Management theory is characteristically the basis in which methods of management are interpreted, problems are identified, and solutions there to are prescribed. As such, management practices in various organizations rely on applicable theories either implicitly or explicitly. In light of this, management theory and practice cannot function optimally individually; therefore, managers are incapable of choosing preference of one over the other. Therefore, management theory and practices are complementary to each other; hence they function together to serve a single managerial purpose (Amason 180).
Management theory is a critical component that aids in the development of knowledge, facilitating accountability, transparency and accessibility to management practice. Theories are points of view in which people interpret and make sense of their experiences in the world. Therefore, the relationship existing between practice and theory is significantly critical since in the absence of theoretical knowledge it is virtually impossible to make the appropriate decisions and put available skills into practical applications.
Management theory provides an intimate understanding and enables managers to observe challenges and problems from various points of view which to optimal decision making and subsequent practice. For example, motivational theories such as Abraham Maslow’s hierarchy of needs is critical in determining which motivators will impact an employee’s productivity; as such a manager would not try to motive a lowly paid clerk by giving them luxurious retreats (Hoffman 18). This is because such an employee is motivated by things that are in their social and economic levels such as incremental wages. Therefore, a manager who understands management theory will be able to develop a motivation structure that is equitable to each employee's needs; which when met they lead to increased employee output.
As a consequence of the challenges faced by modern organizations, the appreciation and understanding of the basic precepts including an in-depth knowledge of the subject matter is essential in managerial problem solving. This ensures that problems are solved promptly through informed decision making which averts instances of delayed decisions and late results. In order to enhance productivity and employee motivation, managers should incorporate critical aspects of management theory in their organizational setting; as such, they are able to incorporate best practice ideologies into the organization functional operations (Amason 46).
Meanwhile, as organizations continue to evolve; new management practices emerge factoring organizational changes as a result of changes in industry standards, technological innovations and adoption of new management practices. In such circumstance, traditional management theories may not be applicable; however, modern management theories such as generational theory are significantly critical in modern management. For example, the organization comprises of individuals of various age groups; as such, there exists generational variations in the workplace.
In light of this, traditional management theories may not have similar impacts to these age groups. Therefore, a modern approach towards management is required where the manager identifies each age group, and its functional aspects as a critical factor to the implementation of best practice management. As such, individuals belonging to an older generation may not be motivated through modern technological innovations; however, traditional aspects of motivation such as provision of medical and retirement schemes could be significantly motivating. On the other hand, the younger technologically savvy generations may be motivated through modern aspects; such as provision of free internet and telephony service, provision of technological gadgets such as Mobile phones or laptops could significantly impact on their productivity.
Management like any other profession is developed through trial and error approaches; hence they can rely on management theory as a source of underlying knowledge and guidance in the development of an optimal management structure for their respective organizations. As such, managers who attempt to manage through isolation of management theory must rely on their experience, intuition or luck. Meanwhile, a manager who incorporates management theory into practice increases employee motivation and productivity in contrast to a manager who opts to use either approaches individually as trial and error (Amason 105). In light of these, the optimal choice for a manager is not to choose management theory or practice but to incorporate management theory and practice as a unitary approach towards management.
Motivation is a critical aspect of management in any technological enterprise, as such; managers must develop an effective structure that promotes a culture of self motivation and empowerment while developing a suitable environment that encourages innovation. In most modern organizations, it is difficult to invoke change where freedom is encouraged within the organizations setting.
Meanwhile, a significant number of companies still use stagnate management practices where employees are trapped in cubicles, premised on old and traditional micromanagement methods that do not achieve the best results and products. In light of these, it is essential for a company to explore ways and techniques of rewarding their staff with the aim of motivating them. This is aimed at ensuring that the company becomes a top technological innovative company that invents the best products through promotion and development of innovative ideas.
Therefore, a technological company must tailor its management to facilitate the optimal environment where employees are rewarded intrinsically and extrinsically. This enables the company to be a leader in innovative technologies and product development leading to the production of the best qualitative products in the market. Therefore, the determination of the optimal motivational theory to incorporate into practice is significantly critical.
Technological products are the basis in which the modern world functions; as such, a technological company should become a domestic name that translates into verbs which are embedded into values and culture of employees who develop the company’s products. In light of this, managers who wish to transition their companies into the next level must identify unique ways of rewarding their employees for their work given the prevalent economic conditions. A company through its innovations in managerial practices can set a precedent for other companies to emulate, or it can re-evaluate the existing managerial dogma. This is done with the intention of employee empowerment while promoting cohesion where they work as autonomous entrepreneurial teams.
Thus, the company advocates for free thinking and facilities comfortable working environments which do not deprive employees of their personal freedom and unique individualism. It is crucial for mangers to appreciate that modern culture has undergone a paradigm shift. This is observed where talented individuals from high rated educational institutions are seeking work from companies that give benefits and perks; excluding monetary incentives and health benefits. Therefore, managers should identify intrinsic and extrinsic motivators in order to attract the best talents. In light of this, the optimal motivation theory that is applicable in a technological company is the Herzberg’s two factor theory.
Herzberg’s two factor theory of motivations is premised on identifying an individual’s actual motivator. The two factor theory is premised on dissatisfiers-satisfiers or the intrinsic-extrinsic aspects of motivation or hygiene motivators (Hoffman 29). Herzberg’s theory describes these factors as including working conditions, salary and organizational policies. Hence, motivators are intrinsic in nature while satisfiers are identifiable to motivation such as growth, achievement rewards and increased responsibility. Hygiene factors of motivation are the basis in which a manager formulates motivational structures and criteria (Hoffman 43). Therefore, managers should ensure that these factors are implemented to ascertain that employees are not dissatisfied; furthermore, they should ensure that factors intrinsic to jobs in order to ascertain that employees are inherently satisfied with their work.
As such, managers can prevent instances of poor performance, productivity or morale through the addition of both motivators and hygiene factors. Significantly, each employee’s motivation should be evaluated individually since people are motivated by different things; hence one persons motivator may not Impact another person. Any modern technological enterprise must appreciate the significance of motivating employees through observing the enterprises fundamental objectives of remaining relevant to evolving market needs and profit making through attraction, motivation and retention of top talents for optimized performance. This is realized through providing the best motivational rewards which are best described through the underlying principles of Herzberg’s two factor theory of motivation (Hoffman 32).
Change is a continuous process in any organization as a consequence of various factors; these are critical in identifying the most opportune moment to incorporate change in the organization. At times, it is critical for the organization to undergo significant restructuring as a consequence of factors within its designate industry or area of specialization and expertise. Therefore, when an organization is restructured, subsequent organizational changes need to be incorporated in order to align organizational operations and functional components with the restructured organizational dimensions. Such changes can be as a result of mergers; where changes are critical for the incorporation of the merging companies’ best practices to form a new formidable enterprise (Stickler 5).
In some instance, a company’s productions levels become low as a consequence of production deficiency or market related challenges. When production quotas are not med as a result of redundant, outdated or obsolete production methods, a critical review of these should be carried out to determine the best way to impact production positively. In such a scenario, a company must change in order to embrace newer methods of production which improve production, reduce operational costs while increasing efficiency. Meanwhile, a company’s competitive advantage in the market could be undermined through the emergence of new technologies, product innovations or marketing strategies. In light of these, a company must change in order to counteract negative impacts influencing its competitive advantage in the market. This could entail adoption of new technologies, product innovation and differentiation or re-alignment of marketing strategies.
Employees are a critical resource for any organization; therefore, their output has a direct relationship with the level of their satisfaction in the organization. When an organization neglects to address its employee’s needs through motivation and rewarding, such employees are bound to be dissatisfied. This can lead to diminished morale and the subsequent impacts on production and efficiency. Employee dissatisfaction can have detrimental impacts on the organization since it can lead to go-slows, strikes or sabotage of organizational operations (Stickler 6).
Therefore, a company must change through restructuring its motivational and rewards strategies with the aim of increasing employee output. In the event that a company does not change to address employee dissatisfaction, it can be faced with massive problems in recruiting and retaining its existing employees. This is because people tend to seek jobs in companies which incorporate motivation and rewards for employees in its operation. As such, existing employees who are dissatisfied would leave the company in search for better opportunities elsewhere. Therefore, a company must change constantly through continuous reviews of employee motivation and rewards schemes in order to ensure that they are satisfied, hence leading to increased individual and organizational productivity.
Meanwhile, a company must change when it observes diminishing customer satisfaction with its products. Customers are the most prized aspect of the organization; therefore, their satisfaction is paramount. If customers are not satisfied with a company’s products, the company's existence is threatened since the customers are its lifeline. In such a case, change is critical to ensure its survival. Therefore, the causes of customer dissatisfaction must be determined, and the appropriate changes effected with utmost expediency.
The company’s products could have readily available substitutes and alternatives from other companies in the market; therefore, in the event that the company fails to change, its customers readily shifts to the next alternative or substitute from other companies. Hence, the company loses its customer base since dissatisfied customers warn other customers of the products deficiencies. In light of this, when customers are not satisfied with the company’s products, it must change. Furthermore, organizations are constantly changing as a result of technological, political, social and economic changes. In order for a company to remain relevant and competitive, it must also change when these changes occur.