...Successful managers’ qualities Introduction Management aims to improve effectiveness and efficiency. Different managers use different ways to achieve this aim. There have been many studies and theories explaining how to become a successful manager to achieve high management performance. Planning, organizing, controlling, staffing and leading have been stated as the basic function of managers (Daft, 2012). However, these functions are not enough. Today, the business world is filled with many uncertainties and dynamics. There are increasing challenges that a manager might confront. The new business world requires managers have more qualities to support their management work (Lepsinger, 2004). This essay will present the key traits and qualities that a successful manager should have in modern business world, with some examples from real business world. Planning There are many competitors in any industry today and the external environment is changing fast due to technology development, media influence or economic change (Daft, 2012). In such a background, it brings many difficulties to managers. An effective and capable manager should have strategic thinking and planning ability. McKenzie et al (2011) states agile and sound decision making is one of the core strategic capabilities of companies. A successful manager would effectively predict the development and changes in the business environment, and make active response to the future change. Take Liu Chuanzhi, the CEO of Lenovo...
Words: 1721 - Pages: 7
...Since Walt Disney Company is so diversified they have adopted a cohesive management approach and strive for coordination rather than competition between all businesses. They are a company that has choosen a horizontal approach when it comes to the scope of the firm. They have grown the company through a series of mergers and acquisitions. When Walt Disney first started they were just an animation company. They have acquired various firms to help them distribute their product reach a broader audience. The various firms they have acquired have allowed them to increase the scale of their operations. They have expanded their geographic coverage. For example by acquiring UTV they have been able to expand the company internationally. By purchasing Playdom the company has been able to expand the business into social gaming which is a new product category that they never had a presence in before. When the Walt Disney Company bought Pixar they were able to get quick access to new technology that would have normally taken a long time to develop. The firm also used some backwards and forward vertical integration strategies. They control the distribution of their product through the ownership of film production and distribution companies. They also own some cable networks and television stations. They also look at the company as a whole entity when deciding how to allocate capital. At the investor’s conference in May 2012 CEO Bob Iger discussed Disney’s approach to allocating...
Words: 358 - Pages: 2
...Nghiên Cứu & Trao Đổi Ảnh hưởng của việc nắm giữ tiền mặt vượt trội đến các quyết định tài chính của các doanh nghiệp Việt Nam Nguyễn Thị Uyên Uyên & Từ Thị Kim Thoa Trường Đại học Kinh tế TP.HCM Nhận bài: 23/08/2015 – Duyệt đăng: 20/10/2015 N ghiên cứu này được thực hiện dựa trên phân tích dữ liệu thực từ báo cáo tài chính của 158 công ty phi tài chính VN niêm yết trên sàn HSX và HNX, trong giai đoạn 2006 – 2013 nhằm kiểm định ảnh hưởng của việc tích lũy tiền mặt quá mức đến các quyết định tài chính để từ đó tác động đến giá trị doanh nghiệp của các doanh nghiệp VN. Kết quả cho thấy quyết định đầu tư có tác động tích cực lên giá trị doanh nghiệp nhưng không có sự khác biệt giữa nhóm công ty nắm giữ tiền mặt vượt trội và nhóm công ty nắm giữ ít tiền mặt. Quyết định tài trợ cũng có cùng tác động như quyết định đầu tư; tuy nhiên, ở quyết định này những công ty nắm giữ tiền mặt vượt trội có ảnh hưởng mạnh hơn và có ý nghĩa thống kê so với nhóm còn lại. Cổ đông của những công ty nắm giữ tiền mặt vượt trội không đánh giá cao chính sách chi trả cổ tức bằng tiền mặt, trong khi đó với nhóm còn lại kết quả chưa rõ ràng và không có ý nghĩa thống kê. Từ khoá: Dự trữ tiền mặt quá mức, các quyết định tài chính, giá trị công ty, vấn đề đại diện, VN. 1. Giới thiệu Trước bối cảnh nền kinh tế VN nhiều biến động và bất ổn từ tác động của cuộc khủng hoảng tài chính năm 2008, khá nhiều doanh nghiệp...
Words: 9301 - Pages: 38
...trading, which include the replacement of assets at some point in time. • By not accounting for inflation, there is no assurance that the entity is maintaining its capital base. • Overstating profits by undercharging depreciation based on historical cost, and charging cost of sales at historical cost of inventories (and not current cost) can lead to the depletion of an entity’s capital through high tas charges and distributions. • While historical cost accounting provides a consistent basis for entities to prepare accounts, inflation affects different products and markets, and hence entities, to different degree. • Historical cost accounting makes it difficult for shareholders and analysis to assess the real performance and abiliry of mamagement because changes to current market conditions are not accounted for in the historical valuation basis. • The true valuation of entities is difficult to assess under historical cost rules. • Interpretation of accounts over a period of time is difficult because each year relates to different...
Words: 290 - Pages: 2
...trading, which include the replacement of assets at some point in time. • By not accounting for inflation, there is no assurance that the entity is maintaining its capital base. • Overstating profits by undercharging depreciation based on historical cost, and charging cost of sales at historical cost of inventories (and not current cost) can lead to the depletion of an entity’s capital through high tas charges and distributions. • While historical cost accounting provides a consistent basis for entities to prepare accounts, inflation affects different products and markets, and hence entities, to different degree. • Historical cost accounting makes it difficult for shareholders and analysis to assess the real performance and abiliry of mamagement because changes to current market conditions are not accounted for in the historical valuation basis. • The true valuation of entities is difficult to assess under historical cost rules. • Interpretation of accounts over a period of time is difficult because each year relates to different purchasing powers. • Key ratios (such as return...
Words: 323 - Pages: 2
...Self Mamagement using the ABC model Self management is a organized approach to achieve academic and personal goals. To succeed academically, professionally, and personally, we need to manage our feelings, behaviors, and thoughts in ways that contribute to our goals. However, before we can accomplish specific self-management goals, we need to be able to identify our feelings, behaviors, and thoughts, distinguish among them, and recognize their interrelationships. Achieving success by managing you ABCs- Affect, Behavior, and Cognition. Using the ABC's you can increase your motivation, save time and end procrastination, improve your grades, strengthen your relationships, communicate more effectively, raise your self-confidence, and increase positive feelings, behaviors and thoughts. In order to use and benefit from the ABC Model we need to be able to think critically and motivate ourselves consistently. We can improve our motivation, time management, study habits, relationships, self-esteem, and other areas of our lives by changing the ABC interactions that comprise them. Whether we are dealing with a particular problem or just trying to improve our well-being, the ABCs are involved. Once we have identified the precise feelings, behaviors, and thoughts, the interactions among them, and determined the component we want to change. Only you can determine the importance of your actions.Friends and family have their opinions, but they dont really know what you truly value. If an...
Words: 475 - Pages: 2
...Employee Training and Career Development Paper Fred B. Whitty HRM/300 July 27, 2015 Samuel Hall Employee Training and Career Development Paper In the majority of great company’s, there is likely an extremely great training and career development program. In order to implement a good training and career development program you will need to have HRM involvement, definition, methods, successes, and the employees needs and wants. To clarify understanding of these, the following will be discuss in detail; the role of the Human Resource Management (HRM), employees career development, the goals and growth of the company depends on the success of the training and development plan. All employees should be looking toward the future and what they may want in their career development. Everyone should have a clear picture and understanding of how training fits into the company. The company training and development crucial to the company’s success. If the company do not grow it will not succeed. In order for a company to continue to grow it must stay current with technologies and practices. Development and training is define by the online business dictionary as”the official and ongoing educational activities within an organization designed to enhancement the fulfillment and performance of employees” (The Business Dictionary, 2012). By this definition, providing employees with continued educational activities. This is how a company can keep employees current and with the most up to...
Words: 1045 - Pages: 5
...Ethical Issues and Management (Hiring) Shirley Scott XMGT/216 October 28, 2012 Craig Fowler Hiring: This paper contains information pertaining to the moral and ethical issues faced by managers, the relationship between social issues and ethically responsible management practices, and my experience in hiring. I would like to note, the majority of information in this paper is information I obtained from other sources. Let me start by saying, the moral and ethical issues faced by managers and how the issues effect other individuals varies in many different situations. According to this article by HR FUNDA, “the challenges which organizations face today are ascertaining the work experience and educational qualifications of employees. The lack of skilled talent and the high pressures to recruit people often means recruiting people who may not be the best suited for the job.” (HR FUNDA December 17 2006). The article goes on to say, “in today’s job market managers are often tempted to put inaccurate details or outright falsify in the hiring process. When that happens, you might find some smart enough or lucky enough to get through and make good on the job, and you may come across an employee who claimed some particular experience that may not be able to perform the competency and skills the profile indicates. How this affects other individuals is, in the future when background checks are initiated, that could cause...
Words: 1159 - Pages: 5
...Demonstrative Communication Shatari Wilburn BCOM/275 November 20, 2011 Joel Maier Demonstrative Communication According to Joey Papa, eHow Contributor, Communication is the essence of life. Communication is a transfer of information from one person to another. Communication can be verbal or nonverbal, written or visual. Verbal communication consists of oral and written information that is transferred into communication. Nonverbal communication consists of facial expressions, body language, eye contact, or gestures. Demonstrative Communication according to N. Nayab (2010, July 26) entails sending and receiving wordless messages. In many known factors, demonstrative communication reinforces verbal communication. There are many elements of demonstrative communication such as, facial expressions, body language, eye contact, or gestures. The elements listed are provided to help not only the sender, but the receiver understand the information that is being provided. There are different types of communication, but demonstrative communication is known to work in face to face conversations with another person, someone who is passing by, or having an intimate moment with your spouse. Facial Expressions Facial expressions are known as nonverbal communication elements to convey communication to the next person. Facial expression communications could be a simple smile, a frown, a raised eyebrow, a yawn, or a sneer. Facial expressions change based on feelings, emotions, or senses. Facial...
Words: 1151 - Pages: 5
...On a day-to-day, business communications must allow and employee to be connected to multiple members of their team. These members must be able to collaborate with each other even when these members have non-traditional schedules and workplaces. Not only must members be able to connect internally but also externally with customers and/or vendors. Members must also be proficient with tools that allow them to create effective business communications. Technology is facilitating access to such communication tools and changing the way businesses communicate. Internal communications are vital to any organization. The most used tools today in business communication today are email and mobile phones. Email is used to connect team members with information and creates documentation of projects being collaborated on by a team. Thru e-mail, a team can communicate in a detailed manner about daily needs from others and update the status of projects or tasks. Mobile phones can connect team members almost immediately. In business the preferred device is a “smart phone.” A smart phone has expanded capabilities aside form making phone calls. These devices give team members’ access to email and text messages. An advantage of text messaging over email is that messages are limited in character count; therefore messages must be more succinct. These tools are a great resource for connecting a few people in an organization, but to connect a larger group other tools exist that are web-based. Intranets...
Words: 1752 - Pages: 8
...2010.10.07. CRM – Customer Relationship Management Bianka Parragh, Phd Óbuda University Keleti Károly Faculty of Business and Management Institute of Enterprise Management • Approaches of Customer Relationship Management • The origins of CRM • The rise of CRM • The role of CRM • Types of CRM 1 2010.10.07. RE-INVENTING CRM In the late 1990s and early year of the 21th century, CRM was offered up as the next wave of marketing. The tools and techniques that would make traditional marketing obsolete. The automated approaches that would make customer relationships automatic and would enable the marketing organization to shell anything to anyone they chose. CRM was the single solution that would solve every marketing problem. Simply install the software, plug in the customer data and sit back and watch the profils roll in. But it wasn’t that simple. It wasn’t that easy. And, it simply didn’t work that way. Millions of dollars anp pounds and yen and Euros were spent on CRM systems, software and structures but, not enough seemed to come back. The five important things are about the book’s approach to CRM 1.Strategic, not more tactics. CRM is a business decision, made by business managers to achieve business goals. So, most of all, this approach to CRM is strategic. 2. Customers, not companies. Payne’s approach puts the company and the customer in perspective. If there is no benefits to the customer, there can be no benefit to the company. CRM is reciprocal process...
Words: 1878 - Pages: 8
...BELLA HEALTHCARE INDIA Project Plan Centennial College Juliana Goes – 300685822 Maria Chernobrovkina – 300675947 Timothy Jogbodo – 300673137 Virendra Sabbanwar – 300677485 PMGT 428 – 103 Bob Xourafas June 18, 2012 Table of Contents PROJECT INITIATION 1 Project Charter |Prepared by: Maria Chernobrovkina |Date: Jun 15, 2012 | |Project Title: Bella Healthcare India | |Project Start Date: Jun 18, 2012 |Project Finish Date: Jul 25, 2012 | |Budget Information: The project’s budget is $ 100. | |Project Manager: Virendra Sabbanwar – +1(647) 721-0678 – vsab@my.centennialcollege.ca | |Project Objectives: | |Choosing an international project topic; | |Receiving approval of the international project topic – “Bella Healthcare India”; | |Elaborating...
Words: 1982 - Pages: 8
...BBE 517 - ERGONOMICS FOR CONSTRUCTION MAMAGEMENT CLASS ASSIGNMENT THE HUMANCAPABILITY AND LIMITATIONS IN LIFTING MATERIALS AT ACONSTRUCTION SITE 17TH NOVEMBER 2014 HUMAN LIFTING CAPABILITY AND LIMITATION ON CONSTRUCTION SITES 1.0 Introduction Ergonomics is the science and art of fitting the job to the workers. There are numerous activities that take place on site that enable realization of the structure being constructed. Generally construction involves the utilization of materials in undertaking the works. This will involve labour of the workers to put in place the materials as per the design are it mixing, lifting and placing them in place, installation, delivery and storage of the materials. Material handling can be by machines/equipment or directly by the workers themselves. Handling and storing materials involves many different activities such as hoisting, manually carrying bags or material and stacking supplies. Employees can be injured by improperly lifting materials (manually and by machine), falling objects and improperly stacked supplies. This paper concentrates on the human ability in the movement and placement of materials and other facilities as work progresses on site. An examination of activities on an active site have been undertaken to inform this paper on the practicability and applicability of researched theories relating to human lifting capability on site. The following sites have been examined and findings discussed later in this...
Words: 2792 - Pages: 12
...1. Introduction 1.1 Purpose The purpose of this report is to determine, discuss and demonstrate how the management of Wal-Mart Stores, Inc. can apply the concepts of organizing and motivating to reach the organizational objective of resolving the ethical issues regarding wages and employee welfare by June 2012. 1.2 Background Vesilind (1988) defined ethics as the study of systematic methodologies which can assist one in making value-laden decisions when one is guided by his or her individual moral values. Hence, one is said to be practicing ethics when he or she is implementing ethical values in decision-making. When managers and employees do not practice ethical values, an organization will face ethical issues. In this report, the organization that is being discussed is Wal-Mart Stores, Inc. In the United States, Wal-Mart Stores, Inc. run large discount department stores and also warehouse stores. Even though Wal-Mart is the largest groceries retailer, the management of it has caused many ethical issues regarding wages and employee welfare as they did not practice ethical values. Wal-Mart Stores, Inc. paid their workers low wages that are even lower than the federal poverty line. Bianco and Zellner (2003) stated that in 2001, documents filed in a lawsuit that is against the corporation showed Wal-Mart sales clerks earned $8.23 an hour, or $13,861 a year on average. The wages is definitely low and insufficient, especially for a family of three, as the federal poverty line...
Words: 3529 - Pages: 15
...Critical examination on the difference between managing a small organization to a big formal organization as an entrepreneur By James Muhowa, Social Science Student Successful entrepreneurs are opportunists who, through their creativity, drive and vision, create economic or social value. They challenge conventional wisdom by practicing disruptive innovation — innovation that creates new markets through the application of a different set of values. They change the rules of the game by questioning the status quo and upping the stakes. It follows that an entrepreneurial organization can be defined as: An organization that places innovation and opportunism at its heart in order to produce economic or social value (Meta, 2013). The entrepreneur shifts economic resources out of an area of lower and into an area of higher productivity and greater yield (Say, 1803) whether a charity or a profit oriented organization, there is a need to use a businesslike approach is the organization is to endure overtime, so should every manager (Armstrong, 2009). A businesslike approach to management is one that focuses on allocating resources to business opportunities and making the best use of them to achieve the required results. All organizations, large or small, are today struggling to develop in an external operating environment which is epitomized by turbulence and uncertainty. Indeed, the natural cycle for most is from this entrepreneurial state, via growth, to protection, atrophy, crisis and...
Words: 4117 - Pages: 17
