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Follet is the pioneer of behavioural approach to management.As per Follet, the critical role of managers should be to bring about constructive changes in organizations, following the principle of ‘power with’ rather than ‘power over’.She opined that power should not be based on hierarchical levels but should be collec­tively developed to foster a cooperative concept that involves superiors and subordinates and enables them to work together as a team. Hence, the emphasis is more on power sharing. Thus we learn that superiors should not just delegate work but they should let the subordinates have equal work as theirs.

Risk happens on account of uncertainty about happening of an event like loss, damage, variations in foreign exchange rates, interest rate variations, etc. Every business manager is always risk averters, i.e., managers usually do not want to take risk. Hence, he likes to work out higher probability for creating wealth and profit. He likes to work as hedger. The variance or changes of the real domestic currency value of assets, liabilities or operating income on account of unanticipated changes in exchange rates referred as Foreign Exchange Risk. This risk relates to the uncertainty attached to the exchange rates between the two currencies. If an Indian businessman borrows some amount viz. dollars and has to repay the loan in dollars only over a period of time, then he is said to be exposed to the foreign exchange rate risk during the currency of loan. Thus, if the dollar becomes stronger (costly) vis-a-vis rupees (cheap) or depreciated during the period then the businessman has to rep...

As a small business owner, it’s important for you to understand how your employees interact and behave within your organization. Behavioral organizational theories can help you develop workplace protocols that can increase efficiency and productivity. These theories apply scientific principles of interactions within a system to employee management by analyzing how race, class, gender, and internal and external influences affect decision making. Thus from this organization theories we learn about how to value your employees, about how a manager must take proper decision.

A March 2004 paper published in Creativity and Innovation Management makes the case that the amount of communication among the members of small research-and-development teams makes a big difference in their creativity. The paper, “Stimulating the Potential: Creative Performance and Communication in Innovation Teams,” was authored by Jan Kratzer, assistant professor for business development; Roger Leenders, associate professor of business development; and Jo van Engelen, professor of business development, all from the University of Groningen in the Netherlands. The authors studied innovation teams in 11 Dutch companies involved in developing hardware products ranging from computers to copiers. They collected questionnaires from 243 employees on 44 teams. The idea was to measure how creative performance, as self-reported by the employees, was affected by the levels and patterns of communication among team members. The frequency of communication was found to be a significant f...

As workers with critical experience retire, companies are turning to digital tools to limit the loss of valuable knowledge.Companies often don’t know what their employees’ experience contributes until employees leave, taking their unique knowledge assets with them. Thus we learn that we need to retent our corporate talent to the best and halt the corporate brain drain.

Important projects can easily get caught in a downward spiral if key stakeholders start questioning the project’s progress and withdrawing support. Savvy executives should be aware of common issues that can cause stakeholder skepticism — and take action to avert the “cycle of doubt” before it takes hold. Thus we learn that our project should always be without doubts.

In an experiment in teamwork at Deloitte LLP offices in India, giving employees license to experiment was a powerful motivator that raised their levels of contribution. Employees can be inspired to perform better if their creativity is challenged through teamwork. At four Deloitte LLP offices in India, Kumar, a managing partner in charge of Deloitte LLP’s India operations, and Raghavendran, vice president of analytics for Deloitte Financial Advisory Services in Hyderabad, India, initiated a contest. Employees were invited to join teams and asked to develop solutions to a wide range of challenging, real-life business problems. The program, called Maverick, judged teams on their ability to identify critical issues, come up with solutions that were smart, challenging and practical, and present their ideas to the organization. The program worked like a reality TV show, with a losing team eliminated from the contest each week, while winning teams advanced. Thus to advance we should h...

A team is one which has a specific goal with specific roles whereas a group is which has collection of people with something in common. The five stages of group development are : 1. Forming where team members learn about each other  2. Storming where while working team mates might engage each other in argument 3. Norming is where there is close relationship 4. Performance where a steady state is achieved 5. Adjourning where team members disband after completing their task. Thus from this article we learn that though an individual can achieve the assigned target it is much easier to work when a team works together which saves time without pressuring on just one person.

The law of supply and demand is a theory that seeks to explain the relationship between the availability and desire for a product, such as a security, and its price. The law affects the stock market by determining the prices of the individual stocks that make up the market.The major factors that impact the demand for stocks are economic data, interest rates, and corporate results. Thus from this article we learn that there is not just demand and supply of a product but also for stocks which increase demand when economy is performing better and vice versa.

Along with academic studies students should be aware of social issues. It plays a very important role in shaping the behaviour of a person in society. Today’s student is tomorrow’s society. I believe that it is very important for a student to be aware of what is going on in the society. If a student has proper social awareness, he can play an important role in the days to come. Thus from this article we learn that social awareness should be our key part and not just book knowledge as book knowledge might help only to extent of certain Industry or company but social awareness will help you know problem faced in the society around you and make your ass move to solve that particular problem if possible.

Managers in early 1990s had very few resources to draw upon to guide and develop their management practice. But theorists like Henry fayol made it possible for managers to get necessary resources and manage more effectively. Fayol has 14 principles of management which say that managers should know how to manage it's employees. Also the team should work with same objectives , employees satisfaction should also be taken care of.  Thus from this article we learn that Henry fayol gave us a lot of knowledge of how a manager as a person has to handle things and employees should also be in picture for future.