Management Models

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Assessment Task One | Understanding the First Five Topics Competing Values Framework & The 4+2 Formulae The Competing Values Framework and the 4+2 Formulae are models that represent the management research perspective of balancing outward and inward development, and how important the equilibrium of both areas is, in the success and continued success of a business. The Competing Values Framework has been developed over 100 years of theoretical management models, with with each era having developed its own theories and practices born out of the period’s socioeconomic conditions. The Competing Values Framework is split into four main quadrants which reflect the four main periods of prosperity and economic challenges. The quadrants reflect the period’s dominant philosophy of management and represents the relationship within management, in regards to the degree of control and whether that control is projected internally or externally. In the extended research, the understanding of an inverse relationship of competing values has developed into an integrated management model. The inverse relationship between values represents the ‘push-and-pull’ of a successful management concept. The balance of each idea or value keeps the entity open to development of new concepts but also retains the checks and balances and inward efficiency. The CVF represent a dichotomy of management values that in equilibrium are highly effective. In contrast to the Competing Values Framework the 4+2 Formulae was developed though the study of 160 companies over a 10 year period working with 50 academics and consultants with well recognised research tools. Their study of these companies was to determine what made them successful or what made them fail. The research into these companies was retroactive, starting starting in 1986 and selecting a variety of businesses with similar scale, scope and financial means. The 4+2 formulae is a structured two tiered model, with the main principles of business; Strategy, Execution, Culture and Structure and the selection of two secondary business practises; Talent, Innovation, Leadership and Mergers & Partnerships. The 4+2 Formulae is a representation of the best practices of a successful business, it outlines the core components and practices these companies developed to become successful. This is formulae representation of a ‘recipe for success’. The formulae expresses that concept of the four main core values of a business and integration of a pair of focused expansion concepts into which new prospects can be developed. The difference between the research of the Competing Values Framework and the 4+2 Formulae is shown in how different the concepts are. The CVF is a consolidation of four management models built over the last century and expresses the careful balance in values that lead to success. The concept of this framework is to express the sensitivity of a business in the amount of control applied and the balance of further growth with management of efficiency. The research of the CVF also focused on the models of management and the theoretical concepts of each era, developing and contrasting each theory with the next to develop a diverse understanding of the paradigms in which management is based. In contrast to the 4+2 formulae which focuses on the growth or recession of a business though it core business practices and varying practices in growth. The 4+2 formulae is structured to be set of core values with an integration of two secondary business practices primarily focused on growth. The research into the companies showed that the each successful company excelled at the four core practises and incorporated any two of the secondary. In summary the research of each model differs in that one focuses on model and theorem based argument (the ideas and concepts of business) and the other focuses on the execution of core values and the incorporation of secondary growth orientated practices (the application of ideas)....
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