Business Major
A major in Business Management seems secure, and yet, it could be easily rendered an obsolete concentration. If Business Management were rendered obsolete, it would have adverse implications on the economy, on issues related to social justice, and on the ability for organizations to thrive. Especially during an economic recession, the need to develop future business leaders becomes apparent. Interviews with successful managers who were once students in an MBA/Business Management program highlights some of the reasons why business management education remains relevant, and what would happen if business management were to fall by the wayside in the academic community.
Background of Major
Business management is often a subset of a Bachelors of Business Administration (BBA) or Masters of Business Administration degree (MBA). Some dedicated colleges of business offer a special concentration in Business Management. For example, the Stony Brook University (2012) Business Management program offers undergraduate students "a solid foundation…...
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On the subject of personal development, which company E. should encourage, McGill and Beaty (2001, pp. 85-86) write that in addressing personal development issues, an employer could devise a forum for workers to bring their issues forward. The one rule would be that the issue "is of significance" to the employee; the issues that could be discussed in the personal development session include: "personal motivation towards work"; relationships between managers and colleagues; priorities for one's self and the staff overall; the work direction of the near future.
Beyond personal development, another important concept is management development, which Burgoyne and eynolds describe (p. 21) which is less "theoretical" and more "practical" than management learning, though both would be important to company E. In setting the stage for a better business future. "Management development tends to develop personal knowledge, repertoires and skills (e.g., time management, stress management, assertiveness, team work, presentations, influencing, negotiating,…...
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References
Burgoyne, John, & Reynolds, Michael (1997), Management Learning: Integrating Perspectives in Theory and Practice, Sage, Thousand Oaks, California, pp. 21, 151, 119.
Guirdham, Maureen (2002). Interactive Behaviour at Work, Prentice Hall, New York, pp. 46, 53, 348-49, 539.
Handy, Charles (1993), Understanding Organizations, Oxford University Press, New York, pp. 116, 225-227.
Heathfield, Susan (2004), "Change, Change, Change: Change Management Lessons from the Field," Your Guide to Human Resources, About.com, www.about.com.
Management and Business
Management Theories and Principles of Each eading
The Fifth Discipline forces managers to look at the way in which learning disabilities which are common to organizations can actually stunt their growth and progress. The author targets several common learning disabilities which can riddle even powerful organizations, they are: identifying with only one position, external enemies, the illusion of taking charge, fixation on events, the parable of the boiled frog, the delusion of learning from experience, the myth of the boiled frog and others (Pierce & Newstrom, 2010). These examples serve to demonstrate how common misconceptions can act as shackles towards growth in even a promising company or firm. This chapter highlights the laws of the fifth discipline as well, demonstrating important lessons such as how the cure can be worse than the disease and other true facts of engaging in business (Pierce & Newstrom, 2010).
The section on competitive advantage…...
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References
Pierce, J., & Newstrom, J. (2010). The Manager's Bookshelf: A Mosaic of Contemporary Views. Prentice Hall.
It would also be appropriate where management is too removed from the impact of their operational decisions to gauge the effects of those decisions on the working conditions of the employees who are responsible for implementing them. Finally, the participative leadership style would also be appropriate for introduction where long-time experienced personnel are exhibiting a lack of morale or enthusiasm for their work or where there is a low level of "buy-in" on their part to management decisions or to the organization's operational or strategic goals.
8. Define delegation and empowerment; describe two key components of developing each (delegation and empowerment); and explain why both of these forms of participative leadership are valuable to an organization.
Delegation has always been a fundamental aspect of business management because it is absolutely necessary to the underlying concept of hierarchical management functions. In principle, delegation simply means that supervisors, managers, and others in positions…...
Business Management
Supply chain management is a process conducted by several business entities, which involves planning, implementing and controlling any production and supply activities, with an aim of providing it to consumers in efficient ways. While supplying, there are intermediaries who play a role in connecting producers and consumers, who ensure efficiency in the supply chain too. Supply management is done to ensure collaboration between the intermediaries (Catholic elief Services, 1999, pg 14). Planning and control system aids in define rules under which the business operates and within a given set of resources. Planning and controlling department depend on the information given by supply department for effective control of the business (Muehlen, 2004, pg 35).
Primary forecasting techniques
For a product-producing firm, it often uses primary forecasting techniques to determine the amount of goods demanded in the near future, with several quantitative and qualitative techniques initiated. Qualitative techniques involve rating schemes from informed…...
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References
Blythe, J.A. (2005). Business-to-Business Marketing Management. Bolton: Cengage Learning EMEA.
Hutt, M.A. (2009). Business Marketing Management. United Kingdom: Cengage Learning.
Monks, J. (1996). Scham's Outline of Operation Management. Chicago: McGraw Hill Professional.
Muehlen, M. (2004). Workflow-Based Process Controlling. New York: Michael Zur Muehlen.
usiness - Management
The Four Major Functions of usiness Management
At the turn of the twentieth century, Henri Fayol, a French industrialist, outlined his theory of business management. He proposed that managers focus their responsibilities in the areas of planning, organizing, leading, and controlling.
In planning, goals are defined, strategies are established, and activities coordinated. It is a decisional role that involves entrepreneurial activities, problem solving, negotiating, and techniques in persuasion. The planning stages may be short or long-term, and may be specific in nature, focusing on a single set of tasks, or directional where planning is used to determine goals for the future. Plans can be organized into two areas of thought: strategic and operational. Strategic plans launch overall objectives for the breadth of the organization, and consider the environment in which the organization is situated. In operational planning, individual objectives rather than organizational goals are the concern, and the details of…...
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Bibliography
Choo, C.W. (1995). Development of Management Thought. Retrieved January 20, 2004.
Business Management Principles -- Questions from PowerPoint Chapter
Described the major factors that have influenced the evolution of management thought.
The major factors that have influenced the evolution of management thought are economic, social, political, technological, and global factors. Generally, economic factors relate to resource availability and distribution in society; social factors consist of culture and interpersonal issues; political factors relate to the effects of political institutions; technological factors relate to the ways that the evolution of hardware devices and systems affect business; and global factors consist of the ways that the evolution of a global market place affects the conduct of business and business practices.
Identify and describe the central focus of the following subfields of the classical perspective on management:
Scientific Management
Scientific management emphasizes the productivity of individual workers. Its original theorist was American Frederick Taylor and it had also been referred to as "Taylorism." He studied the minute ways that task…...
Analysis of the Apparent Disconnect between Human esources and Management
In this case, Sue has taken it upon herself that specific human resource practices are the right course for her new organization despite explicit indications from management that those particular practices do not fit the organization's strategic vision, organizational values, or available resources. In her inexperience, Sue has employed a myopic view of the concept of best practices, largely oblivious to the significance of best fit (George & Jones, 2008).
Sue has assumed that all best practices in her previous professional environment necessarily correspond to best practices in her current environment. In fact, the distinguishing features between the two entities whose relevance and significance Sue fails to appreciate make the approach that works in the public sector inappropriate for a private-sector organizations such as that of her current firm. Generally, employment opportunities in the public sector offer different comparative benefits and limitations…...
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References
George, J.M. And Jones, G.R. (2008). Understanding and Managing Organizational
Behavior. Upper Saddle River, NJ: Prentice Hall.
Gerrig, R.J. And Zimbardo, P.G. (2008). Psychology and Life. New York: Pearson.
Robbins, S.P. And Judge, T.A. (2009). Organizational Behavior. Upper Saddle River,
Without this
level of foresight and planning an organization will have three to six
months of one direction then another. The side-effect is that over a year
nothing strategic gets accomplished. A CEO needs to define then a series
of interlinked and interrelated plans where it is communicated and
recognized that there may be one or two quarters of foundation-building
where nothing significant happens, yet this time period is specifically
focused on building for the future. In publicly-held companies with the
pressure to produce results every 90 days for investors, CEOs have a tough
job of explaining a quarter or two of time invested for future growth.
Ultimately the need to bring change into an organization based on
technology also needs to include a high level of ownership throughout the
organization. This aspect of change is defined by Aguirre, Calderone,
Jones (2004), where their research concentrates on how technological change
needs to be underscored by infusion of ownership by employees at the same
time.…...
Business Management
Responsible Management of Roles within the Business Culture: The Acme Minerals Extraction Company Case Study
The case study of the Acme Minerals Extraction Company is characterized by a conflict arising from two groups within the organization, composed of the geologists, geophysicists, and engineers (first group) and the skilled and semi-skilled laborers (second group). This faction between the 'brains' and 'brawns' group in Acme has brought about increased organizational instability and lower productivity due to the groups' conflict. Suzanne Howard, who spearheaded the establishment of a program "that would improve productivity and morale" among the company's employees, developed a four-step plan that aims to bring together the brain and brawn groups. The model of Responsible Management of Power, wherein empowerment among employees is achieved through a four-way process, characterizes the program. Howard has first gone through the process of imposing three functionary groups within the company: the operations, below ground, and…...
Our employees already rely substantially on digital
communications and mobile connectivity to communicate and coordinate on a 24-hour basis. Supervisors are issued dedicated company mobile devices.
Global Diversity
The organization has already positioned itself to maximize cultural awareness and sensitivity both internally and externally.
New Security
Our it security policies, procedures, protocols, and processes are continually tested and updated to address the evolving nature of the potential threats environment.
6. Is your H department in a position to handle Business Futures actions?
Yes. The nature of our business does not directly relate to the substantive areas of future business trends. However, to the extent any future business trend issues do relate to the organization, executive management has already demonstrated a commitment to staying either on pace or ahead of evolving trends. The organization has fully incorporated all of the policies, procedures, and processes necessitated by every conceivable future trend that does impact the organization. As…...
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References:
Maxwell, J.C. (2007). The 21 Irrefutable Rules of Leadership. Georgia: Maxwell
Motivation Co.
Noe, R., Hollenbeck, J.R., Gerhart, B., and Wright, P. (2009). Human Resource
More particularly, the tremendous percentage of young people on Kava makes education and professional development paramount in importance both from the perspective of maintaining the reliable workforce necessary for the success of this organization's ventures to the extent they depend on local labor and also for the long-term viability and benefit of the Kava community.
Therefore, a significant portion of this organization's efforts must emphasize the provision of educational opportunities and professional training to allow the many young members of the indigenous population to acquire the requisite skills and education to contribute productively to their community, to benefit personally, and to support the maximum profitability of the ventures established by this organization.
Organizational and Environmental Obstacles, and takeholders Impacted
The principal groups of stakeholder likely to be impacted by the decisions of this organization are: (1) the indigenous population and their descendants; (2) this organization and all of those individuals and families…...
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Sources Consulted
George, J.M. And Jones, G.R. (2008). Understanding and Managing Organizational
Where that is accomplished, formal disciplinary and termination policies do protect organizations against wrongful termination liability. In principle, the worst possible scenario is where such policies exist but without sufficient training to assure that they are not violated when they apply.
Succession Planning Programs
In my opinion, effective succession planning must be a continual and ongoing process if it is to have the desired results and achieve its desired objectives. While it is important to conduct annual reviews of the succession plans themselves, such infrequent employee reviews may lead to a cursory process instead of a more genuine process. More importantly, as you point out, all employees must believe that they are eligible for fair career development opportunities through fundamentally objective evaluation processes and procedures. Where employees begin to feel that only members of a preferred "club" are genuinely eligible for advancement, the organization may lose much of the motivational value…...
Business Management Major was developed in part on the principle that Business Managers are essential to shaping America's future leaders. Business Managers are responsible in the field for providing diverse and innovative insight into organizations worldwide. A successful Business Major will come away from college with forward thinking notions, creative insight and a disciplined spirit (Harriman, 2003). Career opportunities that often result from studying Business Management include management positions that include but are certainly not limited to the following general areas: manufacturing, business consulting, financial planning, banking, sales, marketing, H, personnel, engineering (Harriman, 2003). Business Major's are expected to have a dynamic impact in the workplace, and offer insight, political savvy and problem solving ability in a global workforce. The education and course of study required of business managers prepares them in a variety of ways to be effective in the workplace.
CONEPTUAL UNDEPINNINGS/STATEGIES/BODY OF KNOWLEDGE
Business Management major typically incorporates study…...
Need theories discover the kinds of needs that motivate people but it lacks to explain how people decide to behave in a certain manner for the satisfaction of their needs (Campbell, 1983).
b) Process Theories: These theories explain the thought processes. These thought processes guide certain behaviors through decisions and action to be applied in response to satisfy certain need. Two significant approaches are Vroom's expectancy theory and Adam's equity theory. These theories are helpful in understanding human action that responds to their needs. However it fails to understand continuous people behavior in a certain way.
c) einforcement theories: These theories identify the rationale behind people's behavior and examine the influence of consequences on behavior and suggest that people behavior is directly related to the consequences of their action. In the reinforcement theories the law of effect states that behaviors with pleasant consequences are more likely to be repeated then the…...
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References
Bovee, C. 2000. Management McGraw-Hill, Inc.
Baumeister, R.F, 2004. Handbook of self-regulation: Research, theory, and applications, New
Depending on the approach to business management that you study, there can be four to seven functional areas of business. We favor a business management approach that highlights six functional areas of business: strategy, marketing, finances, human resources, operations, and technology and equipment. To pick which ones to include in a paper you need to write, we would look at what each functional area does and pick the three areas where we had the most subject-area competency. However, if the paper was a research paper, intended to teach us more about business operations, we would actually take....
Strategic formulation is a critical process in business management that involves the development and evaluation of long-term plans and actions to achieve organizational objectives. It is a complex and iterative process that requires a thorough understanding of the organization's internal and external environment, as well as its capabilities and resources.
Components of Strategic Formulation
The strategic formulation process typically involves several key components:
1. Situation Analysis: This involves analyzing the organization's current position, including its strengths, weaknesses, opportunities, and threats (SWOT). A comprehensive situation analysis provides a foundation for understanding the organization's competitive landscape and potential areas for....
Electronic payment adoption factors play a crucial role in revenue growth for small and medium-sized enterprises (SMEs) in todays digital economy. With the increasing trend towards cashless transactions and the growing popularity of online shopping, businesses are recognizing the importance of embracing e-payment solutions to stay competitive and attract customers. In this literature review, we will explore the various factors that influence the adoption of electronic payment methods by SMEs and discuss how these factors can impact revenue growth. One of the key drivers of e-payment adoption among SMEs is convenience. Studies have shown that customers prefer the convenience of....
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