Process Improvement Plan: Risk Assessment

Management theories

Student’s name

University affiliation

Management theory basically refers to a collection of ideas which set forth general rules on how to administer a business firm (Reveley-Mahan, 2012). In this case, they are various theories that can be used in order to increase productivity and quality of services in an organization. This is because the main aim of business control is to find the most appropriate ways of conducting operations. However, each business independently employs different theories, which determines the approach and most important long-term and short-term objectives. For example, a successful management theory provides a way to coordinate various departments in an organization. In this case, I would use contingency theory in developing the new process of my security firm.

In this case, I would use contingency theory which is based on the idea that no single answer and that the choices depend on numerous factors (Moon, & Woolliams, 2000). For example, in a business set up there are likely to be changes based on economic, social and politic factors. In this case, an organization according to this theory should consider all facts of a situation when making decisions. As a result, I will embrace this approach to develop my financial firm. Contingency theory is beneficial since it’s diverse and a leader using it may decide an autocratic or hierarchical management system when dealing with security issues. It is appropriate because based on its idea that there is no one way to manage an organization, it can increase efficiency in a firm security. This is because there is need to evaluate each incidence and make unique decisions those situations. Further, the theory encourages managers to think about the implications of a decision as it relates to the entire organization. In addition, the theory also enables managers to make decisions bearing in mind culture, the safety of employees as well as customer service attitudes of the entire organization.

References

Reveley-Mahan, N. (2012). SWOT analysis. Retrieved March 15, 2015 from the Knowledge Sharing Toolkit Wiki: http://www.kstoolkit.org/SWOT+Analysis 

Moon, C. J., & Woolliams, P. (2000). Managing cross cultural business ethics. Journal of Business Ethics, 27(1/2), 105-115.