GLOBAL CHALLENGES FOR BUSINESS, MANAGEMENT AND LEADERSHIP Essay - 1

GLOBAL CHALLENGES FOR BUSINESS, MANAGEMENT AND LEADERSHIP - Essay Example Firms are essentially focussing on improving their management practises in an attempt to improve their business processes. The competitive value framework is a model that essentially helps business organizations to generate competitive advantage by enhancing the value proposition of the organization. The model named as one of the most essential and effective business models was proposed by Quinn & Rorhbaugh in 1983 (Competing Values Company, n.d., p.1). Figure 1: Competitive Values Framework According to Koontz & Weihrich (2006) management is defined as â€Å"the process of designing and maintaining an environment in which individuals, working together in groups efficiently accomplish selected aims† (Koontz & Weihrich, 2006, p.5). ... Internal factors largely include the internal strengths, weakness and opportunities of an organization and are largely associated with the operational and process management practices. External factors on the other hand include the political, legal, economic and sociological factors and help generate an impact for the organization. Relational perspectives include the interpersonal elements of inter group relationships while the empirical elements includes the internal business processes for collection and integration of information handling and management. Political and relational elements denote flexibility and stability while the rational and empirical elements ensure control and stability in a business organization (Schuman, 2010). The combined effect of all the above elements or factors determines the nature of effectiveness of the business strategies adopted by the organizations. Each element represents a set of core values of the firm that are largely distinct from the rest of the others. They show the extent to which an organization tries to be flexible and adoptable to the business environment while maintain an internal stability in the organization. The importance of this model in the present day business environment of turbulence can be easily noted from the fact that it largely helps in displaying the pros and cons, the opposing as well as supporting elements of the business strategies and the nature of alternatives before an organization that can largely help in maintaining profitability and adaptability while maintain an overall stability in the business processes and the organization (Cameron, 2009, p.2-3). Application Organisation Name and Challenge The organization selected for the present study is