...Four Functions of Management The four fundamental functions of management are planning, organizing, leading, and controlling. Every one of these functions assists in running an organization, and they play a large role in the success or downfall of a business. The duty of every manager is to create an effective and efficient company. It is difficult for a manager to be skillful in all four functions of management. For this reason a company needs to hire skillful leaders, who can achieve successfully all these functions. This paper will define the four functions of management individually and will explain how each function relates to the organization I work for. According to Bateman and Snell (2009), planning requires analyzing the situation, determining the goals that will need to be pursue, and deciding in advance the procedures needed to follow so the goals can be achieved. The success or fail of a project depends on how skilful the manager is in regards to planning. All the four functions of management are important and go hand on hand, but planning serves as a base for any project that the organization will undertake. It is fundamental for a manager to plan ahead and also to take into consideration globalization and technology. I work for a company called Five Star Parking. It is one of the major parking companies of the nation. The company has successfully grown in the last 25 years because of the way management plans, organizes, leads, and controls the company...
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...to the memo the plan will be a flex plan for union and nonunion employees with health and dental insurance options. Mr. Colbert and Mr. Graham have hired S. Caldwell IT Consulting Firm to develop and install a benefit election system to support the tracking and reporting of Huffman Trucking employees. The consultant team will describe the consideration needed to address possible security requirements and describe possible risks associated with the requested benefits election system. The Consulting Team S Caldwell IT Consultants believe their role is to act as an adjunct for Huffman Trucking Human resource department, bringing benefits, knowledge, experience and skills. The team will Perform all of plan management functions needed to ensure an effective and efficient delivery of health and dental benefits election to the employees while focusing on long term financial viability. Security Requirements Employers today have moved away from the old ways of enrolling and administering benefits with paper. Huffman Trucking is ready to use a paperless enrollment and...
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...RANGKUMAN SIM UTS 06PAY PERTEMUAN 1-2 “FOUNDATION OF IS IN BUSINESS” - Sistem adalah komponen yang berkesinambungan untuk mencapai tujuan Informasi adalah data yang telah diolah menjadi informasi yang bermanfaat. Data adalah kumpulan objek yang mentah menjadi informasi Management adalah sbeuah perencanaan dan mengawasi daripada penggunaan sumber daya untuk mencapai tujian bersama. IS penting dalam bidang adminstrasi bisnis dan managmen, serta mendorong kemampuan organisasi untuk memperlancar sebuah bisnis. Apa itu SI? Sekumpulan data dan informasi yang telah diolah, dibuat alat atau sistem untuk mencapai tujuan bersama. Framework dari major area SIM: - Fundamental IS Business: - Trends in IS o 1960’s Electronic Data Processing (EDP) Management Information Systems (MIS) o 1970’s Decision Support Systems (DSS) Roles of o 1980’s End User Computing Executive Information Systems (EIS) Enterprise Resource Planning (ERP) o 1990’s The Internet Intranets and extranets Global networks o 2000’s Business Intelligence (BI) – all applications and technologies focused on gathering and analyzing data/information for strategic business decisions Internet-based/Web-enabled enterprises – dramatically changed the capabilities of IS in business Global e-business and e-commerce – now commonplace IS is now solidly entrenched as a strategic resource in the modern organization - Peran e-bisnis dalam bisnis o E-Bisnis...
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...The Importance of Teams Marleana Reed HCS/325 June 17, 2013 Dr. Marie Gagnon The Importance of Teams If positioned properly within the health care industry great advantage and consumer preference is gained to bolster organizational sovereignty. To do so requires a dynamic plan to incorporate competitive systems, and a workforce of concentrated efforts to overshadow all others. “No Man Is an Island.” (John Donne,) This profound statement can serve as thought provoking cohortative where teamwork is cornerstone to the administration of duties, and project management. This paper details the functionality of processes, for effective teamwork. The Collaborative efforts of teams, benefit any organization, and lead to more successes than not. Teaming serves an additional purpose, whereas participants share experiences, learn to accept and appreciate the contributions of others, while gaining a sense of camaraderie. The organizations goal is to stage teams of workgroups throughout its structure for seamless networking among disciplines. These social interactions promote strengths and talents as significant to individuals as the framework of the team itself. As such, encouragement of individuals in team processes is as much a benefit to the participant as for the organization. Successful team members place into the forefront, the objective, in lieu of a self-serving approach to task, working diligently to accomplish the shared goal. The core values of the organization will be...
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...Organisational control Control: track progress: -employees * Product * Strategies * Goals Control means reviewing, monitor, check * Managers monitor and regulate how efficiently and effectively an organisation and its members are performing the activities necessary to achieve organisational goals. * Managers keep an organisation on track, anticipate events, and change the organisation to respond to opportunities and threats Control systems Flexible because environment change Timely manner: for eg a 6 weeks reviews: will track, check and have reviews * Control systems are formal, target-setting, monitoring, evaluation and feedback systems that provide managers with information about how well the organisation’s strategy and structure are working. * A good control system should: * be flexible so managers can respond as needed * provide accurate information about the organisation * provide information in a timely manner. Example: Bank Input: money, customers, employees Conversion; transaction:debit, deposit, others, loan Output: delivered service, customers staified/ unsatisfied. EG 2: Cars Input: equipment,machines, raw materials, skills, employees, funds Conversion: car assembled Output: car What is control in each part: Input; quality, quantity of raw materials Skills of employees Conversion: -going it in a right manner, time Output: number, did imet the demand, satisfied the customers ThThree types...
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...Communication The word ‘communication’ was gotten from a Latin expression ‘communis’ which implies distribution. Communication involves transmitting information amid people so as to facilitate collective understanding. Conrad and Poole (1998:5) describe communication as “a process through which people, acting together, create, sustain, and manage meanings through the use of verbal and nonverbal signs and symbols within a particular context”. Overtime, the techniques and ways of communicating have developed significantly. In history, hieroglyphics and primordial cave paintings were employed when conveying messages. At present, communication has developed and is quite undemanding. Video chats, Instant messages and the Internet among others make it easy to connect with and communicate with more people than ever before.The major purpose of communicating is to sort the sender’s meaning, interpret the message and proceed based on the interpretation. Communication skills are therefore very important for building good associations and accomplishing success in workplaces. An organization can be described as a set of people working jointly towards attaining a collective goal; they are jointly accountable for their results. Human relations are therefore very important in such a setting. This makes communication the most important tool when determining the course of these relations in the workplace to center on achieving organizational goals and targets. Clearly defining set goals to employees...
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...In retail, both company behavior and consumer’s behaviors affect product prices. Consumers have shown different behaviors and impacts on market prices. In this paper, I will examine these issues. This will show how consumer behavior interacts with market behavior. I will also demonstrate how the use of price is a cue to quality, or can destroy the price-quality relationship. The first thing that I found out, by working at Home Depot is how responsive our market is to a change in price. This responsiveness is known as elasticity. I first learned this term in macroeconomics class. Products like tools, fixtures and lumber are highly inelastic. That is, regardless of whether the prices are raised or lowered, customers continue to purchase them in approximately the same quantities. Customers demand for elastic products do fluctuate with the price. A small change in prices either up or down will result in an increase or decrease in the number of units sold. Good examples of these are electronics, brand name shoes and clothing etc. The more elastic your product then the easier it is to raise your prices without hurting your sales. To increase your profits on highly elastic products rather than raising your prices you might try lowering them. Because although this reduces your profit on each unit sold the resulted increase in sales volume will probably increase your overall profits. I learned this lesson in business finance this semester. When a business sets s a price for their...
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...(IJACSA) International Journal of Advanced Computer Science and Applications, Vol. 2, No. 3, March 2011 93 | P a g e http://ijacsa.thesai.org/ An Electronic Intelligent Hotel Management System For International Marketplace Md. Noor-A-Rahim1, Md. Kamal Hosain2, Md. Saiful Islam3, Md. Nashid Anjum4 and Md. Masud Rana5 1,3,4,5 Electronics & Communications Engineering, Khulna University of Engineering and Technology (KUET), Khulna, Bangladesh. 2School of Engineering, Deakin University, Geelong, Victoria 3217, Australia. E-mail: mash_0409@yahoo.com1, mhosain@deakin.edu.au2, sirajonece@yahoo.com3, nashidzone@yahoo.com4, and mamaraece28@yahoo.com5 Abstract—To compete with the international market place, it is crucial for hotel industry to be able to continually improve its services for tourism. In order to construct an electronic marketplace (e-market), it is an inherent requirement to build a correct architecture with a proper approach of an intelligent systems embedded on it. This paper introduces a web based intelligent that helps in maintaining a hotel by reducing the immediate involvement of manpower. The hotel reception policy, room facilities and intelligent personalization promotion are the main focuses of this paper. An intelligent search for existing boarders as well as room availability is incorporated in the system. For each of the facilities, a flow chart has been developed which confirms the techniques and relevant devices used in the system. By...
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...Project Management 1. Introduction As a discipline and professional subject, project management has gained unprecedented prevalence throughout the world as a consequence of its role in assisting the organization to efficiently utilize limited resources, resolving sophisticated technology and enhancing its survive in the increasingly competitive market. Specifically, implementing project management techniques assists the organization in curtailing the overheads costs, satisfying project deadlines and customizing the project workplace and so forth. Some 4500 years ago, projects had been undertaken with the pyramids construction by the ancient Egyptians, but it is universally accepted that the period of 1950s is an indication of the arrival of modern management era and the commencement of utilizing formal project management tools and techniques (Awan, 2010). Economic pressures of the industrialized world, competition between rival companies and greater regard for the value, well-being and hence the employment costs of working people have all contributed to the development of new project management ideas and techniques. The purpose of this essay is to identify the major developments in the domain of project management over the past five decades and to explain how these historical developments influence the understanding of modern project management. 2. Crucial Developments in the Field of PM and Repercussions on Understanding Modern Project Management Prior to 1950s...
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...Adodis Technologies: Tracking Structural Evolution of a Web-Startup A report submitted to tejas@iimb This report captures the insights derived from the study of internal and external factors of Adodis Technologies along with the interaction between the two and role played in determining structure. This report aims at applying classroom concepts to tackle real life situations in an organization. 1 Table of Contents Abstract 1 Introduction 2 Strategy & Other factors affecting Structure 2.1 Strategy 2.2 Environment 2.3 Stage in the Life Cycle 3 Evolution of Structure 3.1 Problems in the Current Structure 4 Culture and Control 4.1 Preliminary Observations 4.2 Survey Analysis Results 4.3 Team Wise Trends 5 Structural Recommendations 6 Conclusion Author Details Appendix References 2 2 3 3 4 4 5 5 5 5 6 6 6 7 7 8 13 2 Abstract This article contains the brief analysis of the evolution of structure and culture of a rapidly growing entrepreneurial venture-Adodis Technologies, founded in 2008. The vision and mission perceived by the CEO has helped this web technology start-up to quickly carve a niche for itself in the market and to go international within only 3 years of its inception. Low start-up and operational costs for companies operating in the web development area have created an extremely competitive market, in which Adodis is still a new player. Thus, although its primary role and image in the market is still that of a low-cost player, the CEO has been taking several...
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...34 must first improve the effectiveness of corporate boards of directors. And now my dreams. My first dream is that one day some investment analyst will conclude his or her report on Dayton Hudson with something like this: "In addition to its excellent strategic thrust and management strength, Dayton Hudson Corporation Kenneth N. Dayton has a premier concept of governance and a premier board of directors, which together offer the best hope for ensuring the corporation's future. So, if you want to buy a share of stock for your new grandchild, this would be a company to select." When some analyst says that about us-or about any other corporation for that matter-it will, at last, be an indication that the market is beginning to look beyond this year's (or even next quarter's) estimate of earnings. If that day ever does come, it will bring recognition that corporate governance is every bit as important as corporate management to ensuring the future of corporate America. My second dream is that as well as of a number of Minneapolis The Dayton Hudson Corposomeday the capital gains tax will be civic and cultural organizations. He ration is known for its profitable wrote this article before his retirement revised along tbese lines: if you hold a growth as a diversified retailing comstock less than a year, the gain (if any) from the Dayton Hudson board. pany, for its merchandising strategy, will be taxed at ordinary income tax for its objective to...
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...FORMULATION OF ACCOUNTING THEORY: PURPOSE AND APPROACHES A TERM PAPER (2) ON ADVANCED ACCOUNTING THEORY (ACC 821) PRESENTED BY EKERIA, Victor IKYUME, Chiahemba James OGBOLE, Philip Osemudiamen SUBMITTED TO PROFESSOR A.E. OKOYE DEPARTMENT OF ACCOUNTING COLLEGE OF BUSINESS AND MANAGEMEN SUDIES IGBINEDION UNIVERSITY, OKADA MARCH, 2015 Abstract As tasks of accounting became more difficult and focus shifted to users’ needs, a theory became necessary. Existence of a need for information for decision making (decision usefulness) in face of information asymmetry led to development of means, tools and techniques for satisfying decision making needs (formulation of accounting theories) This paper briefly discusses the purpose/importance for accounting theory and various approaches to the formulation of an accounting theory under two headings, namely: (1) traditional approaches, and (2) new approaches. The paper finally highlights the critiques of the accounting theory approaches Table of Content 1.0.0. Introduction……………………………………………………………………………… 1 2.0.0. Meaning of Accounting Theory………………………………………………………… 2 2.1.0. Needs and Purpose for Accounting Theory…………………………………………….. 3 3.0.0. Early Attempts at Accounting Theory……………………………………………………...3 4.0.0. Approaches to the for Formulation of Accounting Theory……………………………….5 4.1.0. 4.1.0. The Traditional Approaches………………………………………………………..5 4.1.1. Non – Theoretical, Practical, or Pragmatic (Informal) Approaches……...
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...PART 1 INTRODUCTION Background information about the client.(would be provided by the saxion research center) The reason for the thesis project and the relevance of the thesis for the client: This thesis seeks to identify how to incorporate sustainability into facility management at Saxion by identifying the needs of international students residing at the University’s accommodation facilities. This thesis will advise Saxion director of facility management on how to incorporate sustainability in its facility management practices in order to minimize life-cycle costs of assets, preserve the environment, and better the lives of employees and other stakeholders such as students, teachers and suppliers. Project objective formulation: The facility management process at Saxion University has no sustainability component associated with it. However, the facility management profession has reached a stage in which sustainability is indispensable. Therefore Saxion University will like to know how to incorporate sustainability into its facility management process. This thesis is to help gain insight, identify, and understand the barriers and gaps which inhibit the inclusion of sustainability in current facility management at Saxion University as well as to provide foundational information on how sustainable facility management can be designed for people from different...
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...Supply Cha S ain Manage nt Pro emen oject ‐ Reta ail Sup Chain at pply C Project Group – Balaji Nag garajan (Roll n no: EPGP‐04A A‐016) Deepak M Mittal (Roll no: EPGP‐04A‐0 026) Kannan S (Roll no: EPG GP‐04A‐044) Mahesh R Rajesham (Roll no: EPGP‐04 A‐115) Mansi Sha arma (Roll no o : EPGP‐04 A‐ ‐051) Dr. Priyan nka Mallick (R Roll no : EPGP‐04 A‐068) Sandeep G Gawde (Roll n no : EPGP‐04 A‐030) SCM Project – Retail Supply Chain at Wal‐Mart Table of Contents 1. 2. I. II. 3. Introduction .......................................................................................................................................... 3 About Wal‐Mart .................................................................................................................................... 4 Operating Divisions ........................................................................................................................... 4 Competition and Regional Alignments ............................................................................................. 8 Components of Supply Chain Management (SCM) ............................................................................ 11 A. Main Elements ................................................................................................................................ 11 4. Wal‐Mart’s Method of Managing the Supply Chain .............
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...Implementing risk transformation in financial institutions Governance and culture Risk transformation can enable a financial institution to elevate risk management from a functional capability to an enterprise responsibility that permeates the entire organization. When that happens, every business, function, and individual becomes responsible for, accountable for, and capable of recognizing and addressing the risks within their purview. Moreover, risk awareness and appropriate risk-related skills can become an integral component of every individual’s responsibilities at every level. In these ways, risk transformation can enhance the organization’s ability to implement business strategies and achieve goals while addressing risks and complying with evolving regulations. This document is one in a series of four on the cornerstones of risk transformation (see Figure 1): • Strategy • Governance and culture • Business and operating models • Data, analytics, and technology As explained in Aligning risk and the pursuit of shareholder value: Risk transformation in financial institutions,1 when these cornerstone frameworks and capabilities are in place, risk management, risk governance, and regulatory compliance can be implemented in a more aligned and integrated manner. Figure 1: The cornerstones of risk transformation What vision drives the Organization? Business Model Operating Model culture What oversight ensures the strategy is executed? ...
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