1. 1 Dynamics of Modern Management (Summary) By Dr. Fred Mugambi Mwirigi

2. 2 Introduction Management is a dynamic process. Management is a dynamic process. Its application changes on a continuous basis to suit changing times and situations Its application changes on a continuous basis to suit changing times and situations Organizational success is chiefly dependent on the ‘fit’ between the firm’s internal dynamism and the changes within its external environment Organizational success is chiefly dependent on the ‘fit’ between the firm’s internal dynamism and the changes within its external environment The sustenance of this ‘fit’ forms the backbone of modern management The sustenance of this ‘fit’ forms the backbone of modern management

3. 3 Basis for Dynamism in Modern Management A) Functionality of departments B) Industry components (Players) C) Theoretical paradigms D) Information and Technology E) Economic trends and Shifts

4. 4 A) Functionality of Departments Human Resource Human Resource IT IT Marketing Marketing Production Production Security Security General Operations General Operations

5. 5 B) Industry components (Players) Banking Banking Insurance Insurance NGOs NGOs Religious Sector Religious Sector Government departments and agencies Government departments and agencies ICT ICT

6. 6 C) Theoretical paradigms Management theories and approaches Management theories and approaches H.R. theories and approaches H.R. theories and approaches Cultural paradigms Cultural paradigms Religious paradigms Religious paradigms Social developmental paradigms Social developmental paradigms Political paradigms Political paradigms

7. 7 D) Information and Technology Business growth and profitability in modern times is largely based on the extent to which a firm gathers and uses information and relevant cost-effective and efficient technologies Business growth and profitability in modern times is largely based on the extent to which a firm gathers and uses information and relevant cost-effective and efficient technologies Technologies cut across departments and activities and may revolve around the following: Technologies cut across departments and activities and may revolve around the following: 1. Production processes 2. Equipment 3. Management of personnel (e.g. log-in and log-out cards) 4. Marketing 5. And others

8. 8 E) Economic trends and Shifts Inflation Inflation Currency Fluctuations Currency Fluctuations Internal and external business tariffs Internal and external business tariffs Others Others

9. 9 Thank you