Functions of Management Scenario - Essay Example

One of the prevailing tasks for planning a business is by determining what you as an entrepreneur want to sell. This is determined by defining the market that offers the same commodity you are selling and gauging the anticipation through competitive forces determined by measurement in market share, sales brand availed through marketing and promotion, and determination of financial performance under which the competitor has registered in three prevailing financial years. In consideration of the prevailing functions of management scenario from Michael Dellmon's entrepreneurship activities, the above-mentioned prevailing tasks are evident because his company grew into one of the largest computer companies worldwide. We anticipate this norm by concluding that Michael Dellmon had a clear and succinct vision while starting his company. The characteristics of effective planning are evident in that Michael decided to avail developed strategies that he would complete by pursuing a low-cost/price strategy.

Contrary to management organization, a given entity needs to ensure that aspects like specialization, and division of work are done effectively and substantially so that certain goals are delivered professionally and within the stipulated timeframe. The achievement established within Michael Computer Company is evident, especially articulating that Michael decided to start his business with a small group of workers. Every worker delivered services according to their respective disciplines and he decided to share his roles with his friends, who had an accounting degree and set up a system of performance standards that he could use to see if he was meeting his goals for the organization.
Through Michael's vision, we realized that for him to grow his business well, he would require to use cheap labor by outsourcing the manufacture of various parts of the computer to countries where there were highly skilled workers but they did not demand high wages. As the business grew, he developed a structure that described the various tasks and reported relationships between the workers in the organization.

Friend-Z’s management scenario
Global producers work based on accepting lower profit margins that in turn increase competitive pressures that more so, lead to high production value-added solutions. However, in consideration of Friend-Z’s management, we will anticipate various advantages and disadvantages of employing global competition norms. One of the advantages includes the rise of production level, provision of skilled labor that leads to effective services and product delivery, and acquisition of customer’s preferences articulations. However, global competition may lead to straining of economies of sales and high capital use setting up diverse and effective management to avail services on time and within customer’s preferences. The above-articulated disadvantages and advantages are among the issue that Friends Z’s company looks forward to meeting in its business processes. Moreover, for Friends Z’s to go global in terms of business growth and especially doing business in a foreign country, political stability, history of business, market analysis, social services, and preferences behaviors are some of the environmental factors that need to be given priority and looked upon.

To become more successful, Friends Z needs to avail joint venture strategy since it becomes very hard to do business with another company without having an agent preferably a citizen person by birth. Working in joint as well as in partnership is the best way to go and through this strategy issues like licensing, law of exportation and investment level come at hand without the aspects of international restrictions. To compete with outstanding companies outside and globally, Friends will work based on promotional articulation and initiating cost-effective facets that will take into consideration that pricing is lower as compared to its competitors and that customers are rewarded as well as their preferences and behaviors are given high priorities.

Sally Scenario
In the process of Sally initiating new policies for her co-workers, she requires to communicate effectively to initiate the perception of change well. Sally is required to teach her co-workers the importance of time management and give out the positive influence it carries as far as the aspect of profit maximization is taken into consideration. In addition to that, she needs to prepare the co-worker's mindset by telling them time management is one channel that leads to better payments and wages that when taken into consideration, benefits are for both the company and the employees too. After imitating educative perception, it is now the better time for her to avail of the new policy for recording the check-in time and this will have a positive influence on the co-workers (Woeltje and Seiwert 9-13). Read More