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Management Fallacies You Must Understand

When it comes to self-improvement and understanding your professional level, it is better to be ignorant than filled with misconceptions. Ignorance can be overcome with proper research and experiential learning. However, if you are exposed to certain misconceptions that you believe are true when they are not, this can significantly hamper your basic understanding of the profession. In his article for Digital Tonto, Greg Satell talks about several management myths that should be logically understood and unlearned.

Myth #1: The Global Village Is for Greater Good

Different technological advancements have transformed the world into a global village. In today’s world, the market has become significantly inclusive. You can sell, buy, or swap anything you want, and your market is not restricted to any geographical region. A good proportion of people believe that globalization has brought them together, where they can get to know other cultures and have better exposure to different markets.

However, Marshal McLuhan, in his book ‘Understanding Media’ states that globalization would lead to the “release of human power and aggressive violence.” The world is inherently a competitive space, where you want to get the best for yourself no matter how. Such ideologies lead to vulnerability exploitation. Considering today’s scenario, all are at significant risk regarding their identity, personal information, and financial assets because all the necessary information is available online.

Myth #2: A Talented Workforce Assures Success

In 1997, three McKinsey consultants published ‘The War for Talent’ that stated that a talented workforce is far more crucial than capital, strategy, and R&D. The book was widely read by business owners. Many of them agreed with its idea. Some companies, like Enron, started prioritizing the recruitment of the brightest minds for their companies, and that led to its bankruptcy.

Myth #3: The Engineer Mindset is a Wide-Ranging Solution

In his work ‘The Principles of Scientific Management,’ Frederick Winslow Taylor talked about implementing a disciplined approach in the management sector. He emphasized companies finding one specific way of getting things done and training the workforce accordingly. Greg Satell negates this idea saying that our success depends more on the connection between the teams rather than what individual professionals do.

One of the lessons you should take from this is that you should not believe everything you hear. A talented workforce is undeniably a true asset to a company, but hiring only leaders does not get things done. In a room full of leaders, you would observe a lot of disagreements, conflicts, and unbelievably low productivity while getting a task done.

Click on the link to read the article:

https://digitaltonto.com/2021/3-management-myths-that-we-desperately-need-to-unlearn/

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