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Chapter
21st-Century Corporations
Global
Speed
Speed in the 21st century company is a business strategy built on a virtual network of suppliers, manufacturers, and delivery firms
People-Driven Enterprises
successful 21st-century company is one that realizes that it is the people that make up the business Some key challenges for managers of 21st-century enterprises:
The
Understanding the challenges the enterprise faces Seizing opportunities Managing frustration
Managing People
Responsibilities
of all managers:
Technology
E-Commerce Changing
of smaller companies with fewer employees Decline of management hierarchies, with an increase of networks of specialists Increase of technicians to keep networks operating Decline of the importance of seniority in compensation Overall worth based on performance plus the market value of a given position
Competitive Strategies
Competitive
Strategy Requires
Highly Skilled Employees More Employee Discretion Greater Investment and Risk
Quality-Enhancement
Strategy Requires
Repetitive and predictable behaviors Long-term focus Modest amount of cooperative, interdependent behavior High emphasis on quality, modest concern for quantity
Cost-Reduction
Strategy Requires
Tight fiscal and management controls Minimization of overhead Pursuit of strict economies of scale
Speed
Requires
Highly skilled employees who are time-focused Managers and employees must support change Company culture must support the fast-pace
must give employees a higher stake in their success Companies must convince employees that rewards are derived from productivity Companies must recognize that no productivity problems have a quick fix Companies must embrace the philosophy of constant learning and improvement
Employee understanding of company practices, democratic supervision, and employee involvement Employees perceptions of their overall satisfaction and safety
Resource Managers must play four key roles that are consistent with current business trends:
Strategic Partners Innovators Collaborators Change Facilitators