Business management Essay Example | Topics and Well Written Essays - 2250 words

Business management - Essay Example Various management practices depend on the trust and empowerment that are designed to increase employee assurance to performance objectives and organizational objectives. The scenario of market place and space are rapidly changing since few years. Therefore these changing scenarios have convinced the management of company and shareholders to adopt a new archetype based on new values. For an example, in banking sector new financial products are jumping up in quick speed. These may create several problems and tough times for the management board in order to compete in this global competitive market. The organization cultures need to change according to the change of market place scenario. It involves understanding the current role, current culture. There is need for greater flexibility and speed that can be achieved through employee involvement in the management decision making. Due to high flexibility, employees get motivated to innovate without any kind of bureaucracy. Red tapes and bureaucracy generally aggravates employees and shuts them down. Employee involvement in management decision making is an old idea that has been frequently invigorated by new generation organizations across the globe. For an example, the oldest system of documented of employee participation is a particular document called â€Å"employee suggestion system† established in 1898. The return of nominal investments comes as superior level of employee motivation, productivity, creativity, and commitment that will shift the organization towards success.