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Innovative Management in Excel Chemicals, Research Paper Example

Pages: 4

Words: 1043

Research Paper

Introduction

Within the commercial sector, management entails coordinating efforts exerted by human resources and directing them towards accomplishing a desired goal. Management takes into consideration the immediate resources available for production, and strives to utilize these resources in an economically optimal manner. All the basic functions of managers, which include planning, organizing, leading, and controlling activities aims at achieving some predetermined objectives. According to Alexander (2010), management needs innovative practices in order to develop mechanisms suitable for modern dynamic business environments. In this case, managers apply conceptual and expertise skills in responding to changing business situations.

In their duties, managers work towards accomplishing objectives encrypted in a company’s mission and vision statements. However, certain factors operating within a given commercial industry requires adaptive measures meant to solve new problems. In this regard, managers are in constant search of new values with a sole purpose of crafting solutions that meets the emerging market needs. In actual practice, management adopts varied skills in rolling out a successful innovative mechanism in the market. Phillips (2008) says that such skills results from technological advances, changes in consumer patterns and emergence of new ideas from managers themselves. In this context, innovative management practices differ from improved management practices. Innovative skills aims at developing new ways of executing business tasks while improved management aims at utilizing already available skills in a more effective manner than before. In order to appraise application of innovative management in the field, we will consider acknowledging skills adopted by Excel chemical industries. Innovative practices employed by the company include;

  1. Customer Relationship Management

Excel chemicals deals with manufacture and distribution of refined chemical products for use as materials in other industries. As one innovative management practice, Excel employs an effective customer relationship management program in ensuring existence of a solid relationship with their product consumers. They take into considerations concerns of their customers both in their manufacturing and distribution channels. The company’s research department approaches their customers for feedback on their products and services. Upon collecting the required feedback, Excel incorporates reliable suggestions into developing custom made products that suits customers’ preferences. Excel sends periodical questionnaires through emails to obtain information from their customers. According to Utterback (2006), this innovative practice facilitates development of better products and service delivery.

  1. Sales Force Automation

The company also adopts the practice of sales force automation in conducting its marketing practices. Marketing managers acknowledge the need to develop a comprehensive marketing system containing relevant information of key customers in the market. In this case, sales representatives participate in supplementing information regarding the nature of consumer behavior in the market. The management then stores all the acquired data in a centralized information system where authorized marketing personnel can gain access. Upon developing an insight on consumer patterns, sales persons will strive to reinforce an observed behavior in order to achieve a desired objective. According to Phillips (2008), typical behaviors include the tendency of consumers to develop a positive perception on moderately priced products in the market as opposed to lowly priced products. In this case, Excel utilizes their sales force automation practice in managing all their marketing activities.

  1. Meeting Management

Another innovative skill involves utilizing human resource responses during meetings with stakeholders, especially the company’s workforce. The company’s management adopts a system where executive and technical meetings provide desired outcomes. In this context, managers ensure equal participation of all members in deliberation processes. Managers provide discussion topics to employees’ representatives prior to holding meetings. This enables the representatives to conduct an objective research on the best course of action viable address an issue under consideration. In the meeting room, each member presents his or her findings for a specified period of time, upon which all ideas are taken into consideration. Subsequently, such meetings yield objective outcomes that serve the best interest of all involved stakeholders. In the long run, such deliberative processes ensure development of a positive relationship between management and employees. Alexander (2010) agrees that this leads to a more productive workforce.

  1. Research and Development

The forth management practice employed within Excel chemicals involves intensive utilization of research techniques. The company’s administration has put in place an operational research facility with all the necessary skills and technology. Within the facility, product developers conduct investigations into developing new and improved methods of production. On the other hand, marketing personnel collect and analyze research data in order to create an insight on the forces operating within their market segments. In addition, social scientists utilize research techniques in understanding the social welfare of employees within their respective work stations. Furthermore, company psychologist process information regarding the influence of work patterns on employees performance. All information and findings obtained from these researches facilitates development of a rational understanding on the forces influencing the company’s business practices. According to Harry & Jain (2010), a company like Excel can utilize resultant findings in addressing problems within their human resource, productions and marketing sectors.

  1. Innovation Center

Still on innovative management, Excel chemicals have recently opened up a business innovation and incubation center for interested persons in the fields of academia and professional services. This center encourages college students and young professionals to present their entrepreneurial ideas for vetting by the center’s board. In case the board approves of an idea, the owner gets assistance in form of resource leverage. The company uses the numerous ideas in tapping innovative opportunities present in the market. In addition, it uses the center as a channel of acquiring talented and interested graduates ready to join Excel’s workforce.

All the five management practices strive towards responding to the company’s needs for innovation. Harry & Jain (2010) asserts that these practices enable management to tap new skills into production and utilize all available avenues in executing their marketing practices. As a result, innovative management proves resourceful in responding to new problems in the chemical production industry. In addition, these management practices open up new markets and develop new products for the company.

Reference List

Alexander, M. (2010). Disruptive Business: Desire, Innovation and the Re-Design of Business. Pittsburgh: Gower Publishing, Ltd.

Jain, R & Harry, C. (2010). Managing Research, Development and Innovation: Managing the Unmanageable. New York: John Wiley & Sons.

Phillips, N. (2008). Innovative Management: A Pragmatic guide to New Techniques. Washington DC: Financial Times.

Utterback, J. M. (2006). Mastering the Dynamics of Innovation. New York: Harvard Business Press.

 

 

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