Assignment Help on Seven Tools of Management and learn how management can benefits from using them.
Benchmarking, strategic planning, mission & vision statement, customer relationship management (CRM), outsourcing,
balanced scoreboard and change management programs are the seven tools that are used by organizations for effective management. With the application of benchmarking, management enables to identify and apply best-demonstrated practices for the operations. Strategic planning helps the management to determine the full potential of business and to create a link between the business objectives, actions and resources that are required to achieve organizational goals.
Vision and mission statement includes company’s values, goals and purpose that help to take business decision appropriately. The management uses their party to perform the noncore activities of the organization by outsourcing so that it can concentrate and create competencies from its core business. At the same time, CRM is helpful for management to determine and understand the need of consumers so that they can respond quickly. With this, huge customer data is collected, stored and updated that are used by management to carry the most appropriate strategy to enhance consumer base. The balanced scoreboard demonstrates the criteria for performance as per the mission and vision of organization, so that management can appraise and quantify the performance effectively. Change management programs are used as a tool by management to bring the changes in such way that can reap benefit for business. All above management tools are used by management with the varied purposes, which are effective to enhance organizational performance.
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