MANAGEMENT BY PRACTICE
Management as a branch of knowledge emanated out of the need to cater to what Peter Drucker, termed as managed institutions. From managed institutions in all sectors, management education today is limited to business enterprises. Business Schools impart basic management education, refresher & executive courses and conduct & high end research. New management theories, concepts & processes hit the professional domain on a regular basis. Worthwhile research happens in the industry too, the challenge is of adoption.
The latest findings of management faces the problem of adoption. While we celebrate these models, live examples of successful adoption are difficult to come by. Excellent business case studies like Toyota Way is discussed & taught intensely, but the execution is sketchy.
The decimation of Kodak & lots others portent bad times because of their inability to see beyond the day to day business.Disruptive Innovation a substantiated concept, still has very few takers. Out of the Box types jargons adorn CVs, Vision & Mission statements & corporate publicity material, but is it making a difference?. The management mindset has to change to create & run enduring business entities in a sustainable & dynamic way.
How to bridge this gap? It’s the same lab to the field story. The practices of a company or an institution slowly takes the shape of a unbreakable business operational mechanism. The comfort level gained & resistance to change cannot be overcome. The knowledge & skill updation doesn’t happen, as per current requirements, making incremental changes insurmountable. The ever learning & skilling organisation has to take roots. Till it doesn’t happen, all the giant strides made in management would be limited to few path breaking companies. Some fall in the same rut shortly. Management is an execution & an operational mantra.
MANAGEMENT BY PRACTICE IS THE ONLY PANACEA TO SUCCESSFUL BUSINESS.