Managing for the Future

In: Business and Management

Submitted By hxtroy168
Words 5049
Pages 21
Virtual Management - a New Business Organization Paradigm
JJ Murphy Negotiation Newsletter Calum Coburn Co Ltd ( private paper).
This article discusses how traditional organizational management methods and structures are failing to adequately accommodate a complexity-based world view, which is characterized by discontinuous change, hyper competition and the exponential explosion of information science. Virtual organizational management is the needed change in the management paradigm.

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This article argues that traditional management methods and structures are failing to adequately accommodate a complexity-based world view, which is characterized by discontinuous change, hyper competition and the exponential explosion of information science and shows how the management paradigm has been updated by the new era of the virtual structures.

While the management structures and systems developed by such researchers as Weber, Fayol, Taylor and Drucker in the 19th and 20th centuries established a management paradigm which has endured up to the millennium, these "simple" structures and systems were more suited to a time when competition was slower, less aggressive, and characterized by long periods of stability, and when information science was in its embryonic or primordial stage. It is abundantly clear, however, that the arrival of the 21st Century demands a fundamental rethink, and the development of a management paradigm that can withstand the pressure of rapid change in a borderless, connected and wired world, relying more and more on virtual structures - a virtual management system.

New technologies have led to a new information/ knowledge-based economy, in terms of which organizations have become increasingly complex. The technologically induced emergence of a "virtual" environment…...

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