Managing Company of the Future Coursera Course Summary

My key notes summary from Coursera Course: Managing Company of the Future

New strategic challenges

1) Technology: Web 2.0
2) Social change: Gen Y
3) Emerging economies
4) Sustainability concerns

Our management model is now no longer fit for purpose such as:
-Coordination achieved through rules and procedures
-Decisions made according to hierarchy
-People motivated by extrinsic rewards
-Objectives set through linear alignment

Leadership: A process of social influence
A leader is someone who attracts followers by virtue of what they say and what they act

Management Framework: (Koontz & O'Donnell, 1955)

Management is getting work done through others. Bringing people together to accomplish desired goals.

Leadership and management are different but it complements each other. We need both of them. Find the right balance and equal prominence.

We are now in the knowledge era. It's an era in which essentially knowledge and information are the resources on which competitiveness is created.


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