- Contrast the classical/scientific school of management with the behavioral school
The classical school of management focused on the task and on how to manage organizations more effectively. Managers believed in using one specific method to run the company. This involved the application of scientific methods when working and when selecting the most suitable people to work in the company. Managers used scientific methods to train and educate their workers (Plunkett et al., 2011). The behavioral school on the other hand focused on identifying the factors that affect people at work. Managers applying this method consider people their most important asset. The managers focus on how they can motivate their employees. They believe that satisfied employees have better performance. The managers identify the training needs of their workers by interacting with them before implementing any program. They believe that improving human conditions in the workplace is more effective and leads to more productivity, rather than focusing on the technical aspects of the job (Dalton et al., 2010)
- Relate how today’s management environment differs from that of the management environment of the early 1900s
There was much focus on authority and discipline in early management. Management was relegated to a few people in top management who made all the decisions concerning the company. Employees were expected to follow the managers’ directives without question and to complete the task assigned to them in the prescribed way. The business environment at the time was bureaucratic and they viewed organizational functions as mechanistic (Martin, 2012). Managers dealt within the local and regional contexts, and they used specific management methods, which suit their environment. Today’s managers encourage innovativeness and creativity. They deal in a business environment that changes rapidly, and this requires quick decision-making. Employees do not have to perform the task in the stipulated way. Top managers encourage leadership and management in the lower positions. Groups and teams are important in accomplishing projects. Today’s managers deal with a global environment, which requires them to apply different management methods and techniques (Daft & Marcic, 2011)
- Relate how culture influences ethics and how management can foster a firm’s ethical culture
Culture refers to the company’s belief and value systems as well as its norms and ways of operation. An apathetic culture will result in an organization that does not show any concern to how employees behave towards each other and towards other people in the organization. People in such a culture are more concerned with fulfilling their self-interests (Ferrell, et al., 2009). Managers influence the company’s ethical culture by their characters and beliefs. Managers who believe in integrity will encourage and influence ethical decision making in the company. They will formulate the guidelines that other employees should follow to ensure that they act ethically. Managers act as role models to their employees. They should not take advantage of any loopholes to act in an immoral way, as this will determine how their employees act in future (Brenkert, 2004)
- Describe the changes that globalization is having on diversity and the methods firms can use to manage diversity
Globalization has increased mobility and it has enhanced diversity in institutions. Companies deal with customers, employees, suppliers, investors, and other stakeholders from different countries and regions around the world. Organizations now have people from different backgrounds, in terms of nationalities and cultures, socioeconomic environments, race and ethnicity, values, beliefs and religions. In addition, employees vary in terms of age, gender, experience, abilities, and sexual orientation (Markovic, 2012). Organizations are educating their workers and raising awareness concerning diversity. The employees are receiving training that enables them to get rid of any misconceptions and stereotypes about particular groups of people. They are also encouraging teamwork with members of different groups and this enhances understanding among the people (Patrick & Kumar, 2012)
- Briefly discuss the individual steps of the decision making process
The decision making process involves defining the problem, finding the possible alternatives, determining the criteria to use, evaluating the identified alternatives and choosing the final option. The person then implements his choice and evaluates the results of his decision. This determines whether he has made a suitable alternative (Anderson et al., 2007). One has to allocate weight to the criteria used when making decisions. This will help in coming up with the final decision and it will help the person to prioritize. Evaluating the possible alternatives means noting their strengths and weaknesses in order to determine the one that will be most suitable. The choice selected should be able to solve the problem effectively (Robbins & Coulter, 2005).
- Discuss several methods managers can use to make better decisions
Managers can make better decisions by increasing the information they have. The information should be complete, accurate, and of high quality (Goodman et al., 2007). This will help them to come up with many alternatives and this will enhance their decision making process. They can also make better decisions by involving other people in the process. For instance, they can use teams form groups in the company. The diversity present in the teams will contribute to better decision making because more people will come up with different ideas. They can make better decisions by incorporating technology in the decision making process. Management information systems and other related technologies can help managers make the best decisions. Such technologies, coupled with the managers’ skills help in making quality decisions (Lancaster, 2012).
- Discuss the components of a business plan and its functions
A business plan helps the entrepreneur to develop his business in terms of the product or services he will be dealing with, where he is currently, and where he hopes to be in the future (Longenecker et al., 2008). The introduction section includes basic information concerning the company such as the name and the contact details. The executive summary provides an outline of the business plan, and it gives the person a chance to explain why he thinks the business is viable. The other component involves an explanation of how the business will benefit the community. A person needs to explain his concept of the business in terms of the company and the industry, as well as the products and services that he intends to deal with in the business plan. The plan should also provide details of the management team. The manufacturing and operations plan include details such as facilities and capital equipment. Marketing plan includes discussion on the market such as trends and competition. The financial plan includes the sales forecast and sources of funding. The exit strategy includes information on the plans of the business such as going public and succession (Pride et al., 2009).
- Discuss the techniques of forecasting and developing business premises
Forecasting techniques can include the Delphi method, use of historical analogy, and application of market research (Lucey & Lucey, 2002). Methods used for developing business premises depend on many different factors. People have to ensure that they act within the law by following business codes and regulations. The purpose of the premises, the skill of the architects, and the materials used will determine the type of building erected.
- Discuss the different types of corporate-level strategies, including possible advantages and/or disadvantages, and how a firm can grow with each strategy
Horizontal integration refers to a firm’s decision to merge with another in the same industry. This minimizes competition between the firms, increased bargaining power, and increases profitability. Vertical integration refers to the company’s decision to enter a new business so that it can strengthen its core industry. The company enters an industry, which adds value to its products. This helps the company to lower costs, increase product differentiation, and increase profitability (Hill & Jones, 2012). Companies can decide to diversify by entering new markets or by introducing new products. This increases the customer base for the company and it leads to subsequent increase in profits. Firms can decide to penetrate the market by lowering their price of their commodities. This will increase the number of people choosing to purchase the products and it will in turn lead to increased revenues (Hill et al., 2011)
- Describe the various strategic planning tools and their purposes
The SWOT analysis enables companies to examine their internal and external environments. They identify their areas of improvements and examine the threats they face in the market. They are able to note any opportunities they have and determine how they can maintain their strengths (Ferrell, 2003). The PESTEL analysis enables the company to examine its political, economic, social, technological, environmental, and legal factors that can affect their operations. Organizations use the Porter’s five forces to know their industry’s profitability and to identify the competitive strategy they will use. The company examines factors such as the buyer’s bargaining power, threat of the substitutes, threat of entry, the suppliers bargaining power, and the rivalry in the industry (Andler, 2012).
Anderson, R. D., Sweeney, J. D., Williams, A. T., & Martin, K. R. (2007). An introduction to management science: Quantitative approaches to decision making. New York, NY: Cengage Learning.
Andler, N. (2012). Tools for Project Management, Workshops and Consulting: A Must-Have Compendium of Essential Tools and Techniques. Hoboken, NJ: John Wiley & Sons.
Brenkert, G. G. (2004). Corporate integrity and accountability. Thousand Oaks, CA: SAGE.
Daft, L. R., & Marcic, D. (2011). Understanding management, 8th ed. New York, NY: Cengage Learning.
Dalton, M., Hoyle, G. D., & Watts, W. M. (2010). Human relations. New York, NY: Cengage Learning.
Denhardt, R.B., & Grubbs, J. W. (2003). Public administration: An action orientation, 4th ed. Belmont CA: Thomson Wadsworth.
Ferrell, C. O., Fraedrich, J., & Ferrell, L. (2009). Business ethics 2009 update: Ethical decision making and cases. New York, NY: Cengage Learning.
Ferrell, C. O. (2003). Marketing Strategy, 6th ed. New York, NY: Cengage Learning.
Goodman, H. S., Fandt, M. P., Michlitsch, F. J. (2007). Management: Challenges for tomorrow’s leaders. New York, NY: Cengage Learning.
Hill, A. M., Ireland, D., & Hoskisson, E. R. (2011). Strategic management: Competitiveness and globalization. New York, NY: Cengage Learning.
Hill, W. C., & Jones, R. G. (2012). Strategic management: An integrated approach, 10th ed. New York, NY: Cengage Learning.
Lancaster, G. (2012). Research methods in management. United Kingdom: Routledge.
Longenecker, G. J., Rosales, P. L., & Loeza, T. M. (2008). Small business management. New York, NY: Cengage Learning.
Lucey, T., & Lucey, T. (2002). Quantitative techniques. United Kingdom: Cengage Learning EMEA.
Markovic, R. M. (2012). Impact of globalization on organizational culture, behavior and gender role. Charlotte, NC: IAP.
Martin, G. (2012). Managing people and organizations in changing contexts. United Kingdom: Routledge.
Patrick, A. H., & Kumar, R. V. (2012). Managing workplace diversity: Issues and challenges. Retrieved from http://sgo.sagepub.com/content/early/2012/04/19/2158244012444615.full#sec-4
Plunkett, R. W., Attner, F. R., & Allen, S. G. (2011). Management (Plunkett), 10th ed.: Meeting and exceeding customer expectations. New York, NY: Cengage Learning.
Pride, M. W., Hughes, J. R., & Kapoor, R. J. (2009). Foundations of business. New York, NY: Cengage Learning.
Robbins, P. S., & Coulter, M. (2005). Management. Upper Saddle River, NJ: Prentice Hall Inc.
Top-quality papers guaranteed
100% original papers
We sell only unique pieces of writing completed according to your demands.
We use security encryption to keep your personal data protected.
We can give your money back if something goes wrong with your order.
Enjoy the free features we offer to everyone
Get a free title page formatted according to the specifics of your particular style.
Request us to use APA, MLA, Harvard, Chicago, or any other style for your essay.
Don’t pay extra for a list of references that perfectly fits your academic needs.
24/7 support assistance
Ask us a question anytime you need to—we don’t charge extra for supporting you!
Calculate how much your essay costs
What we are popular for
- English 101
- Business Studies