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External environment plays a key role in the manager's roles. Different factors in the external environment create opportunity and present threats to which the organization needs to respond. It is important for managers to conduct an environmental scan in order to better understand the environment in which they operate. Juervicius (2013) explains one system, the PESTLE system, which forces managers to think about the different external factors that affect their business.
The PESTEL model features an analysis of the political, economic, social, technological, environmental and legal environments. For the manager, each of these provides the framework for analyzing the operating environment. These factors are all significant, and unrelated to other external factors like competition and demand drivers. For example, where there is political risk (like a government shutdown), the manager can better understand this risk by working through the PESTEL framework. The economy is a critical input, and technological changes can turn an industry upside down. Thus, managers must make their decisions for both the short-run and the long-run based on careful analysis of the external environment.
This analysis usually works in concert with an analysis of the internal capabilities and weaknesses of the firm, and an analysis of the competitive dynamics in which the company operates. With these different tools, managers will make more informed decisions that should result in greater success...
Different types of management philosophies have come into vogue and then fallen out of favor, and it is important for managers to be able to put their own training, biases and insights into perspective in the greater world of management. One influential theorist was Henri Fayol, an Istanbul-born Frenchmen who became one of the most important management theorists of the 20th century.
Fayol wrote the 14 Principles of Management, which remain relevant today (MindTools, 2013). These principles are:
Division of work
Authority
Discipline
Unity of command
Unity of direction
Subordination of individual interests
Remuneration
Centralization
Scalar chain
Order
Equity
Stability of tenure of power
Initiative
Esprit de Corps
Most of these ideas were relatively new to management thought, so to put them together in a single framework and ask managers to consider ways to implement them all simultaneously was one of the earlier attempts at codifying the practice of managing large numbers of people in a non-military context. Fayol's work provides structure for managers. If his ideas are implemented, the…
References
Jurevicius, O. (2013). PEST and PESTEL analysis. Strategic Management Insight. Retrieve November 20, 2013 from http://www.strategicmanagementinsight.com/tools/pest-pestel-analysis.html
Mind Tools. (2013). Henri Fayol's Principles of Management. MindTools.com. Retrieved November 20, 2013 fro http://www.mindtools.com/pages/article/henri-fayol.htm
In the incipient stages, change causes reticence and this reticence is mostly obvious in the case of the more mature group of employees. While the younger staff members are more opened to change and will embrace it as a new career opportunity, the older population is simply looking to perform its current tasks into retirement. When reticence occurs among the younger population, it can be reduced through change management programs.
Management STYLE IN THE United States Cultural Values and Business Theory X vs. Theory Y Management the High Tech Way Management STYLE IN THE DOMINICAN REPUBLIC CULTURAL VALUES AND Business Role of Entrepreneurship In the United States, management values, beliefs and attitudes have undergone a gradual shift away from the simplistic stance of planning, organizing and directing. Valuable managerial skills, no matter what culture is being considered, have traditionally been masculine skills, highlighting the dominant, assertive, and
internal and external business environment of two fast food giants, McDonald's and KFC. The major sections of the paper include introduction to the companies; the competitive analysis of the fast food industry using five forces model; the Balanced Scorecard and SWOT analysis of the companies; and a set of recommendations in the light of these analyses. The purpose of this paper is to present an analysis of the Global fast
information systems and its effects on business processes. Moreover, I have explained the several business components and their effectiveness as information systems. In addition, I have provided information regarding the effects of information systems on various business careers. Information systems have brought revolutions and innovations in today's business' setups and also have developed a close relationship with globalization. The responsibility of these information systems in an organization is not to
Managerial Motivation of Generational CohortsTable of ContentsLiterature Review 3The Strauss and Howe generational theory 3Motivational differences of different generational cohorts 4Workforce motivation theories 5Performance management strategies in the workplace 9Job characteristics for different generational cohorts 10Generational differences in work values 12Relationship between the topic (Managerial Motivation of Generational Cohorts) and literature theory 15References 16Bibliography 18Literature ReviewThe Strauss and Howe generational theoryCommended by Newt Gingrich, ex-house speaker, Al Gore, ex-Vice President
Incentives and Performance Kopelman, R., et al. (2012); Further Development of a Measure of Theory X and Y Managerial Assumptions. Journal of Managerial Issues. 24 (4): 450-62. Certainly, there is no one best way to ensure that either employees or managers are properly motivated. Most scholarship, in fact, indicates that motivation is a balance between the task-relevant behavior and the maturity and acumen of the group in which the individual manages