Session-4

 Session-4 ;

27 Oct 2021

The discussion started with an intriguing question: " Is management science or art? " Most of us would get confused regarding this question because management displays the features of both science and art. Hence it was concluded that management as an art and management as science are mutually exclusive but competent to each other. The application/practice of management is an art, however, managers can work better if their practice is based on principles of management. These principles constitute the science of management. Furthermore, through the example of Godrej Chotukool, we understood the concept of Disruptive Innovation. Disruptive innovation refers to the innovation that transforms expensive or highly sophisticated products or services—previously accessible to a high-end or more-skilled segment of consumers—to those that are more affordable and accessible to a broader population. In other words, the innovation that occurs which disturbs the stable conditions in the market is called disruptive innovation. So the Godrej Chotukool was invented to cater to the lower-income families as it was battery operated and was able to carry out the features of the refrigerator in a cheaper way.

Following this, the students were given a small case related to Mc Donald's and it'd Drive-Thru. The managers tried every marketing strategy to increase the sale of Milkshakes but failed to do so. A consumer survey was conducted by Clayton Christensen and his team to find out the reason. The reason was found out, taken action upon and the sales started picking up again. Hence it is not always about management but also discussing the products with the customers, taking their opinions into account and moving forward together. In today's modern era, where everything is constantly changing, the manager's job is also changing from different perspectives. One of the most important changes is actively listening to their customers because without them the organisation would cease to exist. Next in the line would be technology. It can be in the form of getting customers familiar with the technology of the products or influencing the customers through social media campaigns. Focussing on the employees is of the organisation equally important for a manager. This is because the employees are more likely to invest in the work they do which leads to a higher quality of work produced. It is also a reflection of the work the manager has done.