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MGT 197

State-of-the-art Management

Lynnie Faith Aquino

Arlene Faye Beltran

Jericha Chrzl Cantiller

Kyra Ann Dianon

Esther de Leon

Caryn Joy Muega

Bianca Nardo

Suzanne Seeris

June 25, 2013

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State-of-the-art management is the level of management wherein it has reached its

highest development and optimum level of management innovation and implementation

of management practice, process, structure and technique. It is the total scientific and

technical knowledge currently available and is applied to a design or product.

Being a product of careful studies and researches related to the discipline of

management, it is safe to say that state-of-the art-management involves a lot of

techniques, concept, and frameworks which are already used universally. Before reaching

this so called state-of-the-art management, different schools of thought were first taken

into consideration.

In short, state-of-the-art management is management at its best or top quality.

This is characterized by the following:

Management of changeThis involves coping with the changes in technological, legal and organizational

aspects. Also, state-of-the-art management embraces globalization a

Management

of

Change

Customer-centered

E-based

Operations

State-of-the-art

management

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comprehensive term for the emergence of a global society in which economic, political,

environmental, and cultural events in one part of the world quickly come to have

significance for people in other parts of the world. It describes the growing economic,

political, technological, and cultural linkages that connect individuals, communities,

businesses, and governments around the world.

More companies becoming e-basedGlobalization is the result of advances in communication, transportation, and

information technologies. With this, more companies are becoming electronic based

resulting to the growth ofmultinational corporations (businesses that have operations or

investments in many countries) and transnational corporations (businesses that see

themselves functioning in a global marketplace). The international institutions that

oversee world trade and finance play an increasingly important role in this era of

globalization.

Emphasis/caters more on customer serviceLike customer-relationship management, state-of-the-art management focuses on

satisfying the customers and fulfilling their needs and wants. The customer should always

be the center of all transactions. One of the most important things to consider is to

understand how they behave. Through this, it would be easier to determine what products

or services to offer to them. Consequently, it will foster long term loyalty and in turn will

most likely lead to very high return.

Higher business ethics (considered necessary for the collective interests ofemployees, shareholders, etc.)

This refers to the taking of full responsibility of the management to meet the demands

and benefits that are necessary for the employees in terms of salary and compensation,

workplace environment, as well as to maximize the value of the

stockholders/shareholders investment.

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Team-based (interacts with everyone to get the job done)In order to achieve the state of the art management, synergy and cohesiveness

amongst the members are needed. When given a task, unity among the members will

accomplish the work in a shorter span of time. If theres unity, every member will be

given a chance to share or impart their knowledge and ideas, making the team healthy for

an individual.

Knowledge-basedBusinesses today are more inclined in hiring educated professionals to share their

knowledge with the company. Managers must be able to help their employees to be more

efficient and effective in getting their job done. This can be done through trainings and

coaching of managers. Before managers makes the decision, now decision making is the

sharing of information between manager and subordinates.

Emphasis on vision and valuesVision and values are one of the important implications of a successful business.

Formulating a clear vision and values to which employees can commit themselves is very

necessary. Vision refers to the outlook or the objectives of the management to their

company in the future; the dreams and aspirations of the business in a long term process.Values are the habits and expectations of the people in the organization and it should be

positive enough to achieve success.

This concept of state-of-the-art management implies that managers should be the

following:

Flexible, willing to adapt to changeGiven that state-of-the-art management aims to offer the best or the highest

quality, managers must able to rapidly change their techniques and approaches in line

with the corresponding changes in the business world. Most of the time, the managers

are tasked to think of how they can cope with the change in a firm. As a result, this

will have a positive effect to the company because flexibility entails a more

sustainable business in the future.

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InnovativeTogether with being flexible, managers should also be more innovative and

should be the ones initiating change within the enterprise. Moreover, most of the

successful companies in the world are the most innovative. In other words, managers

should bring about change and innovation to achieve their goals.

Open-mindedSince managers deal with people, it is important that they are adept in listening

and understanding the varying ideas and opinions of their subordinates. In addition,

managers should be willing to accept mistakes and criticisms from others.

Accordingly, they should also know how to give constructive criticisms to their

subordinates to improve performance and minimize conflict.