In: Business and Management

Submitted By harryrandhawa
Words 1634
Pages 7
MGMT704- Section 103



Prepared for


Prepared by

Smita Majumdar 300715287

March 18, 2013

After understanding the goals and achievements of the CEO of Kraft, if I had to rate Irene Rosenfeld on the scale of being authentic, I would score her 9 (nine) out of 10 (ten). Being authentic is a situation where the leader has the whole knowledge about how to dispense work to others through leadership. A leader should be able to understand, what the lacking qualities are and how to meet up the requirement to fulfill those qualities. An authentic leader is the one, who has a purpose behind every doing, believes in long lasting relationship with the employees. Has the power of being consistent and self disciplined that would compel others to follow him or her.
I believe Irene Rosenfeld has great sense to understand her reason (purpose) behind being a CEO; she is a person who knows her passion, her motivation. She first began her career with New York-based advertising agency Dancer Fitzgerald Sample as an associate research director in consumer research, she worked over here for continuous two years and later joined general foods as an associate market research manager in 1981; this made her enter into the food market. General Food was already struggling with the brand of Kool Aid, she realised this as an opportunity and made necessary changes, she changed the strategy of sales by marketing the product directly to kids rather than to their mother. This made her understand the capabilities inbuilt in her. She joined Kraft Food in June2006 as a CEO, looking at this profile of Irene Rosenfeld, it shows that she took her experience in several organisations and then realised her qualities in true sense. She found out her purpose behind joining the company, she is the one who understands the…...

Similar Documents


...Management by objective (MBO) Management by Objective is a tool that allows managers and employees to come together for the purpose of agreeing upon a set of objectives to achieve the company’s short, medium, or long term future ( The theory intrigued me because management by objective theories can help promote a great team. The overall well-being of the company works better with healthy communication between management and employee’s. I currently manage people clarifying their goals and stimulating theory can be a challenge. Management by objective is an essential part of the mangers daily activities. The Theory for management by objective is to improve planning, better understanding between management and employee, participation in the goal setting process, better informed employees, improved appraisal system and better organization of functional task grouping (Ford, McLaughlin, Nixdorf o 1980). The concept of job planning is a key theory of management by objective because it sets a range of performance systems to assist the employees to stay on track ( When you plan you give your employees an expected result from beginning to end. Better understanding between you and your employees is important because if your employee does not understand what is needed from them they cannot possible meet the company’s needs. If the communication is unclear there is room for error Communication is an essential...

Words: 635 - Pages: 3


...Past Influence of Management Today Abstract The past influence of management was done with bureaucracy and Administrative ways that gives management today to achieve their goals for the organization. Bureaucratic management may be described as "a formal system of organization based on clearly defined hierarchical levels and roles in order to maintain efficiency and effectiveness." Administrative has to foresee and make preparation s to meet the financial commercial and technical condition s under which the concerns must be started. How Bureaucratic and Administrative Management Affects Overall Management Bureaucracy Bureaucratic management focuses on the ideal form of organization. Max Weber was the major contributor to bureaucratic management. Based on observation, Weber concluded that many early organizations were inefficiently managed, with decisions based on personal relationships and loyalty. Also, bureaucracy formed the need for organizations to operate rationally rather than relying on owners’ and managers. (Williams’s pg. 31) this brings Jobs are divided into simple, routine and fixed category based on competence and functional specialization. Officers are organized in a n hierarchy in which higher officer controls lower position holders i.e. superior controls subordinates and their performance of subordinates and lower staff could be controlled. All...

Words: 864 - Pages: 4


...What is ‘Management’? In this assignment, I would like to discuss about what management is. In the paleography, "Management" means that "the leadership, implementation of the art"; sometimes means ''to be leadership by using hands". In modern times, "management" can be defined as leadership and management of all organizations. To achieve organizational goals efficiently and effectively, there are some elements must be involved, organizing, scheduling and use of human, financial, material, physical, intellectual, intangible assets or other resources, activities including planning, decision making, organization, leadership and control. A manager is an essential part of a organization, it can be regarded as a person that can directing others to complete and control the works. Management has various names and titles. In the early twentieth century, Mary Parker Follett (1868-1933), an American social worker, management consultant and pioneer, she defined the management as "the art of doing things for people." Management activities have a long history. There has been several thousand years of history of effective management of human activities, but from starting the management practices to form a more complete theory, it is a long process of historical development. As the management concept is multiplicity and ambiguity, the distinction is not only understand from the whole economic environment or a small business, but also because of the time is changing...

Words: 1788 - Pages: 8


...Course Code: C201 Cost and Management Accounting (CMA) 1. Objectives: The course intends to equip students with the ability to apply cost concepts in managerial decision making. At the end of the course, they are expected to have learnt the methodology and techniques for application of cost and managerial accounting and information in the formation of policies and in the planning and control of the operations of the organization. The course covers the nature of managerial accounting; activity costing; marginal costing; standard costing, etc. 2. Course Duration The course will have 45 sessions of 60minutes duration. 3. Course Contents Assignment of sessions to the modules of course is as follows: Module No. | Modules/ Sub modules | Sessions | Marks (Uni. Exam) | I | Cost Management and Cost EstimationCost and Management Accounting OverviewVarious Cost Concepts. Cost Estimation approaches, tools and techniques | 9 | 20 | II | Cost allocation and Job/ batch CostingCost Allocation, Activity Based and Target CostingJob and Batch Costing Introduction to the concept of operating costs | 9 | 20 | III | Costing MethodsOperating Costing. Process Costing and Joint and By product Costing. | 9 | 20 | IV | Management ApplicationsMarginal (Variable) Costing and Absorption Costing Decision Involving Alternative Choices and Pricing DecisionsMake-or-Buy | 9 | 20 | V | Planning, Control and Decision MakingBudgeting and Budgetary Control...

Words: 4490 - Pages: 18


...Coordinating Public Debt Management with Fiscal and Monetary Policies: An Analytical Framework 1. Introduction There is growing consensus that public debt management should be integrated into a broader macroeconomic framework of analysis, but to date, there is little literature that places it into a coherent analytical framework. Following Anderson (1999), Wheeler (2004) and Jensen (mimeo) this paper proposes a sovereign asset and liability management (ALM) framework for integrating debt management to the overall macroeconomic framework of analysis. Existing literature on optimal fiscal and monetary policies is well established. However, they have largely been developed in isolation (see for example, Chari and Kehoe, 1999, Blanchard and Fisher 1989) or where their interactions are examined, such as Sargent and Wallace (1981, 1993) the focus has been on the consequences of uncoordinated policies. The literature on debt management, on the other hand, has mostly developed in support of fiscal or monetary policies:2 for example, Barro (1995) identified the role of debt management in tax smoothing, and Calvo and Guidotti (1990) identified the role of debt management as a commitment device in ensuring a time consistent monetary policy. The objective of this paper is to fill the gap in the literature and to establish public debt management as a separate policy with a different objective from those of fiscal and monetary policies, and to integrate public debt management into a......

Words: 282 - Pages: 2


...Four skills Managers must possess 1.Political skills Political skill is a "good predictor of job performance,". Someone with political skill is adept at influencing others, others' opinions of the person's abilities may be based more on perceptions than on actual performance. Political skill affects promotions, compensation and job survival. e.g. [pic]Wladimir Janousek -Operations Manager at Foxconn Specialties: -Expert in business process transformation and management. -Deep knowledge of Mercosur, PPB (Brazilian Incentive Law) Taxes and other fiscal regulations. -Expertise in outsourcing support, manufacturing, re-manufacturing and distribution functions. -Flexibility, results driven, strong leadership, negotiation and interpersonal skills. 2.Technical skills Technical skills include knowledge of and proficiency in certain specialized field, such as engineering, computers, accounting, or manufacturing. These skills are more important at lower level management since these managers are dealing directly with employees doing the organizational work. [pic]Toma Kim(Korean) -Project Manager at Foxconn Specialties: -Strong organizational, communication skills. - Excellent planning and coordination skills. - Proficient in Mandarin Chinese and English (both oral and written),Good spoken Japanese. - High level of understanding in China culture and business practices. - Proficient in computer including Power Point, Excel and Word 3.Interpersonal skills...

Words: 333 - Pages: 2


...Management: An Overview Why organizations need managers Organization = an group of people managed by one or more people Managers = people who oversee the use of resources (“resources” include employees) Management = the people in the organization who set and achieve goals by exercising management functions (planning, organizing, staffing, leading and controlling) Goal = the outcome to be achieved Customer Relationship Management (CRM) allows organizations to • track and analyze shifting needs of the customers • link marketing campaigns to sales results • monitor sales activities for improved forecasting accuracy How managers lead • Manager demonstrate an ability to get people to follow voluntarily. • Managers exhibit a set of values, skills, abilities, and traits that employees need. • Managers gain commitments from employees to achieve the company’s goals. • Managers prepare subordinates (employees) to accomplish goal. Other managerial functions Managers create an environment to improve performance, reduce conflict, and encourage individual growth. • As monitors, they observe operations and employee behavior. • As liaisons, they build contacts to interact with all levels. • As information disseminators, they pass on information to subordinates. • As spokespeople, they represent the work unit to other units. • As entrepreneurs, they share new ideas that may improve the work unit’s operations. • As disturbance handlers, they resolve problems that decrease productivity. • As...

Words: 516 - Pages: 3


...Join us for an informational meeting SumMer Study Abroad Program February 6th at 2 pm STellar Building, Room 215 We’ll have snacks, so bring your appetite! Join us for an informational meeting SumMer Study Abroad Program February 6th at 2 pm STellar Building, Room 215 We’ll have snacks, so bring your appetite! Management is a necessary evil of any business. It provides the leadership and administration that will ensure that the organization runs the way that it should. According to the online business dictionary (2011), management is defined as the organization and coordination of the activities of an enterprise in accordance with certain policies and in achievement of defined objectives. It is the process of using organizational resources to achieve organizational objectives through planning, organizing and staffing, leading, and controlling. Management is an essential factor of production along with machines, materials, and money. As a discipline, management consists of the interlocking functions of formulating corporate policy and organizing, planning, controlling, and directing an organization's resources to achieve the policy's objectives. Management can also imply the directors and managers who have the power and responsibility to make decisions to manage an enterprise.Management is a necessary evil of any business. It provides the leadership and administration that will ensure that the organization runs the way that it should. According to the online...

Words: 331 - Pages: 2


...Participative Management One of the most important assets in a business is human capital. The potential success of a company relay on its employees from top to bottom of its hierarchical structure. A company needs to achieve maximum output out of its employees both physically and intellectually. Employees tends to give more output when they are motivated. A successful organization can generally trace its success to motivated employees. One of the methods for motivating the employees is employee involvement. Participative management is also known as participative decision making or employee involvement or industrial democracy. In participative management, stakeholders at all organizational levels are invited for the analysis of the problems, development of strategies, and implementation of solutions. The employees are encouraged to take part in decision making process of the firm by participating in the activities like goal setting, work schedule determination and suggestion making. Apart from involving employees in the decision making process, it treats their ideas and suggestions with due respect and consideration. Employee ownership of the company is the most extensive form of participative management. Participative management helps to improve work practices, organizational performance and productivity. It encourages its employees to play important roles in the organization and to convey their ideas and messages to the mangers or to the top level. It is regarded as a...

Words: 1517 - Pages: 7


...Introduction to Management Control Systems: Nature of Management Control - Purpose of Management Control Systems - The Organizational Context of Managerial Control Systems - The Formal Systems - The Informal Systems - The Subsystems and the Components of Control Systems – Use of Information Technology on Control Systems Designing the Control Process and Managerial Controls: Introduction - Schools of thoughts in control (contingency approach, Cybernetic Approach,Management control process approach) - Designing Management Controls - The Control Process Hierarchy - Communication and Reporting Structures in the Cont rol Systems. Key Success Variables and Measures of Performance: Identification of Key Success Variables - Key Success Variables and the Control Paradigm - Performance Indicators - EVA, Profitability measures. Design, Style and Culture of Control Systems: Managerial Styles and the Design of Control Systems - Corporate Culture and Control Systems - Establishing a Customer- Focused Culture. Organization Structures for Adaptive Control: Different types of organization structures and control implications – Role of Controller in different organizational structures – Structural requirements for an Adaptive Organization. Autonomy, Responsibility and Performance Measurement: Divisional Autonomy - Style and Processes of Management - Responsibility Structure - Overall Effectiveness Measures - Standard Cost Center - Revenue Center - Profit Center -......

Words: 254 - Pages: 2


...Ref: Management , Seventh Edition By Stephen P. Robbins &Mary Coulter INTRODUCTION TO MANAGEMENT CONTENT Who Are Managers?  What Is Management?  Management Functions and Process  Management Role and Skills  How is the manager’s job changing?  Rewards and Challenges of Being a Manager  Summary  WHO ARE MANAGERS?     Someone who works with and through other people by coordinating their work activities in order to accomplish organizational goals Coordinating the work of a departmental group / supervising a single person Coordinating the work activities of a team composed of people from several different departments People outside the organization such as temporary employees or employees who work for the organization's suppliers. Levels of Management WHAT IS MANAGEMENT ?  The process of coordinating work activities so that they are completed efficiently and effectively with and through other people.  The process represents the ongoing functions or primary activities engaged in by managers.  These functions are typically labeled planning, organizing, leading, and controlling. (POLCA) EFFICIENCY AND EFFECTIVENESS Efficiency refers to getting the most output from the least amount of inputs.  Effectiveness is described as "doing the right things"  Efficiency (Means) Resource Usage Low Waste Effectiveness (Ends) Goal Attainment High Attainment Management Strives for ; Low Resource Waste (high efficiency) High Goal Attainment (high effectiveness...

Words: 686 - Pages: 3


...Alicia Burns ‘15 MGT 2240.02 Reaction Paper September 8, 2011 Moon Shots for Management From reading the Review Moon Shots for Management written by management guru Gary Hamel, I was able to extract various different practices businesses and companies can use and adopt in order to survive in the 21st century and how management in general is not was it was in the 19th century. The practices that were outlined in the review paints a clear picture of what management is doing wrong today and how they can counteract these problems. However, I do believe that in order to reinvent management we must begin at root problems, brainstorm ideas that are central to the subject at hand and then decide whether these practices are beneficial to companies in today’s economic sphere. Moreover, through their insightful and innovative ideas, Gary Hamel, various scholars and other business leaders in this review have suggested a road map for reinventing management for the future and focus on what needs to be done. What would it take to create organizations that are nimble and innovative enough to flourish through the 21st century? The answers that were presented allow us to see that the practice of management has to change from what it is to what it can be. In addition, I believe that the reinvention of management is not an easy task and as a result, it is everyone’s business to work in a collaborative manner as the review suggests in implementing some if not all of the practices that...

Words: 515 - Pages: 3


...• Explain why managers are important to  organizations  • Tell who managers are and where they work  • Describe the functions, roles, and skills of  managers  • Describe the factors that are reshaping and  redefining the manager’s job  • Explain the value of studying management  Management, Eleventh Edition by Stephen P. Robbins & Mary Coulter ©2012 Pearson Education, Inc. publishing as Prentice Hall 1-1 Why are Managers Important?  ©2012 Pearson Education, Inc. publishing as Prentice Hall ©2012 Pearson Education, Inc. publishing as Prentice Hall 1-2 ©2012 Pearson Education, Inc. publishing as Prentice Hall 1-4 Who Are Managers?  • Organizations need their managerial skills and  abilities more than ever in these uncertain,  complex, and chaotic times.  • Managerial skills and abilities are critical in  getting things done.  • The quality of the employee/supervisor  relationship is the most important variable in  productivity and loyalty.  Management, Eleventh Edition by Stephen P. Robbins & Mary Coulter Management, Eleventh Edition by Stephen P. Robbins & Mary Coulter 1-3 • Manager  –    Management, Eleventh Edition by Stephen P. Robbins & Mary Coulter Classifying Managers  Exhibit 1‐1: Levels of Management  • First‐line Managers ‐ Individuals who manage  the work of non‐managerial employees.  • Middle Managers ‐      • Top Managers ‐ Individuals who are  responsible for making organization‐wide...

Words: 1036 - Pages: 5


...1. It is a cultural attitude marked by the tendency to regard one’s own culture as superior to others a. Geocentrism b. Polycentrism c. Ethnocentrism d. Egocentrism 2. It is the systemic study of job requirements & those factors that influence the performance of those job requirements a. Job analysis b. Job rotation c. Job circulation d. Job description 3. This Act provides an assistance for minimum statutory wages for scheduled employment a. Payment of Wages Act, 1936 b. Minimum Wages Act, 1948 c. Factories Act, 1948 d. Payment of Gratuity act, 1972 4. __________ is the actual posting of an employee to a specific job a. Induction b. Placement c. Attrition d. None 5. Broadening an individual’s knowledge, skills & abilities for future responsibilities is known as a. Training b. Development c. Education d. Mentoring IIBM Institute of Business Management 1 Examination Paper of Human Resource Management 6. Change that is designed and implemented in an orderly and timely fashion in anticipation of future events a. Planned change b. Technology change c. Structural change d. None 7. It is a process for setting goals and monitoring progress towards achieving those goals a. Performance appraisal b. Performance gap c. Performance factor d. Performance management system 8. A method which requires the rates to provide a subjective performance evaluation along a scale from low to high a. Assessment centre b. Checklist c. Rating scale d. Monitoring 9. It......

Words: 336 - Pages: 2


...Principles of Management Course Number: BUS 1001-5 Course Name: Principles of Management Class meeting times: Wednesday 10:00-11:00 AM, Friday 9:00-11:00 AM Class Room: Chinrigwan 303 Instructor: Darshana Karna E-mail: / Background Principles of Management is a compressive introductory course on the management process from a manager’s perspective with particular emphasis on the skills, competencies, techniques and knowledge needed to successfully manage an organization. It focuses on the entire organizational form both a short and long-term perspective to from a strategic vision, setting objective, crafting a strategy and then implementing it. This course examines the logic and working of organizations. It also investigates how organizations develop and maintain competitive advantage within a changing business environment influenced by political, economic, social, technological, legal and environmental factors. The course content is organized around the four pillars of management viz. planning, organizing, leading and control for systematic understanding of management-related challenges and applying conceptual tools and techniques in analyzing, evaluating and addressing management issues. Course serves as the first course for management majors in the discipline of management. Course Learning Objective This course ensures that the student understand how  managers mange business organization in the...

Words: 1136 - Pages: 5