Managing the Organizational Change and Culture in the Age of Globalization

Abstract

Abstract. Great shifts -genuine and radical transformation -have been shaping the economy and business environment in recent decades. The world is going to be too tough and competitors too ingenious as companies are shaken loose from traditional ways of conducting business. Therefore, the old principles no longer work in the age of Globalization.Based on her research, Dr Radović Marković tried to make a profi le of a successful organization which will be in the best way adopted to business environment in the new economy. Namely,in order to get a complete picture how the winning organization will look like in the future, the author concluded that the successful companies in the future will be the ones which are wise enough to harness the full potential of the entire organization in the rapidly changing business environment .It means that the winners will be the unbridled fi rms that are responsive to challenges and adroit in both creating opportunities and capturing them. In other words, to match the business environment that is more networked within and among companies, the ability to manufacture value will have to be distributed across the company to a much greater extent than in the past. Under these circumstances, managers need to transform themselves, too. They need to have a better framework for thinking about and understanding organizational change. Additionally, continuous learning is the key competency required by any organization that wants to survive and thrive in the newknowledge economy. Market champions keep asking learning questions, keep learning how to do things better, and keep spreading that knowledge throughout their organization. Knowledge organizations obtain competitive advantage from continuous learning, both individual and collective, concluded Dr.Radović Marković.The author also stresses that it is necessary to determine general personal knowledge and education, then to examine knowledge or various specializations in certain areas and lastly to identify their skills. Recent researches in the USA show that business owners who were not educated enough for the business in which they were engaged, were not successful (80 % of their businesses failed during the fi rst year of their existence). On the opposite, those entrepreneurs who were educated and who showed constant interest in improving their activities have increased their business success by 60 % after the completion of the basic training programs for entrepreneurship and management. Therefore the author pointed out that more highly skilled workforce should be benefi cial to organizations. Additionally, the human capital approach refl ects the view that the market value of the fi rm increasingly depends on intangible rather than tangible resources. The three main components of human capital are described as a) early ability, b) qualifi cations and knowledge acquired through education and c) skills, competencies and expertise through on-and off-the-job training. This would suggest that individual capability is enhanced by greater quali...

Human Capital and Social Capital in Entrepreneurs and Managers of Small and Medium Enterprises

“…Such individuals can take advantage of greater benefits by seizing appropriate business opportunities. Markovic (2008) believes that individual capability is enhanced by higher skill and qualification levels, and this suggest that better human capital would enhance organizational performance. As such, Hambrick and Mason (1984) state that routine activities of managers are influenced by their past experiences and previously established interpersonal relationships.…”

A Study of The Influence of Organizational Learning on Employees’ Innovative Behavior and Work Engagement by A Cross-Level Examination

“…The expectation is to acquire more knowledge via learning so as to enhance its competitiveness (Markovic, 2008). Therefore, within an organization, it is extremely important to be good at creating, acquiring, transforming, and utilizing knowledge so as to correct its behavior by organizational learning in order to cope well with the rapid-changing environment (Senge, 1990;Real, Leal & Rolda'n, 2006).…”

The Effect of Management Commitment to Service Quality on Job Embeddedness and Performance Outcomes

“…In addition, training, empowerment, and rewards have been reported or discussed to increase organizational development, attract qualified individuals, and enhance employee work outcomes (e.g. organizational commitment, job performance, and job satisfaction) (Ashill et al 2005;Marković 2008;Rees, Althakhri 2008;Singh 2007;Yavas et al 2010). …”