Managers learn better from experience or theory Essay

Managers learn better from experience or theory - Essay Example Hence, management development programmes are conducted by organisations to update the managers on any new managerial behaviour. In the competitive environment managers often have to face difficult situations in the workplace. To handle such kind of situations, it is extremely important for the manager to have sufficient knowledge backed by theories and prior experience behind him. But in the most difficult situation, bookish knowledge will help to some extent and practical experience and instincts of managers will become more effective in handling the situation with utmost care. But the importance of theory cannot be underestimated since it is the theory that will show the path for the manager, and the experience will pave the path. An organisation also needs to look at educating the present managers. It is expected that whatever may be their formal education requirement, it will not be able to meet the job demands during their tenure in the organisation. Hence, providing continuing education for the managers is important. Learning by doing matters for professional investors. Most of the organisations today believe in ELT, or experimental learning theory, which has been the foundation of management learning over the years. It has been seen that there have been improvements in the efficiency of the output produced from the existing technologies, though the inputs remain the same. It shows that inputs are an important determinant of total productivity. So the organisations have started realising that ‘on-the-job-training’, or learning by doing, is as important as formal education received, which forms the base of human capital. Discussion Every practice by managers is based on theory itself. Management theory gives an overall view of managers’ role and the competencies which the managers need. It acts as a guide to understand the process to help the managers learn (Mailick and Stumpf, 1998). But management practice is more specifically concern ed with task selection and performance delivery, which defines the manager’s contribution to the organisation. Management practice basically utilises management theory to help managers determine the process which they need to follow in specific situations (Bell and Goldsmith, 2013). Every manager has their own way of handling things, which they might feel is the optimal and efficient one. But the real world does not go by that logic. It is only when they are faced with real world solutions that they realise that they need to change their strategy to come out with new solutions (Levitt, List and Syverson, 2013). For example, a sales manager must be able to handle the team under their leadership. Team dynamics is the most important factor which they cannot neglect. Team dynamics will vary with the composition of members in it. Each team has to be handled differently. Experiential learning theory (ELT) gives a holistic model of the learning process. Learning is best viewed as a process, not as an outcome. Hence, improving the performance of managers by engaging them will enhance their learning and performance. All learning is re-learning. It is a process through which the manager’s beliefs and ideas about a topic can be examined, applied and integrated to form more new refined ideas. Learning is a holistic process of adaptation. It involves the integrated functioning of thinking, perceiving, feeling and behaving apart from cognition. Learning is

UK Brewing Industry Assignment Example | Topics and Well Written Essays - 2000 words

UK Brewing Industry - Assignment Example It is irrefutable that the brewing industry and its market in UK have significantly changed over the years. It should be noted that most of the common assumptions and preconceptions of manufacturers about their distribution channels and consumer preferences are now obsolete. Thus, Coors Brewers Ltd. (Coors) needs to institute a change of strategic directions in order to account for these important developments and trends. This report generally aims to identify the various future strategic options for Coors. The first section will conduct an environmental scanning which will examine the different changes in the market of the business organisation. Secondly, this report will briefly outline its recommendations on how Coors can further enhance its performance by using its strengths and core competence to take advantage of the opportunities in the UK market. These will be conducted through the use of strategic management tools specifically the Ansoff Matrix. The market for alcoholic drinks is a very important sector in the UK market. It should be noted that the brewery sector generates more revenue than the other large industries like clothing, motor vehicles, tobacco, and confectionary. However, there has been a decreasing trend in alcohol consumption within UK households. It also noted that the traditional beer consumption in public houses is now overshadowed by the increasing consumer preference to consume brewed products at home as this is perceived to be more socially acceptable. The major trends in the UK brewing industry are identified as follows: "there is a growing female and mixed group influence; going to a public house is a leisure activity; consumption is often driven by occasion and events in both on-and off-trade; premium beers are becoming an important sector; there is wide choice of outlets; and there is a wide choice of brands." In addition, it should also be added that breweries which compete with Coors are now dismantling their previously owned public house estates. The younger generation also has the inclination to lagers which is a high profit segment for brewers. These diversions from the traditional market conditions posts many strategic options for Coors and other players in the UK alcoholic drinks market. The Ansoff Matrix The Ansoff's Matrixis a tool in strategic management which is utilised in order to aid in deciding the product and market growth strategy of a company. After its publication in the Harvard Business Review in 1957 in an article entitled, 'Strategies for Diversification,' this strategic management tool has gained wide popularity and recognition in the marketing world. Ansoff Matrix is specifically useful for business organizations which have growth objectives. Ansoff's product/market growth matrix suggests that a business' attempts to grow depend on whether it markets new or existing products in new or existing markets. Four strategies are generally prescribed-market penetration, market development, product development and diversification. Market penetration is a company's strategy which aims to serve current market with its existing products. With this growth strategy, the company aims to increase