If one has involved in company management, he might have learned that there are 3 important resources of company management. i) People (basically employee, or Human Resources), ii) Products, and iii) Money (Fund, Capitals, Expenses, or Spending)
The resource can look like a triangle. They are interactive each other. It goes without saying the importance of people for business. It is quite self-explanatory model, including money and products. Now these Management Elements are changing to be "5 Management Elements" instead of basic 3.
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One needs to understand the following 5 elements of management and make use of them, in addition to legacy 3 elements. 4th is "Information". 5th is "Branding". Now the elements look like satellite system. Center, like the Sun, is "People". Satellite planets going around the "People" are "Information", "Branding", "Products", and "Money".
Obviously, 5 elements model replaced 3 elements, since no one can ignore the power of "Information", through Internet. Branding is no longer only for a big organization with a lot of money. People can easily band themselves through broadcasting tools in Internet. In this way, the importance of "People Elements", namely Information and Branding, are increasing in management and marketing models. People do not have to spend large amount of money for Information and Branding. The ones who can manage information and brand will win the next game.
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The difference, from the traditional 3 elements model, is "People" is not sitting on the top of other elements, but accessing and utilizing all other 4 elements. "People" is not necessarily the master. They are still the center of all the elements. Instead of "People" are equally positioned in legacy 3 elements model, in the new model, "People" is the center and access all other elements. In the period of change, "People" element increases its value and importance, gaining more tools and resources.
Read this Article in EzineArticles.com:
http://EzineArticles.com/5222020
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