Management Jargons discussed in POM Lecture.

Objective:The Objective of this blog is to explain the different management jargons which were discussed during our lecture of Principle of Organisational Management.

It was a different kind of lecture wherein various management jargons were discussed and students shared their opinions about them. Lets discuss these jargons one by one.

Theory Z:

Theory Z, proposed by Dr. William Ouchi focuses on increasing employee loyalty by providing stable employment with a strong focus on the overall well-being of the employee. This theory assumes that employees are disciplined, can be trusted to do thier job, and want to build happy and intimate working relationships with their subordinates, peers and superiors. They value a working environment where family, cultures, traditions and social institutions are regarded as equally important as the work itself.

According to Ouchi, Theory Z management style leads to high productivity, high employee morale and satisfaction. Ouchi’s Theory Z is often referred to as the ‘Japanese’ management style as well.

Transformational Leadership:

Transformational Leadership enhances the motivation, morale, and performance of followers through a variety of mechanisms. These include connecting the follower's sense of identity and self to the project and the collective identity of the organization; being a role model for followers that inspires them and makes them interested; challenging followers to take greater ownership for their work, and understanding the strengths and weaknesses of followers, so the leader can align followers with tasks that enhance their performance.

Informal Organisation:

It is the interlocking social structure that governs how people work together in practice. It is the aggregate of, norms, personal and professional connections through which work gets done and relationships are built among people who share a common organizational affiliation or cluster of affiliations. It consists of a dynamic set of personal relationships, social networks, communities of common interest, and emotional sources of motivation. The informal organization evolves, and the complex social dynamics of its members

Intrinsic reward:

Intrinsic reward fulfills employee’s intrinsic factors or motivators and thus motivates him.Examples include; giving challenging task, involving in decision making process, giving a higher rank in hierarchy etc all these rewards do not required to have increased salary as well and employee may be working at higher management rank without an increase in the salary and still more motivated.

Extrinsic reward:

Extrinsic reward fulfills employees extrinsic factors or hygiene factors and thus do not let him start thinking about leaving the company. Examples include; pay rise, bonuses, paid leaves, annual recreational plans etc. 

7 S model:

The McKinsey 7S Framework is a management model developed by well-known business consultants Robert H. Waterman, Jr.and Tom Peters (who also developed the MBWA-- "Management By Walking Around" motif, and authored In Search of Excellence) in the 1980s. This was a strategic vision for groups, to include businesses, business units, and teams. The 7S are structure, strategy, systems, skills, style, staff and shared values.

We can understand this model better by watching this video:

 
Rational model of decision making:

he rational planning model is the process of realizing a problem, establishing and evaluating planning criteria, creating alternatives, implementing alternatives, and monitoring progress of the alternatives. It is used in designing neighborhoods, cities, and regions. The rational planning model is central in the development of modern urban planning and transportation planning. The very similar rational decision-making model, as it is called in organizational behavior, is a process for making logically sound decisions.This multi-step model and aims to be logical and follow the orderly path from problem identification through solution.
Job rotation and Job design:


Contingency approach:

Contingency approach, also known as situational approach, is a concept in management stating that there is no one universally applicable set of management principles (rules) by which to manage organizations. Organizations are individually different, face different situations (contingency variables), and require different ways of managing. Contingency approaches remain less common than change management approaches.

Forcefield theory:

Force Field Analysis is a useful decision-making technique. It helps you make a decision by analyzing the forces for and against a change, and it helps you communicate the reasoning behind your decision. You can use it for two purposes: to decide whether to go ahead with the change; and to increase your chances of success, by strengthening the forces supporting change and weakening those against it.

 
I hope i was able to explain the basic management jargons clearly. Please share your valuable feedback in comments section.