Business Management Practice Assignment Example | Topics and Well Written Essays - 2000 words - 3

Business Management Practice - Assignment Example More specifically, the new organisations have forgone the idea of individual accountability, rather have willingness to adopt Total Quality Management principles such as team based working environment, experimentation, continuous learning, benchmarking, reduced cycle time and others etc. The role of communication and information sharing has increased tremendously among business organisations because the managers strongly believe that they are operating in a complex world of globalisation, where they have to grapple with challenges at every stage. This report will critically evaluate the notion that successful business management usually requires the implementation of an appropriate management structure and culture together with effective methods of managing the behaviour and attitude of the business workforce. The researcher will use classical management theories to support above mentioned statement as well as will provide examples of multinational organisations that have implemented classical model of management. It is worth mentioning that classical approach does not focus on creation of flexible organisational culture and employee empowerment; therefore, it has received various criticisms by modern business management experts and theorists who emphasise on adaptability, change management, decentralisation, experimentation and collaborative approach as new workplace principles. In addition, the report will also include a discussion on the approach of public and private sector entities towards the ideas of corporate social responsibility / corporate philanthropy and business ethics. The importance of management and organisational culture could not be denied in contemporary business environment because discrimination free and shared value based culture produces a satisfied pool of employees. It should be mentioned that the more satisfied the employees are, the higher their job commitment, morale, confidence and trust over their