• Evolvement of the Management Industry with the Advancement in Technology

    Technology has become so widespread that there’s hardly any industry that has remained untouched. New innovations and gadgets are being consistently introduced and they spread all over the market before you even realize it. Newer innovations lead to better and more efficient ways to get the work done. Not only has the modern technology served to increase the efficiency of the workforce, but it has also been a major factor forreducingthe manual work. So, how did everything actually begin? And how exactly has the management industry, in particular, evolved over time? Has technology got any role in the management sphere of today? How was the industry surviving with management strategies before all these innovations came into the picture? Read ahead to get an insight, and get answers to all those questions!

    What do we mean when referring to the word “Management”?

    “Management is the organization and coordination of the activities in an industry, business or any firm using both human and non-human resources for the accomplishment of defined objectives and goals.”

    For example, a software company utilizes the IT skills of its human resources to work on various software. While the people coordinate with each other and are managed to carry out work in a systematic way, they are also required to follow the regulations of the company in order to complete a project or task before the deadline.

    Now the question is what role does the management play in all this? Outlined below are some of the key roles that the management department in an organization is expected to perform:

    • Helps in achieving group objectives.
    • Utilizes all the physical human resources productively, which leads to sufficiency in management.
    • Maximum results are achieved through minimum input and with proper planning.
    • Develops an equilibrium such that an organization can survive in a changing environment.
    • Establishes effective authority and responsibility relationships.
    • Efficient management builds better economical production, which in turn helps to increase the welfare of people.

    How has the Management Evolved over the Years?

    It all began in the 1940’s and traveling all the way to the present, Management continues to expand with newer innovations being implemented in the market.

    Management as a Science [1940-1950]

    The term “Management” came into the picture in the mid-twentieth century (particularly around the 1940’s) where the standards primarily focused on increasing productivity and efficiency of work through:

    1. Division of labor
    2. Standardization
    3. Centralization
    4. Hierarchy standards

    Functional Organizations [1950-1960]

    Along with the previous standards being implemented, Human Resources (HR) movements began to come into the scenario as the growth of more complex organizations started in between the 1950’s and 1960’s. It was then that Managers recognized the fact that the human influence had a strong impact on production, hence, productivity tools like Goal Setting, Performance reviews, Job Descriptions, etc. were developed.

    Strategic Outlining [1970’s]

    This is when the focus from the measuring functions changed to resource allocation and tools like:

    1. Strategic Planning (GE)
    2. Growth-Share Matrix (BCG) and
    3. SWOT (Strengths, Weaknesses, Opportunities, and Threats)

    These tools were used to assign strategic planning processes in order to get the work done. Academics began to develop probably after many decades of ‘best practice’ and ‘one size fits all’ solutions.

    Competitive Advantages [1980’s]

    Competitive environments began to rise and connections in the business environment began to fall and with a growing management consultancy industry, competitive advantages became a priority for many organizations. So, tools like Total Quality Management (TQM), Six Sigma, and Lean entered the picture and began to be used to measure processes and enhance productivity. Even though employees were more satisfied in collecting data, major decisions were still made by higher authorities, and the goals were used to manage people as well as to maintain a state of control.

    Process Advancement [1990’s]

    As TQM, Six Sigma, and Lean remained popular,more integrated organization-wide approaches and strategies took over as business process re-engineering and benchmarking got introduced in the 1990’s.Implementation of new tools such as Strategy Maps and Balance Scorecardscame into the industrial focus.

    Management in the current times [2000’s-Present]

    With time, we have seen how technology has got entwined in each and every aspect of our lives, be it on personal or professional fronts. Talking specifically about the management industry, the advent of technology has made the things much easier and accessible for the managers than they were ever before. We now have various software that help minimize the manual efforts while boosting the output. Besides, we have seen the rise of technologies like Big Data Analytics, Machine Learning, AI, etc. which are currently the biggest influencers in shaping up a new industrial landscape. However, irrespective of whatever development happens in the management sphere, the key aspects of the Management world still depend on how to guide the people, how to solve problems, and keep everything organized, in order to follow the right path.

    We, at IIMR, one of the most highly trusted MBA colleges in Madhya Pradesh,believe that to attain true understanding about anything, it is crucial that you go deep down the details. And we apply the same mantra to our education impartation style as well. Each of our pupils are ingrained with thorough details about each and every aspect of the curriculum so that they know even the minutest things about the topic in concern. Our key aim at IIMR is to ensure that our students grow to their full potential when they step out in the professional world and we take all the measures to help them achieve that.

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