Principles of Management: CONTEMPORARY APPROACHES (Learning organization, High performance practices, shared value& Sustainable development) 2023

Principles of Management: CONTEMPORARY APPROACHES (Learning organization, High performance practices, shared value& Sustainable development) 2023 The three contemporary approaches include: - Correct Answer > The learning organization >High-performance practices > Shared value & Sustainable Development Learning organization - Correct Answer an organization that actively creates, acquires, and transfers knowledge within itself and is able to modify its behavior to reflect new knowledge The three parts to a learning organization are: - Correct Answer > Creating and acquiring knowledge > Transferring Knowledge > Modifying behavior Creating and acquiring knowledge - Correct Answer > acquire knowledge by constantly scanning the external environment > hiring new talent and expertise when needed > devoting significant resources to training and developing their employees Transferring knowledge - Correct Answer Sharing information and reducing barriers: > Share your personal success story and challenges overcome > be ready to learn anything and everything from your peers and employees > align your learning goals for the company with it's business goals. Modifying behavior - Correct Answer Improving work related operations based on good or bad results. If there is a problem, learn from it and try to resolve the problem. High-performance work practices - Correct Answer Improve an organization's ability to effectively attract, select, hire, develop and retain high-performing personnel.