Management Theories And Management Theory

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Management Theories Management theory can be used in many organizations when starting out a business. It addresses how managers and leaders relate to their organization in the knowledge of their goals. It implements on how to set the goals and motivate their employees to perform in a high standard. Management theory consist of three important aspects operation strategy, innovation management and process management. Operation Strategy is to maximize the effectiveness of the whole production, but at the same time minimize the costs of the organization. Operation strategy is what makes or breaks an organization. It is when an individual is setting out an organization they have to think of how to get started and what they see as a result,…show more content…
Keeping less inventory of an item also helps them understand what the customers are purchasing and to see if it is worth getting more of that inventory. That is also why they have different items in the store and online purchases. Every organization has an operation strategy to make the business work. We have to look at the big picture first and see what goals can be set up to get there with being successful. Innovation management is based on decisions and creativity that move an idea into realization. It is like looking into the future and seeing what customers want. Innovation management is constantly competing with other organizations. Everyone wants to have the most high tech electronics, toys, and even vehicles, so this is where innovation management comes in. It is develop of new products, services, or technology and people are waiting for it to come out. The business is about moving forward and not looking back. Whether if it is a small or large organization all companies need to do this; at the end of the day they all compete with each other even the mom and pop businesses. They should all be consistent on wanting to create new product and services for buyers to want to spend that money in their organization. “Here’s what will happen. Everything will speed up. Processes, functions, data, inventory turns and speed to market, will force employees to learn a whole new language called innovation. Business as usual doesn’t cut it any
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