Article

Managerial Excellence: Three Reasons for Studying Organizational Behavior

Topic: ForexBy Nelly naneva, LL.M, MBFPublished Recently added

Legacy signals

Legacy popularity: 8,142 legacy views

What is the best way to manage an organization? Scientific management, training groups, wellness programs, and organizational culture are only small part of the many managerial approaches managers have tried to implement in order to make more effective the workings of companies. Where does a manager begin to implement all these concepts and ideas? Probably the best place is with an understanding of the principles of organizational behavior.

Practical Applications

There are significant practical benefits to understanding the principles of organizational behavior. For instance, the development of a personal leadership style can be guided by knowledge of the results of studies that have attempted to relate leadership style to situational requirements. The choice of a problem-solving strategy or the selection of an appropriate employee appraisal format can be influenced by additional knowledge of the results of studies in the associated topic areas. Particularly in the area of performance improvement, there are numerous benefits to be gained by applying the knowledge that has been gathered in the field of organizational behavior.

Attracting and developing talented individuals are two critically important issues to the survival and prosperity of an undertaking. Emphasis on the human element often distinguishes the most successful ones when it comes to organizational performance. This occurs because all serious competitors in a given industry are likely to have nearly the same level of technical sophistication. Thus, other input factors being equal, organizations that have talented and dedicated employees tend to be more effective. Furthermore, within a given industry, the vari­ability on human dimensions across organizations is likely to be greater than the variability on technical dimensions. Consequently, we can argue that the most important element to an organization’s welfare and the most neglected because of its less tangible nature is the human behavioral element.

As an illustration of how crucial the human element is to organizational success, consider the various professional sports teams. All of them have the same equipment and facilities like a stadium, trainers, practice facilities, and equipment. Further, each team has the same number of members and essentially the same structure. Therefore, what differs one team from another is largely traceable to the human element: the talent and efforts of the players and coaches, the ability of managers to develop their players’ skills and competences, and the ability of the coaches and players to motivate themselves to high levels of accomplishment.

Personal Growth

The second reason for studying organizational behavior is the personal fulfillment we gain from understanding our fellow humans. Understanding others may also lead to greater self-knowledge and self-insight. Such per­sonal growth is an aspect of education that is often cited as the greatest benefit of studying the liberal arts and sciences. Some may question the practical value of this feature in the business world. But it can, in fact, make a difference when it comes to advancing beyond an entry-level position. Entry-level hiring is largely based on education and technical competency, such as cer­tification in specialized areas. Promotions, how­ever, are normally based on more than technical knowledge and skills. They are often motivated by demonstrated ability to communicate and work effectively with superiors, peers, and subordinates. In summary, knowledge of or­ganizational behavior may not be a “union card” that helps you to be hired, but it will be invaluable to you once you have that first job and seek advancement.

Increased Knowledge

The third goal of organizational behavior is to gather knowledge about people in work settings. At a minimum, the field aims to gather knowledge for its own sake. As evidenced by the progress of many “pure science” fields, such as physics, space research, and chemistry, the practical use of certain findings may not be apparent for years. A similar process occurs in the field of organizational behavior. Although some organizational behavior findings may not have yet practical applications, they are undoubtedly valuable additions to human knowledge.

Article author

About the Author

Nelly Naneva works as CEO of the Financial Institution Freetrade JSC and as Editor of the Online Financial Magazines Markets Weekly (http://marketsweekly.net).
She holds Masters' Degrees in Law from Sofia University St. Kliment Ohridski, Bulgaria and in Banking and Finance from Institute of Financial Services, School of Finance, Great Britain.

Further reading

Further Reading

4 total

Article

Trading in the forex market once was the domain of banks and large banking institutions; nowadays though, it has become offered to the average individual, because of computers and the Internet. With the proliferation of a lot of Forex trading software systems, along with the simple fact that one can get started with a mere $100 (or even less) to open up a Forex trading account, it is no wonder that the average daily turnover of the global foreign exchange market has expanded to almost $4 trillion in April 2010 vs. $1.7 trillion in 1998.

Related piece

Article

The benefit of automation goes far beyond the capacity to stay away from the computer for lengthened periods of time. Automation allows for more trades than manual execution, and even more importantly, takes away the unsafe factor of non sense human emotion from trading. Automation is the New Traderrnr

Related piece

Article

In this article, we will discuss 3 of the finest online trading tactics for Forex strategy trading. There's no question that most technological advancements have occurred in the last decade, signaling a revolution in the online trading field, particularly Forex. Thus, if you want to get to the top and become a profitable trader, these include 3 essential things that you have to remember to become successful in Forex:r

Related piece

Article

When you go searching for a forex trading strategy that works, it can be tricky to determine what is a viable approach to take. Many tactics depend on very short-run targets which could produce big revenue for a short time and then a crash. Dishonest dealers produce these systems to market to beginners because they can direct attention to a good month which usually exhibits awesome outcomes. They never inform you of the negative effects.

Related piece