Impact of IT on Bank Performance

Effect of IT on Bank Performance Effect OF INTERNET TECHNOLOGY ON BANKS PERFORMANCE AND CUSTOMERS SATISFACTION Theoretical Web innovation is well known and has numerous advantages for the clients; anyway it does has a few components of security dangers to the bank and its clients on the loose. In this examination work, I mean to take a gander at effect of web innovation on Bank, its representatives and the clients. All the more significantly, endeavors were likewise made to examination into different dangers related with this innovation, for example, hacking, spam-email, phishing, wholesale fraud or cheats and numerous others. After basic gander at this innovation and its related dangers particularly the data fraud, two arrangements of arrangements were suggested. The main set arrangements tended to physical access control while the subsequent viewpoint manage validation through the procedure of unique mark and voice acknowledgment. 1.0 INTRODUCTION This task is attempting to assess the effect of Internet innovation on banks execution and clients fulfillment. Banking industry is the bedrock of economy, the territory of Banks will direct the condition of economy. In the event that it corrals, so will the economy. The present worldwide economy downturn bears witness to this announcement. Innovation advancement like Internet is weighty in banking framework. Exchanges worth of billions of dollars occur in seconds in the electronic circuit all through the globe (Castells, 2001). The banking and budgetary industry is changing itself in capricious manners (Crane and Bodies 1996). Preceding the rocket of innovation in banking part, the capacity of the branch was not normal for the capacity of present branch. Prior before the 1970s, the structure of the branch and capacities were like one and other. Item contributions were similarly the equivalent and branches were just road for clients to make bank exchanges. Greater part of these banks were just depending on a couple of branches however with many staff and clerks. Clients were exposed to long far off going before they could do banking exchanges. Up close and personal conventional banking was just intends to process bank credit, make lodgements and withdrawals and clients were exposed to long line in the financial lobby. In any case, the expansion in the degree of banking innovation made the banks began a procedure of transform that continue till the finish of the twentieth century. As a major aspect of procedure, numerous channels of disseminations were presented. Among these stations are Automated Teller Machine (ATM), Internet banking, Telephone banking, call-focus, electronic subsidizes move, remote banking, and voice informing frameworks, videoconferencing and numerous others. Fast development and improvement in web innovation in the course of the most recent four decades have extraordinary effect on associations. The effect was exceptionally observable in territory of administrations, items offering and business forms. Banks have use web innovation to cut activities costs, increment characteristics, efficiencies and improve esteem added administrations to the clients. Additionally, interest in innovation gives upper hands to certain Banks prompting a few banks have chances to perform superior to their adversaries. Banks through the development of web innovation had the option to offer better and less expensive types of assistance than customary arrangement of branch banking. Aside from these, level of banking exchanges were similarly expanded, Convenience and twenty four hours banking administrations were likewise seen in banking framework. All the more significantly, the degree of correspondence inside and outside the financial condition were similarly i mproved, access to the correct data and high caliber of administrations were not bargained. The financial condition turned out to be all the more inviting and adaptable. Data that can just accessible through the methods for innovation turned into a significant part of the banking. Numerous individuals contended that it was advance in innovation of 1990s that made it conceivable to build up those channel of conveyances and framework that permitted the banks to render a phenomenal top notch administrations. In conclusive examination, this exploration work survey a part of banking that is inadequate in Traditional Bank a web based banking and its effect on consumer loyalty and banks execution. 1.1 AIM AND OBJECTIVES The examination on Internet innovation in banking and acknowledgment of present day banking by clients have been seen in alternate points of view yet scarcely any parts of this theme are left with minimal exploratory. There is little examination on the impacts of Internet innovation on banks gainfulness and clients fulfillment. Numerous analysts didn't completely concur that Internet innovation has tremendously influenced the productivity level of the banks. The method of reasoning behind this is to offer a superior comprehension on how web banking is advancing. This examination expects to accomplish the accompanying targets: 1. Exploration the issue of data fraud and card authorisation 2. Assess the issue concerning lost income 3. Exploration the other work done around there. 4. Proffer answer for the issue of wholesale fraud and card authorisation. 5. Actualizing arrangements and the money saving advantages 1.2 CONTEXT OF THE STUDY Banks have use web innovation to cut activities costs, increment characteristics, efficiencies and improve esteem added administrations to the clients. Additionally, interest in innovation gives upper hands to certain Banks prompting a few banks having chances to perform superior to their adversaries. This examination work is concentrating on two significant key components which are: 1) Impact of web innovation on Bank and its clients and; 2) Associated dangers with web innovation with more accentuation on data fraud 1.3 EXPECTED CONTRIBUTION TO KNOWLEDGE The normal commitments to information on this examination work are to recognize different burglary and card authorisation, assess the issue concerning lost income and proffer answer for the issues. 2.0 LITERATURE REVIEW It is my aim to study writing survey to uncover the degree of information and comprehension of individuals about fraud. Various course readings, articles and diaries web scan are utilized for this reason. Among these are: a) 50 different ways to ensure your personality and your Mastercard Steve weisman The book is elegantly composed exceptionally pertinent to the examination and very much referenced. Different sorts of personality burglaries were talked about. It likewise clarifies that the thought process behind data fraud could be for monetary benefit, vengeance or malignant goal. The book goes further to propose some security rules, for example, just the charge cards that required ought to be conveyed in the wallet, the act of online record explanation ought to be stick to, individual data ought not be given on telephone to obscure people, destroying archives that containing individual detail after use, etc. Be that as it may, these insurance controls just tended to disconnected wholesale fraud, the issue of online data fraud or fakes which basic to charge cards were not tended to by any stretch of the imagination. b) Business Information framework (Technology, Development Management) Paul, et al The book takes a gander at the issues of data fraud, brand misuse and expenses of wholesale fraud. The three issues talked about are similarly foremost imperative to this exploration. The book is useful for scholarly and all around referenced. As per the book, â€Å"the term brand misuse is utilized to cover a wide scope of exercises, running from offer of fake products, for instance programming applications, to abusing a notable brand name for business gain. It was additionally expressed that concerning wholesale fraud, CIFAS(www.cifas.org), a UK-base misrepresentation anticipation administration, report that there were 80,000 instances of data fraud in the UK in 2006.The covered in the companys site indicated that character extortion cost UK economy  £1.5b in 2005 and produces an income of  £10m every day for fraudsters. c) Identity robbery writing survey Graeme, R.N Megan M.M It is an elegantly composed article and similarly all around referenced. In this article, the writers concentrated on two significant issues, the first is the expense of wholesale fraud while the subsequent one spotlights on the issue of enactments. The two issues talked about are extremely pertinent to this examination. The creators take a gander at different personality enactments went to control the violations of character. (www.house.gov/applications/list/press/ca29schiff/062304idThef2.html). d) Enquiry in to the Mastercard misrepresentation in E-installment Jithendra, D. Laxman, G In this article the writers see charge card Hacking and kinds of Mastercard cheats. This article isn't all around referenced and writers neglected to proffer satisfactory arrangements at end of the conversation. As I would like to think, the article is greatly identified with this exploration work however the wellsprings of archives used to compose the article can't be handily followed on the grounds that it isn't appropriately referenced. Be that as it may, it is useful perusing in understanding the foundation of the point. e) Identity burglary and Mastercard misrepresentation Sarah P. Mill operator Sarah Millers article looks at the different strategies the fraudsters use to submit Mastercard misrepresentation. A portion of these strategies are; opening another credit accounts, existed accounts commandeering, skimming strategy among the other. The article likewise takes a gander at different methods of assurances against Visa extortion and think of some of safety efforts to prepare for charge card misrepresentation in our general public. The article is suitably composed and helpful for this exploration. The wellspring of the article is additionally cited as http://EzinArticles.com/?expert=sarahp.miller . f) Improving reaction time of approval procedure of charge card framework Humid, siti Hafizan Ab It is a diary of software engineering distributed in February 1 2008. The diary talks about the issue of charge card approval process. It additionally clarifies the entanglements and advantages of Visa approval. The diary is very briefs about the theme however all the striking focuses are all around talked about. It gives a site as the main source yet neglect to give o

The positives and negatives towards physical education Free Essays

‘Young kids are taking continuously stationary lives, with physical action frequently being dislodged by broadcasting screening, the internet surfboarding and picture betting ‘ , Myers, Strikmiller, Webber and Berenson ( 1996 ) . Moreover, incredible concern has surfaced for this way of life change as, blending to the World Health Organization ( 2000 ) youth beefiness has risen significantly in the last 10 mature ages. When taking a gander at the school setting, coordinating physical movement or sports is a conceivable organization of bettering the physical wellbeing position of children, Haskell ( 1994 ) . We will compose a custom article test on The positives and negatives towards physical instruction or on the other hand any comparative subject just for you Request Now Fitting to inquire about attempted physical guidance can take to improved subjective open introduction ; Sibley A ; Etiner ( 2003 ) . Research other than gives us that in certain fortunes physical guidance can take to improved joining in and more noteworthy fixation, Hillman, Castelli A ; Buck ( 2005 ) , Shephard ( 1996 ) . With this in head can physical guidance Teach youthful individuals about self-esteem and the benefit of regarding others? This paper will explore the idea that physical guidance can make these things however next to take a gander at the impudent side of the coin and check whether they can hold a negative attitude on understudies. Preceding the general political race in 1997 the work party expressed that ‘Sport can be imperative to the cultural and self-awareness of juvenile individuals and by take separating in highlighting exercises they can larn to recognize great and awful conduct ‘ , ( Crabbe 2000 ) includes that the work party proclaimed that whenever chose they would get down creating including chances for youthful individuals to, ‘help them further a feeling of their incentive to society and help embrace employments of youngster offense ‘ . Without a doubt when chosen in 1997 the Labor specialists began back uping athleticss programs for youthful people both all through school. It is too much ahead of schedule in to the new Conservative/Liberal collusion to cognize how they will back up athleticss programs for kids, as on one manus they have started projects to get down a schools Olympic way rivalry displayed on London 2012, Telegraph ( 2010 ) , yet on the other the have just st arted cuts on open dispensing which is amazingly liable to affect schools. Inside schools, physical guidance is a key constituent of value guidance. Not only make physical guidance programs advance physical action, however orchestrating to Nicholas ( 2004 ) members in such projects are other than appeared to hold improved scholarly open introduction under specific conditions. It is every now and again accepted that sports and physical guidance is cardinal to the early advancement of children and youngster and the achievements got the hang of during dramatization, physical guidance and highlight add to the all encompassing improvement of youthful individuals. Blending to Hendry ( 1993 ) ‘through commitment in games and physical guidance juvenile individuals find out about the significance of cardinal qualities, for example, honestness, just dramatization respect for themselves as well as other people and connection to the guidelines ‘ . Collins ( 2003 ) advertisements it other than gives a gathering to youthful individuals to larn how to cover wi th rivalry and how to get by with both winning and losing. These larning aspects feature the effect of physical achievements and capacities. Estimating the connection between physical guidance and scholarly achievement is a hard endeavor, because of the difficulties of forming and mensurating Physical Education. for example it is hard when the clasp kids spend in P.E each piece great as the nature of course they get changes from school to class. In 2005 a review was led by Grissom ( 2005 ) , of 884,715 understudies in California to quantify the connection between physical fittingness, a marker of physical action and scholarly achievement over the class of a school twelvemonth. Grissom other than included student ‘s financial position and sexual orientation. Grissom ‘s discoveries upheld the nearness of a positive connection between physical fittingness and scholastic achievement. Resulting examinations uncovered that this relationship was more grounded for misss than for male childs and more grounded for the individuals who returned from higher financial confirmations than the individuals who originated from l ower financial foundations. Nichols ( 2007 ) adds to this by saying each piece great as a child ‘s scholarly achievement improving, ‘through physical guidance they other than become familiar with the benefit of regarding others through crew work and rivalry ‘ . It appears to be conceivable that children wining at athleticss at school for example doing a crew or going chief could do a child endeavor more earnestly at different points, for example, maths, English and logical control on the grounds that the feeling of euphoria they get from achieving positive finishes in games could take to the child wanting to make a trip to class. However, take a gander at the impudent side of the coin. The overview above was a speculation. Would the overview accomplish similar outcomes if all the understudies had non preferred physical instruction/sport? Imagine a scenario where a child despises physical instruction/sport or far more atrocious loves the games however is just non acceptable bounty to procure in the crew or nine the individual goes for. There is by all accounts little or no exploration to flexibly grounds on bettering psychological open introduction or larning self meriting for those with less capacity in a sports. One could reason that it co uld hold a negative outcome on intellectual open introduction and classs could get down to drop. The justification for this could be the child could be tormented about his or hers absence of achievement in sports or the child could get down to disdain venturing out to class and going to could drop. In 1985 after a study by Noles ( 1985 ) , he suggested providing physical movement in grade schools dependent on physical action affinities. He states, ‘by offering an expansive collection of movement types, for outline, move, high-impact activities, running and ball games and let children to partake in the action of their pick, you are undeniably bound to obtain children to indict to the full ‘ . This would be on an everyday balance with the purpose of providing standard physical movement and for children to take divide in something they appreciate. This is upheld by the British specialists who prescribe 30 proceedingss of moderate to overwhelming power physical action per twenty-four hours for kids in grade schools and 5 hours for each hebdomad for optional school students, 2.5 long periods of which comes through P.E educated in school and a more distant 2.5 hours finished through after school crews and so forth. ‘Specialist athleticss universities are at the Center of the specialists ‘s plan to elevate juvenile individuals ‘s opportunities to partake in an expansive extent of athleticss each piece great as lifting the measure of guidance and procurement of physical guidance and school games ‘ . ( Youth sports trust 2010 ) . 1997 saw the presentation of athleticss universities as segment of the specializer schools program in the United Kingdom. Blending to ( Sport England 2010 ) these plans permit optional schools to work in certain Fieldss, in this case PE, athleticss and move. Sports universities are intended to build up a seeable ethos all through the school and inside their nearby network which will ideally quicken their researchers to indict in games. Blending to ( master athleticss school standards 2010 ) athleticss universities will, back up the authoritiess yearning for every youthful individuals to hold two hours top notch PE per hebdomad inside and outside the course of study. Take a fitting capacity in the physical guidance, school sports and nines connection. Build up the achievements and misgiving of teachers and do more prominent utilization of new engineerings as a way of raising the nature of guidance and obtaining in PE. Stretch out stipulation and establishments to benefit all researchers of all including capacities, while other than giving those with the best potential, opportunities to achieve the most noteworthy rules of which they are skilled. Work with different schools and the more extensive network to create and partition great example, establishments, human and different assets. Furthermore, in the end are engaged with national endeavors ( for example Venture into Sport ) and rivalries that improve stipulation in PE and games for their ain researchers and those in their life partner schools. ‘Team games in physical guidance and games are every now and again where negative conduct, for example, cheating, disagree towards educators/authorities, winning/losing ungraciously and extreme hostility are regularly displayed ‘ , Shephard ( 1997 ) , this makes a figure of chances for the teacher to disk practices and qualities related to these practices. The general reason for every one of the exercises is for the particular practices joined to every one of the qualities are displayed by the understudies and for these practices to be taken past the field/recreation center. Orchestrating to Shephard et Al ( 1994 ) , there are impossible to miss conditions that should use to every exercise that will make a positive securing condition for values-based guidance. In the event that the accompanying securing conditions are in topographic point the exercise is bound to be a fruitful one: ( 1 ) . Educating way. The teacher ought to be positive about using a dissimilar, youngster focused way. Her/his capacity is one of facilitator and perceiver. The capacity to ponder smoothly the conduct in the exercise is irreplaceable. Conduct that mirror the qualities are alluded to as ‘teachable minutes ‘ . They can be sure or negative outlines albeit positive TMs will in general be more strong than negative. ( 2 ) . A lot of core esteem

Book Riots Deals of the Day for February 11, 2020

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Importance Of The Field Of Education - 1000 Words

Rhonda Howell 12/11/2015 EDF 6480 Last Assignment 1. Why this topic is important to the field of education. School to Prison Pipeline – This topic is important because it effects the quality of education received by students of color and students who identify as a part of the LGBTQ community. It is important for all involved in the education field to be aware of the issues surrounding this topic and the possible reasons as to why students are entering the prison system early. In order to ensure that all students get the education they need and deserve, it is important for educators to remain aware and constantly seek possible answers and solutions to this ongoing problem. 2. Main Points The first main point I gathered from the studies Hope, E., Skoog, A., Jagers, R. (2015). It ll Never Be the White Kids, It ll Always Be Us: Black High School Students Evolving Critical Analysis of Racial Discrimination and Inequity in Schools and Snapp, S., Hoenig, J., Fields, A., Russell, S. (2015). Messy, Butch, and Queer: LGBTQ Youth and the School-to-Prison Pipeline is that students are aware of the negative stereotypes and disparity of discipline assigned to minority groups (students of color, students who identify as part of the LGBTQ community). Students from these groups are aware of the discrimination in schools and other public settings. As these students internalize the systematic oppression (feeling they are treated/disciplined unequally and/or unfairly), their feelingsShow MoreRelatedImportance of College Education in the Field of Criminal Justice656 Words   |  3 PagesImportance of College Education in Criminal Justice Field: The criminal justice field has careers that provide an individual with great rewards and significant opportunities to an extent that the profession is considered as one with the bright spots in employment. Even though education in this field has had a checkered history and past, it probably has a bright future because of the increased quest for quality in criminal justice education. In the past few years, the criminal justice field hasRead MoreThe Key Importance Of Education By Integrating Each Students Chosen Career Field As A Base Value970 Words   |  4 Pagesassigned the third and final Math project in November of 2015. This project included an Excel file assignment, this time focusing on finance and mortgages. The purpose of this project was to demonstrate the monetary importance of education by incorporating each students’ chosen career field as a base value, as well as to point out the advantages of investing in an IRA or 401K plan for retirement. The students were e xpected to make use â€Å"payment,† â€Å"present value,† and â€Å"future value† functions in MicrosoftRead MoreEssay on My Teaching Philosophy594 Words   |  3 Pagesteacher, but because I want to make a difference in children’s lives. I want to become a Physical Education teacher, to teach children the importance of being physically fit and physically active. In edition to teaching the importance of being and staying healthy, I want to give the younger generation the opportunity to play sports. Through playing sports a child may feel a since of purpose or importance. This may deter a life of crime or a drug-abuse. Through being a teacher I want to be a goodRead MoreImportance of Teamwork and Collaboration1014 Words   |  4 Pagesby their love of education and continuous learning. This ultimately manifested in my medical studies and fellowship back in the UAE. My parents, both of whom taught the fundematels of knowledge were based on a solid f oundation of education, stressed the importance of countinuous learning. Certifications and degrees mean nothing with the absence of continuous learning and subsequent application. Therefore, as a result of their influence, I have pursued my medical degree in the field of clinical andRead MoreEducation Is A Way Of Knowledge Acquired, Skills Gained, And Habits Formed1266 Words   |  6 PagesEducation is a way of learning in which knowledge acquired, skills gained, and habits formed are passed from one person to the next via teaching, training, research or simply through auto didacticism. It generally occurs through any experience that has a formative effect on the way we think, feel, or act (Wikipedia). Education is simply learning forms of proper manners and conduct, the process of gaining knowledge, and being technically competent in a specific field. It involves cultivation of theRead MoreEssay on The Importance of Informal Education1390 Words   |  6 PagesThe Importance of Informal Education Informal education has for a long time been considered very controversial in the education world and looked upon as just for entertainment. Informal education is commonly defined as learning that takes outside of formal school settings. Informal education can be things such as field trips to science centers, aquariums, museums, zoos, or planetariums. All of the following places are considered to be informal settings because they are all outside the classroomRead MoreI Am An Educator, One And The Wind And Tossed James 1 : 6 ( King James930 Words   |  4 Pages By establishing one’s core beliefs about the purpose of education, the role of an educator, the interaction of the students, and the importance of teaching chemistry, one builds the foundation which directs one in their teaching career. Having a philosophy of education enables the educator to meet the challenges and remain encouraged, focused, and sustain them throughout their educational profession. According to Noah Webster, education â€Å"comprehends all that series of instruction and disciplineRead MoreThe Industry Of Higher Education977 Words   |  4 PagesThe Industry of Higher Education The overarching industry of higher education encompasses a variety of different disciplines which impact people every day. Although people do not always realize the extent of this impact, professionals working within the field of higher education are the educators of the future. The industry of higher education produces a continuous feedback loop of communicators, teachers and mentors in educating the preceding generation of students. As our society continues evolvingRead MoreThe Career Of Orthopedic Surgery1692 Words   |  7 Pagesof utmost importance to the entire medical field and health in general. Orthopedic surgery is the field of medicine involving the rearrangement, repairing, and mending of bone marrow and skeletal structures within the human body. Normally, students pursuing a career in orthopedic surgery must complete a vigorous, extensively designed course of education needed for certification. Once finished with education, orthopedic surgeons will have completed appro ximately 14 years of formal education. This careerRead MoreObserving And Recording Development And Behavior Of School Age Children Essay1220 Words   |  5 Pagesfrom my education, previous work experiences, and my upbringing. I am someone who values collaboration and is not afraid to ask for suggestions and feedback from colleagues. I find feedback from fellow colleagues crucial and beneficial because it allows me to reflect on what I’m doing and how I can better myself as an educator. I am a critical thinker, who analyzes what I learn and applies it to my work. Collaborating with other educators also sets the example for students of the importance of professional

Poetic Forms

Blindness of Prejudice †to Kill a Mockingbird Free Essays

Everyone forms first impressions about others, but to act upon these early impressions as definite conclusions about other people’s characters is the beginning of the unfavorable trait of prejudice. In Harper Lee’s story, To Kill a Mockingbird, a young girl, Scout grows up in the small, southern town of Maycomb, Alabama, where prejudice is heavy. Being a secluded community, rumors fly around rapidly in Maycomb, creating warped and exaggerated stories of the targets of the gossip. We will write a custom essay sample on Blindness of Prejudice – to Kill a Mockingbird or any similar topic only for you Order Now Harper Lee demonstrates through the causes and sources of the discrimination that prejudice is derived from appearances as well as influences from other people. Harper Lee uses Jem’s prejudice toward his neighbor, Boo Radley to illustrate that discrimination branches off of other people’s opinions. Scout discovers two pieces of chewing gum in an oak tree on the Radley lot one day, while coming home from school. When her brother, Jem realizes where she obtained her prize, he screams, â€Å"Don’t you know you’re not supposed to even touch the trees over there? You’ll get killed if you do! † (45). Jem’s prejudice toward Boo is based on the rumors, stories, and opinions he has heard from other citizens of Maycomb. Despite the fact that he has never seen, let alone met, their reclusive neighbor, Jem still speaks badly of Boo. He discriminates against Boo because of what he has heard, rather than what he has experienced personally. In addition, Harper Lee reveals through the white jury’s discrimination toward Tom Robinson, a poor, crippled black man, that appearances are a major factor contributing toward prejudice. While sitting in the courtroom, during Tom Robinson’s trial, Scout observes the jury and realizes that â€Å"All [Mr. Ewell] had that made him better than his nearest neighbors was†¦ his skin was white† (229). Race and skin color are huge contributors to prejudice in Maycomb. Black people are considered to be of lesser value than white people. Despite the fact that the Ewells live under terrible conditions and have no manners or morals, they still manage to receive much more respect than any black person would warrant. Similarly, Lee demonstrates racism based on first impressions through Lula’s ignorant ideas of Jem and Scout. Calpurnia, their black maid, decides to bring Jem and Scout to the black church one day, where they are met by Lula, a black woman, who angrily declares, â€Å"You ain’t got no business bringin’ white chillun here – they got their church, we got our’n† (158). Lula’s views of white people are similar to the views white people have of black people. She is discriminating against Jem and Scout due to their appearances and skin color. Her ignorance creates a rift right away between her and the two children before she allows herself to know them better personally. By emphasizing the reasoning of those who are prejudiced toward others, Harper Lee ultimately reveals that prejudice is motivated by not only appearances but also opinions absorbed from other people. Throughout the novel, there was not a single circumstance where a person discriminated against another because of what they had seen or experienced. All cases of injustice were derived from at least one of many things: first impressions, physical features, rumors, etc. Lee’s morals leave a lasting impact on the readers. Prejudice will only end when people stop themselves from acting upon their pre-formed ideas of others. How to cite Blindness of Prejudice – to Kill a Mockingbird, Essay examples

Management Definition

Abstract Traditionally, management involved planning to have tasks accomplished. It also involved organizing the company to promote effectiveness and efficiency, motivating the employees and controlling to ensure that the organizational goals are met. This has been the standard management procedure that has been used by most corporate organizations.Advertising We will write a custom essay sample on Management Definition specifically for you for only $16.05 $11/page Learn More However, the 21st century has introduced a new work place in which every individual in the organization participates in the management process. Today’s society is constantly changing its demands and opportunities, thus there is no standard procedure for approaching business. Managers have shifted from the management position to become leaders who influence teams to complete the tasks ahead. The definition of the term management is diverse, and depends on each organizationâ₠¬â„¢s practice. Introduction Management is a difficult term to define because the world has become very dynamic. Leaders require continuous transformation and innovation to keep up with the changing demands. It does not have a standard definition since different organizations apply different practices to achieve organizational performance. While in the past management was more concerned on the conversion of input into output at a low cost, today emphasis have also been put on ensuring that consumer needs are met (Dyck Neubert, 2010). This paper will discuss on the various dimensions in the definition in management. Management Today Organizations are no longer structured and managers often find themselves attending to non managerial jobs where no one reports to them. This is due to the continuously changing nature of work and organizational demands. For a manager to have things done through people, he/she has to work amongst the teams so as to influence them. In such a scenario ever y individual works towards the defined goal including the manager. Today’s manager not only employs managerial skills in work but also gives a human touch to the tasks by involving employees. Working alongside the employees enhances flexibility and promotes teamwork. Fredrick W. Taylor introduced scientific management in which there is one best way for accomplishing each task. This is applicable today. However, in today’s management there is room for employees to apply innovative changes that improve their performance. Max Weber argued that bureaucracy makes everyone accountable for the activities that happen in the organization, today this has been enhanced by creating a sense of responsibility among the employees. Teams encourage employees to work towards a similar objective thus supervision roles have decreased tremendously (Reenen Bloom, 2010).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Today the market is driven by consumer needs, therefore management performance is determined by the level at which the market needs are met. The change in management goals has resulted into a flexible work environment. Change has also been used by management as a way to gain a competitive advantage. Today management encourages employees to bring innovation into the organization by thinking, feeling or doing something different from the norm. Innovation does not change an organization’s past patterns but gives an extension to what already exists. Based on this, management differs from one organization to another due the existing culture and how this culture is enhanced. One organizations managerial practice may differ from the other depending on the decision making power given to employees. Therefore, a standard management practice does not exist in the modern work environment. Organizations are interested in meeting their organizational goals while stayin g ahead of the competition. The manager’s task is to utilize each employee’s strengths and knowledge to produce better results (Keller, 2011). In the modern economic times, business value is defined by the employees’ knowledge. Unlike before when workers represented undifferentiated groups who waited for the managers to give them tasks, today managers simply define the roles. This gives the employees the freedom to choose the best approach to deliver results. Therefore, today directing has been given another approach which addresses a knowledgeable worker. The role has advanced to include nurturing skills, developing talents and inspiring results. Defining this new role in management is difficult because different employees have diverse knowledge and needs. One employee’s needs are completely different from another’s yet it’s the same manager who serves both employees (Dyck Neubert, 2010). Managerial roles have been changed by globalization ; there are more opportunities and challenges that come with international business. The workforce has become very diverse expanding the managerial roles to include uniting people of different backgrounds. They are presented with the task of learning, adopting and facilitating change in the teams. This involves gathering knowledge and sharing it with the aim of improving organizational performance. This is a process which cannot be defined in the management functions since it is a continuous process whose approach depends on the setting. Management has been modified to fit the changing societal and specific organizational needs hence difficult to define (Reenen Bloom, 2010).Advertising We will write a custom essay sample on Management Definition specifically for you for only $16.05 $11/page Learn More Conclusion Management has shifted from the traditional roles whose main goal was to deliver results efficiently. Today organizations attach value to the quality of products and services provided. Effective and efficient production is not enough. Performance is defined by the level of customer satisfaction. This means that the employees and the managers have a similar task which is to satisfy customer needs. Management has become a continuous process specific to each organization. It concentrates on developing employees to increase knowledge, skills and develop talent with the aim of improving productivity. Management definition is relative to each organization since processes and procedures are unique in each organization. References Dyck, B. Neubert, M. J. (2010). Management: Current practices and new directions. Boston, MA: Houghton Mifflin. Keller, G. F. (2011). Comparing the Effects of Management Practices on Organizational Performance Between For-Profit and Not-For-Profit Corporations In Southeast Wiscnsin. Journal of Business Economics Research, 9(3), 29-38. Reenen, J. V. Bloom, N. (2010). Why Do Management Practices Differ Across Firms and Countries? Journal of Economic Perspectives, 24(1), 203-224. This essay on Management Definition was written and submitted by user Izabelle E. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.