...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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...Every manager regardless of the nature of the organization or the functional area, in which they operate, executes their work in four key roles. According to the Henri Fayol’s functional approach, all managers plan, organize, command, coordinate and control. These traditional functions have been curtailed to reflect four major roles of a manager. (Robbins & Coulter, 2012). My paper will analyze these four roles of a manager within the functional areas of business. Planning Planning is the bedrock on which the other managerial functions operate. In order for a manager to create an environment where individuals are working together to achieve the organizational success, there must be planning. A manager’s job is to ensure that everyone understands the team’s goals and objectives and how to achieve them. Managers must establish the organization’s goals which outline what is needed, how to accomplish the company’s objectives and provide the allocated time to arrive at the stated goals. In addition managers are also required to provide the necessary steps in which to effectively implement the goals of the company. The final step in the planning role of a manager, is the evaluation process where they are able to assess the success of their plans and take corrective action when necessary. (Carpenter, Bauer & Erdogan, 2009). One of the most important planning processes of a company is the strategic planning concept, which is vital to the company’s survival, because...
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...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 graduation. In the pursuit of a graduate degree, specifically at the MBA program level, it is essential to discover a focal point in the functional areas of business that one may be interested in achieving success. The University of Phoenix MBA overview provides several options to examine, but for the purpose of this paper an emphasis will be drawn to these...
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...A product manager investigates, selects, and develops products for an organization, performing the activities of product management. A product manager considers numerous factors such as intended demographic, the products offered by the competition, and how well the product fits with the company's business model. Generally, a product manager manages one or more tangible products. However, the term may be used to describe a person who manages intangible products, such as music, information, and services. A product manager's role in tangible goods industries is similar to a program director's role in service industries. Diverse interpretations regarding the role of the product manager are the norm. The product manager title is often used in many ways to describe drastically different duties and responsibilities. Even within the high-tech industry where product management is better defined, the product manager's job description varies widely among companies. This is due to tradition and intuitive interpretations by different individuals. In the financial services industry (banking, insurance etc.), product managers manage products (for example, credit card portfolios), their profit and loss, and also determine the business development strategy. In a Scrum environment, a Product Manager is also referred to as the Product Owner, and usually has the main role of representing the product to the customer.[1] Some of the responsibilities of the Product Owner include marketing of the...
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...of Project Management True/False 1. The performance of an organization or a project s influenced largely by how well its resources are organized 2. A single organizational structure is best for all organizations regardless of strategy. 3. An organization’s structure reveals the formal groupings and specializations of activities. 4. The Project Organization is based upon organizing resources to perform specialized tasks or activities in order to attain the goals of the organization. 5. The Functional Organization is based upon organizing resources to perform specialized tasks or activities in order to attain the goals of the organization. 6. Breadth, depth of knowledge and experience are advantages for projects sponsored by organizations with functional structures. 7. The Project Organizational structure supports clear authority and responsibility, improved communication and high levels of integration. 8. Disadvantages of the Project Organizational structure include project isolation, duplication of effort and projectitis. 9. Projectitis sometimes occurs when the project manager and project team develop a strong attachment to the project and to each other. 10. Unity of Command is violated when a project team member has only one direct superior. 11. The main feature of the Matrix Organizational structure is the ability to integrate areas and resources throughout an organization. 12. High potential for conflict and poor response time are disadvantages...
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...------------------------------------------------- What is a Project? Learning Objectives After completing this topic, you should be able to * recognize examples of a project * identify the characteristics of a project 1. Project characteristics Projects make up almost half of the work that most organizations do. Organizations use projects to help meet their strategic goals. In terms of strategic goals, projects may help an organization meet changes in market demands, customer requests, or organizational requirements. They may also help an organization make the most of technological advances or meet legal requirements. Select each strategic goal for examples. ------------------------------------------------- Market demands ------------------------------------------------- The goal of a project may be to respond to increases or decreases in market demands. For example, car manufacturers research and design fuel-efficient cars to meet market demands for greener products. ------------------------------------------------- Customer requests ------------------------------------------------- Projects may help organizations satisfy customer requests. A call center may use a project to upgrade its computer systems based on requests for faster response times. ------------------------------------------------- Organizational requirements ------------------------------------------------- Projects can help meet changes in organizational requirements. So a company...
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...INS2019 Business Organization and Management Anh MAI, International School (ISVNU) Mail: anhmd@isvnu.vn Cell: 0902372688 Topics to discuss Topic 1: Introduction to management Topic 2: The history of management Topic 3: The management environment Topic 4: Planning and Strategy Formulation Topic 5: Decision Making Topic 6: Organizing structure and design Topic 7: HRM Topic 8: Leading Topic 9: Teamwork Topic 10: Motivation & Communication Topic 11: Organizational Control 2 Topic from Daft (2012) and Innovation Adapted 12: Change 6/11/2012 Topics to discuss History of Management Evolution of Management thinking Environment of Management Corporate Culture, Ethics and Social Responsibility Management Planning -Managerial planning & goal setting - Strategy formulation & Implementation - Managerial decision making Organizing -Designing adaptive organizations -Managing change & innovation -Human resource Management Leading -Leadership -Motivation -Communication -Teamwork Controlling -Managerial and Quality control 3 Adapted from Daft (2012) 6/11/2012 Working Plan Topic Session No 1 2 Session 1 Session 2 Topics Textbook NEM Ch 1 NEM Ch 2 Tutorial Cases Questions 1, 5, 8, 9 Elektra Products, Inc (p.56) Introduction to Management The History of Management The Management Environment, Ethics and CSR Planning & Strategy Formulation 4, 6, 7 SIA Corporation (p. 58) 3 Session 3 NEM Ch 3...
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...Task 2 9. Task 3 10. Conclusion 11. Recommendation 12. Reference Introduction Any operating organization should have its own structure in order to operate efficiently. For an organization, the organizational structure is a hierarchy of people and its functions. The organizational structure of an organization tells us the character of an organization and the values it believes in. therefore, when we do business with an organization or getting into a new job in an organization, it is always a great idea to get to know and understand their organizational structure. Executive summary In this assignment, I describe about the theory of the organization, the types of the organization, and the nature of the organization. As task 1, 2 and 3 I have explain about Paul Rogers’ card design business. Theory of organizational structure The theory of organizational structure is a product of the industrial revolution to help businesses appropriate their workforce. Classical school Henry Fayol is acknowledged as the founder of the Classical Organization theory and is one of the pioneers of management thought. He divided the business activities into six areas- technical, commercial, financial, accounting, managerial functions and protecting the assets of the organization. Fayol also introduced the principles of organizing which the managers have to apply to their organizations. They are- 1. Division of labour 2. Authority and responsibility 3. Discipline 4. Unity of...
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...Kimberly-Clark Kroger Nucor Walgreens Wells Fargo Kaiser Permanente Ascension Health Google Apple Your own organization* Your final project for each week in this course will require you to examine this organization. * If you wish to use your current organization in which you work, you must have this approved in writing by your instructor before moving forward with the assignment. Research your chosen company. Find a minimum of one library source, which will support your thesis in this assignment. Review your assigned weekly lecture and text reading. Select from this reading 3-5 key concepts, which will also support your thesis. In a two to three page paper, address the questions below. Your paper should follow APA format including a title and reference page. The two to three page paper length requirement does NOT include the title page and reference page. Refer to your classroom area titled South University Policies and Guideline: Using APA Standards in Your Coursework to ensure you are following the correct format. Managers have the responsibility to oversee and influence the direction of an organization. Their input is critical to an organization’s performance and success. Describe the manager’s functional role in the organization. Explain expectations of the role. Evaluate how the manager fulfills the expectations of the role. Explore the different types of planning in your assigned reading. Explain what specific planning challenges you think...
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...Robel Teffera MG 210 Chp.13 Discussion Questions 1. Describe the different types of groups and the five stages of group development. A group is two or more interacting and interdependent individuals who come together to achieve specific goals. Formal groups are work groups that are defined by the organization’s structure and have designated work assignments and specific tasks directed at accomplishing organizational goals. Informal groups are social groups. The forming stage consists of two phases: joining the group and defining the group’s purpose, structure, and leadership. The storming stage is one of intragroup conflict over who will control the group and what the group will be doing. The norming stage is when close relationships and cohesiveness develop as norms are determined. The performing stage is when group members began to work on the group’s task. The adjourning stage is when the group prepares to disband. 2. Explain how external conditions and group member resources affect group performance and satisfaction. External conditions, such as availability of resources, organizational goals, and other factors, affect work groups. Group member resources (knowledge, skills, abilities, personality traits) can influence what members can do and how effectively they will perform in a group. 3. Discuss how group structure, group processes, and group tasks influence group performance and satisfaction. Group roles generally involve getting the work done or keeping group...
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...Human Resources Management, 13e (Dessler) Chapter 1 Introduction to Human Resource Management 1) The basic functions of the management process include all of the following EXCEPT ________. A) planning B) organizing C) outsourcing D) leading Answer: C Explanation: C) The five basic functions of the management process include planning, organizing, staffing, leading, and controlling. Outsourcing jobs may be an aspect of human resources, but it is not one of the primary management functions. Diff: 1 Chapter: 1 Objective: 1 Skill: Concept Learning Outcome: Define human resource management and describe modern trends in the field 2) Which of the following is the person responsible for accomplishing an organization's goals by planning, organizing, staffing, leading, and controlling personnel? A) manager B) entrepreneur C) generalist D) marketer Answer: A Explanation: A) The manager is the person responsible for accomplishing an organization's goals by planning, organizing, staffing, leading, and controlling the efforts of the organization's people. An entrepreneur may manage people or may hire a manager to do so instead, but entrepreneurs are defined as individuals who start their own businesses. Diff: 2 Chapter: 1 Objective: 1 Skill: Concept 3) Which of the following includes five basic functions--planning, organizing, staffing, leading, and controlling? A) job analysis B) strategic management C) management process D) adaptability screening ...
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...1. What is the current process of initiating projects within the organization? There are several functional departments that manage projects and have established standard processes and templates although these are not consistent across the organization. The PMO has developed a methodology and process, including standard tools and templates for project management to the implementation of the strategic programs of the company. 2. What is the operational relationship of the various locations vis-à-vis the implementation of strategies and execution of projects across these locations? Each strategic program has an assigned executive sponsor and is managed by a program leader. These program leaders are responsible for implementing the strategic projects across all Champion locations. 3. What type of organizational structure does Champion Technologies operate i.e. functional, projectized or matrix? The organization as a whole is largely functional, although as we continue to reorganize departments to better meet current and future challenges, we have some roles that have been matrixed. A matrixed organization has to be carefully monitored for conflicts where interdependencies lie so we follow a RACI model is these cases. In terms of the PMO, this is a small organization that reports to the President and CEO of the company. We serve as a functional interface with several executive leadership teams and the strategic Program Leaders...
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...Role of a Manager Functional areas of business Role of a Manager Functional areas of business Tanja Dixon | Business Management/MSN/521 | September 22, 2014 Tanja Dixon | Business Management/MSN/521 | September 22, 2014 Introduction Managing others can be as rewarding as it is challenging if you approach the job with intelligence, creativity, and a good sense of humor and a basic knowledge of what it takes to work with and motivate others in business. You can give yourself the edge by learning ideas and techniques that have proven valuable for other managers. We will learn that managers are communicators, advisors, team player, planner and conflict resolver. The role of a manager is important in an organization because they are needed to recruit, select and hire employees. The managers has to focus on day to day people management. We also will learn the four important roles of a manager and how managers function in a business environment. Tiffan, B. (2011) page 94, “The fact is the best managers are proactive about everything in their job. They anticipate potential problems and take pre-emptive action. They have a sense of urgency. Simply stated, they have a bias for action. They make things happen rather than waiting for things to happen.” Four Important Roles of a Manager Managers’ balances setting expectations with making sure their employees have the proper support to deliver those expectations. Support needed is a function of the manager’s experience...
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...management tools and complex back office systems for global service and support are finding these techniques to be more cost effective, adaptable and lean improving user requests for changing software functionality, processes and improved deployment strategies (Applegate, Austin, & McFarlan, 2002). This paper will compare and contrast three team oriented programming environments including Rational, Unified Modeling and Extreme Programming and will describe the impact of these programming environments on group software development. Literature Review of Software Trends The traditional methods of systems planning and investment decision making in the last century have given pause to leaders who witnessed costs in design, implementation and deployment of software skyrocket, created armies of support teams to operate and manage the software products and forced many firms into bankruptcy. Companies who have successfully implemented enterprise systems are now seeking more adaptive infrastructure deployments, software end-user functional value, and more adaptable learning approaches from the traditional waterfall design and deployment approach of the 90s (Applegate, Austin, & McFarlan, 2002). As computing systems have advanced to distributed computing models and web services integrate ubiquitous computing programs, companies are experiencing an infinite backlog of software projects, many of which fail to meet user needs because requirements are...
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...Organization and Teamwork UAB BUS 102 CH 8 Business in Action 7e Bovée/Thill Learning Objectives 1. Explain the major decisions needed to design an 2. 3. 4. 5. 6. organization structure Define four major types of organization structures Explain how a team differs from a group and describe the six most common forms of teams Highlight the advantages and disadvantages of working in teams and list the characteristics of effective teams Review the five stages of team development and explain why conflict can arise in team settings Explain the concept of an unstructured organization and identify the major benefits and challenges of taking this approach 8-2 Designing an Effective Organization Structure Organization Structure A framework that enables managers to divide responsibilities, ensure employee accountability, and distribute the decision-making authority Organization Chart A diagram that shows how employees and tasks are grouped and where the lines of communication and authority flow 8-3 Key Organizing Concepts Agile Organization Company structure, policies, and capabilities allow employees to respond quickly to customer needs and changes in the business environment Core Competencies Capabilities that a company considers central and vital to its business – critical. Work Specialization (Division of Labor) Allocation of specific responsibility for some portion of an organization’s overall work tasks 8-4 Exhibit...
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