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Module 5 | Emerging Trends in Management Page 1

Table of Contents 1 Introduction 2 Total Quality Management 5 2.1 Basic Approach of Total Quality Management 5 2.1.1 Awareness 7 2.1.2 Defining Quality 9 2.1.3 Historical Review 10 2.1.4 Obstacles 11 13 2.2 Benefits of TQM 14 2.3 TQM Exemplary Organisation 3 Technology Management 3.1 Classification of Technology 15 3.2 Roles Relative to Technology 19 3.3 Technological Change 19 19 3.3.1 Measurement of Technological Change 20 3.4 Technological Change Theories 20 21 3.4.1 Neo-Classical Theory 21 3.4.2 Marxist Theory 22 3.4.3 Schumpeter’s Theory 22 3.4.4 Evolutionary Theory 23 3.4.5 Market-Pull Theory 23 3.4.6 Technology-Push Theory 27 3.5 Types of Technology Management 30 3.5.1 Innovation Management 31 3.5.2 Talent and Knowledge Management 31 3.5.3 Talent Management and Employee Development 3.6 Keys of KM and its Contribution to TM Activities Module 5 | Emerging Trends in Management Page 2

Table of Contents 3.7 Achieving Competitive Advantage Through Talent Management 35 4 Leadership 37 38 4.1 Characteristics of Quality Leaders 38 4.2 Leadership Concepts 4.3 7 Habits of Highly Effective People 5 Ethics 43 6 Organisational Development and Change 6.1 The Importance of Change 50 6.2 The Imperative of Change 52 6.3 Planned Change 55 6.4 Change Agents 56 6.5 Unplanned Change 60 6.6 Lewin’s Force-Field Theory of Change 61 6.7 Lewin’s Force-Field Theory of Change 62 6.8 Lewin’s Three-Step Change Process 63 6.9 Resistance to Change 63 64 6.9.1 Sources of Resistance 64 6.10 Minimising Resistance to Change 7 Change Program 7.1 Meaning of Change 77 7.2 Forces for Change 77 7.3 Level of Change Programs 78 7.4 Planning for Change 78 Module 5 | Emerging Trends in Management Page 3

Table of Contents 7.5 Effectiveness of Change Program 84 7.6 Change Process 91 7.7 Change Agents 92 7.8 Change Options 93 7.9 Human Reactions to Change 94 8 Introduction to Organisation Development 114 114 8.1 Emerging Concept: Organisation Transformation (OT) 116 8.2 History of Organisation Development 118 8.3 Foundations of Organisation Development 119 8.4 Culture and Group 119 8.5 Organzational Culture 121 8.6 Fundamental Interventions of Organisation Development 124 8.7 Recent Organisation Development Strategy 124 8.8 Strategies of Organisation Development Implementation 126 8.9 Models of Organisation Development 127 8.10 Organisation Development Interventions 130 8.11 Principles of Organisation Structure 120 8.12 Departmentalization 8.13 Technology and OD Solutions 137 138 9 Process Consultation 138 138 9.1 Edgar Schein’s Process Consultation 142 9.2 Team Building 142 9.2.1Developing Winning Teams 9.2.2 Balanced Teams 9.2.3 Communication in Teams 9.2.4 Characteristics of High Performing Teams’ Members Module 5 | Emerging Trends in Management Page 4

Table of Contents 9.2.5 Practices to Facilitate Development of Teams in Organisations 143 9.3 Organisational Innovation 143 9.3.1 Definition of Innovation 143 9.3.2 Blocks to Innovation 144 9.3.3 The Seven Levels of Change Model 145 9.3.4 Learning Organisation 145 10 Corporate Social Responsibility 10.1 The principles of CSR 172 Module 5 | Emerging Trends in Management Page 5

1. INTRODUCTION Image Source: www.freepik.com “Management is the art of getting things done through and with the people in formally constituted groups,” Harold Koontz says. It is the skill of creating an environment in which people can perform and individuals may work together to achieve group objectives.” To achieve greater results, a manager must properly manage the staff. Emerging Trends in Management or Recent Trends in Management are management practises introduced by managers for improved management. Managerial tendencies shift over time in response to changing market conditions. The following are some of the new management trends: Total Quality management Technology Management Talent and Knowledge Management Leadership Organisational change and Development Corporate Social responsibility Module 5 | Emerging Trends in Management Page 6

2. TOTAL QUALITY MANAGEMENT To achieve long-term success, total quality management means that every person works to improve our culture, procedures, services, systems, and so on. There are four categories of total quality management: 1 Plan 2 Do 3 Check 4 Act The PDCA cycle is another name for it. The planning phase is the initial step. The most important step of comprehensive quality management is planning, and it is during this phase that employees must come up with problems and questions that must be addressed. They must identify the many challenges they experience in their daily operations and evaluate the core causes of the issues. Employees are expected to do necessary research and gather relevant data in order to assist them in finding answers to all challenges. This is the planning phase, during which personnel must concentrate on their problems, determine the root reason, and give remedies. The doing phase is the next step. Employees design a solution for the challenges mentioned in the planning phase during this phase. Employee challenges are addressed through the development and implementation of strategies. This stage also assesses the efficacy of solutions and initiatives. Module 5 | Emerging Trends in Management Page 7

The third phase is the checking phase, during which personnel do a comparison analysis of before and after data in order to confirm the operations’ effectiveness and measure the results. The following stage is the acting phase, during which personnel document their findings and plan to address new issues. Toyota implemented its just-in-time inventory system based on this concept. As the bear generator, the corporation chose to retain only enough inventory on hand to fulfil client requests to make this assembly line more efficient. Before, each component in Toyota’s assembly line was given a physical card with a unique inventory number. The car is taken and shifted up the supply chain just before a part is installed, effectively requesting another of the same part. This enables the organisation to maintain a lean inventory and avoid overstocking superfluous assets. Effective quality management resulted in higher-quality autos that could be manufactured at a lower cost. Total Quality Management (TQM) is a modernization of the traditional business model. It’s a tried-and-true strategy for surviving in world-class competition. Only through changing management’s behaviours can an entire organisation’s culture and activities be modified. For the most part, TQM is common sense. We can deduce the meaning of the three terms by analysing them: Total- Made up of the whole Quality- Degree of excellence a product or service provides Management- Act, art, or manner of handling, controlling, directing, etc. TQM is thus the art of managing the entire in order to attain excellence. Do unto others as you would have them do unto you, is a simple but powerful approach to convey it. TQM is defined as a concept as well as a collection of guiding principles that serve as the foundation of a company that is always improving. It is the use of quantitative tools and human resources to improve all aspects of an organisation’s processes in order to Module 5 | Emerging Trends in Management Page 8

meet and surpass consumer needs today and in the future. TQM is a disciplined method that incorporates core management techniques, existing improvement efforts, and technical tools. 2.1 Basic Approach of Total Quality Management TQM requires six basic concepts: 1. A committed and involved management to provide long-term top-to-bottom organisational support. 2. An unwavering focus on the customer, both internally and externally. 3. Effective involvement and utilization of the entire work force. 4. Continuous improvement of the business and production process. 5. Treating suppliers as partners. 6. Establish performance measures for the processes. TABLE 1-2 Gain in Productivity with improved Quality Item Before After Improvement Improvement 10% nonconforming 5% Nonconforming Relative total cost for 20 units 1.00 1.00 Conforming units 18 19 Relative cost for nonconforming units 0.10 0.05 Productivity increase (100)(1/18)=5.6% Capability increase (100)(1/18)=5.6% Profit increase (100)(1/18)=5.6% Adapted from W. Edwards Deming, Quality, Productivity and Competitive Position (Cambridge, Mass.: Massachusets Institure of Technology, Center for Advanced Engineering Studies, 1982). Image Source: www.freepik.com Page 9 Module 5 | Emerging Trends in Management

2.1.2 Defining Quality When we hear the word “quality,” we usually think of a fantastic product or service that meets or surpasses our expectations. These expectations are based on the intended use as well as the sale price. Because they are of different grades, a customer expects a plain steel washer to operate differently than a chrome-plated steel washer. We evaluate a product’s quality when it exceeds our expectations. As a result, it’s an intangible depending on perception. Quality can be measured in the following ways: Q=P/E where Q = quality P = performance E = expectations Module 5 | Emerging Trends in Management Page 10

TABLE 1-3 The Dimensions of Quality Dimension Meaning and Example Performance Primary product characteristics, such as the brightness of the picture Features Secondary characteristics, added features, such as remote control Conformance Meeting specifications or industry standards, wormanship Reliability Consistency of performance over time, avergae time for the unit to fail Durablity Useful life, includes repair Service Resolution of problems and complaints, ease of repair Response Human-to-human interface, such as the courtesy of the dealer Aesthetics Sensory characteristics, such as exterior finish Reputation Past perforamance and other intangible, such as being ranked first Adapted from David A. Garvin, Managing Quality: The Strategic and Competitive Edge (New York: Free Press, 1988) When Q is more than 1.0, the customer is satisfied with the goods or service. Of course, P and E will almost certainly be determined by perception, with the company deciding performance and the customer determining expectations. ISO 9000: 2000 provides a more precise definition of quality. It’s the degree to which a collection of intrinsic traits meets a set of requirements. Quality can be used with adjectives like bad, good, and excellent to varying degrees. Existing in something, especially as a permanent trait, is defined as inherent. Quantitative and qualitative characteristics are both possible. A requirement is a declared or implicit need or expectation that is either required or implied by the business, its consumers, and other interested parties. There are nine different dimensions of quality. In terms of a slide projector, Table 1-3 depicts these nine quality dimensions, together with their meanings and explanations. Because these dimensions are semi-independent, Image Source: www.freepik.com a product can be exceptional in one and ordinary or terrible in the other. Only a few items, if any, excel in all nine dimensions. In the 1970s, for example, the Japanese were credited with producing high- quality automobiles only on the basis of their dependability, conformity, and beauty. As a result, a few of the quality dimensions can be used to determine the quality of a product. Module 5 | Emerging Trends in Management Page 11

Marketing is in charge of determining the relative value of each quality component. The requirements for the development of a new product or the improvement of an existing one are then translated from these dimensions. 2.1.4 Obstacles A lot of businesses, particularly small ones with a niche, are content with their current situation. They’re happy with the amount of labour they’re doing, the income they’re making, and the notion that their clients are happy. TQM will be of little use to organisations with this culture until they begin to lose market share. There will be roadblocks in the way of a company’s successful deployment of TQM. After an exhaustive literature search, Robert J. Masters calculated the first eight most common obstacles, with the authors adding the final barrier. Below is a list of them. a. Lack of Management Commitment Any organisational initiative that is to succeed must have a significant management commitment in terms of both time and resources. The goal must be presented to all employees in a clear and consistent manner. TQM concepts must be constantly applied by management. Only the CEO, according to Motorola’s Robert Galvin, can assure that quality and customer satisfaction are maintained even under extreme pressure. Sixty-six percent of 188 quality professionals said management compensation is unrelated to quality goals including failure costs, customer complaints, and cycle time reduction. b. Inability to Change Organisational Culture Changing the culture of an Image Source: www.freepik.com organisation is complex and might take up to five years. Individuals resist change because they have grown accustomed to a certain manner of doing things, and it has become their preferred method. The fundamental concepts of change must be understood and applied by management. They are as follows: Module 5 | Emerging Trends in Management Page 12

Marketing is in charge of determining the relative value of each quality component. The requirements for the development of a new product or the improvement of an existing one are then translated from these dimensions. 2.1.4 Obstacles A lot of businesses, particularly small ones with a niche, are content with their current situation. They’re happy with the amount of labour they’re doing, the income they’re making, and the notion that their clients are happy. TQM will be of little use to organisations with this culture until they begin to lose market share. There will be roadblocks in the way of a company’s successful deployment of TQM. After an exhaustive literature search, Robert J. Masters calculated the first eight most common obstacles, with the authors adding the final barrier. Below is a list of them. a. Lack of Management Commitment Any organisational initiative that is to succeed must have a significant management commitment in terms of both time and resources. The goal must be presented to all employees in a clear and consistent manner. TQM concepts must be constantly applied by management. Only the CEO, according to Motorola’s Robert Galvin, can assure that quality and customer satisfaction are maintained even under extreme pressure. Sixty-six percent of 188 quality professionals said management compensation is unrelated to quality goals including failure costs, customer complaints, and cycle time reduction. b. Inability to Change Organisational Culture Changing the culture of an Image Source: www.freepik.com organisation is complex and might take up to five years. Individuals resist change because they have grown accustomed to a certain manner of doing things, and it has become their preferred method. The fundamental concepts of change must be understood and applied by management. They are as follows: Module 5 | Emerging Trends in Management Page 13

1. People change when they want to and to meet their own needs. 2. Never expect anyone to engage in behavior that serves the organisation’s values unless adequate reason (why) has been given. 3. For change to be accepted, people must be moved from a state of fear to trust. Individuals find it difficult to change their habits; a company finds it even more difficult to change its culture. Exhortation and inspiration will not work as a management strategy. Speeches, slogans, and campaigns ostensibly intended to encourage people are only successful for a limited time. Lack of effective communication and a focus on short-term success are both barriers to cultural change. Spending more time planning for the cultural components of adopting a TQM programme will boost an organisation’s chances of success. c. Improper Planning The formulation of the implementation plan, as well as any changes that occur as the plan grows, must involve all members of the organisation. The two-way communication of ideas by all workers during the formulation and implementation of the strategy is especially important. Customer happiness should take precedence over financial or sales targets. A metal stamping company near Chicago, Peterson Products, improved on-time delivery, resulting in a 25% increase in sales. Concentrate on quality, and the other objectives will fall into place. d. Lack of Continuous Training and Education Everyone in the organisation goes through training and education on a regular basis. Needs must be identified, and a strategy must be devised to meet those needs. When senior management conducts training and instruction on TQM concepts, the results are the most successful. Informal training occurs when the TQM effort is communicated to all employees on a regular basis. Lack of training in group discussion and communication strategies, quality improvement skills, problem identification, and problem-solving method, according to Tamimi and Sebastianelli’s study, was the second most significant barrier. Module 5 | Emerging Trends in Management Page 14

e. Incompatible Organisational Structure and Isolated Individuals and Departments Implementation issues might arise as a result of differences between departments and individuals. Long-standing barriers will be broken down with the usage of multi-functional teams. It may be necessary to restructure the company to make it more responsive to client needs. Individuals who refuse to accept the new mindset may be forced to leave the company. Following the six basic concepts will help to reduce difficulties over time. Product support teams comprised of three individuals from design, quality, and production are allocated to each client segment at Spartan Light Metal Products, Inc. in Sparta, IL. f. Ineffective Measurement Techniques and Lack of Access to Data and Results To make effective judgments, key features of the organisation should be measured. You must measure the impact of improvement ideas in order to improve a process. Effective procedures necessitate data access and retrieval in a timely manner. Extra inspection, training, and management encouragement did not assist a high error rate, according to Peoples Bank of Bridgeport, CT. Finally, the bank looked into the problem’s core causes and addressed them, thus eliminating the issue. g. Paying Inadequate Attention to Internal and External Customers Customers’ demands and expectations are evolving, and businesses must adapt to meet them. This understanding requires effective feedback mechanisms that give facts for decision-making. Giving the relevant personnel immediate access to clients is one method to overcome this barrier. Maruti Suzuki, India’s largest automobile manufacturer, invests much in training its service technicians and dealer sales employees in order to guarantee that their actions and interactions are in sync with changing customer profiles and expectations. Individuals and teams cannot be held accountable for results if a company fails to empower them. h. Inadequate Use of Empowerment and Teamwork Teams must have the necessary training and, at the very least, a facilitator. The team’s recommendations should be followed wherever possible. Individuals should have the authority to make decisions that affect the efficiency of their processes or customer Module 5 | Emerging Trends in Management Page 15

satisfaction. Solar Turbines, Inc. restructured its organisation into work teams and delegated authority to the point of client contact or the task done. 2.2 Benefits of TQM TQM benefits include better quality, employee engagement, teamwork, working relationships, customer satisfaction, employee happiness, productivity, communication, profitability, and market share, according to a survey of manufacturing companies in Georgia. According to Hendricks and Singhai’s ten-year analysis, TQM is a smart investment. They discovered that TQM and financial performance are inextricably linked. The researchers chose 600 publicly traded companies that had earned accolades for implementing TQM efficiently. They then chose a control group that was identical to the award winners in terms of size and industry. Both groups’ performance was compared in the five years leading up to the award and in the five years after the award. Prior to the award, there was no discernible difference between the two groups. During the five years after the award, however, the award group considerably outperformed the control group, as seen below. Description Control Award 91% Growth in Operating 43% Income 69% Increase in Sales 32% 79% Increase in Total 37% Assets The stock price performance of the award winners was 114 percent, whereas the S&P was 80 percent, according to the study. Furthermore, the survey revealed that small businesses outperformed larger businesses. According to recent surveys, only approximately 30% of manufacturing companies have successfully implemented TQM. 2.3 TQM Exemplary Organisation Motorola, headquarters in Schaumburg, Illinois, employs 99,000 people in 53 major locations throughout the world. It is an integrated corporation that manufactures a wide range of electronic devices and distributes them mostly through direct sales and service activities. Two-way radios and pagers, wireless telephones, semiconductors, and equipment for Module 5 | Emerging Trends in Management Page 16

defence and aerospace applications, data communications, information processing, and automotive and industrial applications are among the company’s products. Motorola began an ambitious ten-fold enhancement in the quality of its goods and services in 1981. They were successful, and several of the company’s goods are now among the best in their class. “Zero defects in whatever we do,” the company’s quality aim is expressed simply. Motorola’s executives carry a printed card in their pockets that states the company’s goal of “100% customer happiness.” Corporate leaders and business managers carry pagers to make themselves available to customers, and they visit their places of business on a regular basis to learn about their preferences for Motorola products and services. The data, combined with information obtained from a vast network of customer surveys, complaint hotlines, field audits, and other consumer feedback measures, informs quality improvement and product development strategy. Nippon Telegraph and Telephone receives a large portion of the market for pagers. Six-sigma quality and lowering total cycle time are two key efforts. Six sigma is a statistical measure that encompasses customer service and equates to a target of no more than 3.4 defects per million items. Motorola’s cycle-time reduction goal is even loftier: the clock starts ticking as soon as the product is conceptualised. This necessitates a comprehensive review of the entire system, including design, manufacture, marketing, and administration. Employees contribute directly through Motorola’s Participative Management Program (PMP), which is composed of employees who work in the same area or are assigned to achieve a specific aim. PMP teams meet often to assess progress toward meeting quality goals, identify new initiatives, and work on problems. To reward high quality work, savings that stem from team recommendations are shared. PMP bonuses over the past four years have averaged about three percent of Motorola’s payroll. About 40 percent of worker training is devoted to quality matters, ranging from general principles of quality improvement to designing for manufacturability. Motorola’s Participative Management Program (PMP), which is made up of employees who work in the same area or are assigned to achieve a certain goal, allows employees to directly contribute. PMP teams meet on a regular basis to monitor progress toward quality goals, identify new projects, and address issues. Savings from team recommendations are shared to reward high-quality work. PMP incentives have averaged around 3% of Motorola’s payroll over the last four years. Quality issues account for over 40% of worker training, with topics ranging from broad quality improvement principles to designing for manufacturability. TQM is a term that refers to all elements of business. The emphasis on managerial commitment, customer focus, everyone’s involvement, continuous development, treating suppliers as partners, and performance indicators are among the fundamental themes. Module 5 | Emerging Trends in Management Page 17

Many quality gurus, including Shewhart, Deming, Juran, Feigenbaum, Ishikawa, Crosby, and Taguchi, have contributed to TQM’s philosophy. These experts’ beliefs and methods serve as a solid foundation for the TQM framework. When management recognises the need for TQM, the journey begins. Some external circumstances, such as a loss of market share, or internal factors, such as a decrease of productivity, may necessitate the necessity. Quality can be measured in nine distinct ways. The relative importance of these in generating new items and refining existing products should be determined by marketing. There are various barriers to TQM implementation, the most significant of which is a lack of management commitment. TQM can lead to improvements in quality, productivity, reliability, market share, revenue, profits, and growth if it is used consistently. According to a survey, companies that received excellence awards beat the S&P index. Despite this, only a small percentage of businesses use TQM. Image Source: www.freepik.com Module 5 | Emerging Trends in Management Page 18

3. TECHNOLOGY MANAGEMENT Previously, a company’s value was mostly determined by its capital and tangible assets, such as land, buildings, equipment, and inventory. Today, a company’s real value is far more than the value of its physical assets or revenue. Technology adds value to a company’s assets. Through its dominant impact over industrial productivity, technology’s role in encouraging economic growth and boosting industrial competitiveness has been generally recognised. Technology has also emerged as the most important resource that directly contributes to socioeconomic development. As a result, technology is seen in a variety of ways: as a “engine for economic development,” a “strategic resource,” and a “competitive weapon.” Technological advancement is becoming increasingly vital for all businesses competing in today’s global marketplace. With the rise in client demands, expectations, and demands, as well as the rapid pace of technological change and growth, business owners are becoming more aware of the strategic role of technology in delivering value to their businesses and networks. Adopting new technology, on the other hand, should be in line with the organisation’s vision and strategic goals, and it should aid in the company’s long-term growth and performance. The term ‘technology’ has a broader meaning, referring to a collection of production options, techniques, procedures, and processes by which humans convert resources to satisfy their needs. For example, Ferré (1988) described technology as “practical intelligence implementations.” “A technology is any systematised practical knowledge, based on experiments and/or scientific theory, which is embodied in productive skills, organisation, or apparatus,” writes Gendron (1977). Technology can also refer to the ability to use suitable approaches (Hakkarainen, 2006) or the application of information in the real world (Webster 2010). Technology can also refer to the ability to use suitable approaches (Hakkarainen, 2006) or the application of information in the real world (Webster 2010). (Steele, 1989) defines technology as “knowledge of how to do things” or “capabilities that an organisation requires to serve its consumers with the goods and services it proposes to deliver, both now and in the future.” “Technology refers to theoretical and practical information, skills, and artefacts that can be used to build products and services, as well as their production and delivery methods,” according to (Burgelman, 2001). (Floyd 1997; Steele 1989; Whipp 1991) define technology as “applied knowledge” that focuses on the organisation’s “know- how.” Technology, such as equipment, human resources, raw materials, and cognitive and physical processes, can be found in a variety of bodies. Module 5 | Emerging Trends in Management Page 19

Management, according to Fredmund Malik, is “the translation of resources into utility.” Management is both an art and, to a degree, a science. It has a knowledge base and guiding principles as a field that provide the means to fulfil an enterprise’s desired goals. It covers a wide range of operations, including planning, organising, staffing, motivating, and controlling the organisation’s activities. Nowadays, technology is used to manage or perform the majority of these duties. The successful use of technology can offer many competitive advantages; so organisations have become more conscious of the value of technology when it is applied in their businesses. In today’s rapidly changing environment with increasing cost, complexity, competition and rate of technological changes, the needs for technology management has become an urgent issue for every company and organisation (Steele, 1989). It also necessitates effective management of technology at both national and firm levels. As a result, Technology Management has now occupied the centre stage of decision-making. Technology management is a combination of disciplines that enables enterprises or nations to plan and enhance their technical capabilities in order to gain a competitive edge. Technology management brings together engineering, scientific, and management disciplines to plan, develop, and apply technical capabilities in order to shape and achieve an organisation’s strategic and operational goals. It enables businesses to manage their technical foundations in order to gain a competitive edge by tackling a number of interconnected concerns, such as: • technology policy; • technological forecasting and assessment; • technology strategy; • technology transfer; • technology project management; • technology research and development In literature, various definitions of Technology Management (TM) have been produced. Some of them are reported here: • NRC/National Research Council (1987) describes TM as “a process, which includes planning, directing, control and coordination of the development and implementation of technological capabilities to shape and accomplish the strategic and operational objectives of an organisation.” Module 5 | Emerging Trends in Management Page 20

• The U.S National Research council report (1987) on management of technology defined it as “an interdisciplinary field concerned with the planning, development and implementation of technological capabilities to shape and accomplish the operational and strategic objectives of an organisation”. • TheAssociationofTechnology,ManagementandAppliedEngineeringdefines“Technology management as the field of study that impacts skills and knowledge, designed to improve the entire process of technological change and from systems planning and design, to introduction, to evaluation of effectiveness”. Managing technology, according to Gaynor (1989), is a technique of operation that optimises the relationships between the business enterprise’s technological activities in order to leverage human resources, technology, and other company assets. It is the process of combining science, engineering, and management with research, development, and manufacturing in order to achieve the business unit’s operational goals effectively, efficiently, and cost-effectively. It entails overseeing the entire technology activity, from conception to commercialization. Tschirky has recognised three tiers of managerial tasks in this regard: 1. Normative level: This level is concerned with the company’s important decisions, which clearly indicate the company’s culture and policies. 2. Strategic level: the company’s policy is based on a comprehensive technological plan with a prevailing principle of effectiveness. 3. Operational level: this transforms a company’s strategies into action in the short term, focusing on efficiency. To sum up, technology encompasses all of the knowledge, products, processes, tools, methods, and systems used in the creation of goods or the provision of services. Technology is frequently thought of in terms of hardware, such as machinery, computers, or high- tech electronic devices. Technology, on the other hand, encompasses far more than just equipment. It is made up of three parts that are all interconnected and equally vital. 1. Hardware: The physical configuration and logical design of the tangible equipment or machinery that will be used to complete the assignment. 2. Software: Intangible knowledge that is used to operate hardware in order to do the essential tasks. Module 5 | Emerging Trends in Management Page 21

3. Brain ware: Using causality to analyse the technology’s functionality. 4. Know-how: The ability to effectively execute things or tasks as a result of experience or technology transfer. 3.1 Classification of Technology New technology: A recently introduced technology that has the potential to influence an organisation’s goods. Emerging Technology: Emerging Technology is a term used to describe a technology that has not yet been completely commercialised but has the potential to do so in the next five years. It frequently spends a lot of money on research. Low technology: Low-tech technologies are those that have pervaded huge swaths of human culture. Low-tech solutions are used by a wide range of industries that have the following traits: • They employ people with relatively low levels of education or skill. • They use manual or semiautomatic operations. • They have low levels of research expenditure. • The technology base is stable with little change. • The products produced are mostly of the type that satisfies basic human needs such as food, shelter, clothing and basic human services. Medium Technology: The term “medium technology” refers to a wide range of technologies that fall somewhere between high and low. Appropriate Technology: The word “suitable technology” refers to a good match between the technology being used and the resources required to make it work properly. Tacit Technology: Non-articulated knowledge Image Source: www.freepik.com is referred to as tacit technology. The way it is presented or articulated to a big number of people is inconsistent. It is frequently based on personal experience, therefore it is retained in the brains of developers. The people who have the know-how in question are the technological developers. Module 5 | Emerging Trends in Management Page 22

Codified Technology: Codified technology, on the other hand, enables people to understand how technology functions but not why it does so. The brain ware could be part of the developers’ tacit knowledge, shaped by their experiences during the development process. 3.2 Roles Relative to Technology 3.3 Technological Change “The process by which economies change through time in terms of the products and services they produce and the procedures employed to produce them,” according to a broad definition of technological change. “Alteration in physical processes, materials, machinery, or equipment, which has an impact on the way work is conducted or on the efficiency or effectiveness of the enterprise,” according to the definition. Technological change can affect output, raw materials, work organisation, and management approaches, but it always has an impact on the relationship between labour, capital, and other production elements. While strategies to promote technological development and productivity growth - at both the national and corporate levels - must be established in a wide socio-economic context, the internal dynamics of technological change should be the focus. It has been proposed that understanding of technological transformation in developing countries would be a valuable contribution to comprehending the phenomenon in rich ones. Module 5 | Emerging Trends in Management Page 23

3.3.1 Measurement of Technological Change The measurement of technological change is influenced by a number of things. The following are two of the most crucial factors: 1. Economic Indices: Arithmetic indices are calculated using changes in the price of capital and labour in proportion to industrial production. The weighted average of the change in factor prices, with inputs held constant, is used to calculate technological change. Solow created a geometric index based on the assumption that technological advancement equals the change in output not accounted for by labour and capital changes. 2. Patents: Patent statistics have been used to track technical advancements. They’ve also been used to look at how technology spreads across companies, industries, and countries. Patent studies also include an examination of the innovation process itself in order to examine and evaluate the results of research. Rate of Improvement of Technology For each functional capacity of a technology, a figure of merit must be determined. It could be travel speed per unit time (transport vehicles), lumens per watt (lighting fixtures), or instruction execution rate per second (instruction execution rate per second) for a product (computers). It could be the efficiency of fuel utilisation or the reduction of waste generation for a process. S-shaped growth curves are used to create a set of curves that depicts technological progress. Rate of Substitution of Technology It is calculated based on changes in the relative market shares of two technologies or two sets of technologies. S-shaped growth is seen in the cumulative pattern of a technology’s market share increase. Rate of Diffusion of Technology It is the total number of people who have adopted a new product, material, or technique. This has an S-shaped curvature to it. Image Source: www.freepik.com Module 5 | Emerging Trends in Management Page 24

3.4 Technological change theories Various hypotheses about technological change have been proposed in the literature. The following paragraphs summarise some of them. 3.4.1 Neo-Classical Theory The concept of a production function, which establishes a quantitative relationship between inputs and outputs, is the most basic instrument for studying technological progress. Capital and labour, sometimes known as factors of production, are the most prevalent inputs. The production function can be represented as a sequence of isoquants, which are curves that correspond to the constant output that can be obtained by combining an unlimited number of sources of production. There is a certain amount of technology at any given moment that dictates the production techniques available. According to this hypothesis, technological change occurs as a result of adjustments in the production function closer to the source. Some of the major limitations of neo-classical theory are: • As factors of production, only labour and capital are included. The addition of extra elements, on the other hand, complicates the analytical application of the production function. • It’s impractical to expect endless techniques at any given technological level. In real life, there are frequently only a few options to choose from. • The production function can only describe cost-cutting enhancements. This approach does not account for improvements in performance or the development of new services. • While it is a useful tool for analysing economic equilibrium, it struggles when dealing with dynamic challenges. 3.4.2 Marxist Theory Technology, according to Karl Marx, is a process guided by intentional, conscious, active individuals and shaped by historical events, rather than being self-generating. He believed that technological progress, or the development of productive forces, was the driving force behind history. Individual entrepreneurs invest and create for a variety of reasons, including profit maximisation or survival. Marx seems to be enslaved by the belief that all inventions must be labor-saving. Module 5 | Emerging Trends in Management Page 25

Major limitations of the Marxist theory are: • Undermining of capital-saving innovations. • Underemphasizing the concept of productivity. • Controversy involved in the theory of the falling rate of profit. 3.4.3 Schumpeter’s Theory This theory sees innovation as both a source of economic growth and a source of disequilibrium. Innovation is described as the implementation of new combinations of manufacturing methods, which can involve a wide range of scenarios such as: This theory see innovation as both a source of economic growth and a source of disequilibrium. Innovation is described as the implementation of new combinations of manufacturing methods, which can involve a wide range of scenarios such as: • The introduction of a new good or of a new quality of a good, or of a new method of production, • The opening of a new market, • The conquest of a new source of supply of raw materials, • The carrying out of a new organisation of any industry. The emphasis is on the idea that technical development should be viewed as a form of innovation in general, rather than just another example of normal economic action. In contrast to neoclassical theory, Schumpeter’s version of the production function eliminated capital and included only labour and land as inputs. Major limitations of this theory are: • Psychology of the entrepreneur (the embodied aspect of innovation) is an elusive phenomenon. • No explicit attention is paid to the process by which innovation is generated. • Lack of empirical evidence. Module 5 | Emerging Trends in Management Page 26

3.4.4 Evolutionary Theory This shows that technology change may be explained using a biological parallel. To comprehend the evolution of technology, the Darwinian two-state process of mutation (invention) and selection (innovation) has been used. From a state of flux, when product innovation reigns supreme in the search for a successful design, to a maturity phase, where incremental process innovation reigns supreme, biological evolution appears to have a certain correspondence with the interpretation of technological changes in industrial sectors - from a state of flux, when product innovation reigns supreme in the search for a successful design, to a maturity phase, where incremental process innovation reigns supreme. Major limitations of the evolutionary theory are: • Dearth of quantitative models. • Many propositions need to be validated. 3.4.5 Market-Pull Theory The process of invention is governed by markets. The market serves as a conduit via which political, economic, social, and environmental forces impact purchasers’ demand for technology goods. Changes in these forces have an impact on the technology response in terms of kind, capabilities, performance, safeguards, solutions, and so on. These messages are sent and communicated through the market, where buyer needs (which are impacted by external influences) are matched with technological advancements, and future desires can be predicted by technology producers. Major limitations of this theory are: • The logical and practical difficulties in interpreting the innovation process. • Difficulties of defining demand functions as determined by utility functions. • The incapability of defining the ‘why’, ‘when’ and ‘where’ of certain technological developments instead of others. 3.4.6 Technology-Push Theory Technology is a self-contained or semi-autonomous component. It takes a one-way causal determination approach, going from science through technology to economics. It is proposed that technological advances emerge exogenously as a result of discoveries, theories, ideas, Module 5 | Emerging Trends in Management Page 27

and R&D activity, which may or may not create (or be matched with latent) demand for their output. Major limitations of this theory are: • Failure to take into account the intuitive importance of economic factor in shaping the direction of technological change. • Lack of understanding of the complex structure of feedbacks between the economic environment and the directions of technological change. 3.5 Types of Technology Management TM has evolved into a discipline that is well-organized and structured. Because TM encompasses multiple interconnected concerns ranging from national policy planning to business strategic planning, it necessitates judgments and result-oriented actions at both the macro and micro levels, as well as an effective macro-micro linkage. Technology management at the national level is frequently referred to as macro technology management. It contains the following items: • Planning for the development of technological capabilities at the national level. • Identification of key sectoral technology and related fields to be developed. • Determining ‘make’ or ‘buy’ decisions, i.e., whether importation or self- development is to be pursued. • Establishment of institutional mechanisms for directing and coordinating the development of national technological capabilities. • Design of policy measures for controls. Technology management at the firm or project level is referred to as micro technology management. It contains the following items: • Responding to competitors who are using technology as a strategic weapon. • Integrating technology strategy into the overall corporate strategy. Module 5 | Emerging Trends in Management Page 28

• Identifying and evaluating technological options and innovations and the factors relating to their success and failure. • Directing research and development itself, including determination and definition of project feasibility. • Monitoring and planning technological obsolescence and replacement. Economic efficiency is a goal of both macro and micro-technology management. Micro TM is the foundation for macro TM, which gives guidelines and a setting for the former. Consistency between these two levels of management is critical, but institutional procedures will determine how well they work together. While macro-support may help to accelerate transformation, the main work must be done at the industry level. Every organisation must understand certain activities (such as Innovation, Protection, Identification, Selection, Acquisition, Exploitation, Transfer, Learning including Diffusion & Absorption) and functions (such as Planning and Forecasting, Decision Making, Organizing, and Leading Technical People) in order to maintain technology and keep up with current changes. S–curve, Patent Analysis, Portfolio Management, Roadmapping, and Value Analysis/Value Innovation are some of the techniques developed by the technology management community for effective technology management. Technology Management is made up of these activities, functions, and tools. Technological Innovation It’s usually referred to as a new product development. It is the process of transforming a new concept into tools, methods, or procedures that are useful to society. Tools, methods, goods, and processes all interact in novel ways in technological innovations. Improvements in equipment or techniques of manufacturing or doing invention can also be considered technological innovation (Kline and Rosenberg, 1986). It could be a new manufacturing process; the use of a less expensive, newly developed material for a specific task in an essentially unchanged product; or the reorganisation of production, internal functions, or distribution arrangements, all of which lead to increased efficiency, better product support, or lower costs. Many people think of technological innovation as a sequential process with discrete stages or phases: Module 5 | Emerging Trends in Management Page 29

• Innovation begins with scientific discovery, • Proceeds through development of practical applications of this discovery, and • Finally achieves success as dissemination and implementation at the hands of users. The linear model is oversimplified in this case. In actuality, the innovation process may be non-linear, drawing on basic information repeatedly, responding to newly recognised needs, and revising earlier notions of the instrument, gadget, or technique that eventually emerges. Nonetheless, advancement in innovation necessitates first a grasp of the fundamental principles and processes that allow manipulation of the physical environment, and then the interaction of often complicated social dynamics that allow this understanding to be put to use. In fact, the process of technological innovation is a complex set of activities that transforms ideas and scientific knowledge into physical reality and real world application. There are eight stages in the process of technological innovation. In actuality, technical innovation is a complicated series of operations that translate ideas and scientific knowledge into physical reality and application in the real world. In the process of technical innovation, there are seven stages. 1. Basic research: It’s for the goal of broadening our comprehension of natural rules. It’s a method of accumulating knowledge over a long period of time. It could lead to a specific application or not. 2. Applied research: It is aimed at addressing one or more of society’s issues. Basic and applied research improve science by building on past knowledge in a systematic way. Technology development and deployment are aided by successful applied research. 3. Collaboration: Getting things done requires collaboration. Challenges are becoming more complex in today’s global and digital 24/7 environment; it’s becoming increasingly vital to bring additional, different ideas to the table and to break down silos. Working together isn’t the only thing that a collaborative approach entails. It refers to the ability to collaborate and act on large-scale undertakings. A successful collaboration is mainly based on: Module 5 | Emerging Trends in Management Page 30

• Listen and explore—What can we do together? • Learn and adjust—How will we learn together? • Focus and align—What should we do together? • Link and leverage—What will we do together? 4. Technology development: This is a human activity that involves the transformation of information and ideas into physical hardware, software, or services. Demonstrating the feasibility of an idea, confirming a design concept, or developing and testing a prototype are all examples of this. 5. Technology implementation: A step-by-step procedure or “roadmap” for implementing technology in the target market that specifies how to plan, implement, and sustain the usage of technology. 6. Production: Across all production environments, most manufacturing processes fit into one of five general categories: • Repetitive • Discrete • Job Shop • Process (batch), and • Process (continuous) Most businesses employ a combination of more than one of these environments to get a single product out the door. 7. Marketing/Commercialization: is the process of making a new product or service available to the general public. The commercialization process is separated into phases, starting with the initial introduction of the product and ending with mass manufacturing and adoption. Manufacturing, distribution, marketing, sales, and customer service are all factors that must be considered for commercial success. As a strategy, commercialization necessitates the creation of a marketing plan, establishing how the product will be supplied to the market, and anticipating roadblocks to success. A funnel can be used to describe the commercialization process. At the broadest level, a corporation’s various possibilities for presenting a product are limitless. Module 5 | Emerging Trends in Management Page 31

A potential product must have a degree of public value that could result in overall profitability before it can be commercialised. Commercial firms, government agencies, educational institutions, and other entities active in various sorts of research and development may generate these items. 3.5.1 Innovation Management Although not sufficient, innovation is a crucial condition for a company’s continuous survival and growth. Technological innovation, disruptive innovation, and social innovation are the most direct forms of company innovation. However, management of innovation is crucial in stimulating technological and institutional innovation. Within a firm, the purpose of innovation management is to create an atmosphere that encourages innovation. The appropriate setting would aid the corporations in obtaining more collaboration projects, even serving as a “start-up platform for company endeavours.” The support of senior management is critical for effective innovation; clear guidance, endorsement, and support are all necessary for successful innovation. The ability to adapt to external or internal possibilities and employ creativity to introduce new ideas, processes, or products is enabled through innovation management. It is not limited to R&D; it encompasses employees at all levels contributing creatively to the development, manufacturing, and marketing of a company’s products. It assists a company in seizing an opportunity and effectively developing and introducing new ideas, processes, or products. The foundation of innovation management is creativity; the final goal is a change in services or business processes. As a result, the innovative management process can be thought of as an iterative integration of organisation, technology, and market, involving a sequence of actions such as search, selection, implementation, and capture. Management of innovation is built on two steps: imitation and invention, as well as a collection of tools that enable managers and engineers to collaborate with a shared understanding of procedures and goals. Management can use innovation management tools to activate and use the creative potential of the workforce for the company’s long-term growth. Brainstorming, virtual prototyping, product lifecycle management, ideation, TRIZ, Phase–gate model, project management, product line planning, and portfolio management are some of the most commonly used technologies. Through development, innovation processes can either be pushed or pulled. A pushed process is based on technology that the organisation already owns or has just invented. The goal is to identify commercial uses for technology that currently exists. In contrast, a pulled Module 5 | Emerging Trends in Management Page 32

process is built on identifying areas where consumers’ demands aren’t being addressed and developing solutions to those needs. To succeed with any strategy, you must have a thorough awareness of both the market and the technological issues. Both dimensions can be tackled by forming multi-functional development teams that include engineers and marketers. Technology Management Framework Definitions, concepts, actions, phases, and methods for management Researchers have created a set of concepts, stage procedures, activities, and management definitions aimed at building and articulating a technology management framework known as the TM methodology. Various Technology Management models, frameworks, definitions, concepts, assumptions, and proposals have been articulated in order to study the methodologies and techniques of technology management; define and investigate the meaning of technology management; and clarify its functions. Gregory (1995) defined technology management as a five-step process that includes identifying, selecting, acquiring, developing, exploitation, and protecting technologies (product, process, and infrastructure) that are required to maintain the company’s performance and market position while adhering to the company’s objectives. Module 5 | Emerging Trends in Management Page 33

1. Identification: The identification of technologies, which are critical to the company’s strategic operations, is seen as the backbone of the management process. Scanning and monitoring, technology forecasting, customer orientation, technological intelligence, data collection, and benchmarking are examples of such identification methods. Such work will demonstrate how a company identifies the technologies it employs, how it forecasts the success of new technology, how it performs scanning and monitoring for new technologies, how it identifies customer needs and requirements, and what the major factors are that influence the identification process. 2. Selection: The technologies that have been chosen to help businesses and organisations. Scenario analysis, portfolio analysis, expert judgement, decision criteria, and financial analysis are examples of such methods. Technology selection is critical for the company because it necessitates making precise selections about the appropriate technologies. This is especially true when decisions involving long-term investments are made. In addition, when choosing technology, the company must consider quantitative, qualitative, intangible, and tangible parameters. This procedure is required so that the company’s selection process follows a systematic manner. 3. Acquisition: Obtaining technologies that have been chosen. Internal R&D, Joint Ventures, Organisational Change, Project Management, Licensing, corporate mergers and acquisitions, technology transfer, and technology insertion are examples of processes. 4. Protection: Knowledge and competence are protected. Patenting, contracts, risk assessment, copyrights, personnel retention, and security management are examples of processes. 5. Exploitation of technologies: Process improvement, licencing, new product creation, and supply chain management are all examples of processes. Technology Management Capabilities The below listed are the questions that an organisation has to be asked for technology management capabilities. Module 5 | Emerging Trends in Management Image Source: www.freepik.com Page 34

1 Have the capacity and ability to perform technology Identification 2 Have the capacity and ability to perform Selection 3 Have the capacity and ability to perform Acquisition 4 Have the capacity and ability to perform Exploitation 5 Have capacity and ability to perform Protection 6 Have the capacity and ability to Learn about new technologies 7 Have the capacity and ability to perform Strategic Management 8 Have the capacity and ability to perform Innovation Management 9 Have the capacity and ability to perform Project Management 10 Have the capacity and ability to perform Knowledge Management 11 Have the capacity and ability to perform Technology Management 3.5.2 Talent and Knowledge Management Capabilities and intangible resources are being prioritised as competitive tools, and knowledge is now seen as the most strategic organisational asset. On the other hand, knowledge can be the least well-managed company asset. Much of the knowledge that serves as a source of advantage is tacit in nature, making it difficult to describe and transmit. This is due to its very personal nature and responsiveness to people’s actions and experiences. The process of continuously identifying, developing, deploying, and retaining those individuals in an organisation who are particularly valuable either because they have great potential for the company’s future or because they are capable of resolving critical business and operational issues is referred to as talent management. The knowledge management system includes all of the interacting and interdependent aspects that contribute to the company’s success and pertain to monitoring and controlling knowledge (including procedures, databases, supporting software, organisational structures, and so on). We’ll look at the new field of talent management (TM) and how TM practises can help with knowledge management in this article (KM). Although both the TM and KM fields have a growing body of literature, only HR researchers have begun to write about merging the two concepts. In general, HR literature explains how knowledge management (KM) can assist with TM. In this essay, we take a different approach to the problem: how may TM concepts aid knowledge management? Module 5 | Emerging Trends in Management Page 35

Knowledge Management In response to the increasing strategic significance of a company’s knowledge assets, the field of knowledge management (KM) was developed in the mid-1980s. KM has been used to promote change in a variety of disciplines, including IT, strategic management, and human resources, according to its history. Once upon a time, knowledge management was connected with information technology. While it was widely agreed that knowledge management had something new to offer, it appeared to be in danger of being hijacked by the IT community and used to market new IT solutions. Companies interested in knowledge management in the 1980s were advised to implement IT-centric solutions, which characteristically involved investing in systems like Lotus Notes to capture, codify, and store every imaginable type of knowledge, like best practises, competitive intelligence, customer observations, learnings from previous projects, and so on. While the knowledge management sector has come to recognise the importance of informal and community-based initiatives, the IT community’s influence continues to be considerable. Organisations are now being offered online applications such as blogs, wikis, and user tagging systems as solutions to facilitate knowledge work in previously inconceivable ways. The field of strategic management has also taken a knowledge perspective in order to enhance theories of how competitive advantage is achieved. Image Source: www.freepik.com Page 36 Module 5 | Emerging Trends in Management

Scholars have criticised equilibrium-based paradigms like Porter’s Five Forces and the resource-based approach for failing to explain long-term competitive advantage in dynamic industries. The firm’s knowledge-based viewpoint began to emerge. In the field of strategic management, this is an important corpus of work. There is evidence that the methods and practises associated with KM are being used for change projects in the field of human resource management (HRM). One of the main challenges faced by HRM specialists is the successful transfer of information among individuals, teams, departments, and divisions. HRM practitioners have embraced the people-centric strategies advocated by KM to improve employee performance. In recent years, HR experts and practitioners have paid a lot of attention to the notion of TM. Image Source: www.freepik.com Talent Management Although the scope and definition of TM varies between research, it incorporates the HR/ OD activities of identifying, developing, and keeping high potential persons for future leader- manager positions in the organisation. “Employee retention has emerged as one of the major foci in recent years in HRM studies, particularly as a part of talent management programmes,” according to Abduljlil AL Damoe, Yazam, and Ahmid (2012). TM goes beyond preservation and integrates more elements of the talent management process, such as Module 5 | Emerging Trends in Management Page 37

training, career planning, HR development, succession planning, performance management, and qualified workforce supply/demand match. 3.5.3 Talent Management and Employee Development Talent management includes the identification and development of all types of talent, particularly high-potential talent for future assignments, roles, or projects. An integrated talent management approach includes workforce planning, talent acquisition, professional development, performance management, retention techniques, and succession planning. It is important for global organisations since it supports in the development of their workforce. “A global corporation’s major nervous system is the supply chain, and the more firms globalise, the more personnel who can genuinely grasp all areas of the organisation will be necessary.” Organisations can improve their performance by expanding their workforce. According to the Institute for Corporate Productivity (i4cp) in a report titled Critical Human Capital Issues of 2011, the top issues identified by organisations as “most critical” were coping with change, knowledge retention, talent management/coaching, leadership development, performance management, innovation/creativity engagement, succession planning, measuring human capital, and managing a global workforce. “Talent management has become a top focus for businesses all around the world, and as a result, talent management processes are rather sophisticated” (Sharma, D., Borna, S. &Stearns, J. M. 2009). According to Reinecke, N., Spiller, P., and Ungerman, D., a McKinsey global survey of purchasing executives at more than 200 businesses indicated that organisations that implemented “best practises in talent management with purchasing personnel” differentiated from typical companies along three talent dimensions (2007). One of the dimensions was the purchasing units’ capabilities, while the talent dimension looked at how purchasers perceive their roles and the goals they associate with them, and high performers were more likely than other companies to involve purchasing executives more broadly in business planning.” 3.6 Keys of KM and its Contribution to TM Activities Identifying The Knowledge A “justified personal belief” is frequently used to define knowledge. There are numerous taxonomies that define different types of knowledge. The distinction between “tacit” and “explicit” knowledge is the most fundamental. Tacit knowledge exists in people’s brains and is either impossible or difficult to describe, depending on how one interprets Polanyi’s (1966) definition. Most information is initially tacit; it is painstakingly produced over time Module 5 | Emerging Trends in Management Page 38

via trial and error, and it is underutilised because “the organisation does not know what it knows” (O’Dell and Grayson, 1998, p. 154). Some information is ingrained in corporate processes, activities, and relationships that have evolved through time as a result of a series of incremental advances. The planning, organising, motivating, and controlling of people, processes, and systems in an organisation to ensure that its knowledge-related assets are improved and successfully used is known as knowledge management. Employees’ knowledge about the best way to do their jobs, knowledge held by teams that have been working on specific problems, and knowledge embedded in the organization’s products, processes, and relationships are all examples of knowledge-related assets. Knowledge acquisition, creation, refinement, storage, transfer, sharing, and utilisation are all KM processes. The organization’s knowledge management function manages these activities, creates procedures and tools to support them, and encourages individuals to participate. The goals of knowledge management are to better knowledge practises, improved organisational behaviours, better decisions, and improved organisational performance through utilising and improving the organization’s knowledge assets. Although individuals can perform each of the KM processes on their own, KM is primarily an organisational activity that focuses on what managers can do to help KM achieve its goals, how they can motivate individuals to participate in achieving them, and how they can create social processes to help KM succeed. Knowledge management systems (KMS) are computer-based communications and information systems (CIS) programmes that assist various KM processes. They often do not differ technologically from the CIS, but they do involve databases, such as “lessons learned” repositories, and directories and networks, such as those that connect organisational participants with acknowledged experts in a number of subject areas. Many knowledge management systems differ from the organization’s CIS in that the KMS may be less automated and require human interaction to operate. While most information systems require people to make decisions during the design phase and then function automatically, KMS may demand human involvement during the operating phase. People must decide on the content and structure of a sales database when it is developed, but it works automatically once it is operational. People must make all of the same design choices when creating a “lessons learned” knowledge repository, but they must also engage in the operational phase because each knowledge unit submitted for inclusion is unique and must be appraised for relevance and importance. Module 5 | Emerging Trends in Management Page 39

TM activities Some researchers focus on those crucial talent positions that may impact organisational competitive advantage in order to ensure that the most appropriate talent is successfully deployed. By recruiting ahead of the curve, talented employees are discovered to fill such vacancies. The following TM activities aid in the identification of key knowledge talent from both the external and internal markets: • Talent performance management reviews: Performance management aids in the identification of the best-performing knowledge workers and gives feedback on their duties and required performance criteria. Metrics for success aid in quantifying achievement and identifying those who make the most contribution to knowledge efforts. In expressing TM’s performance, value indicators (e.g. revenue per employee) are more essential than activity-based metrics (e.g. number of training hours). A nine-block matrix is used to rank leaders based on their performance and promotion possibilities. This aids in the identification of the organisation’s top achievers as well as the implementation of measures to address developmental needs. When applied to knowledge- intensive workplaces typified by collaborative activities, such talent identification metrics must be customised. As a result, talent programmes that emphasise on individual achievements, such as GE’s nine block matrix, may be inaccurate when used to identify essential people in knowledge-intensive environments. • Talent recruiting: Recruitment has progressed from a time-consuming procedure constrained by the constraints of old communication methods to a complex process affected substantially by web technologies. Online screening and analysis technologies, like as resume analysis systems and online preemployment tests, make it easier to identify critical talent sources among the larger pool of applicants. Creating the Knowledge The dynamic theory of organisational knowledge generation proposed by Monika (1994) posits that knowledge is formed through a constant conversation between explicit and tacit knowledge. Some employees are more creative by nature than others. They must disperse, absorb, and incorporate the tacit knowledge they have gained via experience into Module 5 | Emerging Trends in Management Page 40

organisational processes. Understanding how to enhance and consolidate the efforts of creative knowledge workers is one of the most difficult aspects of managing organisational knowledge. TM activities The organisation must encourage and facilitate the creation of new knowledge by important knowledge workers. Practicing relevant leadership behaviours such as offering vision and support for innovation, as well as building an organisational learning culture, are two strategies for boosting knowledge generation. Such tactics can benefit from the use of TM: • Cultivate knowledge creators: There are numerous hypotheses that seek to explain how organisational innovation occurs. These ideas tend to emphasise that actual innovators make up a small percentage of an organisation’s personnel. Access to resources should be prioritised for knowledge makers. Time is a valuable resource for knowledge providers since it allows them to think deeply and generate ideas. They should also be given the opportunity to write a working paper or network with internal and external specialists to test their ideas. Key knowledge makers could also be accelerated through training programmes on knowledge creation technology. • Cultivate knowledge activists: Knowledge generation is a delicate process that is frequently hampered by formidable obstacles. A catalyst for knowledge generation is required to break through these barriers. Knowledge action serves as a catalyst for change. He or she may not be the primary knowledge creators, but their expertise lies in building the proper enabling environment for others to realise their creative potential. Sharing the Knowledge In the KM literature, the importance of social networks and personalization tactics for knowledge exchange has been thoroughly documented. The function of the tiny number of people who hold key network positions and have disproportionate influence in coordinating knowledge flows, on the other hand, has received significantly less attention. Finding these superstars isn’t the only obstacle; the bigger issue is figuring out what to do with them. This is referred to as “talent positioning” in TM terminology, which means having the appropriate Module 5 | Emerging Trends in Management Page 41

talent in the right place at the right time with the necessary competences and motivation at all levels and locations of the company. In today’s era of open innovation, which emphasises the necessity of internal and external networking in order to utilise new knowledge, a better understanding of these essential persons is especially vital. TM activities Rob Cross and colleagues looked examined the networking behaviours of people who were considered essential talent by their companies in a series of studies. Individuals that hold specific network positions, such as central connector, broker, and peripheral expert, have a significant impact on ensuring that workgroup objectives are met, according to these research. Many top companies have TM programmes that target and place these people in places where they can make the biggest impact. The following TM activities help to position and share knowledge effectively: • Mobility opportunities: Internal mobility opportunities, such as horizontal personnel transfers to other organisational divisions, can help to break down barriers and promote collaboration and information sharing. Externally, expatriates have a boundary-spanning function in the formation of social capital; they can pass valuable knowledge from the parent firm to the repatriating organisation while also importing knowledge that can be used by the repatriating organisation. Employees benefit from job rotation because it allows them to expand their network of connections and facilitates the transmission of company culture. Talent managers may help with KM by determining the best time for employee moves so that they can take advantage of group cohesion, social links, and a wide range of experiences. • Network mentoring: Smart firms will designate a mentor to high-potential knowledge employees in order to connect them to other critical knowledge holders. This will allow high-potentials to expand their network and draw on the experience of others over time. Mentoring is especially crucial for budding stars who are considered to be “peripheral experts.” According to Whelan et al. (2010)’s research of R&D engineers, these knowledge workers provide value to the business by scouting for and introducing new technologies into the internal social network. Peripheral experts performed best when they were mentored by a colleague with a large internal network who disseminated outside acquired knowledge on the peripheral expert’s behalf. Module 5 | Emerging Trends in Management Page 42

Developing the knowledge Employee competences, or the underlying knowledge, skills, talents, and other traits required to fulfil an organisational function, are linked to organisational performance. Competencies have three characteristics in common: 1. resources in terms of theoretical knowledge, procedural knowledge, know-how, and know whom, 2. the context in which the competency is located, and 3. the aim, mission, or task to be accomplished. Collaboration, management, strategic planning, information skills, and relationship management are all examples of KM related competencies. Because these are primarily soft abilities, they must be cultivated over a longer period of time. The friction between personal ambitions and organisational limits is the organisation’s main problem in competency development. Knowledge workers learn in an informal, self-directed manner, but this learning must be linked with organisational needs. The method for achieving this alignment is still up for dispute. There is a gap between competency definitions and job performance in existing competency development methodologies, which may result in ambiguous assessment findings that are unrelated to the work context. Furthermore, the time it takes to identify and fill capability gaps through learning is still too long. TM activities TM initiatives aim to align the abilities of high potentials and star performers with the firm’s strategic goals. This assists a company in identifying and responding to new competitive scenarios. Through essential skills gap analysis, information about previous work emphasises an individual’s available competencies and identifies places for future development. The following TM activities can help key knowledge employees build their skills: • Competency‐based training: Training solutions should be adaptable to changing market situations and linked with competency standards. High-quality training programmes aid in the evaluation of employee skills, the identification of required competencies, the development of skills, knowledge, and attitudes, and the improvement of performance. Employees are active participants in effective competency-based training, which stresses problem-solving and demonstrated performance approaches during on-the-job training. These training options might range from one-off workshops to large-scale initiatives aiming at long-term cultural transformation. Module 5 | Emerging Trends in Management Page 43

Capuano et al. (2008), for example, propose a technology-enhanced learning method that integrates employee learning and business processes by maximising knowledge workers’ learning in relation to business processes and optimising business processes to take advantage of available competences. • Succession planning: Preparing for the business’s next senior team, building a talent pool for internal recruitment through cross-skilling personnel, and/or ensuring the organisation is future-proofed in terms of skills availability are all examples of this. In the context of knowledge management, succession planning entails determining how the organisation intends to replace important knowledge holders and ensuring that high-potential successors are ready to fill key jobs. Succession planning, which includes continuously recruiting, training, and promoting people, is critical not just for preventing a brain drain of company knowledge, but also for identifying required talents and communicating skills. TM must continue to groom top performers for future new jobs, identify knowledge gaps, and undertake programmes to improve their skills and secure their retention. Retaining the Knowledge Employee turnover, whether due to competition headhunting, redundancies, or retirements, puts an organisation at risk. Until that knowledge is relearned, it can drastically limit operational effectiveness and efficiency. Employees who depart carry with them more than just what they know; they also bring vital information about who they know. In knowledge- intensive environments, this relational capital is critical for getting work done. Furthermore, some employees’ departures make a bigger noise than others. These employees frequently have unique or difficult-to-replicate skills, making them crucial to the company’s success. Knowledge loss prevention strategies have been a significant organisational concern in recent years, owing to the economic downturn and the resultant workforce reductions, as well as demography, which predicts that 60% of experienced US managers will retire by 2012. As a result, it’s critical to keep those essential knowledge holders who have strategic value. However, essential knowledge holders are challenging to maintain for a variety of reasons. To begin with, there is a shift in the psychological contract between employees and employers, with Generation Y workers exhibiting weaker loyalty and moving firms more frequently. Workers are now more inclined to prefer self-directed, “boundary-less” employment. Module 5 | Emerging Trends in Management Page 44

TM activities In the TM literature, there has been a lot written about the factors that influence talent retention. Employee contentment and pride in the organisation, as well as the sense of it being socially responsible, were found to be major predictors of employee intention to leave. The following TM activities are important in preventing knowledge loss: • Reward and recognition programs: Failure to recognise and reward critical knowledge holders leads to not just their eventual departure from the company, but also to absenteeism, disengagement, and low productivity. Planning effective programmes that combine both monetary and nonmonetary incentives necessitates knowledge of the organisation’s acquired knowledge base as well as an awareness of what motivates talent to come to work, be productive, and develop expertise. Traditional compensation packages, executive compensation, flexible remuneration, benefits, and informal and formal acknowledgment are among the reward and recognition strategies used by businesses. For other employees, acknowledgment may come in the form of professional development programmes that are tailored to their specific goals. • Knowledge transfer mentoring: Mentoring allows for the direct transfer of crucial tacit work knowledge from an experienced employee to a protégé, as well as the expansion of an individual’s social capital through exposure to the mentor’s social network. It can improve employee motivation and commitment by establishing a relational psychological contract between the employer and the employee. These mechanisms ensure that even if a key knowledge worker quits the company, his or her expertise is passed on to other workers. 3.7 Achieving Competitive Advantage Through Talent Management Organisations strive to accomplish their mission and strategic objectives. This necessitates a full understanding of the resources needed to meet the goals. Financial and non-financial resources are both significant and interdependent in this context. These resources are technically classified into two categories: non-contingent and differentiating capabilities. Non-dependent capabilities enable a business to compete and exist in the marketplace, whereas distinguishing capabilities set an organisation apart from the competition and provide a competitive edge. One of the non-contingent competencies, Module 5 | Emerging Trends in Management Page 45

for example, is effective marketing management. Many HR processes seek to develop non- contingent competencies as well, but they frequently fail to match with the strategy and provide a competitive advantage. Most of these methods result in employees being trained in similar areas and capacities as their competitors, but they do not provide any competitive edge. • For organisations: To develop competitive advantage through HR processes, it is very important to define strategic differentiating capabilities and then develop a process for identifying and developing the same. This empowers the HR people to create an impact on the organisational strategy and also provide a link between talent management and strategy. • For HR: The critical relationship between talent management and organisational strategy must be demonstrated before talent management can be considered strategic. Talent management, in particular, must be positioned as a distinct strategic competence that can provide a significant competitive advantage. According to Snell A. (2007), the formation of distinctive strategic competencies denotes the interaction between business strategy and human resources, according to research undertaken by several agencies. They have been determined to be the key sources of strategic advantage. The research was mostly based on an organisation’s Resource Based View (RBV). This viewpoint has gained traction among HR practitioners as the foundation for resource generation and structure models. Image Source: www.freepik.com Page 46 Module 5 | Emerging Trends in Management

4. LEADERSHIP There is no common definition of leadership, and numerous books have been written on the subject. James MacGregor Burns defines a leader as “one who instils purposes rather than one who controls by raw force” in his book Leadership. A leader motivates and motivates his or her followers to achieve common goals. Leaders influence the organisation’s values through shaping them, promoting them, protecting them, and exemplifying them. “Leaders and followers boost each other to higher levels of motivation and morality,” Burns concludes, “... leadership becomes moral in that it raises the degree of human conduct and ethical aspiration of both the leader and the led, and thus has a transformative influence on both.” Similarly, Bob Eaton, the CEO of Daimler Chrysler, defines a leader as “... someone who can take a group of individuals to a place they don’t think they can go.” “Leadership is about us, not about me; mission, not about me; vision, not division; and community, not domicile.” “A great leader is one who is not only good at creating vision, creating the big picture, but also ensures that he goes into the nitty-gritty, into the details of making sure that his vision is actually translated into reality through excellence of execution,” says Narayana Murthy, Chairman and Chief Mentor of Infosys. To put it another way, exceptional leaders not only have tremendous vision, inspiration, and ideas, but they also put those ideas into action via hard work, commitment, and faultless execution. They inspire hundreds of people in the process.” The Ramkrishna Bajaj National Quality Award (RBNQA) criteria are based on the Malcolm Baldrige Award criteria. These are founded on a set of interconnected core ideals and concepts: • visionary leadership Image Source: www.freepik.com • customer-driven excellence • organisational and personal learning • valuing employees and partners • agility • focus on the future • managing for innovation • management by fact • social responsibility Module 5 | Emerging Trends in Management Page 47

• focus on results and creating value • systems perspective These principles and concepts are ingrained in high-performing organisations’ attitudes and behaviours. They serve as the foundation for integrating critical business requirements into a goal-oriented framework. A structure that serves as a foundation for action and feedback. Visionary leadership is defined as follows, as mentioned in its key ideals and concepts: “The organisation’s senior leaders should set directions and create a customer focus, clear and visible values, and high expectations. The directions, values and expectations should balance the needs of all your stakeholders. The leaders should ensure the creation of strategies, systems and methods for achieving performance excellence, stimulating innovation, building knowledge and capabilities and ensuring organisational sustainability. The defined values and strategies should help guide all of your organisation’s activities and decisions.” Senior leaders should stimulate and inspire your entire staff to contribute, grow and learn, be creative, and embrace change. Your organisation’s governing body should hold senior leaders accountable for their actions and performance. The governing body should be ultimately accountable to all stakeholders for the organisation’s ethics, activities, and performance, as well as its senior leaders. Through their ethical behaviour and personal involvement in planning, communicating, coaching the workforce, creating future leaders, analysing organisational performance, and recognising members of your workforce, senior leaders should serve as role models. They may reinforce ethics, beliefs, and expectations throughout your organisation as role models, while also developing leadership, commitment, and initiative.” It’s difficult to define leadership. Successful quality leaders, on the other hand, tend to share certain traits. 4.1 Characteristics of Quality Leaders There are 12 behaviours or characteristics that successful quality leaders demonstrate. 1. They give external and internal customers and their requirements top priority. Leaders put themselves in the shoes of their clients and respond to their requirements accordingly. They are constantly assessing the changing needs of their clients. Module 5 | Emerging Trends in Management Page 48

2. They empower their subordinates rather than controlling them. Leaders have faith and confidence in their subordinates’ abilities. They give resources, training, and a conducive work atmosphere to assist subordinates in doing their duties. Individuals, on the other hand, must decide whether or not to accept responsibility. 3. They prioritise improvement over maintenance. Instead of “If it ain’t broke, don’t fix it,” leaders say, “If it isn’t perfect, enhance it.” Even if the change is minor, there is always space for improvement. Major breakthroughs do occur from time to time, but it’s the small victories that keep the continuous process improvement on track. 4. They place a strong emphasis on prevention. It’s true that “an ounce of prevention is worth a pound of cure.” It’s also true that perfection can be a hindrance to innovation. We don’t always have the luxury of waiting until we’ve perfected a process or a product. A balance must be struck between preventing problems and improving, but not perfecting, procedures. 5. Instead of encouraging competition, they promote teamwork. When functional units, departments, or work groups are competing, they may discover ways to work against each other or hide information in subtle ways. Instead, collaboration between and within units is required. 6. Rather than directing and supervising, they train and coach. Leaders understand the importance of human resource development. As coaches, they assist their subordinates in improving their performance. 7. They learn from their mistakes. When there is a problem, it is viewed as an opportunity rather than something to be minimised or hidden. The questions that quality leaders ask are, “What caused it?” and “How can we prevent it in the future?” 8. They are always looking for ways to improve communication. Leaders distribute information regarding the TQM initiative on a regular basis. They demonstrate that TQM is more than a catchphrase. People will develop ideas when leaders promote and act on them, thus communication is two-way. On the eve of Desert Storm, for example, General Colin Powell asked enlisted men and women for recommendations on how to win the war. The glue that ties a TQM organisation together is communication. 9. They show their dedication to quality on a regular basis. Leaders demonstrate their level of devotion by their actions rather than their words. They made their decisions based on the quality statements. Module 5 | Emerging Trends in Management Page 49

10. They select suppliers based on quality rather than pricing. Suppliers are encouraged to join project teams and take an active role. Quality begins with quality materials, and the actual measure is the life-cycle cost, as leaders understand. 11. They put in place organisational systems to support the attempt to improve quality. A quality council is offered at the senior management level, and work groups and project teams are created at the first-line supervisor level to improve the process. 12. They value teamwork and encourage it. Individuals and teams are encouraged, recognised, and rewarded. People like to sense that their efforts are valued and essential, and leaders understand this. This is one of the most potent tools in the leader’s arsenal. Functions of Leadership Setting goals A leader’s creative duty is to spell out goals and policies that inspire his or her employees to work with enthusiasm and confidence. Organising The leader’s job is to construct and mould the organisation along scientific lines, allocating positions based on individual abilities in order to instil trust in its varied members to work carefully toward the attainment of the company’s goals. Initiating Action A leader is expected to take the lead in all things of importance to the group. I should not rely on others to make decisions or pass judgement on me. He should come up with new ideas and make conclusions based on his creative thinking. Coordination The leader must balance the interests of individual group members with those of the organisation. He must secure the group’s voluntary collaboration in achieving the group’s common goals. Module 5 | Emerging Trends in Management Page 50