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What business and management education should teach to undergraduates to become successful managers in an international environment.

In todays modern world, education is not enough to ensure that you will become a successful manager in an international environment. For future managers to be ready for the harsh true world of business, teachers should adapt their teaching methods from the old style of just giving the information to the listener to a more interactive, practice based style that makes the student learn from experience rather then from books. Managers today face a new set of problems, products of a volatile and unforgiving environment. How do you create in an age of rapid change, organizations that are as adaptable and resilient as they are focused on efficient? First of all modern managers and teachers must admit that the Management system built starting with the beginning of the industrial age, has reached its limits. The bureaucratic management practices which has been main stream for the past 150 years cannot keep up with the new globalized system of business, where innovation is the key to staying competitive and increasingly rapid technological development has pushed the limits of production to new levels. The first thing teachers must make their students understand is that tomorrows organizations must be adaptable, innovative, inspiring, and socially responsible, as well as operationally excellent. To imbue organizations with these attributes, scholars and practitioners must rebuild managements underpinnings. That will require hunting for new principles in fields as diverse as anthropology, biology, design, political science, urban planning, and theology. Traditional control systems ensure high levels of compliance but do so at the expense of employee creativity, entrepreneurship, and engagement. To overcome the discipline-versus-innovation trade-off, tomorrows control systems will need to rely more on peer review and less on top-down supervision. They must leverage

the power of shared values and aspirations while loosening the straitjacket of rules and strictures. The goal: organizations filled with employees who are capable of self-discipline. Todays environment does not need people that react to the market environment but for people who try to innovate and change it. Most management systems give a disproportionate share of influence over strategy and policy to a small number of senior executives. Ironically, these are the people most vested in the status quo and most likely to defend it. Thats why incumbents often surrender the future to upstarts. The only solution is to develop management systems that redistribute power to those who have most of their emotional equity invested in the future and have the least to lose from change. Future managers need to understand that they will need to optimize trade-offs. Organizational success in the years ahead will hinge on the ability of employees at all levels to manage seemingly irreconcilable trade-offsbetween short-term earnings and long-term growth, competition and collaboration, structure and emergence, discipline and freedom, and individual and team success. Traditional systems rely on crude, universal policies that favor certain goals at the expense of others. Tomorrows systems must encourage healthy competition between opposing objectives and enable frontline employees to dynamically optimize key trade-offs. The aim is to create organizations that combine the exploration and learning capabilities of decentralized networks with the decision-making efficiency and focus of hierarchies. Another big problem of todays working environment is that most people have become extremely focused on the leadership powers that management has to offer. Nobody tries to be a good manager anymore, they try to be good leaders. But management and leadership go hand in hand, you cannot have one or the other. The problem is that plain old management is complicated and confusing. Managers are supposed to be both global and local. To change perpetually, to maintain order, to achieve result while taking care of you employees. How are we supposed to do that ? The fact is no one can. Future managers need to think different, they need to focus not only on what they have to accomplish but also on how they have to think.

In a turbulent world, prediction is difficult and long-range planning of limited value. Management processes that seek to arrive at the one best strategy through top-down, analytical methods must give way to models based on the biological principles of variety (generate lots of options), selection (use low-cost experiments to rapidly test critical assumptions), and retention (pour resources into the strategies that are gaining the most traction in the marketplace). In the future, top management wont make strategy but will work to create the conditions in which new strategies can emerge and evolve. We need to reinvent our strategy making process as an emergent process. We live in a world where Globalization has become main stream, which has a direct effect on how we view our world. We see it from a distance, assuming and encouraging a certain homogeneity of behavior. But if we look closer we realize that our world is made up of many different little worlds. That is why we should encourage future managers to be more experience in life. But my question is: How much experience can you gain? Usually experience is gained not through learning but through trial and error. Practice as I said in the beginning is the key. Gaining information rather than just storing it is true learning. This does not mean that we should through away over 150 years of experience down the drain. There are many benefits to knowing management theory. An old saying tells us that: The truth can be found in the middle. I believe this is also the case here. For next generations to be effective managers, universities today need to create a new process by which theory goes hand in hand with practice. Not in the way of project or competitions but in simulated markets and working environments, or any other method which proves effective in making the students learn with pleasure not by force.

Stefan Marian Dumitru Group 933, Series D, REI

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