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¶ … guidance which is needed by a new CEO of a multinational firm. Here we explain how any changes in the existing culture of management could benefit not only the manager but the whole firm. We will explain some advantages of this new style which the CEO can take note of in rebuilding the structure of the whole firm.
Different management models
There are many types of management models available which can be adopted by any business firm such as Alignment strategic planning model, Basic strategic planning model, organic or self-organizing strategic model, issue-based or goal-based strategic model and scenario strategic planning model. Although our chosen multinational firm can adopt any of the mentioned models, it is essential that the style of management is properly determined so that the best out of these models is attained. Let's compare and contrast the styles of management.
Autocratic vs. Participative management style
"Any manages who adopts the autocratic style exercises its complete authority over the work group so that things get done in a strict manner" (Thierauf, 1980). The manager here completely takes over the decision making and operation running aspects of the team without considering or seeking any advice from its workers. Certain places might benefit from such style but overall this might foster resentment among the employees of the firm which is damaging for the whole organization. Compared to this, the participative manager encourages feedback...
Here the common worker feels that its voice is heard and its opinion matters, it is also seen that in many cases great ideas come from the lower chain of command and this can greatly benefit the firm in whole.
Participation can also encourage the employees to give their best to their organization. It is commonly seen that the multinational firms throughout the globe uses the participation style of management and they even give proper credit to those employees whose feedback helps the firm, this sort of action creates an environment of competition within the firm where every employee wants to surpass the other in performing better. Therefore this style is preferred for our case.
Centralized vs. decentralized decision making
Centralized decision making relies on just one person to make all the decisions and give the firm its direction. Many small businesses often use this type of decision making since the owner is solely responsible for the whole firm's business operations. Decentralized decision making often includes many individuals who are responsible for running business and making business decisions. Here at every level the firm may have some sort of autonomy in making business decisions.
"Centralized style can be very efficient but it is generally seen to work more at any business of small level" (Monin, 2004). The Decentralized style properly utilizes individuals who have variety of knowledge and expertise for running…
References
Herr, P. (2009). Primal Management. New York: American Management Association.
Monin, N. (2004). Management Theory. London: Routledge.
Thierauf, R. (1980). Management Auditing. New York: AMACOM.
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