RT Vol XVI: Generations: Ch 7
From the Book: The Refractive Thinker® Vol XVI: Generations: Strategies for Managing Generations in the Work Force


Summary

Since 2010, a new paradigm of management dawned on many organizations around the world, as they face rapidly changing business realities and overwhelming availability of data (Finch, Goehring, & Marshall, 2018; Saghiri at al., 2018). Essential considerations of the new approach to management are the taming of information chaos to advance business efficiency and mitigate decision challenges, by addressing difficulties in discovering and connecting knowledge to formulate solutions for management tasks (Akpakpan, 2018). The nature of this new paradigm requires the active cognitive enablement within the organization, therefore, named the cognitive paradigm of management. Within this new paradigm, tasks of management, for example, budget planning, demand estimation, pricing, resource allocation, medical treatment planning, and many others, connect to the underlying data such that the steps, decisions, and other information requirements of the tasks are transparent enough to program support for the manager (Gupta, Kar, Baabdullah, & Al-Khowaiter, 2018). Algorithms, automation, and artificial intelligence are the key artifacts that underlie this cognitive enablement (Caputo, Cillo, & Liu, 2019). These artifacts work together to capture or gather data from multiple sources, integrate data, run the analytics, transform the results into action options, evaluate the options, and learn from the choices made to achieve defined outcome expectations (Kasemsap, 2018; Nissen, 2018; Chang et al., 2016). A significant problem facing this paradigm is that the investments companies are making fail to deliver the intended result in as much as 50% of cases costing businesses as much as $2.7 trillion in 2016 for companies in the United States (Akpakpan, 2018; Amankwah-Amoah & Adomako, 2019, Gartner, Inc, 2016). Using the refractive thinking approach to analyze the cognitive paradigm of management illuminates the challenges of the underlying digital transformation efforts and highlights the proposals to resolve them with information solutions like analytic extensions of data models for cognitive modeling, and generational diversification of the executive suite and top-management ranks at organizations.
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