Management Practice of the 21st Century Essay Example | Topics and Well Written Essays - 6250 words

instruction Practice of the 21st Century - Essay Exampledecentralized command-and-control, and so forth. (Manager2006)To some extent they break experience managerial behaviour in different tastes and concerns. For example in business concerns sales directly do we deploy the kindred patterns of selling behaviour as it was some decades ago Does that pattern is line up by harvest-tide, geography, or industry Does technology have some impact in the marketplaceing of that product Many twenty-plus year sales veterans recall that they have witnessed all three shams implemented within the same firm, seen them come, and go, and come back. However, managers, and especially older executives, are increasingly learning that relying solely on memory of then(prenominal) experiences to make decisions is also problematic. If an industry or market is changing, prior experience and personal memory whitethorn be outdated, irrelevant to the new circumstance. An incorrect lesson can also be draw n from prior experience. Coca-Colas senior management appeared quite affected by this when they decided to retire the firms premier product the Coca-Cola drink and interchange it with a new variant. The results were disastrous and the firm had to bring back its main product, now called Coca-Cola Classic. The episode has at rest(p) down in business history as a classic misjudgement. Smart people unspoilt drew the wrong lessons from past events. That is why the rigors of knowledge management and analysis of market conditions must outlast side-by-side with personal expertise and experience. (Manager2006)According to Winchester John, organizations that adopt e-business practices make use of electronic networks to transform their processes and exchange value, including money, goods and services. The model for these new kinds of companies has evolved from websites through e-commerce and e-channels to an all-pervasive use of electronic means to interact, collaborate and transact busine ss. The significant investment that is creation made by enterprises in this sector is accelerating the pace at which transactions and information can be moved across the worlds communications networks and in turn is transforming more customers into e-consumers. In addition to the development of the market itself, advances in technology are enabling these solutions to perform more business functions and services than ever before. (Winchester, 2006)Managing tack Chain 21st century business environmentis defined byrapid change on a global scale, in terms