satisfaction is helpful for the promotion of a company. The satisfied customer will recommend another customer of a rival company to use the product and services of the particular organization. Thus, the particular organization can achieve competitive advantage.
Using big data to target customers: Today, big data is helping the organizations to target their potential clients. For example, a pizza chain uses data to send out coupons to their customers who are experiencing inclement weather or power outages (Kearney, 2014). The implementation of big data is a proper marketing strategy to predict the purchasing trends. With the help of this information, the company can get in touch with the customers before they search for the services or products.
Implementation of digital media: According to Liu (2015), digital media is a marketing tool that includes SEO or search engine optimization, interactive online advertisements, mobile marketing, online partnerships like sponsorships and affiliate marketing and opt-in email. With the help of digital media, the organization can quickly reach to their target customers. Moreover, the key component of a digital marketing tool is web analytic (Fazlollahtabar, & Yousefpoor, 2009). Web analytic provides information on an Internet user’s online activities. The organizations can hire digital media marketing agencies for engaging themselves in digital media marketing. Consequently, the particular marketing tool will help companies to solve the service-level problem.
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Using social media: Like digital media, social media is also a marketing tool, and it is a subset of digital media marketing. Though, the objective of social media marketing tools helps the managers of the organization to develop a collaborative, online relationship with the clients rather than to mine secretly for customer data ("Using ontology for goal-based query to evaluate social media data", 2016). Some examples of social media marketing tools are tweeting, blogging, Orkut, Facebook, YouTube, LinkedIn, Reddit as well as Pinterest. Social media marketing tools help organizations solve complex team issues as well as service-level problems. The particular marketing tools help organizations to build a strong relationship with the potential customers.
Using Promotional items: Business cards, press kits, websites, informational videos and merchandise all falls into the category of promotional items. These promotional items are marketing tools, and some of these elements consist of large amounts of detailed information as well as highly attributes of the service or products ("Using ontology for goal-based query to evaluate social media data", 2016). Moreover, business cards and trade helps a company with an opportunity to market abroad.
The implementation of innovative business culture helps an organization to gain more profits and it also helps them to promote their brand internationally. Moreover, innovation leads to new way of learning. The employees will be able to learn these innovative jobs by means of advanced technology.
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