In organizations, management is a crucial part. This is because effective management contributes greatly to the success of any business irrespective of the nature of the business. The most critical functions of management are controlling, planning, leading and organizing. …
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These functions are performed by all the managers at all levels of management and irrespective of the nature of the business. Organizations upgrade their management system with an aim of gaining competitive advantage over other organizations in the industry. Success or failure of an organization is directly connected to the effectiveness of the management team.
For an organization or business entity to gain a competitive advantage over others, it has to strategically manage its affairs. Strategic management is aimed at improved returns, maintain operations and contain the prevailing competition in the market place. Basically, strategic management is aiming at adequately responding to the uncertainties, changes and adapting to the market demands. Therefore, when an organization strategically manages its affairs, it may gain a competitive advantage over other companies. Competitive advantage is gained only if the strategies developed by a company are expensive for or cannot be adopted by other companies in the market. An organization that strategically manages its affairs may gain and maintain competitive advantage which is essential for the survival of a business despite the market changes (Smith, and Conners, 2009, pp 34-78).
For instance, Euro Disney is of American origin but considered one of the largest companies in Europe. The company was initially formed in the United States but after successful operation for several years, it opted to grow to other regions in Europe. This led to the company growing from a domestic to international company. It is an international company hence operates several business entities in the region among them the Disneyland resort Paris. The site comprises of several components such as the discovery land, fantasyland, adventure land, frontier land and main street USA. The company also encompasses of a 27-hole golf course, Disney village, 68 restaurants, seven hotels, two convention centers and 52 boutiques. The company opened for operation in the late march 1992 for the employees. The presses were later formally invited to the company on April 11th 1992 and on April 12th 1992 for the visitors. The company enjoyed enormous profits but later incurred losses. Cultural differences Though Euro Disney operates in the European countries, it has encountered cultural differences in some countries. This is because the company was formed in the United States and had an American business setting. Therefore, the company operated with adoption of American business aspects. Since there are cultural differences between America and France, the company had to adjust to the cultural difference so as to suit into the French market. These cultural differen
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The workplace realms receive immense benefits if the team methodologies are working to good effects and producing the results that are asked of them. It is also a given that the organizational and team environment would mean that the organization works as a whole and that there are no problems or issues that exist within its fore.
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