Essentials of Management - Essay Example

?Essay Questions Essentials of Management Delegation ity is one of the areas of the greatest concerns for the current crop of Managers. Basically, in order to do a job efficiently, the Manager has to ensure that utmost amount of concentration is paid to the fulfillment of all the jobs. Therefore, the manager has to give certain amount of authority to the subordinates. This particular process is called as delegation. However, Managers are loathing delegating the authority due to a host of reasons. The primary problems with the delegation process are the loss of power, the chances of insubordination, loss of accountability and the chances the work may get delayed. These are the various problems of the delegation. Once the job has been delegated, the Manager may fear that the individual may not perform perfectly either due to the lack of resources, money or senses of responsibility. This may ultimately affect the KRA’s of the manager; the other issue may be the insecurity that is present among the managers. The individual who has been entrusted with the job may go on to outperform the Manager. Thereby, these are the problems faced in the delegation process. There are various steps that can be taken to overcome these problems. The main steps are the infusion of responsibility in the individuals to deliver the work on time, and not to have any amount of insubordination. This can be accomplished by the creation of a proper work culture wherein there is an intrinsic sense of responsibility among the individuals. Also, the individuals should be accountable to the work that is performed by them. Building trust in the virtual teams The process of building trust in virtual teams is a multifarious process with multiple layers involved. The steps that I would take to maintain trust are a lot of online meeting between the members so that they can come to know each other. This would mean that a lot of online transactions should be maintained in order to have the optimum level of trust to be maintained among these members. Another important aspect is the acceptance of the cultural differences between the members. Thee should be a lot telephone calls, online chats , video conferencing and common brain storming sessions over the internet. The other important factor is that the members have to complement each others abilities to build up the trust. Business Research Methods Research question- Should the performance bar of a company be constantly raised at the cost of rising levels of stress and attrition? Analysis-In order to survive the current market, the organization should always keep on evolving and changing that would basically mean that the structures are being organizes in such a manner that there is continuous growth in the organization. It should also ensure that the performance levels are always on the top. Given the current levels of the employee attrition and the stress levels, should such a strategy be actively followed within the company Methodology - Data sampling is of primary importance here, the main strategy that has to be adhered to is the population sampling strategy. The sampling frame has also to be fixed since we are dealing with extremely large sensitive amounts of data, the proper identification of each and every individual involved in the data set is extremely important. The type of sampling that has to be followed here is probability sampling. This is extremely important in the light of the data that is being investigated. The chances of the selection of each entity in the sample should be more than one. The subdivision of the sampling frame applies is the stratified sampling. The stratified sampling is used to divide the population into the necessary subsets for the analysis. The dependent variables are the frequency of the distribution randomness of the population set, the methodology segregation taken and the variability of the stratified data. The independent variables are the designation, the work level and responsibilities Understanding- The method of the data collection is basically through the method of questionnaires and interviews. The research design used is the survey research design and the type of data collected is ordinal. This is the most reliable method of data collection as the methodology followed is that of stratified sampling. Conclusion- It can be concluded that the, it is in fact a Management Dilemma that the increase in work pressure causes a lot of stress among the employees. It has also been confirmed through the sampling method that the tendency to quit increase among the employees if the bar of performance gets constantly raised. Management Accounting and Control A corporation is a legal entity created under the laws of the state considering a group of individuals as shareholders. It can be treated as a person who is separate from the rest of the group and can conduct business on its own. The advantages of a Corporation are basically as follows Advantages Liability is less Tax Benefits are in the corporate manner Attractive Investments can be made Incentive structure in place Perpetual Entity and existence Shares can be easily transferred Disadvantages Fees is involved Legal Formalities A large amount of paperwork Disclosure of the complete operational entity including the officers , and other people Tax issues The partnership is an entity in which the amounts of individuals transact among themselves without the formal constitution of a body. The advantages of the partnership are basically less paperwork, less funds, easy structure, simpler capital structure Given the current situation, it is advised that they both forma corporation because the amount of funds are different among the. This may create a lot of issues in the future over the allocation of the profits. Secondly, they also become personally liable to lawsuits. Thirdly, they can bring in their own independent advisors to solve any issue. Given, all these circumstances, it is advises to go for a corporation. MIS (Management Information Systems) The push system is very different from the conventional types of the marketing that is used. This is also a blatant invasion of privacy. The profile of a customer is an extremely private thing and should not become public knowledge to anyone. Secondly, any fliers or other conventional means of marketing do not intrude on the personal space of an individual. Secondly, the target base is also very large .therefore, there is almost or no profiling done here. One of the biggest allegations against marketing is that it creates demand. It could also happen that an individual may not need something, but on seeing the advertisement may be insinuated into buying the product. So, the option of opting out of it should be there. It should be the decision of the customer only to decide whether he wants to go to a particular store. Buy a particular product or any other offering. Bringing in the space closer would mean that thee is the infringement of privacy. Contract Management and Administration The result –In all probability would be that the Ajax Aircraft Company shall lose the contract the reasons are very simple and obvious. For years, they had followed a particular cost structure. The cost structure was also known to the authorities under the disclosure Act. Now, the sudden reversal of the cost structure meant that something was not right. Therefore, the authorities may allege that the sudden changes were made to incur the maximum profit out of the current transaction. It also goes against the precedent that had been set by the company. Case 1B and 1S 1. The assumption of both the parties are basically as follows: Executive Desk Company the desks are of the highest quality there is no issue with the gloss and the finish they cannot lose a client in that spectrum remedial steps have to be taken in this regard Chrystal clear Television Company desks are not of the similar finish they are not of the best quality gloss and finish re-inspection and the production should be done 2. Both the companies would go into the negotiation knowing the situation full well. The furniture Company wants more business from that client and wants to penetrate that particular sector. From, that aspect the Chrystal clear works company is in a strategically advantageous position. The tactics and the strategy that may be uses by the furniture company is collaborating, compromising and accommodating, This is all the more important given the current situation, where already certain amount of the delivery has been made to the client. On the other hand, ChrystalClear Works shall work in a competitive manner because they have the upper hand in the negotiation. According to the negotiation theory, a partner approach shall be used here. Te minimum negotiation point for the furniture company shall be the continuation of the deal at the same prices to get a future contract. The other extreme could be the use of renegotiation to get better prices for the company. For the Chrystal clear company, the strategy would be to get the get the prices lowered or at least maintain them at the same level. 3. The result of the negotiation would go into the favor of the Chrystal works Company. The reasons are simple because they want to grab the contract and would want to convince Chrystal Clear on all the fronts. Another point also, being that some of the materials have already been transferred. Contract Administration Problem 1. There is an alternative option of me unilaterally fixing the final price. According to the friend or adversary model of negotiation, if during the negotiation phase the opposing parties are hostile towards each other, then proper amount of due deliberation has to be done before conclusion is reached. The cost figure can be arrived at by following the formula of compromise negotiation and thus arriving at the formula that is good for both. 2. The cost item regarding the advertising and the reworks can be allowed. This is because; both are legitimate and make proper business sense to be kept there. 3. There are two alternatives to this current problem. First, both parties should sit across the table and re-negotiate over the prices and see at the best pricing figure that can be arrived out of this. The second option is that the complete current pricing model should be scrapped and a new structure be formulated with the consent of all the participating groups. 4. No, there is no reason to be concerned over this particular development. Case Problem No 20 The argument given by Boeing is partially correct. Under the light of the law, it is in concordance with the internationally accepted convention or rule. The Government can sanction the use of the patented product by another third party provide it fulfills the basic two conditions. The use of the particular product shall be for the welfare of the general public. The reason should be so magnanimous so as to subvert the Intellectual Property Rights of any individual or a company The product shall be completely for the non commercial use and in no way shall go on to harm the long term interests of the original creator However, it must also be maintained and mentioned that the government or Government Agency should pay a significant amount for the usage of the services or the patent to the original creator. So, when the original creator of the design, Gulf Stream asks the question regarding the usage of the product, they are absolutely correct in their stand. No, liability lies with Boeing in this case and they are also correct in referring the case to Air force. But, they are not correct in totality because, although Air Force (being a Governmental Agency), has the power to authorize the usage of a patent, it has to ensure that the requisite compensation has to be paid to the original creators, which was not done in this case. Wage Rate Analysis Exercise 1 1. Yes, I agree to the wage rates that have been proposed by the contractor. 2. The breakdown of the wage rate should include the parameters of wage according to the specialization, the conveyance part, the education, the skill levels and the complexity of the task. Exercise 2 1. The weighted average method can be used when the weights to be used for the particular job are clearly defined and the parameters are properly set. Secondly, this particular method cannot be used for percentages but can only be used for proper weighted ratios where the parameter is defined. Exercise 3 1. Yes, the figure is acceptable. This is because the numbers of hours do not have much deviation and are almost similar. Secondly, the deviation of the wage rate is also not much 2. In the second case, the figure is not acceptable, because the number of hours show a lot of deviation from the earlier mean figure and the dispersion in the wage rates are also higher. Thereby, this cannot be used. Case Example 7 1. The discussion between Mr Murray and Mr Atkins is a typical example of the general discussions that takes place between two individuals over the bargaining table. The other interesting factor here is that, both the individuals have their own agenda in terms of the discussion. The discussion starts on a negative note with none of the parties opting for a reconciliation formula in between. Even at the end of the discussion, both the individuals stick on to their respective points of view. 2. The justification give here is not reasonable. The reasons for the justification not being proper are basically two in number. First, the current situation demanded the addition of a few parts and was not a total order in itself. Secondly, each order is unique and cannot have a standard rate for all. The rates of each order shall be judged on the merit of the individual orders. 3. In the process of negotiation, precedent plays a very important role. The precedent can be used as a bargaining tol so as to gain a competitive advantage in the bargaining process. In between the two parties, if a precedent is in existence, then it can become a point of reference for the individuals for the person for whom the precedence is in favor. 4. There are a number of ways in Mr Murray can act. He may report this particular issue to the superiors of Mr Akers and try to get a revised rate. He may do that himself or may contact the other officials to do it. Secondly, on a more aggressive note, he may try to get the contract from some other Firm, or at least threaten to do so to see if Mr Akers concedes to his demand. Sealed Bidding The central problem here is the non delivery of the package to the designated location. Looking at all the parameters here it can be said that the complete fault does not lie with the company that was bidding. Although, the letter was addressed properly, it went into the wrong area. Secondly, the proper location was addressed by the individuals. The carrier people did not take due diligence in the delivery of the materials. Also, the important fact here is that, whenever a mail that is addressed for a particular place and is not delivered to that place, it has to be placed in a central tub. Thereafter, it shall be delivered to the due address. In this case, this particular process was not followed and that resulted in the late delivery of the package. Therefore, it can be stated that the proper methods were not followed by both the carrier and the handler. So, Smith is right in protesting and its bid should not be cancelled. Integrity case In the first scenario, it can be seen that the individual has not subjected himself to the indecent proposal made by a contractor or the person holding the private office. His moral viewpoint is right in chastising himself for being so approachable to be paid a bribe by someone else. He also ultimately reports the matter to the special investigating officer who directs him to play along and see the results that follow. But, it has also to be seen that the particular individual did not say anything that referred to the direct rejection of the bribe. Therefore, under such a circumstance, the person who offered the bribe may argue that he has done nothing wrong and maybe was just engaging in small talk. The scenario two is a more of a common place scenario, wherein, the individual tacitly accepts the bribe. From the moral view point, this as an extremely wrong decision as it exposes the loose moral framework of the individual. However, in most of these cases, the individuals in question would exhibit such behavior. The scenario three is the best scenario according to me. Objectively speaking, the individual should state rethinking about the type of non verbal communication that he shares with his fellow mates. He should recapitulate anything that he must have said that prompted this kind of behavior from the other guy. Even if the matter is reported, sufficient headway cannot be achieved in this particular case because the offer was never made in a direct manner and may become very difficult to prove in the house of law. 2. Basically. None of the laws have been broken here. Although the individual was tacitly approached for a bribe, nothing was asked directly. 3. The officer should report the matter to the office of special investigations and should ask them to keep a discreet eye on the guy as well as the other people that perpetrate such behavior .but; his direct refusal of the offer may have been perceived as a tacit approval by the person and may go against him. However, the other more plausible approach is also to report the matter to the boss or the Reporting authority of the contract, in this way, the people in his office will come to know about the unethical practices being practiced by him to generate the business. A third option would be an anonymous tip off about this individual to the appropriate law enforcement agencies, so that they take the adequate steps against him. Case Example 3 1. There is no contractual merit to the claims of the Lenox. The reasons are manifold and simple. First, if the particular cause of contention was not clear then that should have been clarified at the time of the contract signing. Secondly, the contract did mention that the tests should be done at one hundred and twenty five percent of the operating load. It was only case of the necessary clarification to be done on the part of the individuals so as to quantitate the process. Thirdly and most significantly, if the change in the clause meant a increase in the operational costs, then tat should have been mentioned exclusively at the beginning and not at the acceptance of a considerable amount of the shipment had transpired. 2. If NASA. Refuses to act on this increase, than Lenox may take recourse to law. However, as explained in the earlier answer; such a step will not yield the necessary results in the greatest probability due to the ambiguity involved. On a brighter note, if at all both the parties take consideration and go on the legal recourse. They may also settle for arbitration or out of court settlement that may result in the legal process to be cut short. 3. Mr Covington has exhibited a considerable lack of foresight in analyzing this particular scenario. The steps that he may have taken to stall such an action are as follows. During the phase of framing the negotiation, the clause that the prices are not negotiable at any point should have been included. It should also have mentioned that in the case of any of the parameters of the production being unclear, the production part could not ask for spike in the prices. Secondly, when the clarification was taken, it should have been mentioned at that time that no amount of increased compensation shall be given in this case. it should have been clearly said that the above process was a part of the original deal and that NASA was not responsible for any further compensation, if any Thirdly, it could have been mentioned that the prices, once fixed are non-negotiable at any point of time (even I the event of a lawsuit. This would deter the organization from taking any drastic step like asking for a hike in the prices. PERT Evaluation Report 1. The evaluation report is a vivid account of the various cost structures and the associated data. From the objective point of view, this particular report looks highly rudimentary without the requisite technical specifications. The stress on the first part of the report has been highly subjective with zero analysis being put on the analysis aspect of things. The report should be more descriptive about the role of the consultant and the ensuing issues. Even, the numerical breakdown of the cost structure is very simplistic and does not look into detail the necessary percentage aspects of the data. 2. The strengths of this particular request are basically as follows It exclusively defines and makes visible dependencies among the various parameters It identifies the critical path and helps in the analysis of the data There is a semblance of idea about the early start, the late start and the perfect start on the state of things A large amount of the data has been organized in a small space here. 3 The weaknesses of this particular technical proposal are as follows The dependency among the parameters has not been explained. The assumptions are unwieldy and missing that do not give a proper idea about the necessary parameters The lack of timeframe is a lacuna in this report. The technical details should have been more descriptive in this particular case. 4. The weaknesses can be rectified by putting in more of the technical specifications in the proper order. Secondly, the data in many places is highly qualitative and does not take into account the necessary technical and the numerical parameters. The timelines have not been properly mentioned and the breakdown of the cost figures can be made more subjective. Defining and Evaluating Work Design for Contract Performance 1. Planning assumptions Anticipated problems- There are a lot of problems that have been anticipated in this particular case. The primary problems that could be encountered here are the extended working schedules that go well ahead of the schedule at hand. The availability of the materials that are critical to the completion of the project is also an issue. The other problems are the amount of testing time required, the costs of the production of the model that is almost twice the current cost of production of the current model. Over that, certain production delays have also been factored in. Anticipated technological changes- The current model that would go on the production floor shall see a lot of changes when compared to the current model present. The design has been rebooted technologically to suit the needs of the new model. There has also been the inception of computer aided design technology that would completely change the way that the production is being done. Potential Interruption and shortages- The interruption and the shortages that have been factored in are also quite substantial in nature. There are anticipated delays in the production stages also which include the lack of the essential materials during the production stages and technological problems that may come through during the production phase. 2. The potential viability of the current project has to be studied in detail in order to ascertain whether an individual can go ahead with the production and delivery of this particular item in discussion. There were significant problems encountered during the production of the last phase of the materials. Currently, also problems may be encountered. The extent, scope and the possibility of the same should be studied in detail so as to ensure that the proper utilization of these resources The costs of the production, design and the testing of the current model is almost twice of the previous model. Therefore, a thorough viability study should be performed to understand whether the technological specifications are correct as well as the worth of the money being invested here. New computer aided design is also being implemented here for the advancement in the technology in the current case. However, the increase in the production time, the higher lag phases as well as the costs are contradictory to the current model that is supposes to be followed here. The model could also encounter material shortages due to the kind of the material that is being used here. Therefore the recommendations that I would like to make here are the inclusion of CBA (Cost Benefit Analysis) to be done as well as the assessment of the proper risk parameters. The concentration of the total risk should be alleviated from only one parameter and should be evenly distributed among all the participative parameters. The current model also envisages the usage of the computer aided design tool. A viability study of the computer aided design tool should be done to ascertain the feasibility of the usage. Conditions should be changed such that the time of the production comes down significantly from the current period of production. Last but not the least, it should be tried to build the model with more available material such that the project does not get critically endangered in the scenario of the materials not being there. Another possibility could be the identification of alternate materials that could be used in this process. Read More