Emerging Developments

Managing change is probably the single most important issue for those who are entrusted with the responsibility to manage organisations. In the past few years, we have witnessed rapid technological changes and increased global competition caused by liberalisation and deregulation. These developments have placed greater demands on organisations, which now have to be even more flexible, responsive and efficient. Organisations, big and small, the world  over face the inevitable prospect of change, which takes many forms and involves simultaneously managing resources, processes and emotions. For these reasons, managing change in the contemporary world is a complicated and challenging task. There are several management theories, models and tools but intense competition forces organisations to find ever new ways of grappling with the rapid rate of change. Restructuring is one of the successful ways of meeting such demands imposed by rapid change. The current restructuring models all over the world are manifesting in the form of mergers and acquisitions.

Organisations are economic and social entities in which a number of persons perform multifarious tasks in order to attain common goals. Organisations also act as effective instruments and help individuals in accomplishing their personal objectives which cannot be achieved by the individual alone. In this unit, you will learn about emerging trends in the organisations and changes in their structures.