...Functional Areas of Business This paper will address a couple of the functional areas of business. These functional areas are the ones that the author feels are of the most interest to them. Also there will be an explanation of what their role as a manager would be in these functional roles. In most organizations, there are several functional areas of business. These areas are marketing, operations management, finance and human resource management. All of these areas work hand in hand with one another so that organization can function effectively and efficiently. These functional areas of business are also known as task that the business needs to do in order for it to succeed. According to Jiang, “what a whole organization needs is to make strategic decisions and put the strategy into action” (Jiang, 02/2). This is what will make the organization thrive and grow. Human resources management is a part of administration. In administration, they do many things that are a necessity within any organization. They collect mail, store and retrieve paper and electronic records, organize meetings, and prepare documents to name a few. Also in the human resources department they work on the staff. This can include recruitment and dismissal, training and development, health and safety, also employee organizations and unions just to name a few. A manager in the human resources department is one of the most important jobs in an organization. They are responsible for taking employee complaints...
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...within Functional Areas of Business Mike Bit MGT 521 5/25/14 Alish Flem Management within Functional Areas of Business Managers are an essential part of any functioning business. They are responsible for the planning and implementation of short and long-term goals, and for coordinating and supervising the work of a company's employees to meet these goals. Regardless of the size of the institution, managers play an invaluable role, as their responsibilities encompass virtually all areas of the business. Due to their complex interworking's, businesses are often grouped into smaller more cohesive functioning units to allow for better functionality. To be successful, a manger has to be diverse and possess a great deal of skills in today's ever-changing workplace. "In a continuously changing environment, for a sustained personal development, an expansion of a person's capacity to be effective in managerial roles becomes vital" Wickramasinghe & Zoyza, N. D. (2009). A manager's responsibilities are quite diverse because the very nature of their job requires that they be generalists with a solid understanding of these different business functions. It is essential they navigate and work within the vast array of business functions to ensure their business is efficient, effective, and able to meet its goals. Leadership The first and arguably most well-known way that a manager can enact influence is through their use of leadership. Managers rely on...
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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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...TOPIC: Describe what it means to be a modern team leader. Describe the different types of teams and critically analyze the challenges modern managers face in contemporary business organizations. Introduction Leadership, it crosses people mind of powerful leaders who control victorious armies, develop religions, lead nations. So how could they do such a great job in leading? What are the factors to become a modern team leader? Leadership is defined as an influencing process of leaders and followers to achieve organizational objectives through change (Lussier & Achua 2010, p. 6). This paper is going to analyze modern leadership and the challenges leaders could face critically in contemporary business organizations. Specifically, the paper starts with the traits and styles of a manager. Leadership Are leaders born or made? It is not easy to say that what the traits of leaders are, but there are some that can outline the differences between leaders from others. The first one is dominance, this does not mean that the leaders are bossy or use a bullying style. They just want to compete and influence. High energy should be the next one, managers or leaders with high energy is willing to work hard. They want to achieve the goal has set and always deal with it in a positive attitude. Self-confidence, every single leader should have. According to Peter Stark (2012) ‘people like to work with leader who are truly confident’, people tend to trust others more when they appear confident...
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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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...organization/department developed to support the project manager in carrying out his duties. Determine the type of project office that exists in your current or past organization and analyze how closely it resembles the model project management offices described in the Kerzner text. If a project office does not exist in your current or past organization, provide a rationale for or against establishing a project office and describe its type. BONUS TOPIC: Change is hard, it is easy to get into a routine. In the week 1 "Instructors Insight" area, I posted an excellent Youtube video on how to study so you don't fail. Watch the video and if you are an over-achiever, the other related videos :). Then specifically state what what you learned about your own study habits and how you are going to improve in this area. The post needs to be substantial (4 to 5 sentences), specific and well thought out AND be sure and put "BONUS TOPIC" in the subject line. Remember, this must be done in addition to your other 2 Quality post for the regular topic. From the scenario, compare and contrast two (2) important types of project organizations. Next, examine one (1) advantage and disadvantage of each type that you have chosen. Support your response with real-world examples of such advantages and disadvantages. It is important that an organization chose the right type of organization that work the best for its goals. Form the scenario, I chose functional and Matrix organization as the most important...
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...Functional Areas of Business University of Phoenix Management-MGTX/521 Functional Areas of Business Business functional areas are considered a person, small groups of persons or a department that perform a specific task in order to support the business. Each of these areas possesses specific capabilities and skills to ensure that the business activities are conduct it efficiently. Business functional areas must have a purpose and its own goal, but ultimately in support of the business. Business or organizations must have a mission and a vision. They must possess a structure and to function must have its most valuable resource, its employees. To achieve its goal must possess a person or persons with skills and capabilities that his sole purpose is to oversee the business operations. We had learned on class a manager is someone that coordinates and oversees the work of other people, so that the business or the organization can achieve its goal. Managers are essential in any business or organization because they lead, mentor, couch, and manage the organization resources. Managers are essential to establish and implement a control and organize operation of the many businesses functional areas. They can be many functional areas in a business or in an organization, but this document will emphasize more in the functional areas of operations and logistics as well as the role and functions of the managers. The operations department or functional area also may...
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...The Role of a Manager in Functional Areas of a Business MGT 521 March 9, 2015 The Role of a Manager in Functional Areas of a Business The employees in a functional area of business have specific roles in the departments to further the goals of the company. The functional areas of a business are human resources, management, law, leadership, accounting, finance, research and statistics, marketing, economics, operations management, and strategic planning. A functional organization structure will group its employees by different skills to put them in the correct functional areas. Business managers perform all activities in an organization, they usually calibrate these activities by skills that the employees have to do their jobs. A manager is a person that leads, plans, organize, and control their employees. “When a company assigns specific functions to employees it will help prevent errors, reduce cost, and ensure work gets done.” (Ashe-Edmunds, 2015). Functional managers lead their departments by planning, organizing, and controlling the functional departments in a business: human resource, administration, finance, accounting, law, economics, operations, marketing, research, leadership and strategic planning. Human resource, legal, and administration is the departments that makes sure the company stays in compliance with state and federal laws, hiring employees, to get employees proper training to do their jobs, and establishes pay scales for employees. Human...
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... ¡ A company’s strategy is a work in progress ¡ Changes may be necessary to react to ¡ Shifting market conditions ¡ Technological breakthroughs ¡ Fresh moves of competitors ¡ Evolving customer preferences ¡ Emerging market opportunities ¡ New ideas to improve strategy ¡ Crisis situations 3 Big Strategic Questions 1. What’s the company’s present situation? 2. Where does the company need to go from here? ¡ Business(es) to be in and market positions to stake out ¡ Buyer needs and groups to serve ¡ Direction to head 3. How should it get there? ¡ A company’s answer to “how will we get there?” is its strategy 1 13/11/13 Goals of “Strategy” ¡ Consists of competitive moves and business approaches used by managers to run the company ¡ Management’s “action plan” to ¡ Grow the business ¡ Attract and please customers ¡ Compete successfully ¡ Conduct operations ¡ Achieve target levels of organizational performance What is Strategy? ¡ Large-scale, future-oriented plan ¡ Used to interact within competitive environment to achieve company goals ¡ Provides a framework for managerial decisions ¡ Reflects a...
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...disadvantages of the functional, matrix, and dedicated team approaches to managing projects? A ) The functional approach : Advantages: • There is no radical alteration in basic structures of the parent organization. • Maximum flexibility in use of staff within functional units. • In-depth expertise can be brought to bear on specific components of the project. • Normal career paths can be maintained. Disadvantages: • Lack of project focus. • Poor cross-functional integration • Slow • Lack of project ownership B) The matrix approach : Advantages: • Flexible utilization of resources across projects and functional duties. • Project focus is provided by having designated project manager. • Specialists maintain ties with their functional group. • Balances project prerogatives with technical requirements. Disadvantages: • Tension between functional and project managers can lead to dysfunctional conflict. • Can create a more stressful work environment due to conflicting demands from different superiors. • Decision making can get bogged down as agreements have to be negotiated between project managers and functional managers. C) The dedicated approach : Advantages: • Does not disrupt basic structure of the parent organization. • Concentration project focus. • Projects tend to get done quickly. • Strong cross-functional integration. Disadvantages: • Expensive creation of project manager role and duplication...
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...1. (TCO A) The most common types of organization structures are _____. functional, autonomous project, and matrix functional, progressive, and matrix framework, autonomous project, and matrix functional, autonomous project, and management 2. (TCO H) This first phase of the project life cycle involves the _____. identification of a need, problem, or opportunity contract negotiations brainstorming of solutions identification of tasks to be performed 3. (TCO B) The lowest level item of any one branch of the WBS is called a(n) _____. object item task statement work package activity node 4. (TCO D) All of the following are risk response types except _____. acceptance transference an opportunity avoidance 5. (TCO F) The two most common types of project reports are _____. progress reports and the contract report weekly and monthly progress reports and the final report update-only reports and status 6. (TCO C) The _____ time is the latest time by which a particular activity must be finished in order for the entire project to be completed by its required completion time. earliest start earliest finish latest start latest finish 7. (TCO G) Which of the following is not a criterion for selecting project management software? Information overload Capacity Ease of use Installation requirements 8. (TCO A) Which of the following is not an example of a project? Starting up a restaurant Creating a website for a company ...
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...(Maslow’s hierarchy pyramid, Alderfer ERG Theory and Herzberg’s duality theory) are applied, by analyzing the concrete individual behavior of an employee in given work situation. In addition, achievers needs based on McClelland are also addressed. At the end, by summarizing the overall particular situation, we are suggesting a proposal based on the findings from several motivation theories, in order to resolve the elaborated motivation problem. In the second case study, we present the organizational structure of a large telecommunication company which fits to classical departmentalization by business functions. We analyze the organizational structure of this company, addressing its weaknesses in a situation when the market is changing fast and rapidly. At the end, we made a recommendation based on Mintzberg adhocracy organization design and the benefits of cross functional teams. Table of Content 1. Abstract 2 2. Case Study I 4 2.1 Introduction 4 2.2 Problem Analysis 5 2.3 Recommendations for problem solving 7 2.4 Conclusion for the Case Study I 8 3. Case Study II 9 3.1 Introduction 9 3.2 Problem Analysis 10 3.3...
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...the nature, duration and time of the practical experience completed, which shall be verified by the candidate’s employer. Steps to be followed: 1. Candidates are to complete a self-evaluation, using the tables provided. Candidates will look at each competency sub-category and asses where their competency should be ranked (i.e. CS 1 (Acquisition), CS 2 (Basic Proficiency), CS 3 (Advanced Proficiency) or CS 4 (Mastery)). 2. For every competency within each function and enabling competency category, candidates are to provide a recent example of how this competency has been demonstrated in the workplace. This will support your overall ranking in each area (i.e. CS 1 through to CS 4). 3. All reports must be verified by your manager, or a CMA who is knowledgeable of your work experience, before submitting this report to the CMA office. The employer is verifying the examples provided, not confirming the competency level at which the candidate is working based on the self-evaluation. Please note: Although candidates must demonstrate they have acquired knowledge and skills from the CMA Competency Map at an overall CS-2 level, it is not necessary that candidates meet the CS 2 level in all areas. The position assumed by the candidate within their workplace will also be considered....
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...9-26-2014 David Austin 581-37-6796 Sec: 02 Date 9-26-2014 Chapter 1 1. A system that provides communication among functional area IS’s is ___? a. Transaction Processing System b. Enterprise Resource Planning System c. Office Information System d. Management Information System e. Expert System Page 18, 29 Chapter 1 2. Which of the following is a way that IT impacts an organization? f. IT increases the number of middle managers needed g. IT makes middle managers more productive h. IT makes middle managers less productive i. IT gives managers more time to make decisions j. IT eliminates the need for managers all together. Page 21-22 Chapter 1 Chapter 1 3. A system that provides communication among functional area IS’s is ___? k. Transaction Processing System l. Enterprise Resource Planning System m. Office Information System n. Management Information System o. Expert System Page 18, 29 Chapter 1 4. Which of the following is a way that IT impacts an organization? p. IT increases the number of middle managers needed q. IT makes middle managers more productive r. IT makes middle managers less productive s. IT gives managers more time to make decisions t. IT eliminates the need for managers all together. Page 21-22 Chapter 1 David Austin 581-37-6796 Sec: 02 Date 9-26-2014 David Austin 581-37-6796 Sec:...
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...Strategic Management By Mashell Chapeyama History of Strategic Management Strategic management has changed since the 1970s. Basically strategic management studies started in the 1950s and 1960s and then evolved along the way to today. Strategic management just refers to the fact that an organization is working with clearly stated strategies to meet its vision. The strategies have changed from the 1970s to now. In 1970s strategic management was mostly centred on the ideas of size, growth and portfolio. This means managers saw the need to seek growth through size and increased portfolio. By portfolio we mean different investment opportunities or diversification. In the 1970s there was emphasis on market growth strategies. The main emphasis was on extending the markets as a means of harnessing more profits. By this time firms were market oriented. Their strategies were to control as much market as possible. Impact of market shares has led to the concept of increased profit based on reaching as many people as possible. There was the need to craft strategies that affected the entire organization not sub units. The need for overall company orientation was important. Strategic planning has changed a bit from that time. The focus has changed. The earlier focus was on growth and market share. Now the focus is on an efficient organization that has greater coordination and viability. The strategies have changed. Companies are no longer market oriented as before. Their focus is...
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