Current Management Opportunities and Challenges in the Software Industry

Through the past 30 years the world went through a very lively technological transformation.

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In fact, it can be said without exaggeration that the emergence of digital devices and the Internet have significantly impacted daily life as well as managerial practice to an unforeseen extent. The computerization of numerous business processes as well as the production of large scale databases, among many other radical technological advances, have lead to huge cost savings and quality enhancements through recent years. The interconnection of financial markets via electronic means and the global adoption of the Web have significantly reduced transaction and communication expenses and attracted nations and cultures closer to one another than ever imaginable. Computers are now basic tools in virtually all companies around the world and their adaptation and application to specific business problems in the form of applications development is a practice that many companies perform on their own. In the past, these computerization and automation efforts were rather expensive and therefore simply practiced by big corporations. Over time, but the software industry appeared to provide off-the-shelf solutions and services to smaller companies. Today, having endured the massive dotcom crash of the calendar year 2000, software development businesses established themselves as powerful players in the tech market.The development of numerous computer standards and technology has created several challenges and chances. Among the main opportunities offered by the software sector is comparatively low entry barrier. Considering that the software business is not capital intensive, successful market entry chiefly depends upon know-how and specific industry domain knowledge. Teachers with the right skills can quickly compete with big corporations and thereby pose a substantial threat to additional, much larger associations. This relatively strong position of software personnel challenges human resource plans in organizations and in addition, it raises concerns about the security of intellectual property.The relatively young sector is blessed with absolute unlimited new opportunities, such as the ability of companies to collaborate with other businesses around the world without interruption and incur virtually no communication expenses. The effective management of these dynamic organizations challenges today’s supervisors in addition to contemporary management science because traditional management styles, for example Weberian bureaucracies, appear to be unable to cope with unstable environments.Challenges in the Software Industry Typically, jobs are only 62% effective, which translates to a waste of 37%. The typical software development project has the following distribution of work effort: 12% planning, 10% specification, 42% grade control, 17% execution, and 19% computer software construction (2003). There are many possible interpretations of the nature of the distribution of resources. To begin with, the extraordinarily high share of 42 percent for quality management purposes can indicate a lack of criteria and standardized labor practices. This large waste of effort may also be the consequence of unsuccessful planning and specification processes. Because the share of 19% for software construction is a purpose of software complexity, hardware, and resources used, there’s a chance to decrease it by carefully managing and standardizing internal work processes. The disappointing share of only 17 percent for implementation, however, should be alarming to company owners, since execution actions are the chief action that leads to revenue. Considering that a large software project, for example Microsoft Word, is reported by Microsoft to need 2 to 3 million lines of code, it will become obvious how expensive such projects can become and that productivity and quality management are important concerns to today’s software companies. The challenge for contemporary software managers is to discover the root of the expansion problem and also a remedy in the kind of a management clinic.A plethora of recent research addresses software development productivity and quality concerns. What’s more, the researchers put partial blame on prevailing organizational cultures, which may lead to counterproductive work habits. Of the main problems identified, project documentation has been found to be lacking because documents are deficient in detail rather than updated regular enough. Quality control in the form of software testing isn’t practiced as frequently and there looks like a scarcity of quality assurance processes to ensure that applications is built with quality in mind from the start. Organizational culture was found to be deficient in companies were workers tend to avoid confrontation and so avoid product evaluations entirely (2007).Since knowledge workers are the main drive in software associations, developing a fruitful and efficient organizational culture constitutes a most important challenge to today’s managers. The relationship between organizational culture and quality and productivity in applications companies was recently investigated by Mathew (2007). Software organizations have a tendency to be people-centered and their dependence on knowledge workers can also be represented by the tremendous spending remuneration and benefits of over 50% of earnings. As the business matures and develops further, the obstacle to associations is that larger number of workers will need to be handled which brings civilization to the attention of management. Mathew (2007) found that the most important influence on productivity was achieved by creating a feeling of mutual confidence. Higher levels of trust lead to higher worker freedom and empowerment, which strengthened the existing management view that trust and organizational effectiveness are highly associated with Those businesses with higher confidence and empowerment levels gained from more intensive employee participation and thereby attained better quality products (2007).Item quality, however, depends upon other factors as well that reach beyond the discussion of work processes. Constant turnover and succession increase project completion expenses, cause considerable flaws, and expose association to higher risks because their growth processes can be seriously disrupted. While human resources plans should help find strategies to retain key personnel in the business, organizations will need to nevertheless be ready for turnovers and reduce their risks. One of the greatest dangers for people-centered, knowledge employee organizations is the loss of knowledge when employees depart.Knowledge management has evolved into a relatively new discipline in the last two decades but is largely practiced by large, global organizations only (Mehta, 2008). As corporations realized the significance of knowledge management activities to mitigate the probability of know-how reduction within their associations, they started applying chief knowledge officers and crews with the goal of collecting and coordinating data. By building custom knowledge management platforms, companies can gain from increased transport, storage, and access to critical business information. Such activities can help companies innovate and build knowledge funds over time (2008). The challenge remains, but to install such systems and to elicit employee support for knowledge management methods. In addition, these systems render another crucial question open. What occurs when top actors take all of the knowledge with them when they leave?