Nowadays, competition among businesses is soaring and companies are working hard to satisfy customers in every possible way. For that reason, many companies are ensuring that the information flow, whether internally or externally should take place without any hindrance. For that reason, many business firms are adopting Matrix Organization Model for managing their resources efficiently. For achieving that goal, these companies deploy best technological tools for speeding up the work process.
Importance of Matrix Organization Model
A reputed talent management organization of the United States conducted a research in the past and it has found that many companies are following the Matrix Organization Model for enhancing their competencies. Determined for getting closer to customers and becoming more innovative and agile, global giants like GE and IBM are implementing this model for raising productivity as a whole.
But, the transition for adopting this model is not so smooth. In matrix organizations, managers or business leaders have to face many challenges like managing international, cross- divisional teams over whom they cannot exercise their influence totally. You will find that skills that are required for effectively navigating the matrix are different from those, which are required for managing the old, hierarchical organizational model.