Contemporary issues in management Essay Example | Topics and Well Written Essays - 2750 words

Contemporary issues in management - Essay Example From this research it is clear that change management is frequently gaining importance which in turn indicates the importance of the passage in the present time. While exploring the issues of modern management, they are also linked with the context of the passage. Furthermore, a theoretical approach is adopted along with real examples of companies and their change leaders. It is elaborated in the passage that the idea of change management and its importance in the achieving success in different circumstances. Machiavelli was of the view that in order to achieve success in different place and circumstances, local resources should be optimally utilised rather exploitation. Furthermore, his passage indicated that ethical values should not be underestimated while dealing with change in the business environment. Also, strong ethical values bring strong goodwill in the market place. Main idea of passage of the Machiavelli is managing change while encountering the problems of the change. It is written the passage that when a company enters into a new country it should have understand its varying needs and its culture in order to stay there for long term. On the contrary, if a company ignores or avoids a country’s culture on which its entire system is based then that company surely fails to sustain there. Machiavelli writes in the context of the country that if one country wants to succeed over another country then first of all it should gather support of general public of that. Along with this, the inhabitants of that country should be treated as useful resource for utilisation rather than for exploitation. Thus, it says that company should manage the change with ethical values and give the due respect to the inhabitants (Zadek 2004). A company which is constantly crossing milestones in its respective area may suddenly fall down because it’s changing relationship with its business environment and lack of response on the part of the company. Change is ine vitable and minor changes continuously occur in every industry. However, major changes like recession; decide the future of the companies in relation to success and failure. These changes can be related with a number of aspects of the business, however, three fields have major impact on the companies i.e. macro environment, technology and government. These changes together form a basis for the uncertainties in the environment. In order to address the uncertainties in the environment, there should be formulation of certain strategies and policies which again indicates relevance with the Machiavelli’s passage. Thus, mission, vision, goals and philosophy of a company possess an important place in managing the change (Worthington and Britton 2009). It is supported by a series of examples. In order to understand the influence of the change management on level of success or failure can be understood by a series of examples. In this context, example of British Airways is very crucia l. In 1981, the company was going through one of its worst time phase. Then the company appointed a new chairman who went

M6 discussion Assignment Example | Topics and Well Written Essays - 500 words

M6 discussion - Assignment Example equired (examining whole population will take much more time than a sample), budget is limited (cost of examining few individuals will be low as compared to whole population), or sensitive information (such as sexual harassment in a large organization) is examined. A population proportion may be appropriate to use when population is small, required sample size is close to population, database already exists (if the data are on disk, we can examine 100% of the cases), or there is a legal requirement (The 2010 decennial population census). The large sample confidence interval is a range (or an interval) of values used to estimate the population characteristic. The interval is estimated using sample data. A confidence interval is associated with a confidence level (such as 95% or 99%) that gives us the success rate of the procedure used to construct the confidence interval. The confidence level is the probability that the confidence interval actually does contain the population characteristic, assuming that the estimation process is repeated large number of times. A large sample confidence interval can be constructed for a single proportion or for a difference in proportions. The large sample confidence interval can be used for making inference from the biological experiments. For example, suppose we take a sample of seeds for any given plant and count the number of germinated seeds. Now, from this sample proportion, we can give an estimate of population proportion for the number of seeds that will be germinated by using the large sample confidence interval for a single proportion