...www.thetimes100.co.uk Davis Service Group - Brief Managing business throughout the business cycle Introduction Global economic activity has reached highs and lows in the past decade. Business confidence was high in 2000. In 2008/9 market growth slowed, then stopped. Many problems were caused by banks making poor lending decisions. When borrowers failed to pay back the money, banks lost confidence and were less willing to lend. This led to people spending less money so demand for products and services fell. The Davis Service Group (Davis) provides textiles maintenance services throughout Europe. It has two main divisions to its business. These are Sunlight in the UK and Berendsen in Europe. The Group has coped with the recent change in the business cycle by focusing on appropriate customers and markets and managing production processes. The business cycle The economy goes through times of ‘boom’ and ‘bust’. These happen in cycles. Gross Domestic Product (GDP) measures all the goods and services sold in a particular period. This is a measure of how the economy performs. A downturn is called a ‘recession’. The effect of this on Davis depends on how each of its markets reacts: • 30% of Davis’ business is in healthcare. The healthcare sector is more stable during a recession. This is because government supports this sector. It is seen as vital. • Some markets are mature. This includes UK work wear. As jobs are lost, demand falls. • In new European markets there...
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...Functional Areas of Business Paper Shaunelle Orridge MGT/521 August 25, 2014 Ellen Thomas When pursuing a Master’s of Business Administration (MBA) degree, individuals may be under the impression that having that degree will increase career success. According to Hay and Hodgkinson (2006), “a popular conception surrounding the MBA degree is that it leads to fast track career success, typically construed in terms of improved salary and hierarchical position ([10] Baruch and Peiperl, 2000; [12] Carnall, 1992)” (vol. 11(2), 108-124). Finance and Accounting, Leadership, Production and Operations Management, Marketing and Sales, Research and Development, and Human Resources are the primary functional areas of business. How does a successful manager operate within functional business areas? In this paper, I will analyze the role of a manager within the functional areas of business. In addition, issues that pertain to leadership in these roles will be addressed. I will also depict the successful manager in these roles in order to answer the question posed. Managers in the Functions of Business Businesses, whether large or small must implement crucial functions in order to stay productive and profitable. These functions may include monitoring inventory, purchasing stock, performing accounts receivable functions, or the hiring and firing of employees. Strategic planning is also a key area in the functional areas of business. Functional areas include: * Production...
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...Functional Areas of Business Paper Jose Aponte Rodriguez MGT 521 March tree 2015 University of phoenix Functional Areas of Business Paper In it we can see the managers of the organizations take a few key roles pair wings companies in which we work are key in what are the daily operations. All this is based on the different areas in which are handled all this as human resources and administration bone marketing all took a very important role in the company. This seeks the cooperation of the different areas to make all this work. And most importantly make this work to achieve the objectives of the company. We will see several companies in which we have examples to get this to work and managed to make it work. Level One Functional Areas of Business Paper Let's see how these changes created proactive changes and how to achieve what are alliances to manage to find what are the increases of the company, this time they used data from minority to achieve what was a functional food and what is the performance improvements in this company. In what was for those decades they saw best ways of strategies to be used since at that time one of his problems was the oil. This made them think about carefully sew them in what were the decisions since they had to be strategic, and it was of great importance that the Finance Department had to do with this direct mind to achieve the objectives in those moments Munsung Rhee and Satish Mehra & Satish (12/2013) Although these strategies...
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...within Functional Areas of Business Business organizations are broken down into smaller functional areas. These functional areas include: marketing, human resources, finance and accounting, and sales. Each of these areas requires a manager to oversee the success of the area. “A manager is someone who coordinates and oversees the work of other people so that organizational goals can be accomplished” (Robbins & Coulter, 2012, p. 5). The role of a manager is crucial to the success of a business. There are differing levels of management, beginning with first-line managers all the way up to top-level managers according to Robbins and Coulter (2012). First-line managers tend to be production supervisors and oversee the operating areas of an organization. Mid-level managers tend to be store or district managers and oversee the first-line managers. Top-level managers tend be executive or financial officers and oversee the mid-level managers. Marketing is how business organizations communicate with their potential customer base. In order for marketing to be successful, a marketing manager must oversee the ideas of the marketing staff and select the best idea or two to attract customers. Marketing managers must have an idea of their customer’s needs as well as their marketing staff’s abilities. Combining these two areas to find the best marketing strategy for their company is what makes a successful marketing manager. Human resources is an area of business where the manager...
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...A 27 de Agosto de 2013, surge a ZON Optimus resultante do processo de fusão entre duas das maiores empresas de telecomunicações dos país: a ZON Multimédia e a Optimus com o objetivo de fortalecer a sua posição combinada no mercado nacional e reforçar as ambições de crescimento. A 16 de Maio de 2014, resultante deste processo de fusão, dá-se o lançamento da marca NOS que segundo a empresa “foi um passo lógico e essencial para o desenvolvimento de uma estratégia de crescimento ambiciosa, elevando o potencial de obtenção de sinergias”. A NOS é um grupo português que desempenha a sua atividade na área das telecomunicações e do entretenimento. A marca NOS está focada nas necessidades de um mundo que trabalha cada dia mais intensamente em rede e de forma colaborativa, oferecendo soluções físicas e móveis sofisticadas ao nível da televisão, internet, voz e dados para todos os tipos de segmentos presentes no mercado – pessoal, residencial e empresarial. Actualmente, a NOS é “um Grupo com capacidade para investir e promover a sua competitividade e a da indústria das telecomunicações, para gerar valor acionista e criar novas oportunidades para os seus colaboradores, clientes e fornecedores”, dispondo de um “conjunto de ativos único, que proporciona uma plataforma extremamente sólida para as suas ambições de crescimento: a nossa rede é a mais moderna, quer em termos de cobertura, quer de capacidade; a nossa oferta de televisão é a mais avançada, com funcionalidades únicas e a melhor interface...
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...Role of a manager within the functional areas of business Managers in a business are the brain of the business and therefore, considered the most vital aspect of business. Managers are the coordinators and administrators of the business. For a business to succeed, managers are assigned different functions in the most vital departments of the business. These departments include human resource, finance, marketing and, operations. The departments oversee the critical segments of the business allowing the business to run smoothly with the help of managers who have specified roles for each department. The roles of the managers in each department are unique considering the difference in the requirements and activities of the departments. The functional areas of a business are run by managers who are responsible for all activities and provide reports to the main governing body of the business. The role of managers in all functional areas of the business is critical for the success of the business. The human resource of the business is an important department because it deals one-on-one with employees of the organization. The purpose of human resource is essentially to reinforce the relationship of employees and their employers. The manager is therefore expected to foster the goal of human resource in a business (Suttle, 2014). The manger is responsible for the competence of all employees of the business. The role of a manger in the human resources department ensures...
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...Functional Areas of Business How often do managers fail? Statistic shows that 50% or more of middle managers fail to achieve the expectations of those who promote them (Business Know-How, 2014). It is apparent with statistic like this it is a difficult job to be an effective manager. Many managers assume that managing a business is just an extension of managing themselves and their personal lives. In fact, becoming a successful manager requires personal development, as well as, a desire to learn and such a transformation does not occur overnight. A manager who wants to advance in the organization must also acquire knowledge of certain functional areas of business. Having a clear understanding of these functional areas enables a manager to make comprehensive business decisions. In this paper different functional areas of business will be identified. In addition, the role of a manager within these functional areas will be analyzed. What does the term functional area of business mean? All successful businesses must operate a number of functions to ensure the business runs smoothly, and these functions link to the goals and objectives of the business. “In large, organizations employees are arranged into departments specializing in certain tasks. These tasks are considered functional areas” (Slide Share, 2014). There is no fixed rule in determining what main functional areas of business are. However, successful structured organizations incorporate the functions listed...
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...Master’s of Business Administration (MBA) overview and the Effective Research and Writing at University of Phoenix Modules are two introductory tools used to help emphasize the importance of the MGT/521 course. They are also guides and directional maps to steer new students to the appropriateness of understanding the necessities to achieve success in this MBA program. The MBA overview encompasses multiple concentration of the program as each tab delves into the specifics of what each focus entails. Effective Research and Writing Modules take a similar pathway as it describes the didactic approach to produce a graduate student quality research paper with the proper American Psychological Association (APA) writing style. This paper will demonstrate the summary of the interest of two functional areas of business. In addition, an explanation of the role managers would have within these areas of business will be described. With the use of supporting peer-review articles from University of Phoenix, an effort will be made to illustrate in detail the appropriate use of the aforementioned points to give the readers the clear understanding of the MBA student’s perspective. Furthermore, students pursue furthering his or her education for various reasons, for example, career growth, personal goal or to start a new career, therefore it is significantly important for each student to use the necessary tools in the most efficient and effective manner to achieve his or her ultimate success of...
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...Functional Areas of Business The role of a manager is today’s modern business environment is becoming increasingly more complicated. Not only does a manager have to worry about directing the day-to-day responsibilities of his or her employees, but he or she also has to be concerned with all the different functional areas of the business. These functional areas include: * Management * Law * Human Resources Management * Leadership * Accounting * Finance * Economics * Research & Statistics * Operations Management * Marketing * Strategic Planning Functional Areas Each functional area of a business is typically established as its own department and led by a manager who is an expert in that field, but all are very closely interrelated. Management/Leadership The management and leadership functions very much go hand in hand. Management is responsibility of directing the day-to-day actions of a company’s employees, while leadership is the process with which that direction is given. A manager can easily tell an employee what to do, but that hardly makes them a leader. A leader inspires their employees by having an adaptable management style, exhibiting behaviors which empower employees, function as a role model, organizing an employee’s work so they are exposed to new experiences and grow, and give employees the autonomy to take risks (Warhurst, 2013). A leader is able to inspire an employee to what to perform better by illustrating...
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...Functional Areas of Business Barbara Butkiewicz MGT/521 June 6, 2014 Rodney Klein Functional Areas of Business Barbara Butkiewicz MGT/521 June 6, 2014 Rodney Klein Abstract Operating a business is a complex task which involves many facets. The MBA Overview Model defines eleven functional areas of business, including management, law, human resource management, leadership, accounting, finance, economics, research and statistics, operations management, marketing, and strategic planning. In order to succeed in business, the organization must bring together the functional areas accordingly to achieve organizational goals. A critical role in any business is the manager. The manager plays an important part in utilizing each area to align the organization collectively towards economic prosperity. In this paper, I will examine the role of the manager in each of the functional areas of business. A business organization is a very complex structure. In order to be successful, a business needs to coordinate and organize many areas within the organization to achieve its mission. According to the University of Phoenix’s MBA Overview Model (2014), the functional areas of business include management, law, human resource management, leadership, accounting, finance, economics, research and statistics, operations management, marketing, and strategic planning. An essential component to any business that intertwines the functional areas is the manager. The role of the manager...
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...Functional Areas of Business Michael Greer MGT/521 1/12/15 Natalie Casale “Business” is one word, but business stands for more than just one thing. Business is comprised of several facets and functional areas: law, human resources management, leadership, accounting, finance, economics, research and statistics, operations management, marketing, and strategic planning. Each of these components has a very specific role and level of importance within a given organization. Even though it’s hard to measure one against another, some functional areas of business are more of a driving force than others. The two catalysts of success for managers begin with human resources management and leadership. In the last several years, “(CEOs) have increasingly emphasized the need for their firms to effectively attract, motivate, develop and retain talent (Wright, 2011, p. 93).” This role is filled by the human resources management team (HRM). This management role is tremendously challenging and forged with various members within the organization, mostly with managers. This is due in part because the HRM team staffs the manager with prospective employees. The HRM staff have a crucial role within the organization to hire “employees who share the company values, proving their expertise in business and an appropriate moral profile (Cruceru, 2010, p. 80).” HRM teams need to consider this when making all of their decisions, and making sure they have the hiring manager in mind so proper...
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...Functional Areas of Business In this paper I would like to consider one more time during this course the purpose of me going back to graduate school. In 1998 I graduated from Saint-Petersburg State Institute of Technology where obtained a Bachelor’s degree in Engineering and Technology. After completion of study I started my career working at one of the biggest oil fields in the world operated by Chevron Company. During my first years of work I had a chance to be involved not only in specific tasks but in managerial activities also. At that time I started to feel that, being a specialist in my area of background I received, does not give me a feeling that this is my way I want to go forward during my entire life. Thanks God, soon, I got promoted to Facilities Engineering Department to Project Engineer position. Since that moment my project management career started. During obtaining work experience by moving from project engineering positions in small projects to more managerial positions in bigger projects, I decided to obtain specific knowledge related to professional project management area. Since 2005 I entered to Project Management Institute Association and managed to obtain Project Management Professional certificate in 2012. PMP was quite challengeable for me and the real thing I proud of. This successful pass though was also like a definition of a new horizon to go forward obtaining Master of Business Administration degree. Why I decided to go to Business Administration...
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...Master in Business Administration (MBA) is the next step in business degree. It will help me understand the business world & business practice for better future career opportunities. Most businesses consist of number of different deparment, which has specific job or task to do that is called functional area of a business such as accounting/finance, marketing, operations, human resources and administration. This degree will help me understand each department of business and what roles managers play in each deparment. All business will carry out each functions but not every business will have a separate deparment that is responsible for each function. All businesses need to be well organized to achieve their aims and objectives. Certain tasks, or functions, must be done regularly and these are usually grouped into specific types of activities. All businesses will carry out each of these functions but not every business will have separate deparment that is responsible for each functions. It is all depends on the size of organizations. All functional are of business are very much important to organization. Few functional areas that interest me are Human Resource and Finance. Human Resources is important department. The main purpose of Human Resource deparment is to recruit, select, train and develop staff. This means that they have to find right people at right place at right time and it is the responsibility of Human Resource to train and develop them to make sure that they...
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...Functional Areas of Business Brendaliz Medina, Edric Vázquez, Félix Tapia, Javier Acosta & Yun Hernández University of Phoenix MGT / 521 January 3, 2012 Prof. Elsie Jiménez Galarza Functional Areas of Business There are different forms of organizational structures that are used according to the needs of each company. In this document to better understand the utilities that have to make a study of the functional area of the company. Also this paper shows how each part, functions and areas of interest are necessary to complement and thus lead a proper structural relationship. The departments of Sales, Marketing, Human Resources and the role of the manager are the areas that we will be covering to ensure success and the proper functioning of the business. Also here are some recommendations to consider when performing the functions of each one of these. The Sales Department as a functional area on any kind of business gave a deep look on whom, how, when the working team wants to achieve their future goals at short and long terms. This part of business is the beginning and the heart of any company even is a service or a products selling company. The important role of the Sales Manager begins with the fact that they have to know every product or service from the beginning to the end. They are the ones who take the customers and convince them of the high qualities and the good usage of any product or service they sale (Mehta, Anderson, Dubas, Dubinsky & Liu, 1999)...
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...Management within Functional Areas of Business Management 521 September 3, 2012 Bridgette Hardy Functional Areas of Business Management is essential in the functional areas of business. Operational service is a functional area of business that demands effective and efficient managers. Management must possess certain skills will help the individuals to do their jobs in the functional areas of which they have chosen as a career. In each functional area of business there are three management levels. The various levels of management play a different but major role in the development and growth of a business. Goals set in designated area of business will vary, depending on the area of business and the level of management. Operational Services Management Armstrong (2006), states that operations management is responsible production of the business or organization's products. Operational service is the area of business that produces a product or services for customers. Managers in operational services oversee the work of their staff to ensure the organizational goals can be accomplished. Managers in this functional area are categorized on three different levels. There are lower level management, middle level management, and upper level management. The responsibility of the manager depends on the level of management in which the individual is classified. The lower level managers are those who manage non-managerial employees. Middle level managers are those...
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