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PRINCIPLES OF MANAGEMENT (CCIS)
DIS 1
Describe how you will use the four management functions to create value in a given organization. Discuss the importance of technical skills, conceptual skills, and interpersonal skills. How could you use any of these skills to manage both the internal and external environments? Your examples can be either from your personal or business world. The four important functions of managers include planning, organizing, leading and controlling. The three important skills are namely conceptual skills for strategic planning, technical skills for operational and interpersonal skills for building sustainable. In any organization, functions of Managers are the numerous. Being a manager, I will plan the timetable and create a plan of getting things done with all the vital facts. In organizing function, I will coordinate various activities of work and ensure it is done according to the plan. In staffing role there is need grouping of people into varied teams and apportioning varied tasks to them. Being a leader also have to direct employees to motivate them to execute their work in line with the overall objectives of the organization. Last function is having the entire thing underneath control for effective execution of work. Technical skills are more significant for junior managers as they spend extensive time period training and clarifying subordinate’s concerns. Operational direction and management depends upon the technical expertise possessed by the manager lower level. Interpersonal abilities are the skill to envisage their responses to expected action courses which are noteworthy for all levels in the organization. Conceptual skill aids in scrutinizing the environment and in sorting out the threats and prospects. (Bateman, Thomas, & Snell, 2009)
Reference Bateman, S. Thomas, & Snell, A. Scott (2009), Management: Leading and collaborating in a world, 8th Edition. DIS 2 Do you think that when managers make decisions they follow the decision-making steps as presented in this chapter? Which steps are apt to be overlooked or given inadequate attention? What can people do to make sure they do a more thorough job? Note: Decisions are made daily in both our personal lives and the business world. As managers, every decision we make affects either people or expenditures of resources. In this example, either your personal decision or a business decision is acceptable for illustration. Most of the companies endure from the mistakes made in not following modestly the process of decision making especially the process of analyzing alternative solutions in the process. This mostly happens as managers’ takes decisions hastily, without taking into considerations diverse options and selecting the first method very convenient for them. These leads to failure and have adverse effects in the obtaining result due to quick decisions taken without following the appropriate steps. For further difficult problems, a process centered tactic would be further appropriate, which includes essentially searching and finding diverse alternatives, evaluating them and selecting the best alternative. The standard principles for analyzing the alternatives ought to be structured. When it derives to outlining the criteria, organizational goals in addition to the company culture ought to be taken into deliberation.
was that it was founded on the marathon pre-digital approach. The digital age needs a hands-on run. The response of Wells Fargo needed urgency, accountability and transparency and it charted this playbook for disaster after disaster in the years that pursued. With linked and prominent private and public forums for circulating information and disinformation, a unlimited supply of disgrace from all sides, issues are additional projected to breed into full-scale crisis on social platforms, blowout to electronic news openings and create their way into conventional media before one have even perceived the hashtag. Five years of headlines of Wells Fargo back trace to equally its practices of business and its playbook of crisis management. There are significant lessons which can be learnt from the experiences of banks. Reference https://www.thinkadvisor.com/2021/01/22/ex-wells-fargo-general-counsel-to-pay-3-5m-penalty- for-role-in-phony-account-scandal-415-395379/ DIS 4 Your text specified some of the changes in the external environment that can provide business opportunities (technological discoveries, lifestyle and taste changes, and so on). Identify some recent changes on current trends in the external environment and the business opportunities they might offer. Note: Your findings here should be very easy, as we have had numerous evolutionary changes in the business community over the last 50 years. As we look back, it is hardly conceivable to consider the improvements we have made in both human relations and technological advancements.
Novel and transformative technologies were quickly arriving the place of work even previously the pandemic, allowing businesses to revolutionize and flourish in a progressively digital world. On the other hand then 2020 occurred, and what was thought to take years had to occur in merely a few months or lesser. Digital revolution has been vital in retorting to the work disruption and business ecologies, and furthermost businesses widen up their energies to meeting up this unexpected change. Eight in 10 establishments advanced their digital revolution programs in 2020. Additionally, many said the pandemic emphasized the need for an additional agile and ascendable IT setting. It’s obvious that in this novel world, technology is not a prime, on the other hand an essential strategy of business that need be intertwined into every single lot of an organization. Transformation can allow superior alliance in and between organizations, additional custom-made means of customer engagement, higher employee output and innovation, and further precise perceptions from data, all of which aid business nurture and give it an improved chance of prospering post-pandemic. DIS 5 Pick a job you have held, and describe it in terms of span of control, delegation, responsibility, authority, and accountability. If you have never held a job, interview someone you know regarding the same criteria and summarize their responses. Note: The business world offers many varied opportunities to excel in the workplace. As workers, we often do not stop to think about the terms listed in this question. The Unity of Command Principle refers to the basic rule that an employee must answer to a single manager and not several. An exception to this rule is the Matrix management concept. Answer
Note: Entrepreneurship offers much flexibility in how you…the creator…manage and operate your business. Most people who strive to create their own business focus on the retail sector. Others might consider a consultant or even a service type business. Whatever the direction you choose to take, you will interface with other individuals (hopefully customers) who will pay for your products and services. This question focuses on what your strongest attributes are which will serve to ensure your success in the chosen business initiative. Certain people with time inherit core business skills and several require to develop a few. Carrying out of business is not easy for anybody, as it requires sheer perseverance accompanied by dedication, passion, strong will and belief patience. Persons who is not scared of investing their savings and not disturbed regarding the outcome can be a good entrepreneur, as there is no secure area in business. I feel I have these skills to be successful in starting a new business In the networked business every person is linked together by informal systems and the job demands moderately in comparison to an organizational official structure. This type of organization positions its soft structure of set-ups, affiliations, groups, teams, and people fairly than reporting lines. Each person in this organization is learning and everyone is leading by example as a result they ought to have good directing and team expertise. Independent people and groups/teams in the networks, operate connect transverse borders, working together for a common purpose. It initiates authority not from an authority order conversely from an individual’s known skills and knowledge. (Bateman, Thomas, & Snell, 2009)
Reference Bateman, S. Thomas, & Snell, A. Scott (2009), Management: Leading and collaborating in a world, 8th Edition.
