Managing in a mized economy Essay Example | Topics and Well Written Essays - 1250 words

Managing in a mized economy - Essay ExampleThis therefore sum that management of an entity would eat up to set up a system of delegation and working that would alter individuals within an organisation to extract resources from the society, process it and then sell it to members of the society. Most organisations ar either publicly or privately owned (Gadkari, 1997). However, there is a growing trend of social entrepreneurship. Social entrepreneurship is a term linked to the activists, NGOs, policymakers, international institutions and corporations which cut through a range of social issues in innovative and creative ways (Nicholls, 2006). Management techniques ar adapted to be able to give all organisations guidelines and codes of outgo practices to apply in the setting up and running of successful businesses (Montana & Charnov, 2008). Management encourages the people with power and authority in organisations to set up permanent systems and structures as well as periodic targe ts and ends and ensure that they argon attained through leading, co-ordination, monitoring and evaluation (Witzel, 2004). In this sense, management gives sufficient tools, techniques and guidance that can enable people in all forms of organisations to attain results. This means that management just gives people in authority the right and ideal standards and techniques to attain the standards and targets they set. This therefore means that management in public, private and voluntary organisations are essentially the same. However, Holley et al (2009) state that management in public, private and voluntary organisations are different because of the inhering nature of these forms of business. First of all, the public sector is set up by the government to provide services to the public at little or no costs. On the other hand, private businesses are set up to render a service to the society with a view of maximizing the profits of the owners. wilful organisations on the other hand, are set up by non-governmental entities to provide services to the public at little or no costs and are usually funded by philanthropic efforts. The structures of authority and establishment of these entities create inherent differences in these organisations that makes it inappropriate for a manager to use the management system that plant life for one class of entity on another. This is because the governments requirement from public sector organisations are not the same as those used by the shareholders of private companies. Also, the requirements of sponsors of voluntary organisations are genuinely different from these two. This therefore makes it necessary for different management systems to be used in each of these cases. Holley et al (2009) state that monopolistic conditions often pull through in the public sector. This is because few people provide the same service that public sectors do. This therefore means that the requirements and desires of the public sector are not very demanding. On the other hand, the private sector is very competitive. This is because an average business seeks to gain a larger market share in the face of contender from other businesses that provide similar goods and services to members of the public. This therefore means that a private sector organisation needs to remain competitive to survive into the predictable future. Voluntary organisations are also specialised in their nature and do not often face competition directly (Courtney, 2002). However, their supreme goal is