This new system of Business Governance is more based on the democratic system of governance. Holography ideally is well suited for small well knitted organizations such as not for profit organizations but of late this system of business management seems to be adopted by Larger organizations and we may not be surprised if in the coming days will be the most preferred system of management due to the mere fact that it engages all members of the workforce and stimulates their mind to think like executives and motivates them.
SYSTEM AND GOVERNANCE UNDER HOLOGRAPHY Holography as mentioned before emphasis on the fact that decisions are made by particular normal workforce who have a certain degree of expertise in the field and are well adaptive to the ever changing business market that have been exposed to the world. Multinational companies have to be well aware Of all changing government policies as well the new tastes of the customers. Holography is more sort of a self-governing system of business where powers are not centralized and are flexible.
Equal importance is to be given to the fact hat a capable person can hold and perform various roles that the most fruitful outcome. These roles are collectively performed in circles that are to a certain extent self-organized With efficiency in mind. These circles page | 1 have the right to conduct their meetings as well as elect their capable members for projects. This in return creates their domain of authority and governance. What one needs to bear in mind though is that these different circles are interconnected and dependent on other circles of a role for the end product to be fruitful.
The business processes are variable created to et the business, and operational requirements and each member with various specific roles have specialized duties and need to be fulfilled in a systematic and efficient manner. PERSONAL EXPERIENCE During my medical experience days back in Nepal, Katmandu, I was assigned to a task by the Red Cross and The Lions Club to conduct medical tests and come up with reports in regards to the general health of the citizens living in the rural area.
Though ours was not practically a large organization, we constantly had to switch role and wear different thought hats on so as to mom up with a most concrete and accurate report. At the same time, I being the doctor in the team also had to work as a logistics personnel whereby giving me the opportunity and the role of the person in charge of the travel and accommodation facilities. Other members in my circle were in charge of the accounts and finance as well as the field knowledge expertise so as to make sure that were on the correct path to the rural areas we were assigned to.
To be honest, I was completely unaware of this system of governance until coming through this topic and realizing that we had a similar system where e shared the decision-making. LINEAR PROGRAMMING Linear programming is a known mathematical method used to achieve the best outcome as, in this case, to decrease cost by calculating the linear relationships between the unknown X and Y quadrants. This system examines and calculates the X and Y values for the best option available which shall yield the best known outcome which is to reduce page | 2 cost and utilize the option that will have the nearest value with optimum output.
This system in simple words aims to achieve Profit Minimization and Cost Reduction. However, the limitations of this system of linear programming are its variables known as constraints and in this case are the X and Y variables which requires having values greater than or equaling to O due to the fact that different business decisions have fixed requirements that have to be met for the outcome to be produced.
Very often, these requirements may be difficult to be achieved in one instance, and the option that may not be the best but near to it may be taken on board by management. With the economy and the world markets always changing and to being stable, every management needs to bear in mind that such mathematical calculations and methods are a necessity to reach the intended and required goals and budgets which are cost effective and outcome focused.
Once again during my medical experience when the economy was not strong back home in Nepal, the hospital that I was working in was in a dire economic situation as the cost of medicines and costs of overheads were going high. Therefore to provide the best medical and general health care to the customers and the general public, the management had to come up with a session that was cost effective bearing in mind the business sustainability of the hospital.