Nobody downloaded yet

Management Principles - Essay Example

Comments (0) Cite this document
Summary
When the Sony Company first developed and offered its employees lifetime employment guarantees, it was operating in a much different business climate than today’s marketplace. During this time period, several decades ago, it was commonplace, especially in Japan, for employees…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER95.4% of users find it useful
Management Principles
Read TextPreview

Extract of sample "Management Principles"

Download file to see previous pages This report identifies the advantages and disadvantages of the lifetime employment model and offers lessons for today’s managers who are still considering using this lifetime employment system.
When employees are given lifetime employment guarantees, the business must consider its responsibilities in terms of the law. Gibson and Piscitelli (1997) offer that business leaders must be careful about certain statements which are made which can be interpreted by employees to mean that their jobs will always be secure. In one large, multi-national business environment, a business manager, in passing workplace discussion, told his employee that “we will retire together”. This statement was made in an environment where no such lifetime employment guarantees were part of the business model, however the employee was able to convince the legal system that a lifetime employment contract was implied, thus imposing significant consequences for the business.
Even though this was not a business where lifetime employment was being offered to employees, it tends to illustrate the importance of considering the legal responsibilities of these agreements. Repa and Stewart (1999) offer that the largest legal risk is when employees begin to perceive that contracts exist between themselves and the business entity, thus the creation of an implied contract becomes grounds for legal disputes. In a business where lifetime employment is part of the business model, companies must consider the risks of these types of agreements as employees have considerable legal resources available in the event that employees perceive breaches of these contracts, whether implied or based on written employee contracts.
The business must also consider that, when offering lifetime employment guarantees, the current marketplace or economic conditions will not always, in the future, be favourable ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Management Principles Essay Example | Topics and Well Written Essays - 2500 words - 1”, n.d.)
Management Principles Essay Example | Topics and Well Written Essays - 2500 words - 1. Retrieved from https://studentshare.org/miscellaneous/1556912-management-principles
(Management Principles Essay Example | Topics and Well Written Essays - 2500 Words - 1)
Management Principles Essay Example | Topics and Well Written Essays - 2500 Words - 1. https://studentshare.org/miscellaneous/1556912-management-principles.
“Management Principles Essay Example | Topics and Well Written Essays - 2500 Words - 1”, n.d. https://studentshare.org/miscellaneous/1556912-management-principles.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Management Principles

Management Principles

...? Management Principles The report describes the meaning of management and management principles. Itfurther explores the difference between management and leadership supported with a real life example of a business manager and a business leader belonging to Folio3 Incorporation. The report discovers that leadership is motivational in nature and management is mere organization. In the end, it also discusses on best practices on how to become an effective manager or leader in the current era. Table of Contents Management Principles 1 Abstract 1 Table of Contents 2 Introduction 3 Differences between a Business Manager and a Business Leader 4 Folio3, Software House: An Incorporation of Management and Leadership 5 Mr. John Tray and His... rules...
12 Pages(3000 words)Essay

Management Principles

...?Management Principles Today’s management is very different from the past because of different challenges faced by organisations. These challenges are triggered by tough competition and changing customer needs. These two factors have resulted in lot of innovation and thus the need for increasing employee involvement and commitment. Innovation also requires high knowledge. Competition has resulted in decreased distances between nations and globalization. Improvements in information and technology have also resulted in innovation and competition. Increasing competition can decrease employee commitment and loyalty towards organisation; thus retention of experienced employees is a major challenge. Today’s organisations provide immense... ...
2 Pages(500 words)Essay

Management Principles

...First Institute Management Principles The origin of concept of management can be traced back to the scientific management principles proposed by Taylor that focused on selection, training, supporting and rewarding people. Further, more comprehensive framework was developed by Fayol that described management functions and managerial duties. However, management has evolved from this concept and now incorporates more behavioral or human resource approach. These theories are based on the proposition that people are the most critical resources of an organization. Management has evolved from core managerial...
2 Pages(500 words)Essay

Management Principles

...?A leader and a manager. Leadership is one of the competencies that managers should possess; however, leaders are different from managers. For example, Thornton states, ‘the difference between managers and leaders is similar to the difference between architects and general contractors’ (2003, p.1). In the present discourse, this difference is illustrated by quote the examples of two individuals in my firm that include my team leader and his manager by designation. From the staff’s perspective, their supervisor is the team leader assigned to the team. This leader is actively involved in coaching, training, directing and supervising the team members’...
2 Pages(500 words)Essay

Management Principles

...?What are the international management challenges of globalisation? The main challenges in globalisation context come from management, cultural adaptation, and economic framework. Globalisation has resulted in emergence of increased numbers of multinational corporations. These MNCs have great difficulty in implementing parent company management principles and policies framed in other parts of the world. Secondly, managers and other employees that are appointed for setting up businesses in other locations find it extremely difficult to understand and adapt to the cultures of new locations. Thirdly, on one hand, organisations are trying to take advantage of...
2 Pages(500 words)Essay

The Need for Food Hygiene

7 Pages(1750 words)Essay

Management principles

...Management Principles Currently international management at MH Company consists of one person. What specific management principles and practices should MH company begin to put in place that will assist the company as their international expansion plans move forward and their international business begins to grow? Consider possible partnerships with international consultants who can assist with cultural and social factors. Before any proposal for strategy and the establishment of international management division for the global expansion of Monster Healthcare Company could be developed, it is important to underscore - for the benefit of...
2 Pages(500 words)Essay

Management principles

...and achievable. In order for managers to achieve the organizational objectives in the stipulated time, cost and quality, it is imperative that they undergo a self-assessment with respect to the universally recognized traits of management discussed in this paper. If an individual is good at the four basic skills of management as discussed above, he/she can be sure that he/she is quite effective as a manager. References: Anon., 2009. “Planning Function of Management”. Management Study Guide. Viewed 19 Aug. 2010. < http://www.managementstudyguide.com/planning_function.htm>. Creighton, A, Arendall, C. S. and Pray, B. B. 1998. “Biblical...
4 Pages(1000 words)Admission/Application Essay

Management principles

.... The key to success lies in the goals of the company which are meant to develop profitable relationships with the customers by offering high quality service. Bibliography ABRAMS, R. M., & KLEINER, E. (2003). The successful business plan: secrets & strategies. Palo Alto, Calif, ThePlanningshop. IBISWORLD, (2012). Take Away and Fast Food Restaurants in the UK: Market Research Report. [online] Available from: http://www.ibisworld.co.uk/market-research/take-away-fast-food-restaurants.html [Accessed 16 March 2012]. KUHN, K. (2009). Recession fuels 8% growth in UK fast-food industry. CaterResearch. [online] Available from: http://www.caterersearch.com/Articles/23/11/2009/331036/recession-fuels-8-growth-in-uk-fast-food-industry.htm[Accessed 16...
5 Pages(1250 words)Essay

MANAGEMENT PRINCIPLES

... Introduction In coming up with the 14 principles, Fayol had a feeling that management was no fully define. Inhis attempt to bring changes, he came up with general teachings about management that could be applicable both to “primary schools” and higher education. His commitment towards the idea is seen when he retired in his work, he went to publish books on management principles. He further founded the Centre for Administrative Studies where he interacted with professionals from various professions so as to further his understanding on management principles. Initially, Fayol had discussion in his mind when he came up with the principles. He said, “Will the principles have any management code?” in his discussion, it shows that his... ...
5 Pages(1250 words)Term Paper
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Management Principles for FREE!

Contact Us